Independent minds. Shared ground.UK & US · An international outlook

Republic of Investors

A publication & private communityFor those who think like owners

The lead · Buying a business

01 / Dispatches

How to read a business-for-sale listing in ten minutes

Most listings tell you what the seller wants you to see. Here is how to find what matters, and when to walk away before you waste a week.

Read the Dispatch
Fig. IThe real economy
Behind every number, a business.

The private community

Capital is personal.
The conversation need not be.

For people who buy, build and back businesses. A place to ask better questions.

Apply to join £100 a month · Admission by application

02 / From the publication

Fresh ink. Clear thinking.

All Dispatches

Angel investing

How angel syndicates work and what the lead does

An angel syndicate lets a group of investors back one company together behind a single lead who finds the deal, negotiates it and holds everyone's stake in one vehicle. Here is how that works and what to check before joining one.

Due diligence

Customer concentration risk: how much is too much

There is no single percentage that makes a business too dependent on one customer to buy. Here is how accountants, regulators and buyers actually test the risk, and how to price it before you commit.

03 / A common interest

Read. Question.
Think for yourself.

A publication in public.
A conversation in private.
Your own conclusions.

01

Dispatches

Clear thinking on buying, building and backing private companies. Read beyond the headline.

Open the paper
02

Deal flow

Understand the business, the people and the questions behind an opportunity.

Examine the approach
03

The community

Compare notes with investors and operators. Make room for a different point of view.

Take a closer look
04

Events

Deal reviews, founder conversations and a table shared with people worth listening to.

How we meet

Hadri · Projects and missions

Got a project abroad?
Hire me to run it.

Members of the Republic can hire me as their international project manager. I go where your project is, open the company, meet the clients and hold your hand all the way to launch. Can't be somewhere? I'll go to the meeting, the trade show or the event for you.

£1,500
a week, from
12 weeks
minimum
Me + my team
included
Missions
quoted per trip

Author of MIDDLEMAN. Offices opened in 13 countries. Five languages.

04 / The investor’s field guide

Understand the words.
Ask better questions.

From the first look at the accounts to the last line of a term sheet. Plain-English definitions, with examples that make the detail clear.

Explore the glossary
The founding principles

05 / The Charter · Article I

“Think for
yourself.”

Listen carefully. Question the consensus. A room full of thoughtful people is useful only if everyone is free to disagree.

Read the Charter

The private community

A better conversation
starts with the right people.

Independent minds. Shared curiosity. A considered approach to capital.

Apply to join

£100 a month. Admission by application.
Judgement remains your own.