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Securing New
Capital

A Playbook to Securing New Capital

Getting financing is a matter of trust. Our mission is to understand the value you create and translate that into a once-in-a-lifetime investment opportunity for others.

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The Basics

“I’ll do whatever it takes to win games, whether it’s sitting on a bench waving a towel, handing a cup of water to a teammate, or hitting the game-winning shot.”
 Kobe Bryant

Process objectives

  • Find the right investor for you
  • Premium valuation without compromising future liquidity
  • Minority investment with limited rights

Key success factors in creating an attractive opportunity

  • A simple equity story to be drummed into the investors minds
  • Play wisely with the fear-of-missing-out
  • You have to really believe in what you offer

Key success factors for getting investors “to the finish line”

  • Management focus and engagement
  • Seamless process execution
  • No negative due diligence findings
  • Strong performance during deal phase

Loss of control versus New Investor Rights

Not everything in a deal is about valuation and ego but understanting each parties interest and goals.

Governance rights

Board seats / Information rights

Veto rights

Management commitment to stay

Path to control for new investor?

Call option

First right of refusal

Performance-based earn-outs/ratchets

Exit rights

Liquidation preference

IPO right

Put option

Tag and drag rights

Minimum valuation criteria

Valuation Drivers

Price is what you get, value is what you sell.
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Significant premium for (path to) control

Governance and exit rights

(Perceived) competition in process

Operational out-performance during the process

Due diligence findings

Macro-economic and M&A environment

Quality of motivation of management

Availability of debt leverage

Funding currency and hedging cost

Negotiation skills (shareholders, SASTRERIA and lawyers)