News & Insights from IRC Partners

IRC Partners publishes institutional-grade research on capital stack structuring, GP/LP economics, debt and equity positioning, fund formation, and LP due diligence for real estate sponsors and growth-stage founders.
Each article is written to the standard institutional investors use to evaluate sponsors, not as general education.

IRC Partners Research
August 6, 2026

Pitch Deck Audit: The Slides Institutional Investors Use to Disqualify You First

A pitch deck audit identifies the slides institutional investors use to disqualify a raise before the first meeting.
Cap table forensics graphic showing why most founders own 5 to 15 percent less than they think, with a magnifying glass over a pie chart and black and gold styling
IRC Partners Research
August 6, 2026

Cap Table Forensics: Why Most Founders Own 5 to 15 Percent Less Than They Think

Cap table forensics shows where founders lose hidden ownership through SAFEs, option pools, dead equity, and conversion math.
Title slide asking what an investor readiness assessment is and what it should cost, with checklist, pen, plant, and dollar symbol on a gold and black design
IRC Partners Research
August 6, 2026

What Is an Investor Readiness Assessment and What Should It Cost?

An investor readiness assessment should test whether a raise can survive institutional screening, not just whether the pitch feels ready.
Infographic about the trap zone in investor readiness, showing why scoring 50 to 84 burns more relationships than failing and warning that middling prep can damage investor trust
IRC Partners Research
August 5, 2026

The Trap Zone: Why Scoring 50 to 84 on Investor Readiness Burns More Relationships Than Failing

A 50 to 84 investor readiness score creates enough confidence to launch but not enough discipline to survive institutional review.
Infographic explaining why ambiguous voting calculations in drag-along clauses can trigger litigation, comparing majority of shares with majority of voting shares
IRC Partners Research
June 15, 2026

Why Ambiguous Voting Calculations in Drag-Along Clauses - "Majority of Shares" vs. "Majority of Voting Shares" - Become Litigation When an Offer Arrives

Why "majority of shares" and "majority of voting shares" are not the same in a drag-along clause - and how the gap becomes litigation when an offer arrives.
Diagram showing what happens to drag-along rights when a Series B is layered on top of a Series A, with rights, consent thresholds, and terms changing
IRC Partners Research
June 15, 2026

What Happens to Drag-Along Rights When You Layer a Series B on Top of Your Series A

Closing a Series B doesn't reset your drag-along. The same threshold now applies to a cap table it was never designed to protect you against.
Illustration of drag-along provisions and founder exit timing, showing investors deciding the sale, a founder with little say, and the message that it is not your timeline or your call
IRC Partners Research
June 15, 2026

Drag-Along Provisions and Founder Exit Timing: Who Actually Controls When You Sell

The party that controls the drag-along trigger controls when you sell - not the founder's value timeline, but the investor's fund clock.
Infographic showing five drag-along clause variations that favor investors over founders, with broad triggers, low thresholds, no minimum price, few exceptions, and no founder protections on a balance scale
IRC Partners Research
June 15, 2026

5 Drag-Along Clause Variations That Favor Investors Over Founders - And What to Ask For Instead

Five drag-along clause variations that quietly shift structural power to investors - and what founders should ask for before the round closes.
Capital raise audit vs pitch deck review, comparing what institutional investors actually screen with a clipboard, magnifying glass, and pitch deck graphics
IRC Partners Research
August 6, 2026

Capital Raise Audit vs Pitch Deck Review: What Institutional Investors Actually Screen

A pitch deck review improves the story, but a capital raise audit determines whether the raise is ready for institutional outreach.

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