Advisory Services
Different investment decisions require different levels of analysis.
ESA structures each engagement around the specific investment question, the uncertainty surrounding it, and the external conditions that may affect the decision.
Engagements range from rapid initial assessments to deeper scenario-driven analysis and ongoing strategic support.
Engagement fees reflect the complexity, urgency, geographic coverage and depth of work required for each mandate.
Primary Sector Focus
Defence & Dual-Use Technologies
ESA has a particular focus on investment decisions across defence and dual-use technologies. Alongside our core investment-risk advisory formats, we provide a specialised capability for investors navigating the breadth and complexity of Europe’s defence market.
Defence & Dual-Use Opportunity Mapping
Structured research and synthesis designed to help investment teams understand capability demand, technology areas, market signals and investment implications before committing resources to deeper company-level assessment.
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Principal Advisory Formats
The following formats represent the principal advisory outputs provided by ESA.
| Format | Delivery Time | Typical Use | Executive Discussion |
|---|---|---|---|
| Rapid Investment Risk Assessment | 3–7 working days | Initial screening and market-entry questions | Included |
| Strategic Brief | 1–2 weeks | Specific investment decisions | Included |
| Strategic Decision Paper | 2–4 weeks | Complex situations involving uncertainty and multiple scenarios | Included |
Rapid Investment Risk Assessment
- Delivery Time
- 3–7 working days
- Typical Use
- Initial screening and market-entry questions
- Executive Discussion
- Included
Strategic Brief
- Delivery Time
- 1–2 weeks
- Typical Use
- Specific investment decisions
- Executive Discussion
- Included
Strategic Decision Paper
- Delivery Time
- 2–4 weeks
- Typical Use
- Complex situations involving uncertainty and multiple scenarios
- Executive Discussion
- Included
Each written format includes a short executive discussion with the author(s), ensuring clients can explore findings and implications directly rather than receiving a static document.
Rapid Investment Risk Assessment
Also referred to as rapid geopolitical risk assessment, short-form investment risk assessment, or market-entry risk assessment.
Used when:
- conducting an initial evaluation of a potential opportunity
- screening an investment before committing further time or capital
- forming an initial view of an unfamiliar market or investment environment
A concise initial assessment for situations where investors or companies need a clearer understanding of geopolitical, political, regulatory, or investment-related risks before moving further.
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*Fees exclude VAT where applicable.
Typical focus:
- key external risks surrounding the investment context
- major uncertainties and second-order effects
- structural or political factors that may shape outcomes
- initial scenario framing and areas requiring deeper diligence
The intent is not to replace full due diligence, but to provide a structured first layer of strategic clarity before deeper engagement.
Strategic Brief
Used when:
- evaluating entry into a new market
- assessing whether to proceed with a specific investment
- clarifying external risks before capital is committed
A concise written advisory product that clarifies the external environment surrounding a specific investment decision, delivered before capital is committed.
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Typical scope:
- mapping of the political, regulatory, and geopolitical landscape relevant to the investment
- identification of key strategic risks, constraints, and enabling conditions
- assessment of stakeholder dynamics and institutional context
- analysis of timing considerations, entry trade-offs, and decision sensitivities
- concise executive summary synthesising implications for the investment decision
Does not include financial modelling, valuation, legal advice, regulatory advice, or execution support unless separately agreed.
Strategic Decision Paper
Used when:
- the investment case depends on uncertain political or regulatory outcomes
- multiple scenarios materially affect valuation or viability
- key assumptions require stress-testing before committing capital
A scenario-driven advisory product for complex investment decisions under uncertainty.
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Typical scope:
- analysis of risks material to the investment thesis across geopolitical, regulatory, and security dimensions
- development of relevant scenarios and assessment of how the investment case performs across them
- identification of key assumptions, inflection points, and path dependencies
- assessment of second-order effects, stakeholder reactions, and strategic trade-offs
- identification of early warning signals and decision signposts
- executive summary structured around investment-relevant judgment
Provides strategic risk interpretation under conditions of uncertainty. Does not constitute legal, compliance, financial, or investment management advice unless separately agreed.
Ongoing Advisory
Direct conversations and continuing strategic discussions provided on an ad hoc or recurring basis.
On-Call Strategic Advisory
Used when:
- exposure is already in place and conditions are evolving
- ongoing interpretation of political and regulatory developments is required
- investment assumptions need to be revisited over time
Ongoing advisory access for investors with active or prospective exposure in Europe and Ukraine, providing independent strategic judgment as conditions shift.
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Typical focus:
- analysis of relevant political, regulatory, or security developments
- reassessment of stakeholder and operating context as conditions shift
- evaluation of timing, exposure, and changing strategic constraints
- identification of emerging risks or opportunities affecting the investment position
Scope and form of support are defined through prior agreement and may be structured on an ad hoc or retained basis.
Our Methodology
ESA structures engagements around the investment decision, the external risks that may affect it, and their practical implications.
Our advisory process follows the ESA Risk Assessment Framework (ERAF), providing a consistent structure from defining the investment question through to decision-oriented analysis.