The numbers and the story.
One team, inside the company.

Fits Capital is an operating partner for founder-led companies heading toward a sale, run through two practices: CFO for Exit and INHAUSE.

Oxford, UK  ·  Limassol, Cyprus

Ask about an Exit Diagnostic How we work ↓
01  The Structure

Two practices. One firm.

The numbers

CFO for Exit

An embedded CFO who brings the company into sellable shape and runs the company side of the deal to close. Owns the outcome, paid on the outcome.

How it works →
The story

INHAUSE

The communications team shapes the company’s narrative — aligned with the financial data, resilient to a sale’s scrutiny.

Inside the practice →
Fits Capital is the operating firm.
CFO for Exit is its financial and transaction practice, led by Mikhail Fedotov.
INHAUSE is its communications practice, led by Yulia Koktysh and Olga Elkina. It works both within Fits Capital mandates and independently, with its own clients.
02  The offer

Sellable is built, not declared.

A company sells cleanly when four requirements are met. Our job is to bring all four into a buyer-ready condition.

01

Finance

Reporting to standard. Earnings that survive diligence — and revenue the buyer can keep once it applies its own rules.

Core
02

Key people

The founder leaves: a second line. The founder stays: a workable retention and transition structure.

Core
03

Cap table

The economics of who holds what, through which entity and which jurisdiction — and what actually reaches shareholders after the deal, not the headline price.

Core
04

Reputation & narrative

The equity story a buyer reads before the model. External visibility — through INHAUSE.

Core + elective

How the four are billed: the core is taken as one piece; elective work is added where the diagnostic calls for it.

A single block can be bought on its own — but then it is paid for in fees alone, without the equity participation.

Embedded from eighteen to thirty-six months out, through to close.

03  CFO for Exit

An operating CFO who gets the company sold.

Exit Diagnostic

A fixed fee and a defined number of weeks, agreed up front. Access: founder and board time, management reporting, the group structure. The result:

  • The risks a buyer surfaces first
  • Founder- and key-person dependency, named plainly
  • A cap-table and governance read
  • Earnings quality and reporting gaps
  • Where revenue depends on data, AI or permissions: provenance, rights and transferability
  • A prioritised plan for the next twelve to eighteen months

A board-ready readout. It stands on its own; the mandate is a separate decision.

Mikhail Fedotov
Practice lead

Mikhail Fedotov

Operating-CFO and buy-side investment roles, including chairing an investment committee.

Why Mikhail, and when to start a conversation →
How a mandate runs
Exit Diagnostic

Fixed fee. The company through a buyer’s eyes.

Structuring

Cap table, jurisdictions, holding structure and the tax position of a future sale. Implemented with counsel and tax advisers, on the timeline the structure requires — not the one the deal allows.

Value Engineering

Earnings quality, metrics, the second line.

Exit Packaging

Equity story, data room, buyer narrative.

Transaction & Proceeds

The company side of the transaction, run to money in the account.

04  INHAUSE — the communications practice

Buyers price what they believe.

Diligence is not only a financial exercise. Where two accounts of the same company disagree, the discount is real — and it is negotiated late, when leverage has already moved.

What the company says
The deck. The founder’s narrative. The plan presented to the board.
the gap
What the buyer finds
The public record. The market’s view. What the team says when the founder is out of the room.
Practice leads
Yulia Koktysh
Co-founder, INHAUSE · Director, Fits Capital

Yulia Koktysh

Positioning and investor narrative for founders building outside their home market. Leads client mandates and the firm’s own positioning, from Oxford.

Olga Elkina
Co-founder & Partner, INHAUSE

Olga Elkina

Analytics, content, media, crisis management.

15+ years across PR agencies, in-house communications and strategic consulting.
Senior-led, no exceptions.

INHAUSE in details →
Internal

A management team telling one story about where the company is going — and ready for the questions a transaction brings.

External

Investor communications, founder and leadership positioning, media record, reputation risk — the evidence a buyer finds before the first meeting.

Why it belongs here

The numbers and the narrative are built by one firm, to one standard, on one timeline. No gaps, no rifts, no misperception.

05  Engagement economics

Paid when you exit well, not by the hour.

01 · Fixed fee

Exit Diagnostic

The entry product and the filter.

02 · Retainer

Running the mandate

Payment for carrying the mandate, not for hours. The operating base of the engagement, not the upside.

03 · Equity participation

Realised at the exit

The principal upside. We hold equity in the outcome, which is what puts us on the founder’s side of the table.

On an exit mandate both practices are paid this way, whichever of them does the work. INHAUSE also takes on standalone communications engagements, priced separately.

06  The mandate

What we are — and what we are not.

Embedded, and under way

An embedded CFO for Exit engagement with a founder-led technology company operating across several jurisdictions: financial reporting, ownership structure, leadership readiness and preparation for a future transaction.

Confidential by design. The company will be named when it chooses to be.

The boundary

We are not a bank and we don’t broker the deal. The bank finds and manages buyers; legal and tax own the paperwork; the company’s executives keep running the business.

Fits Capital owns the company side: one coherent, buyer-ready state, with the specialists a transaction needs coordinated by one accountable CFO — not assembled by the founder.

We work for the company and its shareholders. We do not arrange investments, broker transactions, or give regulated investment advice.

07  Questions worth asking
If you earn at the exit, won’t you push us to sell fast?
Our equity participation is worth what the company is worth: it grows with the price achieved, not with the fact that a sale happened. A quick, cheap exit cuts our upside exactly as it cuts the founder’s. The Diagnostic is a fixed fee and the retainer covers the mandate, so there is no pressure to close “just anything”. And the decision to sell always stays with the owner.
Why is the current mandate anonymous?
The company will be named when it chooses to be. Until then, we describe the shape of the work — not the client.
What don’t you take on?
Two cases where someone else will serve you better. If the need is tidy books and clean reporting, a good accountant does that faster and for less. And if a sale process is already live with a bank appointed, the preparation window has closed — at that point we would be adding cost rather than value.
Where does compliance sit?
We are not counsel and we don’t issue the opinion. We own the commercial question: which part of the revenue rests on data, models or permissions the buyer cannot inherit, and what that costs in price, escrow or warranties. Buyers of data and AI businesses now diligence this before they diligence the numbers.
Do you handle tax?
We don’t give tax advice and we don’t sign the opinion — that sits with your advisers. We own the question: what a sale looks like after tax, which decisions have a clock on them, and how deal structure moves the number that reaches shareholders. Most of that has to be settled long before a buyer is at the table.
Are you a fund?
No. We don’t invest capital and we don’t take board control. We work for the founder, inside the company, and our upside is aligned with the price the founder exits at.
How do you work with our existing advisers?
Legal, tax, audit and, where a sell-side process needs one, M&A execution are brought onto the mandate as the transaction requires, coordinated by one CFO. Your finance team stays on the day job.
08  Contact

The earlier the conversation, the better the outcome.

The first step is the Diagnostic — no long mandate required to begin, and it lets each side decide before committing.

Ask for an Exit Diagnostic hello@fitscapital.co.uk LinkedIn