Tribal Ventures is a boutique consulting and M&A advisory firm that helps technology companies maximize their future exit opportunities. They position companies to be acquired by analyzing ecosystem relationships, structuring partnerships, scaling business operations, and developing talent. Tribal Ventures' services include landscape mapping, partner prioritization, business modeling, partner outreach, talent development, M&A preparation, advisory, and deal closing support. Their goal is to take the pressure off client companies during the acquisition process.

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B U Y S E L L I N N O V A T E S C A L E
h t t p : / / t r i b a l .v e n t u re s
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WE HELP
COMPANIES MAXIMIZE THEIR
FUTURE EXIT OPPORTUNITIES © T r i b a l V e n t u r e s , 2 0 1 7

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A B O U T
U S
A B O U T U S
We are a boutique consulting and M&A advisory firm
for the software and technology sector.
We believe there's more than one path to a successful
outcome for tech companies and their founding teams.
We position and prepare companies to maximize their
exit opportunities.
We do this by getting companies thinking early about
o analyzing possible ecosystem relationships
o structuring key partnerships
o scaling appropriate business operations
o scaling their team and talent
B U Y S E L L I N N O V A T E S C A L E
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Worked in 2 startups & public company > $7B
market cap
Ran Corporate Development, Strategic
Investments and Business Development for
Cadence Design Systems
Involved in over 50 M&A transactions over her
career
M O N A S A B E T
Expertise at the intersection between
neuroscience, leadership and innovation
Chief Learning Officer at FOUNDER.org, a
venture capital firm dedicated to supporting
exceptional student led enterprises at premier
universities
Lead program designer for SheEO
L O R E N W A L S H
Broad executive operational experience.
Ran variety of departments, from sales and field
operations to product management.
Participated in many M&A diligence projects.
Drove $3B restructuring effort for large tech
company.
S A N D E E P M E H N D I R A T T A
GET TO KNOW US
T H E T R B I A L T E A M
W E S U P P L E M E N T O U R C O R E T E A M W I T H A B O R A D E R N E T WO R K
O F I N D U S T RY E X P E R T S
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R E L AT I O N S H I P S
M AT T E R
The most successful
acquisitions build
relationships with
acquirers from the very
beginning
T H E R E A R E M A N Y PAT H S
T O S U C C E S S
Sometimes the best way
to extend the reach of
your technology is as part
of a larger company
instead of as a standalone
T I M I N G I S N ’ T O F T E N I N
YO U R C O N T R O L
The optimum time for you
to sell, for your investors
to exit, and for your
acquirers to buy are often
different
WHY DO I NEED TO THINK ABOUT ACQUISITION NOW?
S C A L I N G W I T H T R I B A L A D V I S O R S
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A WINDOW INTO THE MIND OF AN ACQUIRER
R E V E N U E
representing at least 5%
of acquirer’s revenue
T E C H N O L O G Y + P E O P L E
at least 2 person years
worth of core technology
development
R E L A T I O N S H I P S
industry consolidations
entry into new markets
user acquisition
T H E R E S T
IP acquisitions
acquihire
who knows!
T R I B A L A D V S I O R S S C A L I N G P H I L O S O P H Y
$$$
Acquisition decisions are made on the basis of a handful of “value drivers” that we group into 4 categories
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Credits: Paul Graham, Gartner, Michael Luni
valuetofoundingteam
time
new
business
“product-market fit”
(tech + people acq’n)
trough of disillusionment
(scaling investment ≠ value 
“engagement”
(relationship acq’n)
“growth”
(revenue acq’n)
NEW TECH COMPANY LIFE CYCLE

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Credits: Paul Graham, Gartner, Michael Luni
valuetofoundingteam
time
new
business
“product-market fit”
(tech + people acq’n)
trough of disillusionment
(scaling investment ≠ value 
“engagement”
(relationship acq’n)
“growth”
(revenue acq’n)
NEW TECH COMPANY LIFE CYCLE
sometimes you need outside
experts to help you assess
when your local valuation
maxima come around

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Startups don’t think
about exits the way
acquirers do.
VC’s have one path to success.
You can create many successful
flight plans.
They think about
exits the way VC’s do.
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WHAT
WE DO
W H AT W E D O
T R I B A L A D V I S O R S
B U Y S E L L I N N O V A T E S C A L E
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Identify & categorize key market players
Identify & articulate company’s value drivers
Map value drivers against market landscape
Use landscape map to better understand value of
business from an acquirer’s point of view
L A N D S C A P E M A P
Develop assessment framework
Assess strength of value drivers for each
market player using assessment framework
Use results to prioritize value driver focus and
partner reach out plan
P A R T N E R P R I O R I T I Z A T I O N
Is your business model a value driver or detractor?
Assess and, if needed, develop more effective
methods and structures for
• delivering value to customers
• capturing value for stakeholders
B U S I N E S S M O D E L I N G
Develop pitch decks based on value drivers,
partner categorization and assessment
framework for up to 4 prioritized customers
Implement partner reach out to generate 2
new partner discussions
P A R T N E R R E A C H O U T
Assess team’s contribution to company
value drivers
Create and implement talent
development plans
T E A M & T A L E N T
T R I B A L A D V I S O R S .
M&A PREP
SERVICES
An acquisition is usually the biggest
event of a company’s existence…
…and its timing is often outside of a
company’s control.
To maximize your exit opportunities, you need to invest in
• understanding your acquisition landscape
• optimizing to build out the most valuable relationships
• securing the value drivers that are most important to
your potential acquirers
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Position Company materials to highlight value
drivers
Prepare due diligence data room
Negotiate initial discussions with interested parties
S C R E E N I N G P R E P
Ensure pricing discussions match term sheet
Negotiate escrows, survival of reps, caps on
liabilities, key employee terms
Ensure tax impact is understood
T E R M S H E E T N E G O T I A T I O N
Manage tax issues
Manage accounting requirements
Prepare payment distribution spreadsheet
Prep for funds transfer
F I N A N C I A L A N A L Y S I S
Due diligence is often the most time
consuming part of the acquisition process.
Unlike most investment bankers, we actively
help you navigate the due diligence process so
you can drive the acquisition forward while
still operating your business.
D U E D I L I G E N C E M A N A G E M E N T
Negotiate to closure the final business reps and warranties.
Advise and negotiate escrows, holdbacks and payment
distribution. Handle the gotchas that always come up at the last
minute. Minimize post-closing events.
D E A L N E G O T I A T I O N & C L O S E
T R I B A L A D V I S O R S .
M&A
ADVISORY
We take the pressure off you.
You have to work with the acquirer after
the deal closes. We can be the “bad guy”,
negotiating those tough deal terms on
your behalf so you can maintain the
relationship.
How we differ from most investment bankers
• investment bankers rarely get you another offer – they come to
the process to late; we work with you early enough to prime your
market segment
• investment bankers rarely get you better pricing – we don’t
pretend we’ll be able to do that
• investment bankers rarely do the diligence and negotiation work
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Companies underestimate
the amount of work it takes
to get from an initial
expression of interest to a
term sheet offer
Prepare due diligence room
while negotiating term sheet
Months 3 - 6
Term Sheet Delivered
Closing conditions met
Stockholder consents
Closing documents signed
Payment distributions
Term Sheet + 30-60 days
CLOSING
Ideally, you have been
cultivating these relationships
for at least one year.
Month 1
Expressions of Interest
EXAMPLE PRIVATE COMPANY ACQUISITION PROCESS
Key terms: price, holdback,
tax, key employees
Month 4 – 7
Term Sheet Signed
Disclosure schedules
Reps & Warranties
Financial Statements
Payment Distribution
Spreadsheet
Key Consents
Term Sheet + 30-60 days
Acquisition Negotiation
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GET IN
TOUCH
GET IN TOUCH
T R I B A L A D V I S O R S
B U Y S E L L I N N O V A T E S C A L E
mona@tribal.ventures