Buy-side due diligence
for tech.
SaaS, fintech, AI, marketplaces, deep tech, climate tech. Financial and commercial due diligence, calibrated to tech models. We read the numbers the way an operator reads them, because we are operators.
Four mandates.
One standard of rigor.
From a pre-IC read in 48 hours to a confirmatory FDD in five weeks, and an ongoing watch on portfolio companies. Same senior team. Same vocabulary.
Red flag review
Fast read on a target. We surface what would kill the deal or reprice it. Delivered as a 5-page memo with a clear go / no-go recommendation.
- 5-page memo, go / no-go call
- Focus on deal-breakers
- Calibrated for pre-IC timing
Rapid screening
Condensed FDD for funds needing conviction before issuing a term sheet. ARR quality, revenue recognition, cohort retention, unit economics, key management claims tested.
- ARR bridge, revenue recognition
- Cohort retention, unit economics
- Management claims stress-tested
Full buy-side FDD
The mandate that secures an IC decision. Quality of earnings, quality of ARR, cohort analysis, CAC and payback by channel, NRR/NDR bridges, working capital, net debt, management adjustments. Deal-specific red flags included.
- Full report, exec summary
- Q&A tracker, IRL tracker, working file
- Scoped per deal
Portfolio monitoring
Monthly or quarterly read on portcos. KPI dashboard, covenant tracking, variance vs plan, early warning signals. Built once, run continuously.
- Monthly or quarterly cadence
- KPI, covenant, variance tracking
- Early-warning flagging
All ranges are indicative. Full FDD is scoped per deal. Ask for a reference list on request.
Three principles.
No compromise on any of them.
Independence.
Fixed fees. No success-based compensation. No implementation upsell downstream. We tell you what we see.
Tech-native.
Every model is stress-tested on the metrics that actually matter for the type of tech at hand. SaaS gets read like SaaS. Deep tech gets read like deep tech.
Operator and advisor.
We sit as CFOs in operating tech companies. We've seen what gets adjusted before a raise. We know where to look.
Five working days.
From pre-IC brief to findings memo.
From kickoff, you hold an IC-grade narrative within five working days, and a full FDD in three to five weeks.
IC-ready brief
30-min kickoff call. Sector read, deal thesis, priority red-flag zones agreed with the lead partner.
Data-room intake
Cleaned, indexed, reconciled. Baseline KPIs rebuilt, so your team argues off the same numbers we do.
Red-flag review
ARR quality, concentration, cohort health. A short-list of deal-breakers and items to reprice.
Findings memo
Pricing-relevant findings. Ready for your IC or your term sheet. Sent as a working file, so Q&A stays alive.
we refuse
- No success-based compensation tied to deal closing.
- No engagement on non-tech targets.
- No downstream implementation work on the same deal.
Request a scoping call.
Tell us the deal, the timeline, and the question. We'll come back with a scope, a team, and a fee. No obligation.