Three phases, then the campaign runs until it closes
We work in order, because the campaign is only as good as the model behind it. Each phase produces work the company keeps after the round.
Strategy, finance and market
We start with the numbers, because the numbers decide the conversation. The existing model gets audited line by line, then rebuilt so it holds under questioning.
- Model audit
- We read the existing model the way a diligence team reads it, looking for circular logic, unsupported growth assumptions, cohort maths that does not tie, and cost lines that do not scale the way the narrative claims.
- Full rebuild
- The model is rebuilt from the operating drivers up, with assumptions isolated on one sheet so any investor can change a number and watch the outcome move.
- Bottom-up market sizing
- Market size is built from customer counts, contract values and adoption rates. Top-down percentages of a large analyst number do not survive a first meeting.
- Competitors and comparables
- A written study of who else is in the market and how the market pays for companies like this one, using transaction and trading comparables an allocator will recognize.
- Valuation
- A defensible range with the method shown, so the founder can explain where the number comes from rather than assert it.
- Multi-round cap table
- Dilution modelled through the rounds that follow this one, including option pool refreshes and preference stacking, so today's terms are chosen with the exit in view.
- One model the founder keeps
- Everything consolidates into a single file the company owns and maintains after the raise closes.
The pitch
The deck gets reviewed by people who have written pass memos. Weaknesses surface here, in a room where they cost nothing.
- Adversarial review
- We argue against the company. Every claim gets tested for evidence, every metric for definition, every forecast for the assumption carrying it. What an investment committee would raise, we raise first.
- Rebuild to institutional standard
- The deck is rewritten and reset so the argument runs in order, each slide carries one point, and the figures are sourced.
- Ten to twelve minute run
- The narrative is rehearsed to a tight run with the founder. Anything that does not earn its place in that run moves to the appendix, where it is ready if asked for.
- A real FAQ
- Written answers to the twenty questions that actually get asked, so the same answer comes out of every person on the team.
- Risk and mitigation
- The risks are stated with what the company is doing about each one. Naming a risk and answering it builds more credibility than hoping nobody asks.
The campaign
We take the company to allocators its own network does not reach, in a sequence built to create competitive tension rather than a queue of one-off meetings.
- Scored target list
- Investors are scored on check size, stage, sector appetite, structure preference and recent deployment, so effort goes where a yes is possible.
- Warm-introduction mapping
- For each target we identify the shortest credible path in, through portfolio founders, operating partners, advisers and prior colleagues.
- Sequenced outreach
- Approaches go out in waves rather than all at once, so early conversations inform the ones that follow and the process reaches decisions on a shared timeline.
- Twelve-week editorial calendar
- Publishing starts before the materials are finished. By the time an investor searches the company, there is a visible record of the team thinking in public.
Where the rehearsal happens
Phase two is run in a room, across a table, with the questions asked in the order an investment committee asks them.
Then the campaign runs until it closes
We stay on the raise through diligence, terms and signature. Introductions continue, the model is updated as the numbers land, and objections from one conversation are answered in the next. The engagement ends when the round does.