AI DUE DILIGENCE

What a target's AI is worth.

A diligence workstream for funds and corporate acquirers. Not AI running your diligence — a rigorous assessment of the target's AI: its exposure, its claims, its substance, delivered inside the timeline of a live process.

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THE PREMISE

The asset is the AI. The risk is that it isn't what the data room says it is.

A target's AI is now part of the thesis — sometimes the whole of it. It earns a multiple, it justifies a price, and it is rarely what the data room claims.

The vendors are closed, the models are third-party, the adoption is unmeasured, and the moat is asserted more often than it is tested.

The question on a live process is not whether AI is in the business — it is whether what is there is worth what you are about to pay for it.

OUR CLIENTS

Who it is for.

SEGMENT 01

Private equity funds

Buying software or AI-enabled targets where the AI is part of the thesis and part of the price.

SEGMENT 02

Corporate acquirers

Strategic buyers assessing whether the target's AI is real, defensible and theirs to keep.

SEGMENT 03

Venture capital funds

Backing AI-first companies at the round — sizing whether the AI is real, defensible and worth the valuation before the check is written.

SEGMENT 04

Growth equity

Minority investors sizing AI risk and substance before the round closes.

THE ASSESSMENT

Five angles, one report.

Exposure

How AI moves the business model. For software targets: can an AI-native entrant rebuild this? For everything else: where AI lands, what it saves, what it erodes.

Claimed vs. observed

What management says about its AI, tested against what actually runs. Tools, workflows, adoption, measured results. The gap, graded.

Technology & data

Ownership, licensing, model dependencies, tooling in place, data quality, portability, technical debt.

Governance & compliance

EU AI Act, GDPR, IP, access controls, data retention across the target's AI vendors.

Replication test

For software targets. We rebuild the core of the product from public information only, on a set timebox. If the code is the moat, the test says so. If it isn't, you know before you sign.

Findings report

One document, straight to the numbers. Each finding quantified as a cost range, tested against the business plan, or graded and routed to an SPA mechanism — with its source next to it.

THE BOUNDARY

Every finding leaves the report one of three ways.

Every finding leaves the report one of three ways — quantified as a cost range, tested against the business plan, or graded and routed to an SPA mechanism.

Every figure carries its source. Nothing floats.

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