The Math
Based on $10M average deal size, 3 deals closed per year.
Coseek
$327K
$109K per closed deal
$750 per qualified meeting
1% success fee on closed deals
No retainers
Buy-Side Advisor
$1.02M
$340K per closed deal
Retainer: $120K/yr ($10K/mo)
Success fees (3%): $900K
(3 deals × $10M × 3%)
Illustrative model: 36 qualified meetings, 3 closed transactions, $10M average enterprise value. Traditional path uses a $10,000 monthly retainer and 3% transaction fee. Actual results vary with thesis, market depth, owner responsiveness, and deal follow-through.