Test the raise before the market does.
An independent review before investor engagement begins.
Investors will test the proposition anyway. Better it is tested privately first.
A raise built on untested assumptions is expensive. It shows up as a valuation that does not survive contact with investors, a structure that creates problems two rounds later, or a round that drags because the narrative and the numbers do not match.
The voices closest to the raise are rarely independent. Advisers on the round want it to close. Existing investors have positions to protect. Founders are anchored to a number.
The review tests the decision before the company is in market, while every option is still open and nothing has been signalled to investors.
What the review tests
- Whether capital is the right answer, or whether the problem is something capital will not fix.
- How much to raise, and what the amount signals.
- Structure and instrument, and what each does to the cap table and control.
- Whether the use of funds is credible against the plan.
- Whether the investor narrative matches the numbers.
- What investors will challenge, and what to fix before going to market.
- Sequencing: who to approach, in what order, and when.
The output is a written decision memo: whether to raise, on what terms the raise is defensible, what must be fixed first, and the sequence into market.
Engagement
Fixed scope. Independent. Principal led.
The review is built around the live raise decision. It usually includes direct working sessions, review of the model, cap table and investor materials, commercial pressure testing of valuation and structure, and a written decision memo before investor conversations begin.
PHCA is not a broker, placement agent or transaction intermediary. Advisory fees are never contingent on capital raised, transactions completed or sale outcomes achieved. That independence is the point of the work.
Part of PH Capital Advisory’s Strategic Decision Reviews.
View all Strategic Decision Reviews
Related reviews: Buyer Approach Review | Shareholder Decisions
Next step
Request a 20 minute decision call
If a raise is being considered or prepared, the cheapest time to test it is before any investor has seen it.
Outline the situation in confidence. If it is a fit, you will receive call times within one business day. There is no charge for the call and no obligation beyond it.
Received.
Your enquiry has been received. If the situation is a fit, you will hear back with call times within one business day.
If the matter is urgent, email peter@peterhowell.co.nz directly.