Practice Area 03
We engineer capital structures and manage formation processes for growth-stage companies, independent sponsors, and emerging fund managers — from Series B equity rounds to fully-architected fund vehicles. Principal-led. Backed by proprietary technology that compresses every phase of the process. Scalable to your timeline and complexity.
The difference between a company that closes its Series B in 12 months and one that struggles to attract institutional capital is rarely the quality of the underlying business. It is almost always the quality of the capital structure, the investor narrative, and the process discipline brought to the raise.
Holding Advisory has managed $250M–$500M in capital formation activity across technology, life sciences, education, and financial services sectors. Engagements are led at the principal level and supported by a network of senior capital markets, legal, and structuring specialists deployed to match the complexity of each raise. Our proprietary in-house tooling compresses investor materials preparation, financial modeling, and process management by 50–75% versus conventional timelines — so clients launch faster, respond to investor diligence faster, and close sooner.
Company-Level Capital
Fund & GP Formation
All engagements described in anonymized form consistent with client confidentiality obligations.
Retained as GP advisor to design and implement the complete fund architecture for an advanced medical research investment fund targeting institutional and family office limited partners. The mandate encompassed LP/GP legal structure design, management fee and carried interest economics calibrated to both emerging manager conventions and LP market expectations, and full capital call and distribution waterfall modeling across multiple return scenarios. A distinctive element of the engagement was the design of a self-funded ManageCo vehicle — allowing the GP to maintain operational independence and reduce LP dilution concerns from day one. All investor materials, fund documents, and LP presentation materials were developed under our advisory.
Managed the end-to-end capital formation process for a founder-led EdTech SaaS company seeking a Series B institutional round. The company had demonstrated strong product-market fit and unit economics but lacked the institutional investor materials and process discipline required to run a credible formal raise. We developed a comprehensive investor package — detailed financial model with five-year projection, investor presentation, data room architecture, and supporting diligence materials — and managed all aspects of LP/investor outreach, process scheduling, and term negotiation. The company's story was positioned not as an education technology play but as a critical enterprise software platform with defensible recurring revenue and quantifiable switching costs.
As part of the broader reverse merger transaction advisory for a life sciences company, our capital formation mandate included designing the full offering structure for the public market vehicle — investor presentation, Private Placement Memorandum, and the capital raise mechanics to be executed concurrent with or immediately following the public shell merger. The offering structure required careful navigation of SEC Rule 144 restrictions, shell company taint periods, and resale registration requirements — each of which materially affected the capital raise timeline and investor eligibility criteria.
Beyond the highlighted transactions, Holding Advisory has managed over ten capital formation engagements spanning seed equity, convertible notes, venture debt, and PIPE transactions across technology, healthcare, real estate, and financial services. Each engagement reflects our methodology: institutional-grade materials, investor-aligned structure, and a disciplined process that respects both the capital provider's diligence requirements and the company's operational reality. Aggregate capital facilitated in this category: $250M–$500M.
Capital Formation
Capital formation is not a sales exercise. It is a structural engineering problem — and the firms that raise on best terms treat it as one from day one.