Commercial due diligence for mid-market private equity

Thesis Diligence helps investors test the market, customer and competitive assumptions behind an investment, with research built around the questions the thesis depends on.

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Why Thesis Diligence

Senior-led. Thesis-driven. Built for deal timelines.

Direct senior involvement

Every engagement is led directly by Asad Najeeb from initial scoping through analysis and final readout.

Thesis-driven research

Research is structured around the assumptions and uncertainties underlying the investment case.

Built for deal timelines

Engagements are scoped to live deal processes, typically running two to four weeks.

Four years in PE diligence. 40+ CDDs. Former McKinsey & Company consultant. Engineering background.
Services

Diligence and research across the investment cycle

Thesis Diligence provides commercial diligence and market research for private equity investors, from initial deal screening to deeper confirmatory diligence, thematic research and portfolio support.

01

Commercial Due Diligence

Pressure-tests the commercial assumptions underpinning an investment, including market size and growth, competitive positioning, customer dynamics, and the opportunities and risks that could affect the investment case.

02

Thematic & Sector Research

Evaluates investment themes before a specific target is in play, from decomposing markets into investable business models to assessing their attractiveness and identifying where deeper diligence is warranted.

03

Growth & Portfolio Support

Supports investors and portfolio companies after the transaction, from diagnosing the challenges holding growth back to shaping product and go-to-market strategy.

Selected work

Representative engagements

Target names, financials and other identifying details have been removed or generalized throughout.

A representative sample from 40+ commercial due diligence engagements.

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Approach

How an engagement runs

Start with the thesis

Every engagement starts by identifying the core three to five assumptions the investment case depends on.

Build the evidence

Primary research with customers, expert and competitor interviews, surveys where sample size matters (e.g., 250+ respondents in a recent engagement), and bottom-up market sizing.

Resolve the critical questions

An IC-ready readout with the evidence laid out, structured so a partner can defend the view internally.

Asad Najeeb
About

Led by Asad Najeeb

Thesis Diligence is an independent practice based in Maryland. Asad works directly with deal teams and their advisors, drawing on leading expert networks and survey panels to get to primary evidence quickly on live processes.

  • 40+ commercial due diligences. Four years supporting mid-market PE investors, from deal screening to confirmatory diligence.
  • Former McKinsey & Company. Structured, hypothesis-driven research methodology applied to independent engagements.
  • Engineering background. Brings technical and product context to complex diligence questions.
Get in touch

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For diligence engagements, market research, or portfolio support inquiries, reach out directly.

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