Being highly specialised in early-stage and startup valuations in uncertain environments, we help them understand the financing and exit process, validate the strategy and financial projections, prepare investor-ready documents fit for purpose, and optimise early-stage transactions.

Alithea (from Greek, also ‘Aletheia’) stands for truth, discovery, unconcealment.

 

There is Value in truth and in transparency when making business decisions. Today, we possess many tools to come as close as possible to estimating how a company will perform: Valithea has refined these tools to make it possible to create realistic financial projections from the very early stages, and to issue valuations that take all leading and early-stage valuation methods into account, as well as following the most recent market trends, with a commitment to have trustworthy, informed and transparent financial transactions involving new and fast-growing companies.

We are skilled at working with industry experts and technology-oriented individuals, and are able to combine your knowledge and strategy with our financial knowledge to create financial documents and strategies that are fit-for-purpose. We work with clients as a team towards set goals, understand your sector expertise, have clear communication and transparent business practices.

With experience of working in the most innovative sectors, all methods and documents are constantly adapted to changing markets, upcoming trends, new sectors and enriched by the industry knowledge of clients. Valithea is active globally and has worked on projects from the largest startup hubs to innovative projects in developing countries. We follow the highest standards in all of our work, and valuations are carried out according to NACVA’s Professional Valuation Standards.

Valithea’s mission is to create an efficient way to increase the transparency of early-stage investments through innovative and advanced analytical methods and development of stage-related valuation standards. We are working on issuing practical industry publications and know-how, bringing innovative services to the market to increase the quality and trust in early-stage investments.

The consultancy projects have transparent flat fees, set timelines and set goals – after developing the most efficient methods based on years of working with clients. Most services can easily be purchased online by agreeing to the Terms & Conditions, which include our confidentiality responsibility, or you can request a personalised online contract if you prefer. Bespoke and on-site projects are possible for larger companies or transactions.

Sectors

Certification & Skills

Unique Methods

CERTIFICATIONS

A member of:

SKILLS

• Market Sizing
• Competitors’ Analysis
• Advanced Financial Modelling in Excel for companies, power plants, real estate developments, energy efficiency projects
• Financial Statements Analysis IFRS/ GAAP
• Equity Analysis & Knowledge of the CFA Curriculum
• Financial and Capital Markets Research
• Databases: Bloomberg, Capital IQ, Thomson Reuters, GuruFocus, Crunchbase, Mergermarket, Thomson Eikon, Bureau van Dijk databases, Factiva, Dun & Bradstreet, Perfect Information, Corpfin, OneSource, Lexis-Nexis, Euromonitor
• Startup Fundraising Process, Investment readiness, Cap Tables & Term sheets
• SME Capital Raising Process
• Complete M&A Sales Process and documentation
• Investors’ selection, approach & valuation negotiations
• Exit Strategy and Value Maximisation
• Liquidity Planning
• Valuation: Valuation standards; Income, market and asset approach; Valuation of SMEs; Startup
  Valuation; Purchase price allocation and impairment tests; Valuation of intangible assets; International valuation; Indemnity and inheritance valuations; Squeeze-out; Shareholders’ Exit; Joint Ventures; Investors’ portfolio holdings; Beta Calculation, Discounts and premiums
• Indicative Real Estate Valuation
• Mining Valuation
• Financial & Commercial Due Diligence
• Restructuring Analysis
• Feasibility Analyses
• Market Expansion Research
• Pitch Decks and investor-ready Business Plans (Power Point)
• Impact Investments

Through our market projection technique, we can project customer numbers with a low margin or error. With a top down approach (necessary for most companies) we assess TAM, SAM and SOM, analyse how many competitors are in the same space, your company’s competitiveness, resulting penetration (and how it changes over time) and churn.

The basic business model planning techniques are too static for startups, and therefore we illustrate the business model base on how each item influences prices and costs, the role that market forces play and how the features of the business model develop over time. Envisioning the medium-term strategy dramatically reduces the risk of failure.

We have researched and used startup and early-stage valuation techniques for a number of years, and have adapted all available methods to current startup trends. We have selected around 15 sub-methods and hybrid methods to choose from, which enable us to value startups more precisely, assessing risks, earning potential, future exit value and transaction clauses.

Having worked both in classical M&A and in the early-stage startup fundraising market, we have developed the best techniques of both worlds to be used by early-stage companies. We have recently launched new services aimed at creating a new approach to fundraising, by incorporating both strategic consulting and advanced-investor ready documents, with web marketing and an online communication process with investors.