Perusal Global

Frequently Asked Questions

Internal due diligence is shaped by the deal team's existing position on the transaction. The bias is usually toward finding reasons the deal works, because the deal team has invested time and reputation in getting it to the commitment stage. Our commercial due diligence is structured to find the specific risk that changes the decision: the assumption underlying the revenue projection that the management presentation does not acknowledge, the competitive dynamic the financial model does not capture, and the governance or regulatory exposure that sits in the structure of the business rather than its headline numbers. We are not invested in the deal proceeding. That is the analytical value we provide.

A pitch deck agency produces a presentation. We build the financial architecture that the presentation has to be consistent with. The valuation basis, the scenario analysis, the IRR and exit multiple projections, and the cap table mechanics are established before the deck is designed: the deck is then built on top of that foundation rather than as a parallel document that broadly aligns with it. When the investor opens the model, asks about the assumptions, or runs their own scenario, the answer to every question is already in the analytical work. That is a different brief from deck design.

Secondary research establishes the analytical landscape: what published market reports, transaction databases, and sector benchmarks show about the size, structure, and competitive dynamics of the market. Primary research tests whether that landscape reflects how the market is actually moving: expert interviews, channel checks, and field research that surfaces the pricing dynamics, customer acquisition patterns, and competitive behaviour that do not appear in published data. The two work together because secondary data tells you what the market looks like on paper, and primary intelligence tells you which parts of that picture to trust and which to revise before the model's assumptions are set.

Yes, but the financial architecture at each stage is different and the valuation framework has to reflect that. A Seed round model is built around unit economics, burn rate, and the milestone the capital is being raised to reach. A Series C model is built around a three-statement integrated forecast, comparable transaction analysis, and IRR projections for institutional investors underwriting the specific return profile they need at that stage. A pre-IPO model is built to the standard an equity analyst will interrogate in the first week of coverage initiation. We build each model for the specific investor class and capital stage, not from a general template.

No. Every Research Advisory output goes out under the client's name. Equity research is published under the brokerage's brand. Fundraising materials carry the founder's or the company's name. Due diligence reports are produced for the deal team's internal use. We produce the analytical work. The client owns it, publishes it, and takes responsibility for it. Perusal does not appear in the output, the distribution, or the client relationship.

A focused red-flag due diligence engagement, structured to surface the specific risks affecting a transaction at the point of commitment, typically runs two to four weeks from briefing to report. A full commercial due diligence covering revenue assumption validation, competitive landscape assessment, and governance and regulatory risk, with primary research interviews, typically runs four to eight weeks depending on the complexity of the business and the number of markets covered. For transactions where the timeline is compressed, we scope to what the deal window requires and are direct about what can and cannot be validated within that constraint.