The document discusses a startup fund of fund focusing on researching and investing in emerging hedge funds. It outlines key challenges such as updating hedge fund performance, constructing internal indexes, and maintaining investment portfolios. It then proposes an integrated solution using IBN Technologies' fund of funds back office services to address these challenges. This included maintaining fund databases, daily client contact, portfolio worksheets, index construction, and performance reporting. As a result, the client was able to focus more on research and investing activities effectively with IBN's support.