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Strategic advisory
Operator judgment for the calls without a clean answer. Growth, go-to-market, revenue operations, transaction readiness. The thinking we used to do from inside the business, available before the capital is committed.
An operator firm built by people who scaled and sold SaaS, cloud, and payments companies through three IPOs. We built Valence to measure how far a business has drifted from the thesis you bought it on, while there is still time to act.
Nobody causes this. It is what operating businesses do.
At acquisition, the thesis is sound. A price gets paid for a reason, and on that day the assumptions hold.
Then the business lives its life. Customers move, pricing shifts, costs accrete, entities get bolted on. Quarter by quarter it drifts from what was underwritten.
Most firms find out how far it went during a buyer's diligence, a refinancing, or an LP review. By then the leverage is already gone.
We are not the advisory firm that arrives, presents a deck, and disappears. We work with investors, operating partners, and CFOs at the points in a hold period where getting it wrong gets expensive.
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Operator judgment for the calls without a clean answer. Growth, go-to-market, revenue operations, transaction readiness. The thinking we used to do from inside the business, available before the capital is committed.
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We pressure-test what management presents against what is actually happening underneath it. Revenue quality, cost structure, margin durability, the risk a standard process is not built to find.
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The same discipline, running continuously. Valence measures Thesis Drift across a portfolio, quarter after quarter, so the gap between thesis and reality is something you manage instead of something a buyer discovers.
Explore ValenceValence normalizes a portfolio company's economics on a consistent framework, then tracks its drift from thesis to reality.
The consequence has a name. Enterprise Value Drift. Valence puts a number on it while it is still cheap to fix.
"Two companies, same fund, same vintage. Different drift profiles. That difference is the conversation."
The entry point
5 days
The Thesis Drift Assessment. Two portfolio companies, delivered to the board, applied in full toward the subscription.
Lou Cofini
Founding Partner, SharedVentures
A firm of two partners. We back and operate businesses we believe we are uniquely placed to build. Right now, that focus is Valence.
I spent decades inside SaaS, cloud, and payments businesses, working revenue, finance, and corporate development. Three IPOs. Complex enterprise deals. Revenue organizations grown from early traction to hundreds of millions in ARR. For most of it, I was in the middle of the growth, not studying it afterward.
The call always came at the same moments. Growth slowing for no obvious reason. A transaction on the table. A board that needed to know what was real before it signed.
And the same pattern, every time. The business in the reporting and the business underneath it had quietly come apart. Not because anyone hid anything, but because that is what happens to a company over a hold period.
SharedVentures came from that experience.
Valence came from watching good firms get surprised by their own portfolios, one too many times.
Nobody caused this. But someone has to see it.
No pitch and no deck. A direct conversation about what you are looking at and whether we are the right people to help. If we are not, we will tell you that too.