Capital Raise Solutions - 100% Success Fee Based

searcher profile

March 10, 2026

by a searcher in San Francisco, CA, USA

I'm looking for inputs from independent sponsors or searchers about investment banks providing capital raise solutions (equity and debt) where the fee structure is 100% success based without any retainer fee. Does anyone have good experience working with a capital raise firm with 100% success fee based structure?
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commentor profile
Reply by an intermediary
from University of Wisconsin Oshkosh in Milwaukee, WI, USA
Thank you for the tag ^redacted‌. It would be helpful to know what geography you are in and also what industry. With that, I am still not sure there are many firms that will be totally success fee based. Also from experience, be sure you find someone that is a registered broker/dealer.
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Reply by a searcher
from New York University in San Diego, CA, USA
TLDR; you're asking an investment bank to operate a buy-side process for free. Good luck with that. There's a reason why advisory firms charge retainers. Alignment between the firm and the buyer. Where's your skin in the game? There are real costs to conducting a buy-side process that will likely continue for several months. You want them to front the entire financial risk even if they identify and structure a great deal? What if you can't close? What if the seller walks? What if the market shifts? If you can't afford a retainer, what makes me think you can contribute a meaningful amount of equity?
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