Any other searchers in Canada having a hard time with sell-side brokers?

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January 22, 2026

by a searcher from University of British Columbia in Toronto, ON, Canada

I am an independent sponsor searcher and am having a really hard time getting CIMs from brokers. Everyone seems to be gate-keeping with NDAs that require proof of funds. Does anyone have any tips on how I can circumvent this?
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Reply by a searcher
from Harvard University in Montreal, QC, Canada
Proof of funds to have access to a CIM is a bit much and you are correct for pushing back (I hope you are). Be aware that at the LOI stage, it will most likely be a requirement though. It remains a buyer's market so hold on to your guns and have them take the proof of funds out of the NDA. Good luck.
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Reply by a searcher
from Cranfield University in Toronto, ON, Canada
I think the gatekeeping you are seeing is driven by volume and they use proof of funds as a filter for seriousness. Lead with a clear buyer profile: operating background, target deal size, industries, geography, key financial criteria, decision process, and capital relationships (even if not yet committed). Warm intros via bankers, lawyers, accountants, or your broader network, also helps. Being upfront about your equity source(s); whether warehoused or firmed up post-IOI/LOI from capital partners, pays off in the long run. That said, some still require hard proofs. In those cases, moving on quickly is often the best use of time. All the best.
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