The financial preparation that precedes a capital raise – the model, the reporting, the historical accuracy, the governance – is not something that can be assembled in the weeks before a process begins. Investors and their advisors are experienced at identifying businesses where the financials were prepared for the raise rather than built to run the company. That distinction is visible, and it affects both the outcome and the terms.
What this engagement covers
- Financial model development – a defensible, investor-grade model with an integrated three-statement structure, scenario analysis, and the KPI architecture institutional investors will stress-test.
- Historical financial review and cleanup – ensuring the last three years of financials are accurate, consistently presented, and tell a coherent story under scrutiny.
- Data room preparation – organizing the financial documentation that investors and their advisors will request, structured to minimize diligence friction and response time.
- Management presentation support – developing the financial narrative and supporting analysis for investor meetings, board presentations, and lender conversations.
- KPI framework design – defining, measuring, and presenting the operating metrics that institutional investors in the relevant sector expect to see tracked consistently over time.
- Investor and lender Q&A preparation – preparing the leadership team to answer detailed financial questions with precision and without hesitation.
Who this is built for
Founders and CEOs approaching a first institutional raise – Series A, Series B, or a significant debt facility, whose current finance team has not been through this process before. Also relevant for businesses preparing for a subsequent round, with a clearer understanding of what the process exposes and what needs to be addressed in advance.
When to engage
Six to nine months before the intended raise. The value of financial preparation compounds over time. Engaging two weeks before a process begins limits what is achievable and puts the leadership team in a position of explaining problems rather than demonstrating preparation.
What Krishnan brings
The perspective of someone who has been on both sides of significant financial transactions – inside businesses being evaluated and inside organizations doing the evaluating. That context shapes what gets prepared and how it gets presented.
What typically needs to be in place before a raise
- Three years of clean, audited or reviewed financial statements with consistent accounting treatment.
- A financial model that the management team can defend at a granular level under extended questioning.
- A defined set of KPIs tracked consistently over time, with clear definitions and no retroactive adjustments.
- A cap table that is accurate, current, and has been reviewed by counsel.
- A board reporting cadence that demonstrates financial governance, not just periodic compliance.
- Clear documentation of revenue recognition policies, particularly for businesses with subscription, milestone, or multi-element arrangements.