Buy-side due diligence for tech. An operator's read.
Independent financial diligence, run by the same senior team that runs finance inside tech companies.
4 mandates.Pre-IC to close.
From a 2-day pre-IC read to a 5-week confirmatory FDD, plus an ongoing read on portfolio companies. The same senior team runs all 4.
Red-flag review
A fast read on a target. We surface what would kill the deal or reprice it, in a 5-page memo with a clear go / no-go.
- 5-page memo, go / no-go
- Focus on deal-breakers
- Built for pre-IC timing
Rapid screening
A condensed FDD for conviction before a term sheet. ARR quality, revenue recognition, cohort retention, unit economics.
- ARR bridge, revenue recognition
- Cohort retention, unit economics
- Management claims tested
Full buy-side FDD
What an IC needs to decide. Quality of earnings and ARR, cohorts, CAC and payback by channel, NRR bridges, burn and runway, cap table and dilution.
- Full report, exec summary
- Q&A tracker, IRL, working file
- Scoped per deal
Portfolio monitoring
A monthly or quarterly read on portcos. KPI dashboard, covenant tracking, variance to plan, early-warning signals.
- Monthly or quarterly cadence
- KPI, covenant, variance tracking
- Early-warning flagging
Every mandate is scoped to the deal. Tell us the question and the timeline, we come back with a scope, a team and a fee.
SaaS and deep tech.Read differently.
We stress-test the model on the metrics that price the deal. Those metrics differ between SaaS and deep tech.
- Quality of ARR: what is truly recurring
- NRR and logo churn, tied to cohorts
- CAC payback and unit economics by channel
- Customer concentration and cohort durability
- Does the margin improve as you build more units?
- Firm orders, or letters of intent?
- Does each technical milestone unlock cash?
- How much capital does each step of scale lock up?
Reported ARR.What actually recurs.
An anonymized finding from a red-flag review. We rebuild the number management reports.
Illustrative: reported ARR rebuilt to what truly recurs.
Independent and senior.3 principles on every mandate.
Independence
Fixed fee. No success fee. We have no stake in whether the deal closes.
Operator and advisor
We sit as CFOs inside tech companies. We know what gets adjusted before a raise, and where to look.
Both sides of the table
We prepare founders for diligence and run diligence for funds. Never both sides of the same deal.
5 working days.Brief to findings memo.
From kickoff, you hold a findings memo in 5 working days, and a full FDD in 3 to 5 weeks.
A full FDD follows in 3 to 5 weeks.
Request a scoping call.
Sector, stage, timeline, the question, and we come back with a scope, a team and a fee. Prefer to talk? Book a call.