$24m
Series A — in-space servicing
Exclusive financial advisor to the company
Case studies
Two raises. Both closed. Both still clients.
We would rather show you two transactions we can explain in detail than a wall of logos we cannot. Every mandate below is presented with the company's permission; anything we cannot name, we do not list.
$60m
Growth equity + equipment financing — inference capacity
Exclusive financial advisor to the company
Amounts and dates shown are illustrative placeholders pending permissioned disclosure.
01 How each one actually went
The part a tombstone cannot tell you.
I
In-space servicing — Series A
The company came to us with eleven months of runway, flight-proven hardware, and a deck that opened with an addressable-market chart. The diagnostic found the real asset in week one: a contracted services backlog nobody had bothered to present because it "wasn't the exciting part."
We rebuilt the case around that backlog, modelled the servicing economics per vehicle rather than per market, and ran a twenty-nine name process in three waves. Two term sheets landed in the same week — which is not luck, it is the calendar working as designed. The round closed with a lead the founders had never heard of before we introduced them.
II
Inference capacity — growth round
The ask arrived as a single number: a growth equity round in which most of the proceeds bought hardware. The equity story was being asked to carry an asset purchase, which made the round both too large and too dilutive — and limited the field to investors willing to fund depreciation with equity.
We split the ask. The hardware moved into an equipment financing facility secured against the fleet and its contracted utilisation; the equity raise shrank to what actually needed underwriting — the operating business and its terminal. The smaller equity cheque widened the investor field, and the blended cost of capital came down materially. The structure was the advice.
02 What is not here
No logo walls, no borrowed credentials.
You will not find the transactions we worked on at previous employers presented as the firm's own, or advisory roles inflated into leads. Two closed mandates is a short list. It is also every raise we have ever run under this name, told truthfully — and each one comes with a reference you can call.
03 Next
The third one could be yours.
We take a maximum of three mandates at a time, and we decline more than we accept. Early conversations get the best of us.