Square’s IPO filings give us the chance to look at the VC financing of a unicorn. We wrote back in August on the upward distorting effect on valuation of liquidation preference…
High-growth and early-stage companies are essential to the economy. But investors sometimes find it hard to understand their business models, which can prevent companies from accessing the funds they need to grow.
Because these companies are such a small part of the investable universe, few European investors devote enough bandwidth to understanding them.
US investors are more attuned to growth, and keen to look beyond the saturated American market. However, they do expect firms to look, sound and behave a certain way.
We can help you bridge the gap by helping investors quickly understand your business, while contributing to corporate development, financial planning & analysis and strategy, so you reach the right investors with the right messages and access the funding you need armed with a real understanding of how your business is valued.
The benefits to you are a broader pool of potential shareholders who understand your business and trust management, a better understanding of the value-drivers of your own business, better preparation for investors’ questions and a sense-check of your strategy and management structure.
We have two decades’ experience of equity analysis at bulge-bracket investment banks, and latterly of in-house investor relations and corporate development, plus numerous links with investors, analysts and executives globally.
We help companies communicate their strategy to investors and integrate their public messaging with internal strategy and management reporting.
We work with a small number of European firms, usually listed, soon to list, or start-ups who often have activities or business models that are difficult for investors to understand and quantify.
Our clients value us for our long experience and relationships in the investment world, deep-dive understanding of their business, and our ability to take the investor’s perspective and explain complex business models clearly and simply.
We work rather like traditional management consultants: we can work on a monthly retainer, take on specific projects or offer a combination of the two. Because we work on a retainer basis, we are not conflicted by the temptation to earn higher fees by encouraging clients to raise capital or make acquisitions.
We can work in a purely advisory capacity, or hands-on within your firm in a part-time role. We would expect to meet face-to-face at at your location, and we also have meeting facilities in our Cannon Street office in the City of London.
Our service depends on an in-depth understanding of your business. We prefer to play an active part in your company and investor meetings and work closely with your management team, broker, M&A banker and PR agency. To create maximum value we expect to be engaged for a period of six months or more.
Andrew worked as an award-winning equity analyst in the engineering, industrials and technology sector from 1993 to 2011, and then moved into corporate investor relations before founding Oakhall.
He spent 13 years at Merrill Lynch, where he was Managing Director of the European technology research team. The role took him across Europe, Asia, and North America, speaking at conferences and advising investors and companies.
He then moved into industry, working for mobile software company Monitise. Initially Director of Market Intelligence, he later became Senior Vice President of Industry And Investor Relations. Key projects in this role included two large institutional equity funding rounds totalling over £200m, and one strategic partner round of £50m.
Andrew holds a degree in Electronic Engineering from the University of Southampton and qualified as a Chartered Accountant with PWC. He is a member of the Institute of Engineering and Technology (IET) and Tech London Advocates.
Jonathan was a highly ranked equity analyst covering the technology sector from 2000 to 2011 and then moved into advisory and operational roles with several technology start-up businesses before joining Oakhall.
He spent 12 years at Cazenove and Merrill Lynch where he was the senior sector analyst on the European Semiconductor research team. While at Cazenove, he was the lead analyst on the IPOs for Wolfson Microelectronics and CSR.
He then worked in advisory and operational roles with several early stage technology companies in financial technology, social media, and network infrastructure. He assisted founders with end market analysis, financial modelling, fundraising and business development and built on his experience in research. Most recently he was Chief Operating Officer at Vox Markets.
Jonathan trained as a Chartered Accountant with Deloitte and graduated in Natural Sciences from the University of Cambridge. He is a member of the Investor Relations Society.
33 Cannon Street
London EC4M 5SB
+44 20 3393 0633