GOST CAPITAL
GOST Capital provides independent investment due diligence to wholesale and institutional investors in private markets.
Capital Intelligence
Capital intelligence is the work of establishing what a private transaction actually contains before the money moves.
Investment due diligence is how that work is performed: the accounts are verified, the contracts are read, the people are questioned, and the forward risks are set out in writing.
GOST Capital performs that work for the investor, independent of the transaction and its outcome.
Services
Each engagement examines the commercial, financial and governance foundations of a business before capital is committed.
Revenue Durability
Customer concentration, contract strength and the quality of recurring revenue.
Contracts
Term, termination and change-of-control provisions in material agreements.
Management and Ownership
Governance, track record and related-party dealings.
Earnings Quality
Normalised earnings, cash conversion and ledger-level testing.
Structure and forward risks
Valuation, dilution and deal terms, plus the risks likely to emerge over the next 12 to 24 months.
The GOST Standard
GOST is the standards system the Soviet Union built, its name short for government standard. It governed everything from engineering documentation to the formulation of food, and the rule behind it was absolute: a product could carry its name only if it met the specification. Change what was in it, and it had to be called something else.
A private transaction is presented the other way around. The valuation rests on assumptions chosen by the seller, the adjustments are made in the seller’s favour, and the terms that matter sit in documents the investor is given little time to read. The investor carries the risk and is asked to decide on the vendor’s version of events.
GOST Capital takes it apart. We unwind the adjustments and test them, trace the assumptions back to the documents behind them, read the contracts for what they actually oblige, and put the questions that matter to the people running the business. What the company is worth to you follows from that, not from the case made for it.
Every engagement is held to that standard, and every finding is supported by the document or ledger entry behind it. If the deal is sound, the report will say so plainly. If it isn’t, you will know before the money moves.
About
Leon Ianowitzky has spent more than seven years in finance — investment analysis at Australian Silicon Valley, fixed income derivatives product control at National Australia Bank, and private client advising at Vested Equities. He has raised capital for private companies and screened private transactions for family offices, stockbrokers and high net worth clients, so he has seen the same deal from both sides of the table.
GOST Capital was founded after seeing private deals that looked clean prove otherwise. The failure was rarely in the analysis. It was that no one involved was paid to be sceptical.
Bachelor of Commerce (Finance), Griffith University. RG146 compliant. Accredited Derivatives Adviser, Levels 1 and 2.