Project: Advisory Services
Location: India (Mumbai)
Description: Provided advisory assistance to a mid-market PE firm. We supplied training sessions to portfolio company CEOs, facilitated strategy off-sites for the firm’s staff, and developed an annual research project.
Project: Custom Research: Evaluation of VC Activity in Low-Earth Orbit
Location: North America (DC)
Description: Assessed the history of VC investments in low-earth orbit, with a special focus on interactions involving the International Space Station. Based on desk research and interviews, the final report described historical activity and recent changes, noting the activity of privately funded work in nano- and micro-satellites, non-government launch vehicles, and launch concierge services.
Project: Custom Research: Value Creation from the CEO’s Perspective
Location: North America (NYC)
Description: Researched the day-to-day methods of adding value to portfolio companies. We interviewed CEOs who implemented value creation programs in 12 companies acquired by private equity firms known for their ability to improve operations. Augmented by academic research and interviews with private equity firm partners who specialized in finance and operations, we determined the “4 Ps” of value creation.
Project: Custom Research: Diverse Asset Management Firm Assessment
Location: North America (Miami)
Description: Quantified the representation of women and ethnic/racial minorities in ownership positions at asset management firms in the United States. Compiled and analyzed data from several commercial databases for the mutual fund, hedge fund, private equity, and real estate industries. Examined trends in diverse ownership over time and assessed the performance of funds managed by diverse-owned firms compared to non-diverse funds. View the full report here.
Project: Custom Research: Five Papers on Emerging Markets
Location: Global (Client is in Middle East)
Description: Using proprietary data as well as publicly available information, the five-paper series provides a comprehensive assessment of emerging markets with respect to the evolution of private equity investment, exits, minority and majority investments, successful investing, and the structure of their public and private markets.
Project: Custom Research: VC Ecosystem Assessment
Location: South East Europe (Balkans)
Description: Assessed the existing penetration and familiarity with VC for small countries in South and Eastern Europe. Based on 60+ interviews and exhaustive desk research, we examined the state of the countries’ VC ecosystems and identified legal and regulatory changes necessary to create a more welcoming environment.
Project: Performance Review: Benchmarking & Attribution Analysis
Location: China (Shanghai)
Description: For a major emerging markets PE fund, we compared overall and fund-by-fund performance against relevant global public- and private-market benchmarks, and allocated the sources of value creation. Where necessary, we adjusted results for currency fluctuations. This report is updated on a quarterly basis. For the attribution analysis, we used our proprietary technique, informed by academic research and industry best practices, to determine the gains produced by leverage, market timing, and value creation.
Project: Performance Review: Benchmarking Analysis & Strategic Review
Location: Middle East
Description: Compared overall and fund-by-fund performance against relevant global public- and private-market benchmarks. We also examined strategies that a mid-market Middle East PE firm could use to expand.
Project: Policy Evaluation: VC Impact Assessment
Location: Latin America (Argentina, Colombia, Brazil)
Description: Analyzed the impact of a major Development Finance Institution’s s investments in three different types of VC funds across the continent. Extensive desk research wove into the findings of interviews with 80 people to create case studies of the funds, profile key portfolio companies, and provide recommendations for strategic adjustments and future investment activities. View the final report here.
Project: Policy Evaluation: Innovation Program Assessment
Location: Australia (Queensland)
Description: Assessed the impact of efforts to encourage innovation and entrepreneurship in one of Australia’s states. Based on interviews with 120+ individuals and extensive desk research, we traced the impact of these efforts and considered ways to target spending for more immediate results.
Project: Policy Evaluation: Investment Strategy
Location: Africa/South Asia
Description: Researched the impact of the investment strategy pursued by a global emerging markets Development Finance Institution. Based on interviews and desk research, we determined the lessons to be learned from a fund-of-funds strategy relative to a direct investment approach.
Project: Strategic Review/Advisory Services
Description: Conducted an in-depth review of a mid-market PE firm’s options for growth, along with evaluating its internal structure. We continued the relationship in an advisory capacity, attending the annual LP meeting, holding monthly check-in calls, and producing an annual research project.
Project: Strategic Review: Focus on Corporate VC Efforts
Location: North America (CA)
Description: Analyzed a Fortune 100 company’s corporate VC efforts and provided a series of recommendations for enhance effectiveness. The report was based on a series of interviews with executives who interacted with the VC effort in various ways, as well as CEOs and external venture capitalists who had worked with the group.
Project: Training: Conference Organization
Location: Latin America (Colombia)
Description: Designed and executed the program for a conference sponsored by a major Development Finance Institution, including the development of custom program cases and materials. This annual forum provides an opportunity for fund managers to share experiences and network. We have worked with the sponsors for two of the past three events.