Analysis, valuation, the financial model and the memorandum are produced by a defined process of fifteen functions. Documents are signed by people. Below is how it works and where the line runs.
Work passes through them in sequence, and each one may return the work to the previous.
Fifteen functions assemble the transaction materials: target screening, compliance, financial analysis, valuation, five diligence streams, packaging, data room, structure.
machine, directed by the transaction director
It checks the same things every time: do the figures reconcile across documents, does each have a source, were the weaknesses named before the other side found them.
entitled to return work to any participant
The valuer, the lawyer and the tax adviser sign the documents for which they carry professional responsibility. Accountability for the result sits with the firm.
people only
Each does its part and passes the result on. The composition for a specific transaction is assembled by the transaction director.
The line runs through signature and through negotiation, and it is fixed in the firm's internal rules.
| What | Who signs | Why it works this way |
|---|---|---|
| Valuation report | Accredited valuer, member of a self-regulated body | A credit committee accepts the report of a valuer carrying professional indemnity |
| Mandate, agreements, transaction documents | Legal counsel | Written opinion before signature. Any document creating an obligation passes through it |
| Tax position on the transaction | Tax adviser | A position on a specific transaction is a matter of professional responsibility |
| Negotiation and meetings with the owner | Transaction director | A person decides on price, and a person sits opposite the owner |
Professional standards in audit and law require the same: the output of an algorithm is reviewed by a person, and responsibility sits with whoever signed. We hold that line as our own rule rather than as an imposed requirement.
An individual adviser produces the same volume over months and alone — which is why in the RUB 300m – 5bn range materials of this standard rarely reach the owner at all. The process removes that constraint: people are deployed where people are required.
Part of the work of preparing materials is carried out by our process built on artificial intelligence. We put that on the page rather than reveal it on request: the owner and the buyer are entitled to know how the document in front of them was produced.
MAXCAPITAL is accountable for the result. Treating an algorithm as an independent party is excluded: the mandate is signed by the firm, the opinion by a specialist, and both answer for what they signed.
The set of information entering processing is agreed with the owner before work begins. Transaction materials stay within the firm's perimeter, and the circle of people admitted is agreed name by name.
Any claim that the process replaces a valuer, a lawyer or an auditor. It prepares the material for them and shortens the work; signature and professional responsibility remain with people.