The when and why of raising, building, and selling a company.
Most startup instruction teaches the what and the how. Fitzroy & Co. helps founders decide whether, when, and why, from the first dollar raised to the last term sheet.
The Ledger is free and needs no signup.
Raising $300,000 for 15% of your company costs $1,500,000 at a $10,000,000 exit. That is $5.00 of exit value for every $1 you raise.
The first of three decisions: what raising capital costs. Move the sliders to try your own numbers.
One company, three decisions
A founder's biggest financial choices come in a sequence: what to raise, what to build, and when to sell. Each gets its own course, and each rewards the same habit of asking when and why before how.
Raise
The Price of Money
Whether and when to raise capital, and what it really costs once dilution, your time, and delay are counted.
Capital Ledger is live See the courseBuild
Value Before Valuation
What creates company value before an investor or a buyer ever puts a number on it.
In development Join the waitlistExit
The Last Term Sheet
The time to exit: whether, when, and why to sell, hold, or wait.
In development Join the waitlistThen work through your own decision
The courses teach the framework. Advisory applies it to your company, your numbers, and your timing.
One-to-one sessions for founders facing a real decision: whether to raise, how to build toward the next stage, or whether to sell. Many people start with a course. Others come straight to a session.
A teacher's framework, built on deal experience
Brian Bartles teaches venture finance and entrepreneurship at SMU's Cox School of Business. His background spans investment banking, venture capital, private equity, and hedge fund management, and he has founded and run companies of his own.
The courses grew out of one observation: founders are taught in detail how to raise money, build, and sell, and are rarely taught to ask whether, when, and why.
- Teaching
- SMU Cox School of Business, 14 years
- Program
- Developed the Venture Finance Certificate Program
- Background
- Investment banking, venture capital, private equity, hedge funds
Follow along as the courses open
Occasional notes on the when and why of raising, building, and selling a company, and first word as each course opens. No spam, and you can leave any time.