Not All Deals Are Created Equal: Why an Independent Underwrite Review Can Save You Time and Money
“I don’t have time to become an underwriting expert, but I still want to invest wisely.”
I have heard that sentence from many investors more times than I can count – and I get it. In a market where deal flow is constant and sponsor decks are polished to perfection, it is easy to overlook what really matters: the numbers behind the narrative.
That is why I want to share a bit more about the New Deal Review service I offer for busy LPs, capital allocators, and co-GPs who want a second set of eyes (and an experienced one) on the underwrite before they commit capital.
Why I Am Keeping It Small (For Now)
I have not been broadcasting it widely because this entails high-touch time-intensive service work. As such, I am keeping it intentionally small and only taking on a limited number of reviews at a time. That allows me to go deep, not wide, and ensure every review gets the attention it deserves.
What Is a Deal Review — and Who Is It For?
If you are a passive investor or capital allocator evaluating a deal, but you do not have the time (or desire) to become an underwriting pro, this is for you.
My Deal Review service is designed to provide an objective, third-party analysis of the underwrite you are presented with. This is not a surface-level glance – it is a deep dive into the assumptions, sensitivities, and realities behind the projections.
What Is Included in a Deal Review?
Here is what is involved in each review:
- A full underwrite review of the deal you have been presented with
- Independent validation of key assumptions and stress testing
- A detailed summary report highlighting areas of concern, questions to ask the sponsor, and our findings
- A 30-minute Q&A call to walk through the results with you
A deeper diligence option is also available upon request for those who want more extensive analysis.
Why This Matters Right Now
Too often, investors are relying solely on the sponsor’s materials or surface-level opinions from peers. But when real money is on the line – especially in today’s shifting macro environment -objective validation is not just nice to have. It is essential.
Whether you are an LP looking to reduce risk or a co-GP wanting added confidence before bringing in your capital partners, this is designed to give you that extra layer of clarity and peace of mind.
Takeaways for Smart Investors
If you are evaluating a deal and thinking, “Something seems off, but I can’t quite put my finger on it” – that is your signal.
- Do not skip the underwrite. The glossy pitch deck is not enough.
- Objectivity is your edge. A third-party review can uncover blind spots.
- Time is money. Let someone who lives in the numbers do the deep dive for you.
Thanks for all the DMs and inquiries that led to me sharing about it – if this sounds like something that could support your next investment decision, I’d love to connect.
Vessi Kapoulian
Deal Review Lead & Underwriting Advisor
PS: Want your next deal reviewed before you wire funds? Send me a message to learn more or reserve a slot.