// Blog
Notes on building forever.
Essays on permanent capital, AI-native SaaS economics, and what we're learning operating our brands.
/
// Active:
// Filter by topic
2 of 26 essays match your filters
May 19, 2026·Investors·5 min read
Customer concentration is the most underpriced risk in lower-middle-market SaaS.
How Cobalt Glacier underwrites customer concentration on three axes — revenue share, contractual entrenchment, and narrative dependence — and the diligence workstream we actually run.
Read essay
May 16, 2026·Founders·6 min read
The Cobalt Glacier B2B SaaS due diligence checklist.
Six diligence workstreams — commercial, product, customer, financial, legal, and operational continuity — and the exact items a founder can prepare to compress the timeline without compressing the rigor.
Read essay
// Subscribe
New essays, in your inbox.
One email when we publish. No drip campaigns, no upsells — just the work.