Very nice story.
Show me the numbers.
What happens when the deal narrative meets the evidence.
Every transaction starts with a story.
Strong growth. Recurring revenue. Loyal customers. Attractive margins. A convincing forecast.
Then the questions begin.
At our first Caveat Emptor conversation, we look beneath the deal narrative and into the evidence — not through another presentation on financial due diligence, but through a live transaction scenario, candid conversation and interactive FDD.
- What is really driving the growth?
- How much of the revenue is genuinely recurring?
- Which customers are carrying the business?
- What happens when the forecast meets reality?
Would you buy it?
The deal beneath the deal
Technology is changing the businesses investors buy, the economics that underpin them and the assumptions on which transactions are built. But the most interesting questions are often not found in the pitch deck.
Drawing on decades of technology M&A and financial due diligence experience, Jonathan Benaim and Evolution Capital bring the deal beneath the deal into the room. This first conversation explores what happens when a compelling technology business meets the scrutiny of an experienced buyer.
The confession session
Every deal has the version that makes it into the board pack. And then there is everything else. Jonathan Benaim shares lessons from years of technology transactions and financial due diligence — the things that looked harmless, the questions that should have been asked earlier, and the assumptions that became problems later.
What have experienced dealmakers learnt the hard way?
The business
A technology business lands in the room. The headline numbers look good. You will hear the story, see the numbers a buyer might see at first glance, and then be asked to make a judgement.
Would you buy it?
Open the data
Once the room has made its judgement, we open up the evidence. The picture changes. Or perhaps it doesn't. Either way, the interesting part is understanding why.
The conversation
Financial due diligence is ultimately about judgement. What matters? What doesn't? What deserves another question? And where can apparently strong performance conceal a very different underlying picture?
We explore how investors, CFOs, founders and advisers can approach those questions before they become expensive ones.
Speakers / participants: NULLWhat you'll take away
- What sits behind headline growth
- How buyers assess revenue quality
- The importance of customer cohorts, concentration and retention
- Where forecast assumptions can distort an investment case
- The questions experienced dealmakers ask early
- How interactive data can change the way FDD is understood
Who should be in the room?
CFOs & Finance Leaders
Looking beyond the reported numbers to understand performance, risk and future value.
Technology Founders & Shareholders
Thinking about growth, investment, valuation or an eventual transaction.
Private Equity & Investment Professionals
Assessing technology businesses and the assumptions underpinning investment cases.
M&A Professionals & Advisers
Looking at transactions through the evidence, not just the deal narrative.
The morning at a glance
Event details
Part of the Caveat Emptor series
Across three conversations, Evolution Capital brings investors, CFOs, founders, technology leaders and experienced dealmakers together to examine the stories behind technology transactions. What is the business really worth?
Very nice story. Show me the numbers.
The AI premium: who's paying for the future?
Everything is going to be fine. Probably.
Request an invitation
This is an invitation-only event with limited places. If you would like to join us for Very Nice Story. Show Me the Numbers., tell us a little about yourself and we'll be in touch.
- Request a Confidential Consultation
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