The First Twelve Months · Alphyn Capital Management

A working document for the year after a sale

The First Twelve Months.

A capital-triage framework for founders after a meaningful liquidity event. Four phases — rest, learn, plan, and begin deployment — with a sample Investment Policy Statement and six questions to ask any adviser before you hire one.

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    What's inside

    • The four-phase sequence: rest (months 1–3), learn (4–6), plan (4–6 overlap), and begin deployment (6–12).
    • The order matters: why deploying capital before the plan exists is the most common, most expensive mistake.
    • A worked example of an Investment Policy Statement, drawn from a real engagement template.
    • Six questions to ask any adviser before you hire one — and what the answers should sound like.

    1 The workbook is educational. It is not investment advice and does not constitute a recommendation to buy, sell, or hold any security. Nothing in it should be relied upon as a substitute for personalized advice from a qualified professional. Alphyn Capital Management, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training.

    Insights · Alphyn Capital Management

    Notes from Alphyn Capital

    Insights.

    Short notes from the practice. Each piece picks one concept central to the year after a sale and works through it the way it would come up in a client conversation: a single idea, traced to its consequences, with the trade-offs left intact.

    Published every two weeks.

    Forthcoming

    Concentrated Stock Positions: The Portfolio Question Behind the Tax Question

    The portfolio question that lives behind the tax conversation when a founder holds a concentrated position, and why solving it first changes the tax conversation entirely.

    Forthcoming

    Active vs. Passive: The Honest Answer for Significant Wealth

    Why the active-versus-passive question is asked differently at meaningful wealth, and what the honest answer looks like when both can coexist inside one portfolio.

    Forthcoming

    How to Evaluate an Active Manager

    The questions to ask of an active manager beyond past performance, structured the way an operator underwrites a business.

    Forthcoming

    The Quiet Power of Fixed Income After an Exit

    Why fixed income often does more work than expected in a post-exit portfolio, and how to think about its role beyond rate forecasts.

    These notes are educational and reflect the principal's views as of the date of publication. They are not investment advice and do not constitute a recommendation to buy, sell, or hold any security. Alphyn Capital Management, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training.