Nathan Krishnan S
Verified Expert in Finance
During his two-decade career in Asia and the US, Nathan has consulted in strategy, valuations, corporate finance, financial planning and analysis, forecasting, and investments across six continents—ranging in value from $10 million to $1 billion. While a senior manager at Ernst & Young, he led engagements in valuations and modeling and recently left to pursue entrepreneurial endeavors while working on challenging projects at Toptal.
Business Plan for an Education Institute
Equity Research | Infosys
Equity Research Model
- Consulted for company valuations for funding and financial reporting for clients, such as a Big 4 firm, a government consultant, and startups in logistics tech, medtech, and defense technology.
- Built financial models for hardware pricing as a service for an industrial IoT startup, models for SaaS startups, and an IIoT product under design.
- Consulted on the funding strategy for various startups in North American, Indian, and other Asian markets.
- Consulted on 409A valuations, reviewed valuation models and methodologies, and signed off on the final 409A valuation report for startups.
- Served on grant and funding panels, advising seed-level funding from incubators, accelerators, and seed investors. Volunteered as a mentor for Stanford Seedspark program for startups for cohorts 04, 05, and 07.
- Trained entrepreneurs and masters-level students in business plan writing, valuation, and fundraising using real-world examples at premier management institutes and government-run entrepreneurship development centers.
Director of the Board
Seshadri Nathan Securities Pvt. Ltd.
- Founded the company in 2006 for Indian investors with value-investing strategies for equity investments and financial planning assistance for individuals. Pivoted in 2019 to corporate and management consulting services and equity fund-raising.
- Engaged in corporate and management consulting and advised startup clients on valuation and fundraising. Valued a robotic startup in India with a focus on the construction sector for angel round funding and a film school for equity funding.
- Invested in Indian startups—a mobile app facilitating home delivery of pharmaceutical drugs, an EV conversion-kit startup, a crowdfunding platform, a natural ice cream, a patent-holding startup in solid waste management, and a media-tech startup.
- Valued RMBS and CMBS pools for an Australian client, ESOPs for a UAE-based startup in financial services, and equity of a financial services broker in UAE for potential fundraising.
- Prepared the information memorandum and industry research for a client in the specialty coffee sector in UAE and a pitch deck and a financial model for a logistic startup in Saudi Arabia.
- Consulted as a venture partner for a multi-national angel network to help raise angel investments for startups, including edtech, MedTech, and music tech startups.
- Performed ongoing advisory engagement for startups in the medical distribution sector, skills enhancement for graduating students, and patent-owning startups in the waste management space.
- Valued a corporate legal practice in Mauritius, including its brand and goodwill, and an oil rig owner for a shareholder dispute in Mauritius.
- Valued a technology firm in the banking sector for further funding and shareholder resale, another technology firm in the banking sector for funding.
409A Valuation Experts (Software) via Toptal
- Consulted on the design of a valuation software for 409A valuations.
- Detailed DCF valuation and the discount for lack of marketability (DLOM) to design and build a SaaS offering.
- Outlined valuation analysis, use of relative valuation metrics, and reconciliation of value for final valuation design.
409A Valuation Expert via Toptal
Go Real Travel Inc.
- Built a valuation model for use in 409A valuation report considering equity waterfall and the discount for lack of marketability and control (DLOM/DLOC).
- Calculated option values using the Black-Scholes option valuation.
- Applied suitable waterfall methods for allocation of equity considering the probability-weighted expected return method (PWERM) and other models.
Controlling Business Partner/Group Controller
Syncron Holding AB
- Reviewed invoicing and revenue recognition in ERP against the contract database to identify material items of difference in ARR/MRR for shareholder reporting.
- Produced detailed revenue recognition policies as set up in the ERP to facilitate reconciliation using customer contracts.
- Identified differences in invoicing through ERP against the SaaS contract database toward further reconciliation.
Sell-side M&A Expert
JW Services Company Limited DBA Myanmar Tracker
- Researched industry trends to help pitch to the potential acquirer.
- Valued the company using different approaches to indicate a range for negotiation.
- Structured the pitch presentation for the Owner/CEO to present to the potential acquirer.
- Advised on strategies and transaction considerations for the acquisition.
Financial Modeling Expert
Reason Street LLC
- Prepared a financial model for fundraising for a hardware-as-a-service startup in the oil and gas sector with IoT devices. It was used as an operational model, and the modified version was used for successful fundraising.
- Put together a financial model for the pricing strategy for a capital equipment manufacturer using the as-a-service model. It was used to evaluate potential paths for a new business offering, including managed services and device as a service.
- Developed a financial model for pricing strategy for a conferencing equipment provider shifting to a hardware-as-a-service model with channel partners.
- Produced a financial model for determining the pricing strategy for a MedTech startup. Developed a model to evaluate pricing packages, operational models, and forecasts for hardware-connected software sold to biopharma running clinical trials.
- Handled financial due diligence and modeling for a venture studio.
Director of the Board
Quantum Healthcare India
- Evaluated the potential acquisition of multiple hospitals, clinics, and diagnostic labs.
- Valued hospitals, clinics, and diagnostic labs for acquisition.
- Explored leveraged (LBO) and management buyout (MBO) options for hospitals, clinics, and diagnostic labs.
- Evaluated and proposed financial and resource optimization of specialty hospitals, clinics, and multi-specialty hospitals.
Financial Modeling and Strategy Expert
Banpu Innovation & Ventures, Co., Ltd.
- Prepared a detailed investment strategy and investment policy statement for corporate venture capital.
- Conducted detailed research in venture capital investments and presented to support strategic decision-making.
- Extracted from strategy and built a checklist to assist in identifying potential investments and key criteria to track the progress of investments separately for early-stage and later-stage investments.
Senior Manager, Valuations and Transaction Advisory Services
Ernst & Young LLP
- Built and reviewed valuation models for banking companies in the Middle East and Europe; modeled loan loss provisions and regulatory capital adequacy.
- Advised petroleum and petrochemical clients, sovereign wealth funds, and investment holding companies in the Middle East to evaluate assets, intangibles, and associate and subsidiary investments.
- Counseled sovereign wealth funds, real estate, and investment holding companies in the Middle East to evaluate real estate properties and hotel properties in Asia, Africa, Europe, and the Americas.
- Valued intellectual property, including software, mobile apps, football player contracts, service management contracts for hotels, and other intangibles for clients in the asset management, hospitality, real estate, and entertainment industries.
- Conducted research to arrive at transaction comparables and trading multiples for valuation of assets, including ships, oil tankers, real estate, hotels, and investments.
- Performed commercial and financial due diligence on a specialty ink company in the Middle East for acquisition by the world's largest ink and pigment products company; recommended structuring the venture.
- Prepared M&A and leveraged the buyout (LBO) models, prepared investor decks, and advised on structuring acquisitions, spinoffs, and sales.
- Built and reviewed models valuing non-traded derivatives, including swaps, currency forwards, commodity forwards, forex options, structured products, Islamic finance, and Shariah products for clients in the banking, insurance, and power sectors.
- Valued employee stock options for banking, financial services, and other service companies in the Middle East and India.
- Prepared detailed purchase price and allocation models.
Manager and Chief Investment Officer
Open Quiver Investments
- Invested proprietary funds in markets in multiple geographies and asset classes.
- Invested in real-estate assets in the United States.
- Managed investments in stock markets in the US, euro area, Great Britain, Japan, and Canada. Used options to hedge and generate income.
- Traded major currency pairs and commodities using exchange traded options and futures options.
Co-founder | Managing Director | Acting CFO
JRSCA Consulting and Advisory Pvt. Ltd.
- Co-founded the company and spun off a consulting operations service from the larger firm; structured the service offerings and scaled the organization to more than 100 employees in one year.
- Assisted with incorporating companies for clients in India and supported clients through the initial years; served on the board of directors as a resident director for international clients.
- Advised foreign clients on investing in India regarding corporate laws, international taxation, and new business issues.
- Prepared a business plan for a for-profit higher education venture, making a case to the approving body and for funding by investors.
JRS & Company
- Conducted financial and corporate due diligence on prospective investment targets, including a 200-bed hospital and a 250-bed hospital for a foreign healthcare investor.
- Advised on the valuations of Indian companies in the video gaming and construction management software industries for acquisition by non-Indian investors.
- Advised the potential merger of three government companies into a focused single entity.
Head of Advisory Services and Research
Capital Eye for Business Consultancy KSCC
- Advised on valuation and prepared teaser and detailed presentations for finding equity investors in banking and financial services sectors, successfully raising $10 million for a Middle Eastern microfinance company.
- Guided on valuation and prepared teaser and detailed presentation to find equity investors for $50 million for a commercial real estate developer and $10 and $20 million for two financial services companies.
- Advised on valuation and prepared teaser and detailed presentation for finding equity investors for $10 million for a Middle East industrial gas operator and $20 million for a North African BOT gas processing plant.
- Prepared investment reports and briefs for clients in the Middle East who were looking to make outbound investments in Europe, Asia, and North America.
- Advised on valuation and prepared teaser and detailed presentation for finding equity investors for $12 million for a Kuwait-based electrical equipment supplies company.
- Conducted due diligence on legal, commercial, and financial matters for an acquirer of a $20 million Kuwaiti medical equipment company.
- Recommended restructuring scenarios for a $45 million Middle Eastern apparel retailer.
Assistant Vice President — Corporate Finance
First Qatar Real Estate Development KSCC
- Prepared financial models and lender packages to raise bank funding for two Qatari real estate development projects, including a $100 million mixed-use development project nearing completion and a new $300-million project.
- Created financial models to evaluate the returns of potential real estate acquisitions in Kuwait, Oman, and Qatar, ranging in value from $10-30 million.
- Researched office, retail, and residential real estate demand and drivers in these geographies to validate assumptions.
- Improved the quality of investor communication and lender packages by providing financials and the status of development projects on a timely basis, eventually obtaining a corporate rating from S&P.
- Prepared a model for hedging currency exposure in other GCC markets against Kuwaiti Dinar for managing treasury investments and long-term investments.
Manager | Corporate Finance
RSM (McGladrey) International
- Researched industry demand, development model, customer base, and competitors to prepare a valuation for the sale of a stake in a $175 million Kuwaiti information technology company with US DoD contracts.
- Prepared a financial model of a combined entity for the $1.7 billion proposed merger of two public Kuwaiti real estate companies; quantified the synergies of scale and assisted management in preparing the pitch book for the transaction.
- Researched the local market, proposed projects, and determined demand drivers to prepare the placement memorandum for $500 million of equity in a Qatari real estate development company.
- Valued real estate holdings for a $200 million GCC retail operation and proposed a sale and leaseback of the real estate, as well as a transaction structure for the spinoff, sale, and leaseback.
- Researched markets and demand for the product offerings to prepare the business plan for a professional education venture covering Gulf Cooperation Countries (GCC), North Africa, and Levant regions.
- Analyzed the historical trade book and order books from the Kuwait Stock Exchange for the public market acquisition of a 30% stake in a real estate company and proposed acquisition strategies to minimize overall costs.
Corporate Finance Analyst
Nest Technologies Corporation
- Valued a US commercial real estate property using a pro forma NOI for a $25 million investment, preparing the financial models with sensitivity to borrowing rate and other relevant factors.
- Prepared financial models and the data room for due diligence and authored sections of investment memorandum for the equity sale of a $120 million Indian company and a $10 million sale of a US-based cable-television monitoring-equipment company.
- Drew up financial models and recommendation reports that supported the acquisitions of a $5 million product division from the Chapter XI bankruptcy sale of a cable TV company.
- Provided financial models and recommendation reports that supported the acquisitions of $25-50 million in technology product companies in Sweden and Ireland and $10-20 million in software companies in North America, India, and Japan.
- Established revenue and cost recognition processes; improved cash flow planning and order-to-cash processes for group companies, leading to an approximately 20% higher cash flow.
- Identified vendors, negotiated the contract, and transitioned parts of the accounting process, including order-to-bill, payroll processing, accounting, and GL reconciliation to an offshore location, saving the group companies around 15% in G&A expenses.
- Prepared equity research models and recommendation reports for corporate treasury investments, including PAYX, GRA, HAS, RMD, BRK-A, and INFY.
- Created lender packages and participated in lender meetings for a product company's $10 million bank funding, recruited and trained new accounting staff.
- Managed the treasury operations of a group of companies, including investments, currency exposure, and hedging.
- Prepared consolidated pro forma financial models and investor presentations for three optical fiber cable and optronic contract manufacturing companies in India to establish the milestones for a future IPO.
- Drew up a financial model and a business plan for a $10 million investment in India's soda bottling and bottled water plant.
- Recommended best practices in inventory management at the shop floor to the CEO and board, which resulted in the reduction of work-in-process inventory by around 15% and obsolete inventory by around 10%.
- Developed and implemented improved financial reporting processes for the software companies owned by the group, leading to the faster collection of receivables.
Executive MBA Degree in Strategy and Marketing
Indian Institute of Management, Kozhikode - Kochi, Kerala, India
Bachelor's Degree in Commerce
Mahatma Gandhi University - Kottayam, Kerala, India
Registered Valuer - Securities or Financial Assets
Insolvency and Bankruptcy Board of India (IBBI)
Registered Mutual Fund Advisor
Association of Mutual Funds in India
Financial Modeling Certification
Wall Street Prep
Chartered Financial Analyst (CFA)
Chartered Accountant in Accounting, Taxation, and Finance
Institute of Chartered Accountants of India
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