Portfolio Valuation

We provide independent portfolio valuations and valuations of investments in private companies at fair value under ASC 820 (U.S. Generally Accepted Accounting Principles) and IFRS 13 (International Financial Reporting Standards). We help investment companies establish and maintain investment valuation policies and procedures that comply with accounting and regulatory standards. We prepare and review fair value disclosures for financial reporting purposes.

Partnership Buyouts and Buy-Sell Agreements

Partner buyouts and buy-sell agreements are commonly triggered by events such as the death or retirement of a partner. We provide an independent valuation assessment to help establish the value that one partner would pay to buyout another partner’s share of the business on a triggering event under the terms of a buy-sell agreement, and/or to resolve disputes among partners.

M&A Transactions and Business Sales

We work closely with companies in business valuations related to purchase price allocations (PPA) for Mergers & Acquisitions (M&A) transactions for U.S. tax and financial reporting purposes. For owners that are selling their business, we provide business valuations that can help make an informed decision about the viability and timing of the sale.

Valuation of General Partner Interests

We value general partner stakes in private investment funds and other types of limited partnerships and limited liability companies. We develop customized projections based on the individual company’s operational history, strategy and target returns. We used discount rates that reflect the risk-specific feature of the cash flow being value (carried interest v. management fees) and apply discounts for lack of marketability as appropriate.

Estate and Gift Taxes

We provide professional accredited third-party business valuation reports of business interests at fair market value to be filed along with Estate and Gift Tax returns. Our valuations are conducted by qualified appraisers under IRS requirements and adhere to the valuation guidelines established under Revenue Ruling 59-60 for gift and estate tax purposes.

Litigation Support

We assist shareholders and investment funds in disputes related to the valuation of interests in privately-held companies. We are prepared to testify about opinions in court or in hearings as expert witnesses. In a marital dissolution, we will work with both parties to resolve a valuation dispute and/or we will provide expert testimony for one of the parties in equitable distribution matters.

Stock Options and 409A Valuations

We provide accredited valuation reports that estimate the current value of your company’s stock at fair market value and that help you establish the exercise price of your stock options to fulfill IRS requirements under IRC 409A. Our valuations consider the unique aspects of your company and the qualitative factors that impact value in conjunction with the application of option pricing models.

Valuation of Digital Assets

As an early participant in the crypto industry, we have extensive experience in the valuation of cryptocurrencies, digital assets and crypto companies, including crypto miners and exchanges, and specialized instruments such as Simple Agreements for Future Tokens (SAFTs).

Valuation of Interests in Complex Capital Structures

We value interests in complex capital structures, including preferred stock, common stock, options, warrants, convertible notes, term loans, subordinated loans, distressed debt, simple agreements for future equity (SAFEs), royalties.