Tentt
Confidential origination memo
Prepared 29 April 2026
Tentt × VSS Capital Partners
Prepared for
VSS Capital Partners

Business development program scoped for VSS.

Inside: a one-paragraph read of your mandate, 8 real companies we'd put in front of you this month, the signals we'd track for you, and how we'd run it.

v.04.29 · Confidential
For David Walker-Dobson, Tentt Founder
4-minute overview · David Walker-Dobson

Why we built this for VSS, and what running it would look like.

01 What we understand about your mandate
You back lower middle-market healthcare, business services, and education companies, $3-15M EBITDA, founder-owned and management-led, primarily United States. Your capital is flexible (senior debt, mezzanine, subordinated debt, preferred equity, common equity) and you take control or non-control positions depending on each company's needs. Recent activity includes platforms like Treya Partners in outsourced business services and Olympus Cosmetic Group in healthcare services, with a clear pattern of building through add-on acquisitions.
VSS Capital Partners website
vss.com · 29 April 2026
02 Companies we'd put in front of you this month
60 companies in your universe. 8 we'd open conversations with first. ↓ Download all 52 as CSV
Boostlingo
Texas · 10-50M revenue
Healthcare language services, founder-led
Video interpretation platform serving healthcare and government. Direct adjacency to GLOBO Language Solutions in healthcare IT and language services.
Smartling
New York · 10-50M revenue
Translation management, enterprise SaaS
Translation management platform for enterprise clients. Tech-enabled business services model fits your deployed shape in outsourced services.
Unbabel
California · 100-500M revenue
Scale boundary, VC-backed translation
AI translation platform at $100-500M revenue. Outside your $3-15M EBITDA band but sector-adjacent to healthcare language services thesis.
Brany
New York · 0-1M revenue
Early-stage medical interpretation
Medical interpretation platform under $1M revenue. Pre-EBITDA stage, outside your typical entry point but sector-aligned.
Prometrika
Massachusetts · 10-50M revenue
Clinical trial services, founder-owned
Clinical research organization serving pharma and biotech. Direct adjacency to Eximia in pharmaceutical services and CRO model.
Smartcat
Massachusetts · 100-500M revenue
Scale boundary, translation platform
AI translation platform at $100-500M revenue. Outside your EBITDA band but tech-enabled services model aligns with portfolio thesis.
Biotrial
Texas · 1-10M revenue
Early-stage clinical research
Clinical research services under $10M revenue. Pharma services adjacency to Eximia but likely pre-EBITDA threshold.
Lokalise
Delaware · 10-50M revenue
Translation platform, software-led
Localization platform for software teams. Tech-enabled services model fits your business services thesis but software-heavy.
03 Signals we'd track for you

Six categories. Forward-looking. Tracked across your universe.

None of these are claims we've already detected anything. They're the patterns we'd watch for, daily, on the universe of companies we'd build for you.

Leadership changes
New senior hires (CEO, CFO, Chair) commonly precede transaction processes by 6 to 12 months.
Watch: Companies House officer history, LinkedIn role changes, press releases.
Hiring pattern changes
Rapid senior team builds and sustained downsizing both correlate with capital events. The shape of the hiring curve is often more predictive than any single hire.
Watch: LinkedIn employee growth, posted job listings, departure patterns.
Capital structure events
Debt refinancings, charges register filings, and equity rounds signal upcoming inflection points and often precede a process by 9 to 14 months.
Watch: Companies House charges register, public funding announcements.
Founder activity signals
Public framing about "next chapter", succession, or sustained retirement language predicts owner-led exits more reliably than any structural signal.
Watch: LinkedIn posting patterns, trade press interviews, third-party adviser engagement.
Capacity and geographic moves
Site expansions, planning applications, and new regional offices commonly precede growth financing or sale processes.
Watch: planning applications, Land Registry filings, press announcements.
Sector activity
Peer transactions reset valuations and unlock founder thinking. Tracking the bracket matters more than tracking any single account.
Watch: trade press deal coverage, sponsor exit announcements, public filings.
04 Sample outreach

Two emails. Real drafts, in your voice, ready to send.

Sent under your name, never as Tentt. Day 0 is the cold open with named-portco proof. Day +4 is the threaded follow-up with market data.

05 How we'd run it

Three concrete ways we'd build pipeline for VSS.

Playbook 01 · Add-ons
Adjacencies for Coretelligent

Map managed IT service providers and cybersecurity firms within your core geographies, targeting founder-led MSPs serving mid-market clients. Direct founder outreach, framed as add-on conversation under your existing IT services platform.

Playbook 02 · Reactivation
Mandate-fit dormant pass

Run your existing CRM against your deployed-shape filter. Surface dormant prospects whose situation has changed: new owner, new financing event, new senior hire. Single wave, founder-direct, framed as a check-in.

Playbook 03 · Sector deep-dive
Founder-owned healthcare IT in the United States

Saturate your strongest sub-sector with founder-direct outreach across the entire deployed-shape universe of healthcare IT, healthcare services, and tech-enabled business services. Eight to ten weeks of waves, prioritised by the strength of each company's fit signals.

06 What we run for you

Deal origination, run end-to-end, under your brand.

Tentt runs deal origination as a service for private equity, M&A advisors, investment banks, and lenders. We build the target list, write the outreach in your voice, and send cold-email campaigns from authenticated infrastructure in your firm's name. Completely whitelabeled. Recipients see your firm; replies route to your CRM; we never appear in the conversation.

07 Close

The data is yours. The conversation is the next step.

The full list of 52 additional companies is available to download above. When you've had a chance to look through it, book a 30-minute briefing and we'll walk through how we'd run a campaign against the priority cohort.

David Walker-Dobson · david@tentt.com · tentt.com
v.04.29 · Confidential