You Had Me at LOI: A Map of Deal Connections in the Middle Market

Ah, Valentine’s Day. Chocolate, roses and candle-lit dinners. New relationships built and old flames reignited. As a business designed to help people build relationships, albeit professional ones, it’d be a little odd if we didn’t acknowledge the holiday, right?

Although the “Valentine’s Day” for dealmakers is usually in September or October, we thought today would be a great day to look at all the new relationships built and old relationships nurtured last year. Every time a deal comes to market, intermediaries connect with investors around the country to start long-distance relationships. We were curious – where are the most long-distance relationships happening? Which cities have the most ‘dates’?

The video below shows every connection between every Member on Axial on the day it happened.

While most of the connections seemed to make sense – deeply connected activity on the Atlantic seaboard and the expected cross-country SF to NY pursuits – there were a few interesting trends that popped out. While domestic ‘dates’ definitely dropped off during the holiday seasons, international connections exploded. And, though west coast connections are expected, Portland was the belle of the northwest, going steady with both LA and NY.