Pre-deal diligence advisory for GovTech investment

At a glance

The challenge

A global private equity firm managing $200bn+ in assets under management required executive support during diligence for a first-time investment in the GovTech sector.

The solution

Nova delivered rapid access to senior GovTech operators, identifying and engaging C-level executives with direct experience in US state and local government technology markets.

The impact

The appointed advisor supported diligence ahead of a $3bn+ transaction, which was successfully closed within weeks.

Client objective

The client sought senior operating insight to support diligence on a first-time investment in the GovTech sector, where internal domain expertise was limited. The priority was to access a credible, first-hand perspective on market dynamics, customer behaviour and commercial risk.

The advisor was expected to provide informed challenge to the investment thesis, support diligence workstreams, and help the investment team assess the scalability and durability of the target business ahead of investment.

Nova in action

Nova worked with the technology investment team to define the advisor profile and scope of diligence support.

Within 24 hours of initial outreach, Nova presented a slate of 40+ C-level GovTech executives operating within the US state and local market. Five advisors were engaged in discussions over the following week.

The client ultimately partnered with the former Chief Revenue Officer of a $200m+ PE-backed GovTech business. Approximately three weeks after the advisor was engaged, the firm successfully closed the transaction.

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