Value where others see a write-off.
When a business stalls or an asset is written off, most walk away. We read what's recoverable, structure the recovery, and back the turnaround — powered by Errored Coin.
Even an errored coin has value. The discipline is knowing exactly how much, and how to get it back.
Recovery as a discipline, not a gamble.
Distressed situations frighten most investors because the downside is unclear. We treat them as a discipline. Through Errored Coin, our distressed-asset intelligence venture, we diagnose precisely what went wrong and separate what is recoverable from what is truly lost — then we structure the recovery and bring capital and operators to execute the turnaround.
These are some of the most demanding positions we take, and some of the most rewarding: value recovered where others saw only a write-off, a business saved or wound down well, and a hard lesson fed back into how we judge the next situation. It is also what keeps our own build-and-back cycle honest.
It draws on the whole firm — intelligence, capital, structuring, and operating muscle — applied to the hardest end of the spectrum.
How we approach distress.
Diagnose the error
Errored Coin names exactly what went wrong, by type.
Separate value
Recoverable from lost — honestly, before committing.
Structure recovery
The instrument and plan to get the value back.
Back the turnaround
Capital and operators to execute, not just fund.
Run it
Consulting's operating muscle on the turnaround itself.
Learn
The lesson fed back into how we judge the next one.
From distress to recovered value.
Read
Diagnose the situation and what's recoverable.
Structure
Design the recovery and the capital behind it.
Operate
Run the turnaround with operators, not just money.
Recover
Realise the value — and capture the lesson.
Distressed work is where the firm's loop closes.
Errored Coin
The intelligence behind it.
Consulting · Operations
The turnaround muscle.
Special Situations
The adjacent complex deals.
Structures
How recoveries are carried.
The things people ask first.
Why invest in distress at all?
Because there's almost always recoverable value others miss — and reading it precisely, via Errored Coin, turns a gamble into a discipline.
What is Errored Coin's role?
It's our distressed-asset intelligence venture — it diagnoses the error and separates recoverable value from lost before we commit.
Do you only provide capital?
No — we structure the recovery and bring operators to run the turnaround. Capital alone rarely fixes distress.
Who brings you these situations?
Founders who hit the wall, lenders and acquirers of stranded assets, and our own cycle when something we backed needs recovery.
Holding a stalled business or stranded asset?
Tell us the situation. We'll read what's recoverable — and back the recovery.