For brokers and advisors · Private launch
Discuss the deal once. Know who to call first.
A ranked first call list against mandates reviewed by lenders, with why each lender fits and where the credit stretches. You approve every recipient. Nothing is broadcast.
$25.0M unitranche
Founder-owned · Non-sponsored · Mountain West · $6.7M EBITDA
- Non-sponsored direct lender $15–40MFacility inside the range. Founder-owned services is a stated preference.Strong fit
- Lower middle market credit fund $10–50MUnitranche is the core product. Active in residential services.Strong fit
- Generalist middle market BDC $20–75MFacility size and structure align.Fit with a stretch
- Family office credit vehicle $10–30MNon-sponsored focus. Flexible on covenants.Fit with a stretch
Why brokers and advisors join
A shorter list. A better first call.
- 01
A better first call list
Lenders that do this structure at this size and are deploying now.
- 02
A reason for every lender
Each lender comes with why it fits and the stretch to confirm, so the list stands up in front of your client.
- 03
You run the process
Approve a small first wave. Hold the rest for a second wave, or direct the deal to lenders you already know.
How the list is built
A first call list you can defend.
Stage 1 of 5 · Market
A long list means more calls and less conviction.
Most of those names will pass on size, structure or ownership.
- 01Non-sponsored direct lender · $15–40MAppetite unknown
- 02Lower middle market credit fund · $10–50MAppetite unknown
- 03Junior capital provider · Mezzanine onlyAppetite unknown
- 04Generalist middle market BDC · $20–75MAppetite unknown
- 05Large cap private credit fund · $75M+Appetite unknown
Behind every lender on the list
Why this lender fits. And what to confirm first.
A lender without a reason is not useful on a live process. Each lender is shown against the mandate it reviewed.
Why this lender is first on the list
HVAC services · $25.0M unitranche · $6.7M EBITDA · Founder-owned
| Parameter | This credit | Lender mandate | Read |
|---|---|---|---|
| Facility size | $25.0M | $15–40M | Within range |
| Structure | Unitranche | Senior / unitranche | Aligned |
| Ownership | Founder-owned | Non-sponsored | Aligned |
| Sector | Residential HVAC services | Residential services | Stated preference |
| EBITDA | $6.7M | $5.0M minimum | Above minimum |
| Leverage | 3.7× requested | 3.5× · 3.75× by exception | Exception to confirm |
Why it fits
Facility size sits inside the $15–40M range. Founder-owned residential services is a stated preference, and EBITDA clears the $5.0M minimum.
Where it stretches
Requested leverage of 3.7× is above the 3.5× maximum and inside the 3.75× exception range. Confirm the exception and current hold appetite.
- Broker approves
- Lender opts in
- Introduction
Who sees your deal
No one, until you approve them.
Nothing leaves your workspace on upload. You see each lender’s mandate and the reason for the fit before you approve it, and an approved lender receives an anonymized teaser first.
- Nothing is broadcast
- Lenders are described by type until they opt in
- On uploadNothing
The brief stays in your private workspace while you review and correct it.
- After you approve a lenderAn anonymized teaser
Only the lenders you select receive it, with the reason for the fit attached.
- After the lender replies InterestNames and contact details, both ways
The introduction is made and Ninth Wave steps back. The relationship is yours.
What you actually do
Discuss the deal once. Review it before anything is screened.
Reid is Ninth Wave's AI analyst. Upload the CIM or teaser, or talk the deal through in writing.
- Facts tied to your source materials
- Missing information stays visibly unknown
ReidPlease walk me through the company, the transaction, and the financing requirement.
YouFounder-owned HVAC services, about $6.7 million of EBITDA. Refinancing the bank group and funding new branches with a $25 million unitranche.
ReidIs the company sponsored or independently owned, and what is the expected timing?
YouIndependent, no sponsor. Indications in three weeks.
ReidI have it at 3.7× requested, non-sponsored, three weeks to indications. I will prepare the draft profile for your review before any lender is screened.
The terms
Plain answers before you ask.
- What you get
- A ranked first call list with the reason each lender fits, and a plain answer when no lender on the network fits.
- Your relationship
- Your client and your engagement stay yours. Ninth Wave approaches no lender on your deal without your approval, makes the introduction, and steps back.
- Cost
- No platform fee during the founding cohort. Future pricing will be announced before it applies.
Discuss the deal once. Nothing is screened or shared until you say so.
Join as a brokerWho is behind it
Built by a credit investor. Run personally.
Charlie Madden spent more than a decade at Barclays and Colbeck Capital, across leveraged finance syndication and special situations credit underwriting.
Lender mandates are nuanced and change with the portfolio. Deal information arrives in inconsistent formats. Ninth Wave organizes both so a broker can choose the first calls well, without giving up control of the relationship. Founding participants work directly with Charlie.
- Leveraged finance
- Barclays
- Special situations
- Colbeck Capital
- In credit markets
- 10+ years
Sample output
The introductory financing teaser.
A concise brief for opening lender conversations before confidential materials are shared. The sample is a separate fictional example, shown with names for illustration.
Illustrative. The sample contains no live lender, borrower or sponsor information.
Frequently asked
What brokers ask first.
How large is the network?
Ninth Wave is in private launch and the founding cohort of lenders is onboarding now. We do not publish network size. When no lender on the network fits your deal, the result says so.
What does a lender see before opting in?
An anonymized teaser and the reason the credit fits its mandate. Your client's name and your materials are not included. Contact details move only after the lender replies Interest.
How is AI used in deal intake?
Reid turns your written chat and uploaded materials into a draft deal profile. You can dictate into the chat draft and edit it before sending. You review and correct the terms before matching. AI supports information capture and ranking; it does not distribute an opportunity without your approval.
How does matching actually work?
The first stage removes hard conflicts such as check size, structure, industry, sponsorship, and other stated constraints. The remaining lenders are ranked against their confirmed profiles, with a concise explanation of the fit and any material stretch. Only one contact per firm is presented.
Can I direct a deal to lenders I already know?
Yes. If a lender is already on the network, you can send the deal to them directly rather than relying on the ranked list. Ninth Wave does not take ownership of an existing relationship.
What if the matches aren't strong?
The network is in its founding cohort, so early lists will be short and some deals will return no match. Charlie will tell you that directly. Additional lenders are not added merely to fill a list. Interest, passes, and outstanding responses remain visible in the workspace.
What happens after a lender opts in?
Ninth Wave sends a direct introduction email and the process continues between you and the lender. You can mark the outcome if you choose. It is used only to improve matching.
Who is behind Ninth Wave?
Ninth Wave was founded by Charlie Madden after more than a decade at Barclays and Colbeck Capital, working across leveraged finance syndication and special situations credit underwriting. Founding participants work directly with Charlie.
Get started
Open a private workspace.
Open a workspace and look around. Upload a deal when you are ready. Nothing is screened or shared until you say so.
- 01Verify your email and set a password
- 02Discuss the deal in a private workspace
- 03Network access is reviewed
- 04See the first call list and approve each recipient
Deploying capital instead? Go to the lender page