Investment Advisory

Commercial / Business Due Diligence (CDD)

Q: How is CDD different from financial or legal diligence?

CDD tests the business reality—demand, competition, pricing, unit economics, funnel, and plan quality. Financial DD audits the numbers; legal DD covers contracts, licenses, IP, and compliance. We coordinate with those advisors and feed them our findings.

Q: Can you be engaged buy-side and sell-side?

Yes, but not simultaneously on the same asset. We run conflict checks and work only on one side per mandate.

Q: Do you provide site visits and secret-shop?

Yes—on request. For EdTech, we test onboarding and support; for institutions, we perform structured visit checklists.

Q: Will you talk to customers, agents, and partners?

Yes—consent-based interviews/surveys plus sample quality checks; we never spam.

Q: Can you integrate your findings into our model?

Yes—we provide driver updates and scenarios for your model (or build a compact driver model if needed).

Q: Will you join IC/board discussions?

Happily—we do a focused readout with Q&A and stay available through close.

Validate demand, competition, unit economics, GTM/admissions engine, and forecast quality for education investments. Clear red flags, scenario-tested inputs, and a value-creation roadmap.

2–4 Week Engagement 100–180 Day Value Plan Buy-Side & Sell-Side

Overview Scope Tracks Deliverables Method FAQs

Case Study: Commercial Due Diligence — Indian Tech Book Publisher

Market sizing, unit economics, channel margins, rights/IP risk, customer voice & 100-day plan

Read Case Study →

We run Commercial / Business Due Diligence for education investments and partnerships. In 2–4 weeks, we validate market demand, competitive position, pricing & unit economics, go-to-market/admissions engine, retention & cohorts, regulatory context, and forecast quality. You get a clear red-flag view, scenario-tested model inputs, and a value-creation roadmap for the first 100–180 days.

Who This Is For

Investors & lenders (angels, VC, growth/PE, family offices, banks/NBFCs)
Strategic buyers/partners evaluating M&A/JVs
Promoters & boards seeking an objective view before committing capital

When to Use CDD

Pre-term sheet / pre-IC to shape valuation and asks
Confirming a thesis before exclusivity
Stress-testing a fund-raise or sale narrative (sell-side readiness)

Outcomes & Decisions

Go / No-Go / Re-price with evidence
What to fix before close (and what to monitor post-close)
Where the growth headroom actually is
Realistic ramp, CAC/payback, and margin expectations

Workstreams

Scope of Work

Comprehensive commercial assessment across 11 workstreams.

Market & Demand Validation

TAM/SAM/SOM, growth drivers, seasonality, price bands, willingness-to-pay

Customer & Stakeholder Proof

Rapid interviews/surveys with parents, students, schools, agents; NPS/CSAT signals

Competition & Positioning

Mapping by segment/board/program; differentiation, moats, substitution risk

Product/Program Fit

Outcomes promised vs delivered; curriculum/regulatory fit; roadmap realism

Pricing, Unit Economics & Cohorts

Price architecture, LTV/CAC, payback, cohorts by geography/segment; churn & expansion

GTM / Admissions & Sales Engine

Lead flow, funnel conversion, agent/channel governance; pipeline quality and forecasting

Operations & Capacity

Staffing model, utilisation, SLAs, ERP/LMS footprint, service quality variance

Regulatory & Compliance

Board/regulator context (CBSE/ICSE/IB; UGC/AICTE); coordinate with legal counsel

Financial Bridge & Forecast Quality

Bridge historic to plan; test key drivers; sanity checks vs peer benchmarks

Risks & Sensitivities

RAG risks, mitigation options, scenario tests (admissions ±X%, pricing ±Y%)

100–180 Day Value-Creation Plan

No-regret moves; KPI pack; governance rhythm; quick wins vs foundational fixes

Specialization

Tracks We Specialise In

Deep expertise across education sub-sectors.

EdTech (B2C/B2B/B2G)

PLG vs sales-led motions, reseller/partner economics
App store/web funnels, cohorts, retention, paywalls, refunds
Enterprise/campus pipeline quality, deal hygiene, security/IT basics

K-12 Institutions / Groups

Catchment demand, fee bands, enrolment ramps, admissions health
Teacher/leadership staffing, PTRs, service quality, transport/safety
Compliance/affiliation posture, capex/opex realism

Higher-Ed / TNE

Program portfolio fit, admissions calendar, agent networks
Partnerships (twinning/joint/dual, articulation), student services
Recognition/quality assurance context (with counsel for formalities)

Outputs

What You Receive

Comprehensive deliverables for informed decision-making.

CDD Report (PDF)

Executive summary, findings by workstream, RAG risks, management responses, recommendations

Assumptions & Scenarios Pack

Driver sheet for ramp, pricing, CAC/productivity; downside/upside scenarios

Funnel & Cohort Diagnostics

Conversion ladder, channel mix, LTV/CAC/payback tables

Customer/Stakeholder Voice Deck

Anonymised quotes & stats from interviews/surveys

Data Room Checklist & Gaps Log

Comprehensive checklist with documentation gaps identified

100–180 Day Value-Creation Roadmap

Owners, cadence, KPIs; quick wins vs foundational fixes

Process

Method & Cadence

2–4 week engagement with weekly check-ins and mid-engagement playback.

Kickoff & Data Room

Request list, stakeholder map, access setup

Rapid Customer/Partner Work

Interviews, surveys, shop-tests with consent

Analytical Sprints

Market + competition; cohorts + unit economics; funnel + pipeline analysis

Management Q&A

Challenge/clarify assumptions with leadership team

Readout

CDD report + scenarios + value-creation plan; IC/board presentation available

Questions

Frequently Asked Questions

How is CDD different from financial or legal diligence?

Can you be engaged buy-side and sell-side?

Do you provide site visits and secret-shop?

Will you talk to customers, agents, and partners?

Can you integrate your findings into our model?

Will you join IC/board discussions?

Evaluating an Education Asset or Partner?

Let's scope your Commercial / Business Due Diligence mandate.

Schedule a Discussion