The numbers
What are the full costs, where does the funding come from, and what are the risks if the plan doesn’t work out? And what needs a grant rather than an investment?
Due diligence
Due diligence, from every angle.
Before anything is decided, we look at a case from several angles at once: the numbers, the impact, the people and how it fits your portfolio. Each has its own diligence. Together they give you one picture, with every finding traceable to its source.
- Several diligences
- One case
- Every finding
- Traceable to its source
- People interpret
- AI does the groundwork
Four angles, one case.
Each angle has its own diligence. We run them side by side to get a full view of the project. That way we can see if the entire story makes sense on a project level, impact level, people level and systemically.
The impact
What does it change, for whom, and how sure can we be? We look through four lenses (ecological, economic, social and narrative) and explore the full impact thesis of the project.
The people
Who’s behind it, and can they carry it? We look at the team, how decisions are made, and what the legal structure allows.
The bigger picture
How does it fit your portfolio, investment thesis and the change you want to support? And what role could it play in the wider system you’re supporting?
A closer look at the numbers.
Financial diligence is where we drill down on the numbers. We bring all the documents of a case together (the accounts, the plan, the cap table, the contracts) and check that they tell the same story. Every important conclusion links back to the page, sheet or cell it comes from.
Illustrative review example
- Claims linked to a source
- 92%
- Revenue, cash and cap table checked
- Complete
- Open questions on impact
- 3
- Still based only on what management told us
- 1
Gather
We sort the data room, spot missing documents and build one case file.
Check
We reconcile the figures, calculate how long the cash lasts, the debt and the possible returns, and verify key claims outside the documents.
Challenge
A separate review looks for contradictions and weak reasoning, and tests what happens if things go worse than planned.
Bring together
One readable report: a short version for everyone, with the detail and sources for those who want them.
Before and after the diligence.
Diligence doesn’t start with a data room. It starts with a conversation: is this project worth a closer look, and do we fit each other? The project gets to check us too.
After the diligence, we sit together to decide what it means. Our team and the wider collective interpret the findings, and we always share what we found with the project as well. The decision stays with you as investor.
And the answer isn’t always yes or no. A case can lead to:
- Invest
- Grant
- Introduce
- Convene
- Keep an eye on it
- Not now
The case doesn’t end with the report. What we learn along the way goes back into the next decision.
Inside the reports
Explore the detail behind the overview.
Preview three pages, then request the complete sample from our team.
Evidence, material questions and review coverage
A 16-page evidence-led company review spanning financial performance, operating resilience, governance, impact relevance and system dependencies.