Capital Second Opinion. Before you raise.
An independent review of a proposed capital raise before you approach investors—testing the amount, structure, valuation logic, ownership consequences and investor readiness.
01
The situation
- You are preparing to raise outside capital and want the core assumptions tested before speaking to investors.
- The objective is not to raise the money for you. It is to determine whether you should proceed, change the raise, prepare further or reconsider it.
02
Questions we test
- Do you actually need outside capital—and how much?
- What type and structure of capital best serves the business?
- Is the valuation logic defensible?
- What will investors question or dislike about the proposition?
- What are the ownership and dilution consequences?
- Are you ready to approach investors?
03
What you send
- A short intake questionnaire.
- Up to three core documents—such as a pitch deck, financial forecast and cap table or financing proposal.
- Up to 50 pages of material in total.
04
What you receive
- A 90-minute founder session focused on challenging the assumptions.
- A concise written Capital Second Opinion covering capital need, amount, structure, valuation logic, investor readiness and the overall recommendation.
- A practical view of the most important issues to address before speaking to investors.
05
Included
- Intake questionnaire.
- Review of up to three documents and 50 pages.
- 90-minute session.
- Concise written Capital Second Opinion.
06
Not included
- Rewriting the pitch deck or rebuilding financial projections.
- A formal valuation report, investor research or investor introductions.
- Legal or tax advice, due diligence or fundraising.
Material beyond the stated document limit, or work arising from the review, can be considered as a separate advisory assignment.
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