A mandate is a short, honest statement of what you are looking for. It is the input the matcher works from, so a vague mandate produces vague matches. The best mandates are specific enough to exclude the wrong counterparties and broad enough not to exclude the right ones.
A good investor mandate states
- Ticket size as a range, not a ceiling: 'USD 1M–3M per deal' tells a sponsor far more than 'up to USD 3M'.
- Sectors you actually want, ranked: lead with the two or three you will move on, and say which you will not touch.
- Structure you can hold: direct equity, co-investment SPV, fund commitment, or debt — and any hard constraints (e.g. 'US-domiciled holding entity only').
- Return and horizon: target return band and how long your capital can stay in.
- Deal-breakers: jurisdictions, sectors or structures that are an automatic no.
A good sponsor raise states
- The amount and what it is for: 'USD 5M to fund phase-two plant and working capital', not just 'USD 5M'.
- Sector and stage: where the asset sits and how far along it is — concept, licensed, or operating with revenue.
- What you are offering: equity percentage, instrument, and the governance you are willing to give.
- Use of proceeds and milestones: what the money unlocks and by when.
- What is already in place: licences, ZIDA registration, offtake or partners — the things that de-risk the raise.
Common ways a mandate goes wrong
Mandates fail in predictable ways: a ticket size so wide it signals nothing; 'sector agnostic' (which reads as 'no real thesis'); a raise with no use of proceeds; or numbers that do not reconcile — a tiny equity offer at a heroic valuation. Each of these makes the engine work harder and the match worse.
From mandate to paper
A tight mandate flows naturally into the documents. When you engage an adviser to help shape or run it, an engagement letter records the scope and fees. When an introduction is made on a success-fee basis, an introduction agreement captures it. And when a match becomes a deal, the mandate's economics reappear in the term sheet — so it pays to get them right at the outset.
Stating a mandate on CapitalConnect is not an offer, a solicitation, or a commitment to transact. It is a description used to route introductions. Final terms are always set in definitive documents, with your own legal and tax advice.