Michael Farace

Principal at Pegasus Tech Ventures

Principal
2023 - Current
Investor
2020 - 2023
Pegasus Tech Ventures is a global firm with $2B AUM and more than 100 members across the world. Pegasus has made more than 225 investments and has more than 60 exits to date. Currently, a member of the investment team, working on both strategic investments and financial return investments, covering more than 25 portfolio companies including SpaceX, Carbon, Grubmarket, Roofstock, and more.

Finance Department Intern
2019 - 2019
Served as a Finance Intern for 2 consecutive summers, overseeing day-to-day financial operations. Worked in all areas of finance, including cost accounting, accounts payable and general accounting, and budget/ expenditure analysis to assess performance (e.g. identifying over-budget outcomes). Completed cost transfers, audit expense reports, and market research reports, with the latter delivered to the CFO. Performed bank reconciliations and processed invoices for payments and receivables, entering invoices into the Oracle system. Entrusted with managing cost transfers of up to $10 million at a time based on level of trust built over time; additionally, processed up to 250 invoices per day. Delivered well-received presentations to the CFO along with another intern regarding the effects of the new GAAP accounting principles on revenue recognition for Rosendin Electric. Sat in on meetings with Project Managers and Division Managers periodically to discuss the overall health of divisions and jobs.

Finance Manager
2018 - 2018
Managed all financials for the start-up, including budgeting and purchasing activities.

Office Intern
2016 - 2017
Handled accounting and operational functions, reporting directly to the owner and founder. Assisted with bank deposits, accounts receivable, and accounts payable activities. Monitored inventory and created load sheets for trucks on daily deliveries. Facilitated payment with cash and A/R based on customer situations. Played a key role in improving efficiency by ~10% through creating strategies for route logistics, including maintaining a log of deliveries and organizing delivery routes based on customer demand.