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Commencing in the Spring of 1999, we were approached
by a former MD from a FTSE 100 group of companies to assist him
with a dot.com start up in recruitment services.
We worked with him throughout the summer acting
as a sounding board, adding our ideas and challenging all of
the assumptions made as the plan developed. We undertook the
preparation of a financial model which went through many iterations
in terms of the underlying economics and scale of the activities
being planned. Due to the growth anticipated and the scalability
of the plans, much of the working capital requirement was accommodated
through leveraging receivables with the balance to be found
through convertible loans or equity.
We assisted in the raising of long term capital
via the preparation of introductory memoranda that were used
to support discussions we initiated with potentially interested
funds. We assisted in the content and making of presentations
and in the negotiations with funds that became serious contenders
for investment, in the latter stages working with the lawyers
involved to ensure that the final deal remained true to the
needs of the business and delivered a sound foundation for future
growth.
We were particularly pleased to see our client
featured in the Sunday Times list of the top 100 Internet businesses
recently and proud of our association with this success story.
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