Operator mandate · CAP-07
Qualified demand, and the compliance work behind it.
For data centers, neoclouds and developers with capacity to fill. We identify the ultimate offtaker, run the KYC and screening, and confirm the commitment is real — working alongside your compliance team, not around it. Where the deal needs more than a tenant, we can bring the offtaker, the compute and the term structure with it.
What an operator mandate covers
- —Qualified offtake sourcing
Requirement, budget, decision authority and timeline established before your name is mentioned. If any of the four is missing, it is not an introduction yet.
- —KYC, compliance and credit
Entity and ownership verification, ultimate offtaker identification, sanctions and AML screening, and signatory authority — run before an introduction and worked through alongside your own compliance team rather than dropped on it.
- —Anchor tenant placement
For new builds and expansions, the first tenant sets the financing case. We work the requirement and the term structure together, because one is worthless without the other.
- —Term structure advice
What the buy-side will actually concede on ramp, escalators, redundancy tier and expansion rights — so your first offer is credible rather than a starting position everyone knows is a starting position.
- —Deal assembly
Where a transaction needs more than a tenant, we can bring the missing pieces — the offtaker, the compute that fills your halls, or the term structure the financing case needs. Three searches that would otherwise never have met.
- —Positioning against the market
Where your capacity genuinely wins and where it does not. Knowing which requirements to decline is worth as much as knowing which to chase.
We can bring the whole deal, not just the demand
It is the first thing operators ask about, so it is worth answering directly.
A capacity deal often stalls because it needs three things that live in three different places: an offtaker with real demand, energised capacity that fits it, and compute to fill it. Normally those are three separate searches, run by parties who never meet, on three different timelines.
We hold relationships at every layer, which means we are not limited to bringing you a tenant. Depending on what the deal needs, we can bring the offtaker, source the compute that lands in your halls, and structure the term so the financing case works — assembling a transaction that would not otherwise have existed.
Every party involved knows we are working every part of it, and we say so at the outset. Disclosure is the mechanism that keeps this straight, not exclusivity, and it is reinforced by the fact that we hold no inventory and take no position in the outcome. We do not earn more from one configuration than another.
Within that, knowing how buyers think is exactly what makes the demand we bring worth taking:
- It is priced to close. We know what comparable deals are actually clearing at, so a requirement arrives with a realistic expectation attached rather than one anchored on a number nobody in this market is paying.
- The objections are already surfaced. Redundancy tier, ramp, power pass-through mechanics, exit rights — the terms that stall a deal in week six have usually been discussed by week one.
- The requirement is real. Most of what a capacity sales team spends time on is not a deal. We absorb that filtering before it reaches you.
- You are not bidding blind. Where we can say so without breaching a confidence, you will know whether you are the shortlist or the stalking horse.
A buyer who overpays becomes a difficult tenant. An operator who wins on a term the buyer later regrets does not get the renewal. Neither side is served by a deal built on a wrong number.
That is not a diplomatic position, it is a commercial one. We are only useful to this market for as long as every side keeps taking our calls, which makes a deal that holds up in year three worth more to us than a deal that closes this quarter.
The KYC and compliance work, done before it reaches you
This is the part operators tell us costs them the most time and creates the most risk, and it is where we do the heaviest lifting.
In GPU and capacity deals, the entity that signs is frequently not the entity whose workload consumes the compute. A neocloud contracts for a named offtaker; a reseller sits between you and the balance sheet that actually stands behind a five-year term. Working out who is really there is not a formality — it is the difference between a contracted megawatt and a contracted risk.
We run that work first, and we run it alongside your team rather than handing you a file and stepping back.
- Entity and ownership verification. The signing entity, the parent, the guarantor, and the beneficial ownership behind them.
- Ultimate offtaker identification. The party whose own workload consumes the capacity and whose balance sheet carries the term. Named explicitly, with written consent before anything is disclosed to you.
- Sanctions, AML and adverse media screening. Run before an introduction, not after a term sheet is circulating.
- Signatory authority. Confirmation that the person negotiating can actually bind the entity, which is a more common failure point than it should be.
- Commitment readiness. Budget approved, signatory identified, NDA in place, deposit capability established. If those are not in evidence, it is not an introduction yet.
- Alongside your process, not instead of it. Your credit and compliance teams have their own standard and their own regulator. We work to it, supply what they need in the form they need it, and stay on the file until they sign it off.
Your compliance team should be verifying what we found, not starting from a blank page.
Everything gathered in this process is held in confidence and never disclosed without the offtaker's written consent. That protection is what makes offtakers willing to answer the questions honestly in the first place — which is precisely why the answers are worth something to you.
What the market actually commits to
Term expectations differ sharply by product, and a mismatch here stalls more deals than price does.
Compute offtakers commit in three-to-five-year windows, because that is roughly the horizon over which a GPU generation and a workload plan both stay credible. Data center operators underwrite colocation on five to ten years, because that is what the financing case requires.
The gap between those two numbers is where a great many deals quietly die. An operator asking a compute offtaker for a ten-year term is asking them to underwrite two hardware generations they cannot forecast; an offtaker offering three years on a build that needs seven does not clear the investment committee. The structures that bridge it — staged terms, expansion rights held at a pre-agreed basis, guarantor support, renewal mechanics tied to refresh cycles — are what we spend the negotiation on.
Which structure fits depends on what you are actually filling. A hall waiting on a GPU or GPUaaS offtaker is a different problem from a powered shell that needs an anchor tenant before financing closes, and both are different from capacity that could absorb one of the builds already in motion.
Who we bring you
Enterprise infrastructure teams, AI labs buying training compute, sovereign and government AI programs, and hyperscaler capacity teams — across every region we cover.
Asked on this mandate.
01What do you actually do on KYC and compliance?
Entity and ownership verification, identification of the ultimate offtaker and the balance sheet standing behind the term, parent and guarantor confirmation, sanctions, AML and adverse media screening, and confirmation that the person negotiating can bind the entity.
All of it before an introduction, and all of it worked through alongside your own credit and compliance teams rather than handed over as a file. Your regulator and your standard govern the outcome — we supply what they need in the form they need it and stay on the file until it is signed off.
02What term will offtakers actually commit to?
Compute and GPUaaS offtakers commit in three-to-five-year windows, because that is roughly the horizon over which a GPU generation and a workload plan both stay credible. Colocation and capacity deals underwrite on five to ten years, because that is what the financing case requires.
That gap is where a great many deals quietly die, and bridging it — staged terms, expansion rights at a pre-agreed basis, guarantor support, renewal mechanics tied to refresh cycles — is most of what the negotiation is actually about.
03We already have a sales team. What do you add?
Reach and filtering, not headcount. Your team is excellent at converting a qualified conversation; the expensive part is finding it. We work from an existing bench of vetted demand and from relationships across the buy-side that take years to build, and we only bring forward requirements we have already established are real, funded and decision-ready.
04You also advise buyers. Does that work against us?
It is the reason we are useful. We know what buyers are actually paying, what terms they will genuinely concede and which objections are real, which means the demand we bring you is priced to close rather than priced to negotiate for six months.
We are frequently working several parts of the same deal at once — that is often exactly what makes it happen. Every party involved knows it, because we say so at the outset. Disclosure is what keeps it clean, and we hold no inventory and no position in the outcome, so we do not earn more from one configuration than another.
05How do you qualify demand before introducing it?
Requirement definition, budget confirmation, decision authority and timeline — established before your name is mentioned. If any of the four is missing, it is not an introduction yet. This is the whole point of the mandate.
06Will our availability be shopped around the market?
No. We are not paid for circulating anything, so we do not. Your available capacity, your pricing floor and your commercial position stay with us, and we approach demand directly.
07What does this cost an operator?
We are a small line in your operating cost and we work as an extension of your team. The structure is agreed up front and there is nothing contingent hidden in it.
The Capacity Desk
Where requirements and availability meet. Send a specification either way and get a first response inside one business day.
Enter the desk →MarketsWhere AI capacity is actually available
Power availability rather than demand decides the map. A market-by-market view, useful for positioning your own site against the alternatives.
Read →The modelHow we are structured
No inventory, no position in the outcome, and nothing circulated to find a counterparty. The reasons it holds.
See the model →Send us the specification and the availability date.
Megawatts, density, region and the date it energises. We will come back with demand that has already been qualified.