The data room opens whether you are ready or not.
Whether you are raising your first institutional round, closing venture debt, navigating a PE process, heading into an acquisition, or recovering grant funds against a deadline — the moment money starts moving, every number gets scrutinized. Investors, acquirers, and lenders have seen thousands of companies. They will find what you have not fixed. AdAstra builds the financial infrastructure before the questions start.
Tell us your timeline. We'll tell you honestly what needs to happen.
Or email phil@adastracfo.com
Seed through PE, venture debt, government grants, strategic acquisitions — the financial infrastructure required is different for each. The urgency is the same.
Each round brings more sophisticated investors asking harder questions. Seed investors want clean books and a coherent story. Series A wants unit economics and a credible model. Series B wants GAAP-compliant statements, defensible revenue recognition, and a finance function that looks like it can support the next stage. We build what each stage requires — before the ask, not after.
Lenders require ongoing compliance — borrowing base certificates, covenant testing, minimum cash reporting, financial statement delivery deadlines. Missing a covenant is not just a financial problem; it is a relationship problem with the lender and a signal problem to your equity investors. We build the reporting infrastructure that keeps you compliant and flags issues before they become defaults.
PE buyers and strategic acquirers run deep financial diligence. Quality of earnings adjustments, normalized EBITDA, working capital peg, entity structure clean-up, intercompany eliminations. They will look at everything — and they will find what you have not fixed. We close the gaps before the process starts, not during it.
Federal and state grants come with strict expenditure documentation requirements, indirect cost rate analysis, and audit exposure if not managed properly. AdAstra has led grant recovery engagements with six-figure recovery outcomes against imminent cancellation deadlines. If there is money left on the table, we know how to get it.
How you recognize revenue tells investors everything about the quality of your earnings. If your rev rec policy is undocumented, inconsistently applied, or simply wrong for your business model, it will surface in diligence — and it will cost you either time, valuation, or both.
Misclassified accounts, undocumented policies, and messy intercompany balances do not get fixed in a week. Starting 90 days out is ideal. Starting 30 days out is possible but painful. Starting the week before diligence is a negotiating disadvantage.
Breakthrough Energy, Climeworks, and Pacific Fusion — AdAstra has worked at the intersection of complex project finance, government grants, and venture-backed growth. We understand the financial structures your investors and acquirers are used to seeing.
This is the highest-urgency scenario — and unfortunately the most common one. The transaction became real faster than expected. The financials are not where they need to be. There is not enough time to do everything, so the question becomes: what is the highest-leverage work to do in the time available? AdAstra has been in this room before. We know what to prioritize.
Book a Discovery Call →This is the best possible moment to engage. There is enough runway to fix things properly rather than patch them urgently. The investors you are about to meet have seen thousands of companies. The ones who get the best terms are the ones whose financials tell a clear, credible story before anyone asks a question. We build that story — and the infrastructure underneath it.
Book a Discovery Call →Venture debt, bank facilities, and grant funding all come with ongoing reporting and compliance obligations. These are not one-time events — they are quarterly or monthly requirements that accumulate technical risk over time if the infrastructure to support them was never properly built. A missed covenant or a late grant draw-down is not just an administrative problem. It is a signal to your capital partners that the finance function is not in control.
Book a Discovery Call →Engaged on a grant recovery project where the funded program was approaching cancellation with significant recoverable funds remaining. Diagnosed the documentation gaps, assembled the expenditure evidence, prepared the draw-down requests, and worked through the compliance requirements under deadline pressure. The engagement required deep familiarity with federal grant accounting standards and the ability to work at speed without sacrificing defensibility.
Result: maximum recovery of available grant funds before program cancellation. The window was weeks, not months.
Designed and implemented the complete financial operations stack for Breakthrough Energy — the climate technology network founded by Bill Gates — covering four consolidated entities. Built from the ground up: chart of accounts, consolidation structure, reporting architecture, close process, and the controls infrastructure required to support a growing multi-entity organization with board-level reporting obligations.
Result: a financial infrastructure that supported the organization's growth and stood up to the scrutiny of its institutional investors and board.
A 30-minute call is enough to assess your situation, identify the gaps, and determine whether AdAstra is the right fit. No pitch, no proposal — just an honest conversation about your timeline and what's in the way.
Tell us your timeline and where things stand. We'll be direct about what we see and whether we can help.
Schedule Now →Or email phil@adastracfo.com