Bootstrapper M&A Support

Andrew describes starting Tenzing, a modern investment bank focused on helping bootstrap founders navigate financial options like selling their business, raising capital, or doing secondaries. The firm targets businesses doing $500K-$5M in profit that are typically overlooked by traditional investment banks.

Key Points:

• Target Market:

  • Bootstrap founders who don't know how to access capital
  • Companies doing $1-5M in EBITDA
  • Some clients doing up to $10M ARR with $3M profit

• Services Offered:

  • Help evaluate all financial options
  • Guide through bank credit options
  • Support M&A activities
  • Enable secondary sales
  • Assist with raising debt

• Key Differentiators:

  • Not fee-driven like traditional banks
  • More aligned with long-term founder interests
  • Speaks founders' language vs traditional banker jargon
  • Focus on bootstrap businesses vs VC-backed
  • No suits and formal banking culture

• Business Model:

  • Acts as financial translator between founders and finance world
  • Leverages network of funds and financial connections
  • Long-term relationship focused vs transaction focused
  • Named after Tenzing Norgay (famous sherpa) to emphasize guidance role