Capital Structure

How the business is funded, at what cost, and on what terms: we advise you to take the best funding decisions.

Capital Funding Advisory

The decisions made about how a business is funded today shape what it can do for years to come.

We work with founders on the strategic and financial dimensions of capital fundraising, ensuring the process is entered with clarity on what is being sought, why, and on what basis.

We bring the discipline and experience to advise founders on these decisions before they become irreversible.

  • We assess the current and target capital structure of the business, identifying the optimal mix of equity and debt, given the stage, sector, and strategic objectives.

  • We advise on when to raise, how much to raise, and what structure best serves the business at its current stage and trajectory.

  • We model the dilution consequences of financing decisions over time, helping founders understand the long-term implications of option pool sizing, convertible instruments, and successive equity rounds.

  • For businesses with debt facilities, we monitor covenant compliance and manage lender reporting requirements to ensure the relationship remains in good standing.

  • We help founders identify and prioritise the right investor profile for the round and frame the business in a way that resonates with that specific audience.

Sell-Side Transaction Support

When a transaction is on the table, the quality of financial preparation determines the quality of the outcome. Sell-side transactions tend to be operationally demanding periods for management teams because investors move quickly, ask detailed questions, and form views about management capability.

We provide the additional capacity and expertise that allows management to meet that standard without losing focus on running the business.

  • We help you build, populate, and maintain the virtual data room to the standard that institutional investors expect, with clear structure, version control, and access management.

  • We collate the historical financial, operational, and commercial information that investors require, in a format that is consistent, auditable, and easy to navigate.

  • We anticipate and handle the volume and complexity of investor questions systematically by preparing the analysis, documentation, and narrative to address them

  • We manage the timeline, workstreams, and information flows of a complex due diligence process to ensure it progresses efficiently.

  • We help you prepare the normalised accounts, financial summary, and management presentation that positions the business correctly and compellingly ahead of a sale or fundraising process.

  • We work alongside legal advisors to ensure that financial information referenced in transaction documents is accurate and consistent with the data room.