Everything you need to know about engaging RainCheck to evaluate a deal before you commit capital. RainCheck is deal diligence infrastructure for cultural and alternative assets, built for family offices and RIAs, and delivered as a diligence-as-a-service engagement rather than self-serve software.
RainCheck is a deal diligence service for cultural and alternative assets, entertainment, art, collectibles, and music catalogs among them. We take a deal you’re considering (a pitch deck, offering memorandum, or deal documents) and turn it into a structured report that surfaces risks, verifies claims against the documents provided, flags missing information, and gives you sharper questions to ask before you commit capital.
We run deals through RUES, our proprietary rating methodology, and the Diligence Completeness Score (DCS), which tells you how much of the underlying documentation is actually there to evaluate. The output is a structured report, not a yes/no verdict: what the deal is about, what risks stand out, what information is missing, and what to ask the sponsor next.
Family offices and RIAs evaluating deals in cultural and alternative asset categories, typically with an existing or growing alternatives allocation. We work directly with your deal team, not with individual retail investors.
No. See “Is RainCheck a financial advisor?” below.
Because the service exists so you can check before you invest, the diligence work you’d want done before taking a rain check on a deal, not after.
RainCheck covers investment, sponsor, and structural diligence, the parts of the process that require genuine cultural-asset expertise most RIAs and family offices don’t have in-house. A few adjacent pieces of a full diligence process are deliberately out of scope, so you know exactly what you’re getting and what stays with your own process or counsel.
No. Operational due diligence, confirming the fund administrator, auditor, and custodian, and reviewing internal controls and valuation policy, is a specialized function best handled by a dedicated ODD provider. If your deal needs it, ask us for a referral.
Not as part of standard tiers. Our Sponsor & Track Record Check reviews disclosed history and documentation; it is not the same as a live reference call. Reference outreach can be arranged as a separate, billed engagement, priced by the work involved rather than a fixed fee, since reachability and willingness to talk vary deal to deal.
Ongoing Coverage (above) covers new deal flow, not a position you’ve already committed capital to. Post-close monitoring, re-underwriting a position if something changes materially, is available as a separate paid engagement. Ask us about setting this up alongside a deal you’ve closed through RainCheck.
No. RainCheck informs your decision; it doesn’t touch execution. Legal documentation and closing stay with your counsel.
No, our diligence is desk-based. This applies to most of our asset categories by nature, but it’s worth knowing upfront if your deal would benefit from an in-person visit.
Documents & Security
Whatever you have on the deal, a pitch deck, offering memorandum, PPM, financials, or a deal link. The more complete the documentation, the higher the DCS and the sharper the report; we’ll tell you what’s missing either way.
Yes. Documents are used only to produce your report and are handled under the confidentiality terms of your engagement.
No.
Only the RainCheck team working on your engagement.
Yes, contact us and we’ll remove it.
You tell us a bit about your firm and your deal flow through a short qualification form. Once we confirm fit, you submit the specific deal through a deal-intake form, deal documents, a link, or both, and we scope the engagement to the tier that matches what you need.
Turnaround depends on the tier and the completeness of what you provide. A Deal Screen typically turns around fastest; a Full Underwriting Memo, which includes comparables and base-rate benchmarking, takes longer. We confirm a specific timeline at engagement.
Any of our nine cultural and alternative asset categories: Broadway and theater, film and TV, music catalogs, art, collectibles, and others. Engagements are scoped per deal, not limited to one category.
No. Start with the qualification form; most engagements begin with a single deal.
Diligence-as-a-service clients receive the delivered report, not platform access. You don’t need an account or login to work with us.
Reports & Methodology
A structured document covering what the deal is about, what risks stand out, what information is missing, and what questions to ask next, built from the documents you submit and our own research.
RUES is our proprietary rating methodology, scored across four weighted pillars specific to the asset category. It benchmarks a deal against comparables and historical base rates in that category, rather than predicting an outcome.
No. A high RUES score means the deal compares favorably on the factors we evaluate; it isn’t a recommendation. You’re making the investment decision, with better information.
DCS measures how much of the documentation needed to evaluate a deal was actually provided. A deal can score well on RUES and still carry a low DCS if key documents are missing, that gap itself is a flag worth noting before you commit.
Because what a sponsor hasn’t disclosed is often as important as what they have. Missing documentation is noted explicitly rather than assumed favorable or unfavorable.
The report reflects what was in the documents provided and our research at the time. If you have information that wasn’t included, let us know, we’re glad to revisit the analysis.
Pricing and Plans
RainCheck is priced by tier, not by subscription. Pricing reflects the depth of work involved, not a flat per-deal rate.
Tiers can be ordered individually or as a bundle. Many clients start with a Deal Screen and move deeper only on deals that clear it.
The ranges above reflect typical scope. Final pricing depends on the asset category, how much documentation the sponsor has provided, and the specific questions you need answered.
A retainer for active deal flow, priority turnaround on new deals you submit on a recurring basis. It is not the same as monitoring a position you’ve already invested in, see Scope below.
No. RainCheck is not a registered investment adviser, broker-dealer, or financial planner. We produce diligence reports to inform your decision; we don’t make investment recommendations or manage capital.
No. A favorable report does not guarantee a deal will perform, and a flagged risk does not guarantee it will materialize. RainCheck is diligence infrastructure, not a prediction of outcomes.
Ready to get a deal evaluated, or want to talk through fit first? Start with the qualification form, or book a call directly.
hello@getaraincheck.com