Fund Restructuring

Azione provides advice to corporate venture capital (CVC) units and their parent companies on the restructuring, refocusing, or resizing of their funds. Our approach to fund restructuring includes the analyses of stakeholder interests and evaluation of options amongst key interested parties.

Occasionally it becomes desirable for the CVC unit to reform their management composition and investment mandate due to changing market conditions. In many cases, availability of additional funding to support portfolio companies may also be desirable. Our team provides creative solutions to situations of this nature, working with the CVC unit to create a satisfactory solution for the unit and the parent company alike.

We have a broad range of experience assisting clients with:

  • Analysing the investment mandate of the CVC unit and its financial projections
  • Restructuring the balance sheet and selling non-core assets or entire companies
  • Advising on distressed companies – whether they should be sold or refinanced
  • Providing M&A advisory services and managing the sale process to maximise valuations
  • Providing expert valuation and testimony services

Azione views fund restructuring as a disruptive event in the life of a fund, which leads to a complete redefinition of relationships amongst the CVC unit, its parent company, and any limited partners and venture capital firms involved. We seek to maintain the necessary trust and professionalism between all parties throughout the negotiation process.

Fund Life Extension

Restructuring solutions might take the form of fund transfer, extension or recapitalisation, top-up fund, annex fund, bridge fund, or spin-offs. They allow CVC units to extend the size, investment period, and overall life of their funds. Expiring management contracts can be renegotiated on new economic terms.

CVC executives can redeploy capital on existing portfolio companies and pursue new investment opportunities. Azione is supportive of such solutions and see them gaining momentum.