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Everything spectup publishes

Six formats, on one page.

62Write-ups6Comparisons4Calculators16Episodes9Letters1Research
/ 01

Who publishes it

Two accounts, two halves of a mandate. The subjects under each name are the ones each of them actually posts on most.

spectup on LinkedIn
Niclas SchlopsnaNiclas SchlopsnaManaging Partner On LinkedIn Global fundraising, capital raising trends and technology developments. He also writes The Raise or Die Letter and hosts Deal Makers (& Fakers).Capital by geographyCapital raisingAI and deep techVenture and exitsLPs and family officesEdwin MikEdwin MikPartner & Head of IR On LinkedIn How limited partners and family offices decide, and what makes a fund manager easy to back. He also posts on capital concentration data and off-market deal origination.Limited partnersFund positioningCapital concentrationOutbound systemsDeal origination
/ 02

Deal Makers (& Fakers)

16

The people who just closed a round or a deal, on how it actually got done. For anyone raising, allocating or buying.

Deal Makers (& Fakers), presented by spectup
59 minDr. Andreas SchmidtInvestor, Springboard Health Ventures

The Biggest Problem in Startup Fundraising Isn't Money

There is money in the market. What's actually missing is someone willing to lead the round.

Watch ListenLead investorsRound leadershipCapital supply

Every episode

The show on Spotify The channel on YouTube
Dr. Andreas SchmidtThe Biggest Problem in Startup Fundraising Isn't MoneyAndy GoldsteinHow to Spot Unicorns in 2026?Sam Tidswell-NorrishHow Private Equity Actually Works? The $10B PlaybookChristian RebernikHow to Raise $15M & Build a University?Denis KalyshkinWhy This $400M Fund Ignores SaaS?Vlad SarcaFrom a €15M market operator to a €30M VC – Secrets of a Venture CapitalistDr. Emanuela MaggioniFrom academic research to raising €4.5M Capital for AI-powered Scent TechKirk DonohoeFrom Mastercard to Raising $5M from 20VC on a WeekendArmon ShareiHe raised $400M for Biotech, an MIT PhD and a secret to the Roche deal.Florian Myter€75 MRR and 3 Customers, and then Figma Pivoted Him to €1.2M.Marnix StokvisA Cold DM Booked the Ex-Philips CEOJames MarksThe AWS Insider Who Saw a $500B InefficiencyJuanjo MestreHe Raised €2M at Just €70K ARR, Without Pitching a Single InvestorDr. Nick KanopoulosHe Raised €18.6M+ For A Deeptech Startup During Greeks CrisisLars EickhoffHe Built A 24‑Person PropTech. 19% MoM. $0 VC Funding.Jessica LiewShe Raised $1M Pre-Seed in Berlin – How Jessica Liew Did It
You have closed something worth an hour of tapeApply to come on the show
/ 03

Write-ups

62

Filed under 10 subjects, newest first.

Capital Introduction: How It Works and Who Offers ItCapital Introduction: How It Works and Who Offers ItFund Placement & GP CapitalDeal Sourcing: How PE Buyers Reach Owners Before a SaleDeal Sourcing: How PE Buyers Reach Owners Before a SaleM&ABuy-and-Build Strategy: How PE Platforms Price Add-OnsBuy-and-Build Strategy: How PE Platforms Price Add-OnsM&AConfidential Information Memorandum (CIM): What Goes in ItConfidential Information Memorandum (CIM): What Goes in ItM&AContinuation Fund: LP Elections, Pricing and the Next FundContinuation Fund: LP Elections, Pricing and the Next FundFund Placement & GP CapitalLehman Formula: How M&A Advisory Fees Are CalculatedLehman Formula: How M&A Advisory Fees Are CalculatedM&AThe Sell-Side M&A Process: 9 Steps From Mandate to SigningThe Sell-Side M&A Process: 9 Steps From Mandate to SigningM&APre-IPO Funding Rounds: Structure, Investors, LockupsPre-IPO Funding Rounds: Structure, Investors, LockupsPrivate Placements & InstitutionalSeries B Funding in 2026: Valuations, Investors and TermsSeries B Funding in 2026: Valuations, Investors and TermsGrowth-Stage Capital (Series A+)Fund of Funds: How FoFs Pick Managers and Charge LPsFund of Funds: How FoFs Pick Managers and Charge LPsFund Placement & GP CapitalPrivate Equity Secondaries: LP-Led, GP-Led and NAV PricingPrivate Equity Secondaries: LP-Led, GP-Led and NAV PricingPrivate Placements & InstitutionalAngel Investing Trends 2026: What Changes in Your Next RoundAngel Investing Trends 2026: What Changes in Your Next RoundInvestor Targeting & RelationshipsAI Fundraising Tools for Startups: Where AI Stops in a RaiseAI Fundraising Tools for Startups: Where AI Stops in a RaiseInvestor Targeting & RelationshipsHow Much Does a Pitch Deck Cost in 2026? What Sets the PriceHow Much Does a Pitch Deck Cost in 2026? What Sets the PriceCapital Raising MaterialsTerm Sheet vs LOI: What a Seller Signs and What It StartsTerm Sheet vs LOI: What a Seller Signs and What It StartsM&AWhat Is a Pitch Deck? Meaning, Slides and Who Reads ItWhat Is a Pitch Deck? Meaning, Slides and Who Reads ItInvestor Targeting & RelationshipsAirbnb Pitch Deck Analysis: All 14 Original SlidesAirbnb Pitch Deck Analysis: All 14 Original SlidesCapital Raising MaterialsInvestor Outreach: A Step-by-Step GuideInvestor Outreach: A Step-by-Step GuideFundraising Process & StrategyVenture Capital vs Investment Banking: Who Works for WhomVenture Capital vs Investment Banking: Who Works for WhomM&APrivate Placement Memorandum: Contents, Rule 506 and FilingsPrivate Placement Memorandum: Contents, Rule 506 and FilingsPrivate Placements & InstitutionalHow to Raise Venture Capital: A Step-by-Step PlaybookHow to Raise Venture Capital: A Step-by-Step PlaybookFundraising Process & StrategyPitch Deck Outline: The 12 Slides and What Each Must ProvePitch Deck Outline: The 12 Slides and What Each Must ProveCapital Raising MaterialsTAM SAM SOM: Worked Examples and What Investors TestTAM SAM SOM: Worked Examples and What Investors TestCapital Raising MaterialsStartup Funding Stages: Pre-Seed to Pre-IPO, ExplainedStartup Funding Stages: Pre-Seed to Pre-IPO, ExplainedFundraising Process & StrategyWhat Is a Private Equity Placement Agent?What Is a Private Equity Placement Agent?Private Placements & InstitutionalBusiness Exit Strategy: Trade Sale, PE, MBO or IPOBusiness Exit Strategy: Trade Sale, PE, MBO or IPOM&A & Secondary MarketsSilent Partner vs Investor: What Owners Give Up and KeepSilent Partner vs Investor: What Owners Give Up and KeepPrivate Placements & InstitutionalInvestment Memo: What PE and Corporate Committees ReadInvestment Memo: What PE and Corporate Committees ReadM&AHow Long a Pitch Deck Should Be: Perfect LengthHow Long a Pitch Deck Should Be: Perfect LengthCapital Raising MaterialsInvestment into a Startup Company: How It WorksInvestment into a Startup Company: How It WorksInvestor Targeting & RelationshipsNon-Dilutive Funding Guide for StartupsNon-Dilutive Funding Guide for StartupsNon-Dilutive Capital & AlternativesLimited Partner Agreement: What LPs Negotiate in 2026Limited Partner Agreement: What LPs Negotiate in 2026Fund Placement & GP CapitalVenture Capital Fund Structures: GP Commits and CarryVenture Capital Fund Structures: GP Commits and CarryFund Placement & GP CapitalBridge Rounds: When, Why, and How to Structure ThemBridge Rounds: When, Why, and How to Structure ThemFundraising Process & StrategyWhat Is a Virtual Data Room? Guide to Investor Due DiligenceWhat Is a Virtual Data Room? Guide to Investor Due DiligenceFundraising Process & StrategyChoosing a VC Fund Administrator: The 2026 FrameworkChoosing a VC Fund Administrator: The 2026 FrameworkFund Placement & GP CapitalInvestor Due Diligence: Founder's GuideInvestor Due Diligence: Founder's GuideFundraising Process & StrategySeries A Traction Metrics: Benchmarks & Investor RequirementsSeries A Traction Metrics: Benchmarks & Investor RequirementsGrowth-Stage Capital (Series A+)Family Office Investing: How to Access Patient CapitalFamily Office Investing: How to Access Patient CapitalPrivate Placements & InstitutionalConvertible Notes for Capital Seed RaiseConvertible Notes for Capital Seed RaiseNon-Dilutive Capital & AlternativesHow VCs Make Investment Decisions?How VCs Make Investment Decisions?Fundraising Process & StrategyAngel Investors Vs. Venture Capitalists: Which Path FitsAngel Investors Vs. Venture Capitalists: Which Path FitsInvestor Targeting & RelationshipsPitch Deck Traction Slide: Metrics That Move InvestorsPitch Deck Traction Slide: Metrics That Move InvestorsCapital Raising MaterialsVenture Debt Financing: What Founders Get WrongVenture Debt Financing: What Founders Get WrongFundraising Process & StrategyPre Seed Funding: Raise $100K–$500K Without Over-DilutingPre Seed Funding: Raise $100K–$500K Without Over-DilutingFundraising basicsPre-Seed vs Seed Funding: Key Differences & GuidePre-Seed vs Seed Funding: Key Differences & GuideFundraising basicsCorporate Venture Capital: 5 Strategic Goals & 2026 TrendsCorporate Venture Capital: 5 Strategic Goals & 2026 TrendsFundraising Process & StrategyHow to Get Warm Introductions to InvestorsHow to Get Warm Introductions to InvestorsInvestor Targeting & RelationshipsWhat Do VCs Look For? The 4 Pillars Investor FrameworkWhat Do VCs Look For? The 4 Pillars Investor FrameworkFundraising Process & StrategyHow to Send Pitch Deck to Investors StrategicallyHow to Send Pitch Deck to Investors StrategicallyFundraising Process & StrategyHow to Present a Pitch Deck That Closes Funding RoundsHow to Present a Pitch Deck That Closes Funding RoundsCapital Raising MaterialsPitch Deck vs Business Plan: When to Write EachPitch Deck vs Business Plan: When to Write EachCapital Raising MaterialsSeed Funding: The Metrics That Separate Closes from DeclinesSeed Funding: The Metrics That Separate Closes from DeclinesFundraising basicsStartup Valuation: How Founders Actually Get Funded in 2026Startup Valuation: How Founders Actually Get Funded in 2026Fundraising Process & StrategyTerm Sheets Explained: What Founders Get BackwardsTerm Sheets Explained: What Founders Get BackwardsFundraising Process & StrategyFinancial Pitch Deck Slide: Design That Closes InvestorsFinancial Pitch Deck Slide: Design That Closes InvestorsCapital Raising MaterialsHow Pitch Deck Changes by Stage: What Investors ExpectHow Pitch Deck Changes by Stage: What Investors ExpectCapital Raising MaterialsHow to Protect Your Idea When Pitching It to InvestorsHow to Protect Your Idea When Pitching It to InvestorsCapital Raising MaterialsFinancial Projections for Startups: Build One That SurvivesFinancial Projections for Startups: Build One That SurvivesFundraising Process & StrategyCompetitive Slide Pitch Deck: What Investors Actually WantCompetitive Slide Pitch Deck: What Investors Actually WantCapital Raising MaterialsKey Metrics Investors Look for in Startups - Our GuideKey Metrics Investors Look for in Startups - Our GuideInvestor Targeting & RelationshipsPost Money Valuation vs Pre Money: What Founders MissPost Money Valuation vs Pre Money: What Founders MissFundraising Process & Strategy
/ 04

Comparisons

6

The firms a company or a fund shortlists, ranked. spectup is in all 6 and the case against it is in each one.

/ 01Best Private Placement Agency in 2026: 12 Firms ComparedThe shortlist12spectupEaton PartnersRede PartnersAsante Capital GroupMonument GroupCampbell LutyensFirst Avenue PartnersPJT Park HillEvercore Private Funds GroupProbitas PartnersUBS Private Funds GroupLazard Private Capital Advisory/ 02Best Startup Consulting Firms in 2026: 10 ComparedThe shortlist10spectupWaveupDeloitteBain & CompanyGrowthRocksKruze ConsultingScalabilityCayenne ConsultingStartupConsulting.com415 Group/ 03Best Pitch Deck Design Agencies in 2026: 14 ComparedThe shortlist14spectupSlidebeanHalo LabPitch Deck CreatorsSupersideWaveupHype PresentationsM'idea HubPitchDeck.comSketchDeckCayenne ConsultingPerfect Pitch DeckPitch Decks DesignVan York Agency/ 04Best Capital Raising Firms in 2026: 11 ComparedThe shortlist11spectupDealMakerCapstone PartnersClearsight AdvisorsGrowthink CapitalHyde Park CapitalPMCFVenero Capital AdvisorsCrewe CapitalLantern Capital AdvisorsGVC Capital/ 05Best Pitch Deck Consultants in 2026: 12 Firms ComparedThe shortlist12spectupSlidebeanWaveupQubit CapitalBlack Sheep Business Consulting (Bsbcon)UpmetricsBenjamin Ball AssociatesWhitepageThe Chalifour Consulting GroupAnna MazarskyCayenne ConsultingStory Pitch Decks/ 06Best Fundraising Consultants for Startups in 2026The shortlist10spectupQubit CapitalWaveupGrowthink CapitalMarquee EquitySlidebeanFoundterraMontfort VenturesFounded PartnersKasper Consultants
/ 05

Calculators

4

The arithmetic a term sheet turns on, run in the browser.

/ 01Business Valuation CalculatorTakes3EBITDA and add-backsnet debt or net cashmultiples and cash flow assumptionsReturns3enterprise value at three multiplesequity valuea discounted cash flow check/ 02Cap Table Management CalculatorTakes3holders and their sharesthe option pooleach round's money, pre-money and pool targetReturns3each holder's shares and stakeprice and shares per roundthe holders' stake round by round/ 03SAFE Conversion CalculatorTakes2each SAFE or note: amount, cap, discount, typethe priced round and pool targetReturns3shares and stake per instrumentthe table after conversioncommon with and without the SAFEs/ 04Liquidation Preference CalculatorTakes2the exit price, expenses and carve-outeach class: multiple, participation, cap, seniorityReturns3the payout to common and to each classwhich classes convertthe same stack at five prices
/ 06

The Raise or Die Letter

9

What we see in the market before it prices in.

Every issue
The Raise or Die Letter

It goes to 2,000 B2B financial decision makers. Put your address in and it goes to you.

Free, and every issue is public.

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Capital Ecosystem had its moment in SeptemberLatestCapital Ecosystem had its moment in SeptemberThe Capital-Raising Mistakes Everyone Made While on HolidayThe Capital-Raising Mistakes Everyone Made While on HolidayEurope does not have a founder problem. It has an investor problem.Europe does not have a founder problem. It has an investor problem.$185B, a Chinese open model, and 4 things from my calls$185B, a Chinese open model, and 4 things from my callsAway From the Desk, and Back to It tooAway From the Desk, and Back to It tooI moved apartments while watching the market.I moved apartments while watching the market.The Future Is Here. The Capital Knows It. You're Not Ready.The Future Is Here. The Capital Knows It. You're Not Ready.Why Your Fundraising Desperation Is Killing Your RoundsWhy Your Fundraising Desperation Is Killing Your RoundsFundraising isn’t broken. But most advice is.Fundraising isn’t broken. But most advice is.
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