Invenio Protocols / Research Protocol
Governed intelligence for mandates that cannot afford opaque output.
Every data point, estimate and conclusion is tied to a documented source trail, a confidence label and a human review step before it enters an investment-committee file.
§ 01 Boundary
Evidence boundaries before intelligence production
Each engagement begins with a defined mandate boundary: target vertical, geography, acquisition criteria and exclusion zones. This prevents drift into over-broad list-building and keeps the work anchored to the decision being made.
All research is executed inside that boundary, with a clear separation between primary filings, third-party data, peer benchmarks and analyst interpretation.
- 01 Target vertical — the sub-sector the mandate actually covers
- 02 Geography — markets in scope, and those deliberately outside it
- 03 Acquisition criteria — size, ownership profile and target type
- 04 Exclusion zones — names and segments to be left out, for any reason
- 05 Evidence hierarchy — which sources take precedence when they conflict
§ 02 Classification
Every claim is classified before it enters the file
Invenio separates source-backed evidence from estimates, benchmarks, inference and hypothesis, so investment teams can see where the evidence is hard, where judgement is being applied, and where further diligence is required.
- 01 Verified fact A claim supported by primary evidence, filings, disclosures, official sources or directly traceable documentation.
- 02 Sourced market estimate A market figure, company estimate or transaction reference supported by a named third-party source.
- 03 Directional benchmark A proxy or comparative indicator used when direct data is unavailable but market context remains decision-useful.
- 04 Invenio inference A clearly labelled analytical judgement derived from observed patterns, source trails or comparable evidence.
- 05 Speculative hypothesis A tentative view requiring further diligence, data-room access or management confirmation before being relied upon.
§ 03 Source trail
Every material claim remains traceable
For every target or sector data point, Invenio maintains a structured source log capturing where the information came from, when it was extracted, and how reliable it is judged to be.
Material judgement calls are recorded in an assumption register, together with their impact on target ranking, risk classification or valuation logic. Investment teams can challenge, update or discard assumptions explicitly, rather than discovering them implicitly inside a model.
Where information is missing or filings are sparse, the protocol does not fill the gap with false precision. It labels the item as data-room dependent, proxy-based or unobservable, then pushes that uncertainty into the diligence agenda.
01 Revenue concentration risk requires confirmation Directional benchmark · grade 03
- Source
- Sector peer filings, no primary disclosure available for the target
- Extracted
- Evidence status
- Proxy-based, no primary filing available
- Confidence
- Medium
- Diligence action
- Confirm customer concentration in data room
A specimen record. Open it to see the trail carried by every material claim in an Invenio file.
§ 04 Review
Human review before mandate-ready delivery
All outputs pass through a human review layer before delivery. That review includes a correction log and an internal Research Output Evaluation Framework scoring source quality, coverage completeness, valuation credibility, buyer relevance and diligence utility.
No engagement clears review until critical claims are traceable to underlying evidence, speculative content remains controlled, and red-flag items are paired with explicit diligence actions.
In practice, Invenio outputs are designed to read like institutional workpapers.
- 01 Research output
- 02 Source review
- 03 Assumption challenge
- 04 Risk classification
- 05 Client-ready intelligence
§ 05 Risk translation
From research signals to investment decisions
Invenio applies structured risk lenses to convert fragmented market, company and sector evidence into decision-ready signals.
The objective is not a longer list. It is to identify where a target may require pricing adjustment, additional diligence, contractual protection or removal from the mandate universe. Each risk output connects analytical evidence to a practical pre-IC action.
- 01 Evidence signal — what the sources actually show
- 02 Risk interpretation — what it means for the thesis
- 03 IC implication — how it changes the decision
- 04 Diligence action — what would resolve it
- Classification
- Proceed
- Classification
- Price-adjust
- Classification
- Deprioritise
- Classification
- Exclude
§ 06 Output
Intelligence built to survive scrutiny before capital is committed.
A source-linked, uncertainty-aware intelligence file for decision-makers who need more than a formatted long list.
- 01 Source-linked
- 02 Confidence-labelled
- 03 Human-reviewed
- 04 Risk-translated
- 05 Pre-IC ready
§ 07 Intake
Discuss the protocol.
Send a short outline of your mandate, coverage gap or diligence question. An anonymised description is enough to begin.