// Blog
Notes on building forever.
Essays on permanent capital, AI-native SaaS economics, and what we're learning operating our brands.
10 of 26 essays match your filters
Buying out a co-founder before a permanent-capital exit.
Unresolved co-founder cap-table situations are the most common reason a clean B2B SaaS process stalls. The fix is a documented buyout twelve to eighteen months before the holdco conversation, not during it.
Integration anti-patterns: what we deliberately do not consolidate across a SaaS holdco.
Brand consolidation, product surface merging, sales pooling, support pooling, and unified billing — the five integration anti-patterns Cobalt Glacier refuses, and the willingness test that keeps the platform-brand line honest.
How we migrate pricing after a B2B SaaS acquisition without breaking NRR.
A four-quarter pricing playbook — instrument, repackage, fix contracts, then move list — designed to capture unrealized economics in an acquired SaaS business without spending the trust that made it acquirable.
Why we pass on most venture-backed B2B SaaS targets.
We pass on most venture-backed SaaS targets not because the businesses are bad, but because the capital stack is mismatched with a permanent-capital holding period. The structural reasons, and the narrow conditions under which we lean in.
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.
How permanent-capital holdcos actually pay founders: equity rolls, earn-outs, and ongoing economics.
Cash at close, a meaningful equity roll into the holdco, an operator-controlled earn-out, and ongoing operator compensation — the four building blocks of a Cobalt Glacier deal and the kind of founder it fits.
The first 100 days: what we change after a Cobalt Glacier acquisition (and what we deliberately don't).
The integration playbook we run after every acquisition. Four things change in the first 100 days. Roadmap, pricing, brand, and team deliberately don't.
Selling your B2B SaaS to a permanent-capital holdco: what's actually different.
Diligence, deal structure, founder role, and post-close life all look different in a holdco process than in a strategic or PE sale. A practical guide for founders weighing the conversation.
SaaS roll-ups vs permanent-capital holdcos: what actually changes after close.
Roll-ups and permanent-capital holding companies look similar on a deal page. The operating posture, brand decisions, and life of the founding team after close are not the same.
Operator continuity is the real asset.
Most B2B SaaS acquisitions quietly destroy the operating team that built the business. Permanent capital is the only structure designed to keep them in the building.
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