Hong Kong Valuation Guide
Startup, transaction and modelling advisory
Valuation and financial models that connect commercial assumptions, financing terms and investor economics.
Beyond a headline valuation
Understand how value is allocated and diluted.
A funding round can imply one headline value while different securities have materially different economic rights.
Startup valuation
DCF, venture capital method, comparable rounds, scorecard, scenario analysis and milestone-adjusted approaches.
Cap table and allocation
Option pricing, probability-weighted returns and current value methods for ordinary shares, preferences and options.
Fundraising support
Pre-money and post-money analysis, dilution, term comparison, investor return and exit sensitivity.
Deal modelling
Acquisition price, debt capacity, earn-outs, synergies, accretion/dilution and scenario analysis.
NPV and feasibility
Greenfield projects, infrastructure, charging networks, expansion plans and investment committee decisions.
Model review
Logic, formulas, assumptions, circularity, scenario controls, outputs, documentation and usability.
Information for a startup valuation
Commercial evidence matters more than presentation polish.
- Investor presentation and business model
- Historical management accounts
- Monthly or annual projections
- Cap table and option pool
- Funding terms and prior rounds
- Customer metrics and unit economics
- Product roadmap and milestones
- Market size and competitor evidence
Uncertainty should be modelled, not hidden.
Scenario weights, milestone risk, financing needs, dilution and time to exit can be more informative than a single deterministic growth curve.
AI in valuation: useful, but governed.
AI can accelerate document review, comparable screening, data classification and sensitivity analysis. Professional judgement remains necessary for source reliability, model choice, rights interpretation, outliers, assumptions and final conclusions.
Send the deck, cap table and funding terms.
Add the purpose, valuation date, financials, forecast, deadline and intended users for an efficient quote.