Searcher turned founder!
February 23, 2026
by a professional from University of Toronto in Toronto, ON, Canada
I made 3 LOIs during my search. Only one made it to close. The other two fell apart for reasons that had nothing to do with the deal.
When I started searching, I thought the hard part was finding good businesses.
It wasn't.
The hard part was everything that happens after LOI.
That's when it all speeds up and nothing is organized anymore:
Diligence scattered across emails, data rooms, WhatsApp threads, and random Google Docs
Every investor asking variations of the same question
Assumptions changing quietly with no clear record of what shifted or why
My confidence eroding not because the deal got worse, but because I couldn't manage the chaos
One of my LOIs died because I missed a follow-up with a key investor. Not because they didn't like the deal - because I lost track of the conversation in my inbox.
Another died because I couldn't clearly articulate how a risk had evolved between weeks 2 and 6 of diligence. I knew it in my head. I just couldn't reconstruct it cleanly for the group.
That's when I realized: investors aren't just underwriting the business. They're underwriting whether you can manage complexity under pressure.
And I was failing that test.
The problem wasn't effort. I was working 80-hour weeks. The problem was infrastructure.
We treat search like a professional asset class, but we run the most critical phase—LOI to close - on duct tape and hope.
That's what pushed me to build DealDecoder.
Not because I wanted to start a company, but because I needed a system that:
Created one source of truth between me and my LPs
Surfaced risks early instead of making me scramble defensively
Treated LOI-to-close like an operating workflow, not controlled chaos
The shift I'm seeing now in the ecosystem: LPs aren't just asking "is this a good deal?" anymore. They're asking "can this searcher actually execute?"
That's harder to fake with a polished deck.
Your edge as a searcher won't come from being the smoothest talker. It'll come from being structured, transparent, and repeatable under pressure.
If you're currently searching or thinking about it—I'm curious:
What's broken in your process between LOI and close?
What have you hacked together?
What do you wish existed that doesn't?
If this resonates and you want to talk through how DealDecoder might help, you can reach out - redacted Or just drop a comment. Happy to compare notes.