Corporate Advisory

We advise the companies we're prepared to invest in.

Powerhouse is a merchant capital partner to emerging companies. Our approach creates alignment with our corporate clients, driven by a simple brand promise: we put our money where our mouth is and invest our own capital in every capital raising we lead.

Aligned Capital

We are fastidious about register construction.

We have deep relationships with small cap funds, family offices and our Cornerstone Club network. Because we invest our own capital raising we lead, our network backs our conviction and lets the equity story play out. We keep educating the broader market and upgrade the register as the market cap grows.

PHOTO-2026-07-28-13-26-10
A Powerhouse roadshow lunch — management in front of investors.

Track record

Deals we have led.

Recent transactions across ECM and corporate advisory. We invested our own capital alongside our network in every ECM deal below.

Sprout Organic

ASX:NGS

Industrials

$10m

M&A: Sell Side

Corporate Advisor
July 2026

Tetragon Energy

ASX:TET

RESOURCES

$4m

IPO

Lead Manager
July 2026

Variscan Mines Ltd

ASX:VAR

RESOURCES

$5m

Placement

Joint Lead Manager
May 2026

Peak Processing Ltd

ASX:PKP

INDUSTRIALS

$2.4m

Convertible Note

Lead Manager
April 2026

AusQuest Limited

ASX:AQD

RESOURCES

$10m

Placement

Co-manager
December 2025

Pivotal Metals Limited

ASX:PVT

RESOURCES

$4.2m

Placement

Lead Manager
October 2025

Nordic Resources

ASX:NNL

RESOURCES

$14m

Placements

Lead Manager
May - October 2025

Sarama Resources

ASX:SRR

RESOURCES

$2.7m

Placement

Lead Manager
July 2025

Metal Powder Works

ASX:MPW

Industrials

$10m

RTO

Corporate Advisor
December 2024 2026

Revaia (Pty Ltd)

RESOURCES

$6m

Capital Raising

Corporate Advisor
December 2024

What we do

Four services, one aligned model.

01

Equity Capital Markets

We lead manage capital raisings for high-conviction emerging companies across the full ASX listing journey, from pre-IPOs and IPOs through to reverse takeovers (RTOs). We lead manage secondary raisings for listed micro-caps, including placements, entitlement offers and hybrid issues. On every raising we lead, we invest our own capital on the same terms as our network and actively support the stock in the aftermarket.

02

Capital Markets Support

We advise corporate clients on capital markets strategy. Beyond the transaction, we continue building the equity story and keep you in front of the right investors through corporate access, roadshows and promotion.

03

M&A:Sell-Side

We prepare the business or asset for sale, position it, and run a competitive process across strategic and financial buyers to maximise value for shareholders.

04

M&A:Buy-Side

For listed companies pursuing inorganic growth, we identify and approach the right targets, lead the negotiation and structuring, and arrange funding through deep investor relationships.

YOUR TEAM

Aligned and experienced team.

Richard Rouse

Head of Advisory

Over 14 years across corporate advisory, equity capital markets, institutional sales and equities research. Advises ASX-listed and private companies on capital raisings, the ASX listing journey and M&A.

Doron Eldar

Executive Director

Tech entrepreneur and venture capitalist with deep international networks. Partner at SIBF, an Israeli venture capital firm, with a background spanning corporate strategy, business development, M&A and go-to-market.

Conor Daley

Corporate advisor

Corporate advisor specialising in ECM transactions for ASX-listed and private companies, M&A and private equity transactions.

Talk to us

Considering a raise, listing, or sale?

An investor rather than a company? Co-invest alongside us through the Cornerstone Club.

Will Cunning

Corporate Advisor

Conor brings expertise in ECM and corporate advisory, with a track record in transactions and capital raisings for ASX-listed and private companies​. He advises institutional and wholesale clients across ECM, corporate advisory, M&A, and private equity transactions in the childcare sector.​ Conor has 6+ years at a boutique corporate advisory firm in Melbourne; a BA in Politics & International Relations (University of Melbourne) and Kaplan Tier 1 Securities certification.

Will Cunning

Investment Manager

Will has worked with the Aliwa Alpha fund for over 3 years and has prior experience in small and mid-cap equities across both tech and industrials. Prior to working at the Alpha Fund, William spent 3 years at a boutique research firm providing stock coverage to Australia’s top small and mid-cap institutional fund managers. Before entering financial markets, William worked in technology consulting at Gartner International and ran operations and analysis at a successful Brisbane based SaaS startup.

Ben Hodge

Advisor

Ben has a diverse and accomplished background in business and technology. He has led, founded, and successfully exited businesses in the IT and medical devices industries, showcasing his entrepreneurial skills and ability to navigate complex technological sectors. For the past 2 and a half years, Ben has acted as Investment officer at PVL and provided research and analytical capabilities to the PVL investment team.

Richard Rouse

Head of Advisory

Richard has over 14 years of expertise across corporate advisory, equity capital markets, institutional sales and equities research. He specialises in advising ASX-listed and private companies on capital raisings, the ASX listing journey, secondary issues and M&A. Richard is passionate about structural growth opportunities, special situations and advising public companies on capital markets strategy.

Doron Eldar

Executive Director

Doron is a tech entrepreneur and venture capitalist with over a decade of senior leadership experience on both sides of the industry. He’s a Partner in SIBF, an Israeli Venture Capital firm with expertise in corporate strategy, business development, M&A, and go-to-market strategies. He is deeply involved in VC leveraging his extensive background to identify and nurture high-potential startups. He has held various managing positions in both private and public companies, driving growth, spearheading strategic initiatives, and facilitating successful exits. His passion lies in fostering innovation and guiding businesses toward sustainable success.

Dave McNamee

Executive Director

Dave is the founder and Portfolio Manager at Aliwa Funds Management, a boutique investment firm focused on finding, investing in, and helping Australia’s best emerging companies. His role has naturally extended to taking an active role with board and management teams helping them deliver on execution, strategies and capital market initiatives. He has invested in a broad range of sectors and built strong relationships with industry experts and investment networks.

James Kruger

Executive Chairman

James is a seasoned executive and investment banker. With 20+ years at Macquarie Group in senior roles, he was involved in commodities, derivatives, investment banking, funds structuring and group-wide strategies. Further, James is a long-time investor in quantum computing, materials science and other next frontier technologies, and has a passion for improving the sovereign capability of Australia through the commercialization of its research and IP capabilities.

Geoffrey Nicholas

Chief Financial Officer
Geoffrey is an experienced business leader with a proven track record in business acquisitions and operational integrations, most recently leading the integration of five acquisitions in the space of two years at 5G Networks. With more than 18 years’ experience in senior finance functions in the IT sector both in Australia and internationally, Geoffrey has applied the same dedicated focus on financial metrics and performance to drive these organisations forward.

Will Cunning

Investment Manager
Will has worked with the Aliwa Alpha fund for over 3 years and has prior experience in small and mid-cap equities across both tech and industrials. Prior to working at the Alpha Fund, William spent 3 years at a boutique research firm providing stock coverage to Australia’s top small and mid-cap institutional fund managers. Before entering financial markets, William worked in technology consulting at Gartner International and ran operations and analysis at a successful Brisbane based SaaS startup.

Ben Hodge

Advisor
Ben has a diverse and accomplished background in business and technology. He has led, founded, and successfully exited businesses in the IT and medical devices industries, showcasing his entrepreneurial skills and ability to navigate complex technological sectors. For the past 2 and a half years, Ben has acted as Investment officer at PVL and provided research and analytical capabilities to the PVL investment team.

Richard Rouse

Head of Advisory
Richard has over 14 years of expertise across equity capital markets, merges & acquisitions, corporate advisory and equities research. He specialises in advising private and ASX-listed companies on capital raising, the ASX-listing journey, secondary issues and M&A. Richard is passionate about assisting technology-led and structurally growing companies with capital markets strategy.

Doron Eldar

Executive Director
Doron is a tech entrepreneur and venture capitalist with over a decade of senior leadership experience on both sides of the industry. He’s a Partner at STIF, an Israel Venture Capital firm with expertise in corporate strategy, business development, M&A, and go-to-market strategies.
He’s closely involved in VC investment in the Australian education and identity sectors and established a tech park and maker hub, guiding scale-ups in AI, blockchain and robotics. His passion lies in fostering innovation and creating pathways toward sustainable success.