Founder Notes

Jash Gor on eChai Founder Notes

More Founder Notes

  • Image from Stir Advisors

    From Stir Advisors

    The best exits don't start when the banker enters the room. They start twelve to eighteen months earlier, in the quiet work of tightening margins, cleaning cap tables, and rehearsing the narrative until it's the one buyers repeat back to you.

    By the time due diligence begins, the outcome is largely priced in. What looks like negotiation is often just discovery, the buyer verifying what your positioning already told them.

    At Stir Advisors we treat sell-side mandates as an operating programme, not a brochure process. [...]

    Read it in full on Stir Advisors →

  • Image from Stir Advisors

    From Stir Advisors

    Most rounds are lost in the meeting before the meeting, the informal partner call that decides whether your deal even reaches the Monday partnership.

    Term sheets are downstream artifacts. If the narrative, comps, and champion are wired correctly, terms tend to normalise. If they aren't, no clever mechanic recovers the round.

    Whether equity, debt, or structured capital, dilution and cost of capital are the last things to negotiate, not the first things to fear. Clarity of use of proceeds and path to liquidity always outrank valuation theatre.

    Read it in full on Stir Advisors →

  • Image from Stir Advisors

    From Stir Advisors

    An SME IPO can unlock visibility, permanent capital, and a cleaner path to secondary liquidity, but only for companies that are operationally ready, not just growth-hungry.

    Readiness is financial hygiene, governance, and a story the market can underwrite without continuous narrative repair. The process rewards operators who prepare early and punishes those who treat listing as a PR event.

    We advise founders to treat SME IPO as a multi-quarter programme: structure, compliance pathway, investor education, and post-listing discipline, not a single filing day.

    Read it in full on Stir Advisors →

Every note →

eChai Partner Brands The partnership →