Venture capital and growth investors
For venture and growth investors backing B2B SaaS, we test whether a go-to-market motion is repeatable at the next stage rather than whether it worked at this one, on a round timetable. After the round, we work inside portfolio companies where the commercial engine is the constraint on the next raise.
The problem you have
You are taking a minority position, so you never get control and rarely get the access a buyout gets. The commercial case is a thesis about a company with a few million in recurring revenue, no analyst coverage, and a founder who is still the best salesperson in the building. You have days rather than weeks, the round closes with or without your conviction, and the question that decides the outcome, whether this motion survives being handed to a sales team, is the one a data room cannot answer.
What this is worth to you
A read on repeatability rather than on traction: which parts of the motion are the product, which are the founder, and what it actually costs to make the second one transferable. Delivered on a round timetable and written so it can go into an investment memo. After the round, the same work continues inside the company, because for a minority investor the commercial engine is usually the constraint on the next raise and the one thing a board seat alone cannot fix.
Where it fits in your process
Commercial Thesis Review
No seller access needed. It runs on the information you already hold and on public and inferable signal, before you have a seat at the table.
A Commercial Thesis Review is an early, independent commercial opinion on a B2B SaaS acquisition or investment target, formed before the seller opens anything. We read the information you already hold, and what the company shows publicly, with over a decade of SaaS commercial operations behind the reading, and tell you whether the case survives first contact, what to test next and whether the target is worth an exclusivity period. It runs in 4 to 6 weeks.
4 to 6 weeks.
Commercial Assessment
Runs with seller cooperation. Primary interviews and live sales call observation are what separate this from a Commercial Thesis Review.
A Commercial Assessment is full buy-side commercial diligence on a B2B SaaS target, run with the seller's cooperation and alongside the financial, legal and technical workstreams, not in place of them. It answers whether the growth potential is real, whether the commercial engine works without the founder, what the market says when nobody is preparing the answer, and how the company should be selling instead. It runs in 6 to 12 weeks and ends in our commercial opinion, the levers for the negotiation and what should change after the close.
6 to 12 weeks.
GTM Engine, first 100 days
Runs after the close or the round, in focused working sessions with the company's key executives rather than across a table from them.
GTM Engine is a 100-day engagement after the close or the round that turns diligence findings, ours or those of the diligence already done, into a working commercial plan for a B2B SaaS company. We work as the owner's or investor's commercial adviser, in focused sessions with the company's key executives, across the ideal customer profile, the GTM plan, pricing and packaging, the sales process and the operating dashboard. The plan is built with the team, and the team does the work.
100 days.
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