Our service offerings

Capital Structure Advice

We provide capital structure advice to help businesses and fund managers determine the optimal mix of equity and debt financing based on their growth plan, cash runway, risk tolerance, and funding constraints. This includes assessing options such as equity, convertibles, SAFEs, venture debt, senior or junior debt, notes, and revenue-based finance. Our process starts with a review of the current cap table, debt obligations, burn rate, revenue outlook, and use of funds. We then model multiple capital structure scenarios, analysing dilution, cost of capital, covenant headroom, and refinancing risk. The outcome is a clear, board-ready recommendation that outlines a preferred structure, fallback options, and decision triggers, supported by a practical capital plan and financial models.

Debt vs Equity Analysis

Our debt vs equity analysis helps businesses make informed decisions about how to raise capital by comparing funding options across cost, control, flexibility, and risk. We assess the implications of equity dilution versus debt servicing under realistic base, upside, and downside scenarios. This includes modelling valuation ranges, ownership outcomes, interest costs, covenants, and cash-flow impact. By stress-testing different outcomes, we identify the point at which debt becomes restrictive or equity becomes unnecessarily dilutive. The result is a structured decision framework that clarifies when debt, equity, or a staged combination makes the most sense for the business.

Financial Performance Assessment

We conduct financial performance assessments to present a lender- and investor-ready view of a business’s operating quality. This includes analysing revenue quality, margins, unit economics, cash flow, and key risks using historical financials and management accounts. We normalise results to remove one-off items, assess revenue concentration and retention, and explain margin and cash-conversion drivers in clear terms. Key performance indicators are presented with trends and context, alongside an honest assessment of risks and mitigants. This process helps businesses understand how they are likely to be underwritten and what needs improvement before entering funding discussions.

Coverage Analysis

Our coverage analysis evaluates whether a business can comfortably service debt under both normal and stressed conditions. We model interest and principal obligations against cash flow, calculate coverage ratios such as DSCR and interest coverage, and assess covenant headroom over time. Stress scenarios test revenue declines, margin pressure, and working-capital delays to identify potential breach points and liquidity risks. The outcome is a clear view of debt capacity, key tripwires, and practical mitigation options, helping businesses approach debt financing with confidence and realism.

Preparing Materials

We help businesses prepare clear, consistent funding materials that allow lenders and investors to underwrite efficiently. This includes developing teasers, pitch decks, and information memorandums supported by robust financial models. We start by locking the core story, such as why the business exists, how it performs, and why it is raising capital, then align all metrics to a single source of truth. Underwriting-focused slides cover traction, unit economics, pipeline, use of funds, and risks, with all figures tied back to the financial model. The result is a professional, investor-ready package that supports credible capital discussions.

Investor Targeting Strategy

Our investor targeting strategy defines who to approach, in what order, and with what message to maximise the likelihood of a successful raise. We segment the capital universe by investor type, ticket size, stage, sector focus, and risk appetite, then build and prioritise a targeted outreach list. Each raise is positioned with tailored messaging angles that align with different investor priorities, such as growth, defensibility, or downside protection. This structured approach ensures funding efforts are focused, efficient, and aligned with the most relevant financing partners.

Fundraising Readiness

We run a fundraising readiness process to ensure businesses are properly prepared before entering the market. This includes reviewing governance, financial controls, cap table integrity, narrative clarity, and diligence materials. We identify gaps that could slow or derail a raise, prioritise fixes, and build a practical 30-, 60-, and 90-day action plan. By simulating investor questions and diligence, we help founders tighten their story and documentation, enabling them to engage in funding conversations with greater confidence and credibility.