Industry · PEVC

Private Equity & Venture Capital

Investors need to know, quickly and independently, whether a market is as attractive as it looks and whether a company is as strong as its management says. We support PE, VC, family offices and corporate development teams from thesis to exit.

Discuss Your Market 5 ways we help

Last reviewed 2 October 2026 by the Hoog research team

What is research for private equity and venture capital?

Research for private equity and venture capital provides independent evidence on markets and target companies to support investment decisions. It includes sector screening and thesis development, commercial due diligence, customer referencing, product-market fit validation for start-ups, and research that supports post-acquisition value creation.

How research creates value

Independent evidence at deal speed.

Management presentations and data rooms tell one side of the story. Customers, competitors, channel partners and industry experts tell the other. Commercial research tests the assumptions that drive valuation — market growth, customer loyalty, competitive position and pricing power — before capital is committed.

Hoog structures every engagement around the investment thesis, prioritises the questions that move the valuation, and delivers clear answers on deal timelines. After the deal, the same evidence base supports value-creation initiatives in pricing, market entry and customer experience.

Segments we cover

Private equity (growth & buyout)
Venture capital
Family offices
Corporate development & M&A
Infrastructure and credit investors
Portfolio companies

What’s changing

Forces reshaping Private Equity & Venture Capital

The shifts our clients most often ask us to help them understand and respond to.

Higher bar for growth assumptions

In a more disciplined funding environment, investors scrutinise market size, retention and unit economics more closely.

Compressed deal timelines

Competitive processes demand fast, focused diligence that answers the critical questions first.

Value creation focus

Returns increasingly depend on operational and commercial improvement after acquisition, not multiple expansion alone.

Emerging categories

AI, climate, fintech and healthtech categories often lack reliable published market data, making primary research essential.

How we help

Research and strategy for Private Equity & Venture Capital

Each engagement starts with a business problem and ends with a decision. These are the questions we are most often asked to answer.

Sector screening & thesis development

“We want to build a thesis in a sector and identify the most attractive sub-segments and targets.”

Questions we answer

Which sub-segments are growing and profitable?
What structural trends support the thesis?
Who are the leading and emerging players?
What would make a target attractive?

How we do it

Rapid sector mapping, expert calls and market sizing, producing a thesis document and target long-list.

Sector mapping
Expert calls
Market sizing
Target screening

What you receive

— Sector map
— Thesis memo
— Target long-list with profiles

Decision it enables

Where to focus deal origination.

Related capability: Market Research

Commercial due diligence (red-flag & full)

“We need to validate the market and the target’s position before signing.”

Questions we answer

Is the market growing as the plan assumes?
How defensible is the target’s competitive position?
Are plan revenue drivers realistic?
What are the key commercial risks?

How we do it

Thesis-led hypotheses tested through market modelling, customer referencing, expert calls and competitive benchmarking.

Market modelling
Customer referencing
Expert calls
Competitive benchmarking
Plan sensitivity analysis

What you receive

— Red-flag memo
— Full CDD report
— Market model
— Risk and upside summary

Decision it enables

Whether to invest, at what valuation, and with what conditions.

Customer referencing & voice of customer

“Management says customers love the product. We need to hear it from customers — including those who left.”

Questions we answer

How satisfied and loyal are customers?
Why do customers choose — and leave — the target?
How do customers see pricing and alternatives?
Will customers spend more over time?

How we do it

Independent interviews with current, former and prospective customers, plus a short survey where sample allows.

Customer and lost-customer interviews
B2B survey
NPS and switching analysis

What you receive

— Customer voice synthesis
— Retention and expansion indicators
— Pricing power assessment

Decision it enables

Confidence in revenue quality and retention.

Related capability: B2B Research

Start-up PMF & traction validation (VC)

“The start-up has impressive early metrics, but we want to know if product-market fit is real.”

Questions we answer

Do customers see the product as essential?
Is demand broad or concentrated in a few accounts?
How does the product compare with alternatives?
Is the market large enough for venture returns?

How we do it

Customer and user interviews, PMF indicators and market sizing for emerging categories.

Customer IDIs
PMF survey
Expert calls
Emerging-category sizing

What you receive

— PMF assessment
— Market size view
— Competitive landscape
— Key diligence risks

Decision it enables

Whether the traction justifies the round.

Portfolio value creation

“Post-acquisition, we need evidence to drive pricing, expansion and customer initiatives in the portfolio company.”

Questions we answer

Where is pricing below value?
Which new segments or markets should the company enter?
What drives churn, and how can it be reduced?
How can sales effectiveness improve?

How we do it

Targeted research projects — pricing, market entry, churn, buyer journey — aligned with the value-creation plan.

Pricing research
Market entry assessment
Churn and win/loss research
Buyer journey mapping

What you receive

— Initiative-specific recommendations
— Value-creation evidence base
— Progress tracking

Decision it enables

Which value-creation levers to pull, and in what order.

Related capability: Strategy Advisory

Who we research

The people behind the decisions

Customers

Current and former customers of the target
Prospects and competitors’ customers

Market

Industry experts and former executives
Channel partners and suppliers

Competitors

Public information on competitors
Former competitor employees (ethically, no confidential information)

What we measure

Evidence, not opinion

Market size and growth
Customer satisfaction and retention indicators
Competitive position
Pricing power
Plan assumption sensitivity
PMF indicators

Typical engagements

What working with us looks like

Representative scenarios that show how we scope work in this sector. They are example scopes, not client case studies.

Two-week red-flag review

Situation: A PE fund in a competitive process needs a fast view on a B2B services target.
Approach: Expert calls, customer referencing and market check.
Output: Red-flag memo with key risks and follow-up questions.

VC traction validation

Situation: A VC is leading a round in a vertical SaaS company.
Approach: Customer interviews, PMF assessment and market sizing.
Output: PMF view, market size and diligence risks.

Relevant capabilities

Capabilities we bring to Private Equity & Venture Capital

Commercial Due DiligenceIndependent, fast evidence on markets, customers and competitive position for deals.Market ResearchSize markets, map demand and understand the forces shaping your category.Competitive IntelligenceKnow how competitors compete, where they are heading and how to respond.Strategy AdvisoryTranslate evidence into strategic options, choices and action plans.

Case studies