Deal-making decoded: Insights on growth, funding rounds, and preparing for transactions

From the 2025 Technology Finance Symposium - West

Mike Milani, Principal at Baker Tilly Capital, moderated a dynamic panel discussion on the realities of raising capital, scaling strategically, and navigating high-stakes transactions. The session featured experienced leaders from technology, finance, and investment, including Ali Hussain, CEO and founder of Tabs; Sean Cantwell, managing partner and co-founder of Volition Capital; and Neil Murphy, CFO of Hi Marley.

The session opened with an overview of the current dealmaking landscape – particularly in the tech sector, where innovation, competition and evolving customer expectations have reshaped how founders pursue investment and plan for expansion.

The panel began by examining how an early-stage company determines where to begin in the fundraising process. Founders discussed the importance of identifying a real, validated market pain point and building conviction around a long-term opportunity – especially in areas like finance technology, where data complexity and legacy systems create both barriers and demand. The conversation emphasized that raising capital is not simply about securing the highest valuation; rather, it’s about finding the right partners. Many founders intentionally forgo the top offer in favor of investors who bring strategic insight, empathy for the founder journey and a long-term approach to company building.

The panel shared how they evaluate opportunities, noting that they may review hundreds of pitches for every deal they ultimately pursue. Much of their selection process centers on product-market fit, personality alignment with founders and identifying companies that have achieved meaningful traction while still flying “under the radar.” The panel highlighted how critical it is for investors to serve as sounding boards and advisors rather than heavy-handed overseers – particularly for founder-led companies that have historically operated independently.

The discussion then turned to deploying newly raised capital. Panelists explained that investment strategies differ widely depending on market dynamics, business model and sales cycles. Some companies use customer-funded pilots that convert into long-term contracts, while others prioritize assembling a strong leadership team, expanding engineering capacity or accelerating go-to-market momentum. Across all approaches, the panel stressed the importance of rigorous prioritization, accountability and alignment among the executive team.