Writing
Working notes rather than commentary. Each piece answers a question founders in blockchain and fintech ask us often enough that writing it down once is more useful than answering it privately twenty times. Nothing here is investment, legal or tax advice.
Due diligence · 9 min read
Team, structure, regulatory footing, technology, traction, treasury and the state of the data room — in the order they are examined, and what each one is really testing.
Read the articlePepperstone, IG, Bullwaves, XTB, Saxo and Interactive Brokers ranked by Germany-facing entity clarity, platform fit and total cost.
XTB, IG, Bullwaves, Saxo, Interactive Brokers and AvaTrade ranked by Spain-facing entity clarity, platform fit and total cost.
Separate operating assets from uncertain runway before choosing debt, equity or a staged plan.
IG, XTB, Bullwaves, Saxo, Interactive Brokers and Pepperstone ranked by France-facing entity, platform fit and total cost.
Equity, convertibles, SAFEs, revenue-based facilities, grants and token instruments each postpone a different argument. What each postponement costs when it finally arrives.
Diligence is not a test of how good the company is. It is a test of whether what the founders said matches what the documents show.