Valuation Expert in Milan, Metropolitan City of Milan, Italy
Member since August 22, 2016
With over a decade of experience across private equity, venture capital, and banking, Toby founded and successfully sold a venture-backed eCommerce company, giving him a unique skill set that combines the financial/investment perspective with tangible operational expertise. His consulting work focuses on helping clients with diligence investment opportunities, as well as companies looking to raise capital and grow their businesses.
In the current low interest rate environment, investors have been increasingly moving towards alternative asset classes, particularly private equity which continues to attract the lion’s share of investor capital. But could a relatively unknown, niche new asset class hold the key for outsized market performance?
In this article, Toptal Finance Expert Toby Clarence-Smith uncovers the world of search fund investing, reviewing some of the key aspects of the asset class from the investor standpoint as well as running through the main benefits of putting money to work in this space.
Don't Scale an Unprofitable Business: Why Unit Economics (Still) Matter (Publication)
With venture funding having grown more than 120% in the US in the last five years, startup founders and investors alike have grown increasingly comfortable with low margin business models. But the successes of the Amazons and Facebooks of this world often mask failure in a slew of other sectors, where the "build it and they will come" model doesn't always work.
In this article, Toptal Finance Expert Toby Clarence-Smith brings attention back to the importance of studying a business’ long-term sustainability prospects, with a particular focus on unit economics, one of the building blocks of profitability and breakeven analysis for startups.
Amazon vs. Walmart: Bezos Goes for the Jugular With Whole Foods Acquisition (Publication)
Through its acquisition of Whole Foods, Amazon is not only likely to disrupt the grocery shopping experience but is perhaps embarking on a grander push that could change the entire retail landscape, leaving Walmart on the back foot.
Has the US Equity Crowdfunding Market Lived up to Expectations? (Publication)
Four years on from the signing of the JOBS act, equity crowdfunding remains a small, niche market. In this article, we take a look at the current state of equity crowdfunding in the US and assess some of the challenges the market faces if it wants to grow into its potential.
The Impact of Brexit on the Financial Services Sector (Publication)
Since the historic Brexit vote, much speculation has been made regarding the effects this would have on the UK's economy. In this article, I take a look at what the anticipated impacts of Brexit on the UK financial sector are, assess their merits and likelihood, and see what the long-lasting impact on the financial sector around the world may be.
The Party Isn’t Over: A Deep-Dive into Why Unicorns Will Bounce Back in 2017 (Publication)
Between 2013 and 2015, the number of Unicorns exploded to 140 members, marking an incredible growth spurt in valuations and positive sentiment toward the venture industry.
But after a rocky 2016, in which scandals, funding downrounds, and more cautious investor commentary emerged, many have questioned the validity of the sector’s valuations. With this backdrop, 2017 is shaping up to be a make-or-break year for the Unicorn Club. Is the party over?
Master of Business Administration (MBA) in Finance
2010 - 2012
The Wharton School of the University of Pennsylvania - Philadelphia, PA, USA
Bachelor of Science in Economic History (Economics)
2004 - 2007
London School of Economics and Political Science - London, England