Venture capital funds, special purpose vehicles, management companies, financial institutions, family offices, and institutional investors require an independent analysis to accurately understand the economic logic of their structures, the distribution of risks, and the contractual and financial impact of their decisions.
At martinsdelima, we have consolidated experience in the economic and financial analysis of investment funds, special purpose vehicles, and Project Finance structures, remuneration models, and complex financial products. We work for fund managers and promoters, specialized investment vehicles, financial institutions, family offices, and institutional investors who need an independent analysis of their financial structures.
Our contribution consists of translating complex contracts, venture capital schemes, and structured derivatives into clear and defensible economic conclusions for potential decision-making, negotiation, or resolution of financial disputes.

Economic expert reports
We have specific experience in the economic structure of venture capital vehicles and fund managers, analyzing their legal regime, decision-making bodies (investment committees, boards of directors), income streams (management fees, and participation in capital gains or carried interest), and how the relationship between the management company, the promoters, and the investors is articulated. We have also studied the degree of real autonomy of certain executives within these structures, their decision-making capacity, and the limits derived from the concentration of political control in a shareholder or promoting group.
In the field of asset management and asset management structures, we have issued reports on the suitability of management fees agreed between funds or investment vehicles and operating companies, comparing the agreed fee structure with market practices.
We have also developed a specialized line of work in complex financial products and derivatives, such as interest rate swaps explicitly or implicitly in financing contracts. We analyze the suitability of the products offered by financial institutions, the client’s profile and level of knowledge, the content and timing of the information provided. We value the derivatives at market prices and compare the contracted solution with reasonable alternatives.

We also produce reports that explain the reasonableness of success fees when successfully closing a deal. It is common for investment banking clients to complain, once the operation is finished, about the significant commission they must pay.

Labor Expert Reports

We produce reports that analyze the departure situation of management company partners. We calculate the value of their stake, taking into account carries and any other variable compensation.