Capital Advisor for Independent Sponsors

The Capital Raise Is
Where Deals Live or Die.
We Run the Raise.

Non-SBA capital raises for independent sponsors — Family Offices, SBIC Funds, HNWIs, and Mezzanine — structured and orchestrated from LOI through closed capital.

68% of IS sponsors with exits returned 3x or more to investors Citrin Cooperman 2025 IS Report
79% of IS sponsors target the $2M to $5M EBITDA range, the most underserved LMM segment Citrin Cooperman 2025 IS Report
74% of IS sponsors say competition is increasing. Process is now what separates winners. Citrin Cooperman 2025 IS Report
The Problem

What Breaks IS Capital Raises

Independent sponsors operate deal by deal. Every transaction is a fresh raise. Most raises do not fail because the deal is bad. They fail because the process breaks down.

No Validated EBITDA. No Engagement.

Capital providers — family offices, SBIC funds, HNW individuals — will not underwrite a deal without independently validated EBITDA. Presenting seller financials directly is not credible. It stalls every conversation before it starts.

Wrong Capital Sources. Burned Relationships.

Targeting the capital providers you know rather than those that fit the deal kills momentum. A family office deal sent to an SBIC fund. An SBIC deal sent to the wrong investor type. Wrong fit wastes time and damages relationships you will need later.

Weak Materials. No Term Sheets.

Materials that do not answer the five questions every IC asks — true EBITDA, capital stack under stress, exit thesis, management continuity, IS sponsor value-add — do not generate term sheets. Beautiful design does not fix a structural gap.

No Process. Timeline Drift.

IS sponsors managing the raise alongside diligence, seller negotiations, and LOI management spread thin across four jobs simultaneously. Follow-up becomes inconsistent. Momentum dies. Timeline drift compounds. The seller grows nervous and the deal loses momentum.

53% SBIC fund adoption among IS sponsors, up 19 points in 3 years Citrin Cooperman 2025 IS Report
62% Family office adoption, the number one capital source for IS sponsors Citrin Cooperman 2025 IS Report
37% of IS sponsors with exits returned 5x or more to investors Citrin Cooperman 2025 IS Report
9yrs of consecutive IS sector growth. The model is proven. 2017 to 2026
Our Solutions

Four Solutions. One Capital Raise.

Before any capital provider engages, four things have to be in place: EBITDA validated, model built, materials investor-grade, and outreach structured. We deliver all four as one integrated engagement.

01

Light Quality of Earnings

Normalize EBITDA before any capital provider sees the financials. Validate add-backs, identify revenue risks, and produce a targeted diligence document capital providers can underwrite against.

Deployed: Pre-LOI or immediately post-LOI
02

Financial Modeling

Integrated LBO model with base, downside, and upside cases. Capital stack optimized across senior debt, SBIC, seller note, and equity. DSCR stress-tested at 1.5x minimum in every downside scenario.

Deployed: Post-LOI, before outreach launches
03

Materials Preparation

The full investor package: Executive Summary, CIM, One-Page Deal Summary, Management Presentation. Materials structured to answer the five questions every IC asks before writing a check.

Deployed: Before first capital provider contact
04

Outreach and Process Orchestration

Capital provider mapping, tiered outreach, diligence management, and term sheet tracking from launch through close. You run the deal. We run the raise.

Deployed: Concurrent through closing
Why De 15:6

We Speak IS. We Know the Deal by Deal Model.

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Built Specifically for Independent Sponsors

Every solution, every framework, every process is designed for the deal by deal model. Not adapted from something else. Built from the ground up for how IS sponsors actually operate.

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We Run the Raise. You Run the Deal.

The skills that make a great IS sponsor — sourcing, seller relationships, operational judgment — are not the same skills required to run an institutional-quality capital raise. We handle the raise so you can stay focused on the deal.

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Process-Driven. Data-Backed. No Fluff.

Every engagement follows a defined 90-day execution framework from first call through post-close setup. No wasted steps. No ambiguity. Every deliverable tied to a specific outcome in the raise.

Most Independent Sponsors running non-SBA deals are navigating Family Offices, SBIC Funds, HNWIs, and Mezzanine capital providers simultaneously — with no structured process connecting any of it. Capital providers can tell. The ones who close are the ones who show up with a structured capital stack, IC-ready materials, and a raise that runs like a process, not a scramble.

Julius Brown III, Founder, De 15:6 Capital Advisory

74% of IS sponsors predicted competition would increase heading into 2026. That prediction has materialized. The window is open. Process is now the separator.

The Process

From Engagement to Capital Close in 90 Days.

Phases 1 through 4 — pre-outreach — complete in the first 15 days. Phase 5, the raise orchestration, runs from Day 16 through Day 90. No gaps, no drift.

Phase 1

Discovery and Capital Diagnosis

Days 1 to 5. Deal intake, capital feasibility assessment, and engagement scope defined.

Phase 2

Light QofE and Financial Modeling

Days 3 to 12. EBITDA normalized. Capital stack modeled and stress-tested at 1.5x DSCR.

Phase 3

Capital Architecture

Days 8 to 13. Capital stack designed. Every tranche mapped and assigned from a capital provider viewpoint.

Phase 4

Raise-Readiness and Packaging

Days 11 to 15. Full investor package built. Nothing launches until all materials clear review.

Phase 5

Outreach and Process Orchestration

Days 16 to 90. Active capital provider conversations, diligence management, and term sheets in hand.

Phase 6

Capital Close

Days 75 to 90. Close executed. Working capital confirmed. Day 1 reporting activated.

Ready to Raise

Deal Under LOI?
Let's Talk.

If you are an independent sponsor with a deal in process or a deal coming, we want to hear about it. The earlier we engage, the better the outcome.

About De 15:6

Built for Independent Sponsors.
Not Adapted. Built.

There is no institutional advisory firm purpose-built for the IS deal by deal model at the lower middle market level. De 15:6 Capital Advisory was built to fill that gap from QofE through post-close accounting.

The Founder
Julius Brown III, Founder of De 15:6 Capital Advisory
Julius Brown III
Founder and Managing Partner
julius@de156capitaladvisory.com

Why Independent Sponsors

Julius Brown III founded De 15:6 Capital Advisory to solve a specific, recurring problem: independent sponsors in the lower middle market have no dedicated capital advisor. They operate deal by deal — sourcing businesses, negotiating LOIs, managing sellers — and then have to run an institutional-quality capital raise on top of all of it.

Most IS sponsors are operators first. The skills that make someone great at finding and closing a deal are not the same skills required to structure a capital stack, normalize EBITDA through a QofE, build an investor-grade model, and execute a structured outreach process simultaneously.

De 15:6 fills that gap. We handle the raise infrastructure from Light QofE through post-close accounting so IS sponsors can stay focused on what they do best: finding great businesses and operating them.

The Market We Serve

79% of IS sponsors target businesses with $2M to $5M EBITDA, the most underserved segment of the private equity market. Traditional PE funds do not compete here. Search funds are not built for serial acquisition. The IS model is the only one purpose-built for this segment, and it has grown for nine consecutive years, with 68% of sponsors generating 3x or more in returns to investors.

In 2026, the challenge is not legitimacy. The IS model has earned it. The challenge is execution. 74% of IS sponsors expect competition to keep rising. Capital providers are more selective. Process is now what separates sponsors who close from those who do not. De 15:6 exists to give IS sponsors that process advantage on every deal.

Our Mission

Be the First Call When an IS Sponsor Signs an LOI.

Our mission is to become the default capital advisory partner for independent sponsors in the lower middle market. When an IS sponsor signs an LOI, De 15:6 should be the first call, not an afterthought. We build the infrastructure that turns a signed LOI into a closed deal: validated EBITDA, a bankable model, investor-grade materials, the right capital providers, and a managed process from outreach to close.

Core Principles

How We Operate

01

Truth Over Comfort

We do not validate weak deals or approve structures that fail the stress test. If the EBITDA does not hold, if the capital stack breaks below 1.5x DSCR in a downside case, we say so before it goes to market.

02

Process Over Hustle

Relationships open doors. Process keeps them open. Every engagement follows a defined 90-day execution framework. No wasted steps. No ambiguity. Every deliverable tied to a specific outcome.

03

Operator and Investor Lens

Every recommendation must work for both sides, the IS sponsor and the capital provider. We build structures that are executable for operators and credible for investors. That is the only structure worth building.

04

Execution Is the Currency

Track record is built one deal at a time. Every closed raise is a case study. Every satisfied IS sponsor is a referral. We build the firm by building results, not by talking about what we are going to build.

05

No Fluff

We do not produce 40-slide decks to explain what should be on 10. We do not build financial models to impress. We build them to close. Every output has a specific purpose in the raise. If it does not, it does not exist.

06

Long-Term Partnership

The first deal is the beginning of the relationship, not the end of it. IS sponsors close multiple deals. We want to be part of every one. That starts with executing the first raise flawlessly.

Work With Us

Deal Under LOI?
Let's Build the Raise.

Early engagement produces better outcomes. The earlier we get involved, the better we can structure the raise.

Solutions

Four Solutions.
One Capital Raise.

Before any capital provider engages, four things have to be done. EBITDA validated, model built, materials investor-grade, and outreach structured and managed. We deliver all four as one integrated engagement — one team, one process, one outcome.

The Full Independent Sponsor Raise — One Engagement. Four Deliverables. One Fixed Fee.

Most IS sponsors under LOI try to solve the capital raise problem in pieces — a QofE here, a deck there, a few capital provider calls with no process behind them. That approach produces delays, inconsistent materials, and burned relationships with capital providers you will need again. De 15:6 delivers all four solutions as a single engagement. The Light QofE feeds the model. The model drives the capital stack. The capital stack shapes the materials. The materials power the outreach. Each piece builds on the last. That is why we only engage when we own the full raise.

Solution 01

Light Quality of Earnings

When: Pre-LOI or immediately post-LOI, before any capital provider sees the financials.

The Problem It Solves

Capital providers — family offices, SBIC funds, HNW individuals — will not underwrite a deal without validated EBITDA. Owner-operator financials are almost always distorted: owner comp above market, personal expenses run through the P&L, one-time revenue items. Presenting seller financials directly is not credible. It stalls deals before they start.

What We Deliver

  • Three-year financial analysis covering P&L, balance sheet, and bank statements
  • EBITDA normalization bridge from reported to adjusted, with every add-back documented and defensible
  • Revenue quality assessment: recurring versus one-time, customer concentration, contract versus at-will
  • Working capital analysis and cash conversion cycle sizing
  • Key risk flags including margin compression, owner dependency, and covenant exposure
  • 10 to 15 page Light QofE document, capital-provider ready

The Outcome

Capital providers move faster. Term sheets come with fewer conditions. Re-trades decrease. The QofE is the foundation everything else is built on and it cannot be skipped.

Solution 02

Financial Modeling

When: Post-LOI, after QofE is complete, before outreach launches.

The Problem It Solves

IS sponsors who evaluate deals intuitively often cannot deliver a capital-provider-grade model that stress-tests DSCR, structures a capital stack, and presents multiple exit scenarios. Without that model, term sheets do not come, and the ones that do are priced wrong.

What We Deliver

  • Integrated LBO/acquisition model: income statement, balance sheet, and cash flow with a 5-year projection
  • Capital stack optimization: senior debt (3 to 4x EBITDA), SBIC layer, seller note, and equity tranches
  • DSCR sensitivity table tested at 1.5x minimum in base and downside scenarios
  • Downside case: revenue down 15%, margin compression, rate increase — does the structure hold?
  • Exit analysis: target multiple, required EBITDA at exit, implied return by investor class
  • Working capital requirement properly sized using DSO, DPO, and operating cycle

The Outcome

IS sponsors walk into capital provider conversations with a bankable document. Capital providers get the numbers in the format they expect. Structures that fail the stress test are fixed before they go to market.

Solution 03

Materials Preparation

When: After the model is complete, before first capital provider contact.

The Problem It Solves

IS sponsors close deals on relationships, not on polished pitch decks. When they need to go to a capital provider, they often have a CIM, a model, and a story, but not a cohesive package that answers the questions every IC asks before they engage seriously.

What We Deliver

  • Executive Summary and Teaser (2 pages): company overview, deal thesis, capital ask, and key metrics
  • Investment Memorandum and CIM (15 to 25 pages): business, market, management, financials, capital structure, and risks
  • One-Page Deal Summary for family office and HNW distribution
  • Management Presentation (10 to 15 slides), structured around the five IC questions
  • Capital Stack Summary: one-page visual showing sources and uses, DSCR, and return by tranche

The Outcome

IS sponsors walk into capital provider conversations with institutional-quality materials. The materials do the selling when Julius is not in the room. First impressions drive term sheet speed.

Solution 04

Outreach and Process Orchestration

When: Concurrent from outreach launch through closing.

The Problem It Solves

74% of IS respondents expect IS competition to keep increasing in 2026. Capital providers are more selective and see more deal flow. IS sponsors who rely on one or two relationships to close capital are exposed. Generic outreach and informal follow-up do not move sophisticated capital providers.

What We Deliver

  • Capital provider mapping: matching family offices, SBIC funds, HNW investors, and mezzanine capital to the specific deal profile, not just the IS sponsor's existing network
  • Tiered outreach: warm introductions first, targeted cold second, with a tracking system live from Day 1
  • Full process management: capital provider conversations, diligence requests, timeline compression, and follow-up cadence
  • Term sheet comparison and negotiation support covering closing fee, management fee, carry, and covenants
  • Target: 2 to 3 term sheets in hand before engagement closes

The Outcome

IS sponsors focus on the deal. De 15:6 runs the raise. More term sheets. Better economics. Shorter timeline. Fewer burned relationships from mismatched outreach.

Working Capital Facilitation and Accounting Services are covered in full detail under the Post Close Services tab. Post-close solutions are priced separately and engaged after the capital raise closes.

Get Started

Ready to Build the Raise?

Every engagement starts with one conversation about where your deal is and what the capital raise requires. Let's have it.

Post Close Services

The Deal Is Closed.
The Work Is Not.

The capital raise gets you to the closing table. What happens in the first 90 days after close determines whether the deal performs or deteriorates. De 15:6 provides two post-close service lines designed to protect DSCR, satisfy capital provider reporting requirements, and give operators a stable financial foundation from Day 1.

Most LMM acquisitions close with three compounding risks hiding in plain sight: a working capital shortfall that was underestimated at LOI, books that are cash-basis and tax-driven rather than GAAP-ready, and no reporting infrastructure for capital providers who now expect monthly financials. These are not surprises. They are predictable. We address them before close and execute on them after.

WC

Working Capital Facilitation

Deployed during diligence and active through 90 days post-close

The Problem

Most IS deals close with a tightly structured capital stack. Working capital shortfalls, often underestimated at LOI, create operational cash stress immediately post-close. The business is technically solvent on Day 30 and operationally cash-starved by Day 60. Capital providers rarely address this at closing, and IS sponsors rarely model it with precision. The result: DSCR deteriorates in the critical first year. capital provider confidence erodes. The business that looked like a 5x opportunity begins to feel fragile.

Cash Conversion Cycle Modeling

We model the actual working capital need before close, using DSO, DPO, and inventory turns specific to the target business. We do not use industry averages. We use the target's actual operating data to size the real requirement.

  • DSO analysis: How long does it actually take to collect on invoices?
  • DPO analysis: What are the real payment terms with vendors and suppliers?
  • Operating cycle timing: Where does cash go negative and for how long?
  • Seasonality stress: Is there a slow quarter that compounds the working capital requirement?

Working Capital Peg Validation at Close

The working capital peg set at LOI is often negotiated before precise modeling is done. We validate the peg against the modeled working capital requirement, identify any shortfall, and surface it in time to negotiate a seller-funded adjustment or modify the closing structure before wires are sent.

  • Compare LOI-era working capital peg to modeled actual requirement
  • Identify and quantify shortfall before closing
  • Negotiate seller-funded adjustment or modify escrow structure as needed
  • Confirm that final closing financials align with the modeled assumption

Solution Structuring

When a working capital gap exists, we structure the right solution for the specific deal. Not every situation calls for the same fix. We match the solution to the capital stack and the business's operating profile.

  • Revolving credit facility: sized and negotiated pre-close so it is available Day 1
  • Seller-funded adjustment: structured as part of the LOI or closing negotiation
  • Bridge equity reserve: held back from closing equity to fund the first 60 to 90 days of operations

Post-Close Cash Monitoring

For the first 30 to 60 days after close, we monitor the business's cash position on a weekly basis. This is the highest-risk window for IS acquisitions. Visibility during this period is the difference between catching a problem early and discovering it at the end of the month.

  • Weekly cash position review against the model
  • AR aging: are customers paying on the terms modeled?
  • AP aging: are vendor payments staying within DPO assumptions?
  • Daily cash reporting to the IS sponsor for the first 30 days

The Outcome: DSCR is protected in the critical first 12 months. The capital stack does not deteriorate immediately post-close. Operators have real runway from Day 1. capital provider confidence is maintained through the transition.

AC

Accounting Services

Deployed Day 1 post-close through 12 to 24 months

The Problem

Most LMM acquisition targets have messy books: cash-basis accounting, tax-driven entries, inconsistent categorization, and no monthly close discipline. Post-close, capital providers expect clean GAAP-ready reporting on a monthly basis. IS sponsors rarely have a CFO in place at close. Without clean reporting, covenant compliance becomes a guessing game and capital provider confidence erodes quickly.

Chart of Accounts and System Setup

We build the financial infrastructure from the ground up, or we clean up what exists. Before the first post-close month-end close, the system is ready.

  • Chart of accounts designed for the specific business and capital provider reporting requirements
  • Accounting system selection and implementation: QuickBooks, Xero, or equivalent
  • Opening balance sheet reconciliation against closing documents
  • Historical cleanup: recast prior-year entries to align with the close model
  • Integration setup for payroll, AP, AR, and banking systems

Monthly Close Process

We run a disciplined monthly close, producing accurate financial statements on a consistent schedule. The IS sponsor and capital providers always know where the business stands.

  • Month-end close within 10 business days of period end
  • Income statement, balance sheet, and cash flow statement — reconciled and reviewed
  • Variance analysis: actual versus model, with explanations for material differences
  • Accrual-basis accounting from Day 1 forward, no cash-basis shortcuts
  • Clean separation of owner distributions from operating expenses

Capital Provider Reporting Packages

Capital providers invested in the deal expect regular, professional financial reporting. We produce the monthly package that meets their standard, not a summary email.

  • Monthly financial package delivered in the format required by lenders and equity investors
  • DSCR calculation and covenant compliance confirmation each period
  • Narrative commentary on key variances and business performance
  • Trailing 12-month financial summary updated monthly
  • Quarterly capital provider update prepared and reviewed with the IS sponsor before distribution

Covenant Compliance Monitoring

Senior lenders and SBIC funds have financial covenants. Missing a covenant is not a minor issue. It is a default event that requires disclosure, remediation, and in serious cases, a waiver negotiation. We monitor covenant compliance proactively so that issues are surfaced in time to act, not after the quarterly reporting deadline has passed.

  • DSCR tracked monthly against loan covenant thresholds
  • Leverage ratio monitored against senior debt covenants
  • Early warning flag when any covenant is within 15% of breach
  • Remediation planning if a breach becomes likely

Foundation for the Next Transaction

IS sponsors do not close one deal. They build a portfolio. Clean books and disciplined financial reporting from the first acquisition become the foundation for the second.

  • Audit-ready balance sheet built from Day 1
  • Financial history that supports add-on acquisition diligence
  • Refinancing-ready financial package when the time comes
  • Track record documentation for capital provider and lender relationships on future deals

The Outcome: Capital providers stay informed and confident. Covenant violations caused by poor reporting are prevented. The business is positioned for the next transaction — add-on acquisition, refinancing, or exit — with clean books as the foundation.

Post-Close Planning

Close the Deal. Protect the Returns.

Post-close services are most effective when engaged during diligence, before the capital structure is finalized. The earlier we plan it, the better we can build it into the deal.

The Process

From Engagement to Capital Close.
90 Days. Six Phases. No Gaps.

Every De 15:6 engagement follows a defined six-phase execution framework. Phases 1 through 4 — pre-outreach — complete in 15 days. Phase 5, the raise orchestration, runs for 75 days. Day 1 through 90, no gaps, no drift, and a decision gate before anything moves forward.

Engagement Timeline — 90 Days
Days 1–15
Days 16–90  ·  75-Day Raise Orchestration
Pre-Outreach
Phases 1–4
Raise Orchestration
Phase 5 — Outreach · Diligence · Term Sheets · Close
Phase 1
Phase 1

Discovery and Capital Diagnosis

Days 1 to 5 — Pre-Outreach. Goal: understand the deal, assess capital feasibility, define engagement scope, and confirm fit before any work begins.
Initial Discovery Call Day 1–2

We learn the deal: target profile, deal stage, existing LOI terms, financial performance, business model, and seller dynamic. We assess whether this is a deal we can help close and what the capital raise realistically requires. If it is not the right fit, we say so directly at this stage rather than 60 days later.

Capital Feasibility Assessment Day 2–4

Based on the deal information provided, we run a preliminary capital feasibility check. Does the EBITDA, if it holds, support senior debt at 3 to 4x? Is the business SBIC eligible? Is the family office equity requirement reasonable for the deal size? What seller note terms are realistic given the business profile? This gives the IS sponsor a preliminary capital stack view before we commit to a full engagement.

Engagement and Deal Intake Day 4–5

We define the solution scope, present the advisory agreement, and execute. The IS sponsor delivers the deal intake package: three years of financials, the LOI, any existing CIM or seller deck, and all available diligence materials. We set delivery milestones for Phase 2 before we start.

Decision Gate: Is the financial information sufficient to begin QofE and modeling? If not, we set a hard delivery deadline before proceeding. We do not start Phase 2 on incomplete data.
Phase 2
Phase 2

Light QofE and Financial Modeling

Days 3 to 12 — Pre-Outreach. Goal: normalized EBITDA validated, integrated acquisition model built, and DSCR stress-tested at 1.5x minimum in the downside case.
Light Quality of Earnings Days 3–10

We analyze three years of financials. We identify and quantify legitimate add-backs — only those a capital provider accepts without pushback. We assess revenue quality, customer concentration, and working capital volatility. We produce the 10 to 15 page Light QofE document with a normalized EBITDA bridge and material risk flags.

Decision Gate: Does normalized EBITDA support the deal thesis at the current LOI valuation? If the effective multiple is above 8x on real EBITDA, we surface it immediately. A re-trade or a walk is a better outcome than a failed raise.
Integrated Financial Model Days 7–12

We build the acquisition model using normalized EBITDA as the foundation. The model includes a five-year projection, integrated income statement, balance sheet, and cash flow statement. We size and structure the capital stack and run DSCR sensitivity analysis in the base case and the downside case. Senior debt is sized at 3 to 4x EBITDA. The SBIC or mezzanine layer, seller note, and equity are each sized and sequenced. The downside case tests revenue down 15%, margin compression of 200bps, and rate increase of 100bps.

Decision Gate: Does DSCR hold at 1.5x or above in the downside case? If not, we restructure before outreach begins. More equity, a smaller debt tranche, or a larger seller note. We do not launch a raise with a structure that fails the stress test.
Phase 3
Phase 3

Capital Architecture

Days 8 to 13 — Pre-Outreach. Goal: Design your capital stack. Map every tranche to a specific capital provider and assign risk from an investor viewpoint before the first outreach call is made.
Stack Design and Sources and Uses Days 8–11

Using the completed model, we design the final capital stack structure and produce a detailed sources and uses schedule. Every tranche is sized and labeled with the intended capital provider type, the expected cost of capital, and the amortization or return profile. We assign risk from a capital provider viewpoint — who absorbs first-loss risk, who is senior in the waterfall, and what each provider's return expectation requires from the deal structure. This document becomes the anchor for all capital provider conversations.

Capital Provider Matching Days 10–13

We identify the specific capital provider types best suited for each tranche, based on deal size, sector, geography, SBIC eligibility, and risk profile. This is not a generic list. It is a deal-specific match between the capital requirement and each LP's actual investment criteria and risk appetite.

Decision Gate: Is every tranche of the capital stack matched to a realistic capital source? If any tranche has no clear provider pathway, we restructure before moving to packaging and outreach.
Phase 4
Phase 4

Raise-Readiness and Packaging

Days 11 to 15 — Pre-Outreach. Goal: full investor package complete, internally reviewed, and cleared. Nothing launches before this gate closes.
Investor Materials Production Days 11–15

We produce the complete capital raise package. Every document is built to the standard that institutional capital providers use to evaluate IS deals. Materials are consistent across every document — EBITDA, capital structure, risk disclosure, and deal thesis all align from teaser to management presentation.

  • →Executive Summary and Teaser: 2 pages, built for initial LP distribution
  • →Investment Memorandum and CIM: 15 to 25 pages covering business, market, management, financials, and capital structure
  • →One-Page Deal Summary: optimized for family office and HNW first-read
  • →Management Presentation: 10 to 15 slides structured around the five IC questions
  • →Capital Stack Summary: one-page visual with sources and uses, DSCR, and return by investor class
Decision Gate: Materials are internally reviewed. The IS sponsor is aligned on deal positioning and risk disclosure. Every document is consistent. Nothing launches before this gate is cleared. No exceptions.
Phase 5
Phase 5

Outreach and Process Orchestration

Days 16 to 90 — 75-Day Raise Orchestration. Goal: 8 to 15 active capital provider conversations. 2 to 3 term sheets in hand before engagement closes.
Tiered Outreach Launch Days 16–35

Outreach is tiered and sequenced. Tier 1 targets warm introductions first — mutual connections, shared deal attorneys, capital providers who have worked with the IS sponsor before. Tier 2 is targeted cold outreach with deal-specific insight leading, not credentials. Every capital provider interaction is logged in the tracking system from Day 1 of launch.

Diligence Management and Term Sheet Pursuit Days 35–75

We manage all diligence requests, responding within 24 to 48 hours to maintain momentum. We coordinate between capital providers and the IS sponsor without creating bottlenecks. We use competing capital provider momentum to accelerate others. Term sheet economics are negotiated across closing fee, management fee, carried interest, DSCR covenants, and equity structure.

Decision Gate: Does the selected term sheet structure support DSCR at or above 1.5x in the downside case? Are IS sponsor economics within market range? If yes, proceed. If no, renegotiate or move to the next best term sheet.
Phase 6
Phase 6

Capital Close

Days 75 to 90. Goal: close executed, working capital confirmed, Day 1 reporting activated, first capital provider update delivered within 30 days of close.
Closing Preparation Days 75–82

We coordinate with deal attorneys on closing documents. We confirm the working capital peg against the modeled requirement and surface any shortfall before wires are sent. We confirm the revolver or working capital facility is in place. We run a final DSCR check using closing financials. All conditions precedent are verified before the close date is confirmed.

Close Execution Days 80–87

We oversee fund flow confirmation and verify receipt of all signed documents. Wire instructions are verified by phone before any funds move. The IS sponsor sends closing communications to the seller, management team, and capital providers.

Post-Close Activation Day 87+

We activate post-close services immediately: accounting system setup, chart of accounts, monthly close process, and capital provider reporting template. Working capital monitoring begins with daily cash, AR aging, and AP aging for the first 30 days. The first capital provider update is delivered within 30 days of close. We debrief with the IS sponsor and capture the anonymized case study, which becomes the first marketing asset for the next deal.

90-Day Summary

Days 1–5 (Phase 1)Discovery, capital feasibility assessment, engagement signed, deal intake received
Days 3–12 (Phase 2)Light QofE and integrated financial model completed, DSCR stress-tested
Days 8–13 (Phase 3)Capital stack designed, every tranche mapped to a capital provider type
Days 11–15 (Phase 4)Full investor package produced, reviewed, and cleared for launch
Days 16–90 (Phase 5)Outreach launched, capital provider conversations active, 2 to 3 term sheets received
Days 75–90 (Phase 6)Close executed, working capital confirmed, accounting activated, first capital provider update delivered
Start the Process

Where Is Your Deal Right Now?

Whether you are pre-LOI or already in diligence, the earlier we engage, the more we can structure in your favor.

Contact

Let's Talk About
Your Deal.

The earlier we engage, the better we can structure your raise. Book a strategy call or reach out directly. We respond within 24 hours.

Get in Touch

We work with independent sponsors in the lower middle market: $1M to $10M EBITDA targets, deal by deal capital raises, and post-close operational support. If that is you, let's talk.

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Phone
678-570-1564
in
LinkedIn
Julius Brown III

What to Expect

On the strategy call, we will cover where your deal is in the process, what the capital raise needs, which solutions apply, and what engagement looks like. No pitch. No pressure. A direct conversation about the deal.

Tell Us About Your Deal