La Honda Advisors Research
Advisory Approach
La Honda Advisors provides personalized, hands-on transaction advisory services with a philosophy that business is fundamentally personal. Founded on the principle that "we don't advise great companies, we advise the people who build them," the firm operates with a deeply relationship-driven approach to M&A advisory. Their thesis centers on the belief that the best outcomes emerge from treating each engagement as a unique partnership, where the bankers become an extension of the client's team—available 24/7, making all outbound calls personally, and seeing transactions through from kickoff to closing.
The firm's approach emphasizes five core values: trust (complete transparency from start to finish), creative strategies (advising on the full spectrum of alternatives), dedication (hands-on constructive re-evaluation of all materials), expertise (partners with 30+ year networks who make direct calls), and focus (seeing deals all the way through). Unlike larger banks where junior staff often handle outreach, La Honda's partners personally contact their relationships, leveraging three decades of accumulated trust with decision-makers at strategic acquirers and private equity firms.
Sector Focus
La Honda Advisors has deep expertise across the technology landscape, with particular strength in software and IT services. Their transaction history spans infrastructure software, cybersecurity, SaaS platforms, IT solutions providers, and data/AI companies. The firm has also built significant practices in consumer technology and direct-to-consumer brands, design-led innovation consultancies, and technology-enabled healthcare services.
Within software, they have executed transactions for companies in analytics SaaS (KnowledgeHound), mobile roaming software (Mobileum), workload virtualization (Virtual Bridges), enterprise application platforms (Partnerpedia), and cloud infrastructure (GoGrid). In IT services, they have advised IT solutions providers (Rahi Systems, Integrated Archive Systems, InterVision) and quality assurance specialists (Q Analysts). Their consumer technology practice includes successful exits for DTC brands like Tuft & Needle (mattress disruption) and Fracture (photo printing), while their design/UX practice encompasses innovation agencies (Gravity Tank, Cooper Software, Adaptive Path).
The firm's cybersecurity and infrastructure software expertise was further enhanced in 2025 with the addition of Jonathan Lejuz and Zach Adamonis as partners, bringing additional experience from KeyBanc Capital Markets' software group and D.A. Davidson's infrastructure software and cybersecurity practice.
Deal Track Record
La Honda Advisors has represented 70+ clients across 20+ industry verticals, contacting 500+ global corporate strategics on behalf of sellers. Their transaction history includes both sell-side M&A and capital raising mandates, with deal sizes typically in the lower middle market ($10M-$250M enterprise value).
Notable transactions include:
- KnowledgeHound → YouGov: Sale of a search-driven analytics SaaS company to the international data and analytics group
- Rahi Systems → Wesco International: Acquisition of the fast-growing IT solutions provider by the electrical products distribution giant
- ZPE Systems → Legrand: Sale of the secure out-of-band management infrastructure manufacturer to the French industrial group
- Fracture → Summit Partners: Majority stake investment in the DTC photo print company by the private equity firm
- Tuft & Needle → Serta Simmons Bedding: Merger of the DTC mattress disruptor with the leading bedding manufacturer
- Neato Robotics → Vorwerk: Acquisition of the robotic vacuum innovator by the German home appliances group
- Mobileum → Audax Private Equity: Acquisition of the mobile roaming analytics leader by private equity
- Gravity Tank → Salesforce: Acquisition of the design-led innovation consultancy by the CRM giant
- InterVision → Huron Capital Partners & RLG Capital: Acquisition of the technology solutions integrator
- Smart Ag → Raven Industries: Acquisition of the autonomous farming technology pioneer
Process & Fee Structure
La Honda Advisors runs a highly personalized sell-side process where partners make all outbound calls to their 30+ year network of relationships. Their process includes thorough assessment of the client's business and all available strategic alternatives, constructive re-evaluation of positioning and financial models, customized marketing scripts for each buyer, and hands-on negotiation of all offers.
The firm emphasizes creative problem-solving when deal challenges arise, drawing on three decades of transaction experience to find innovative solutions that keep deals on track. Their team works 24/7 availability, ensuring they can address issues promptly and maintain momentum.
While specific fee structures are not publicly disclosed, as a FINRA-registered broker-dealer, La Honda likely employs industry-standard success fee models (typically modified Lehman or similar percentage-based fees on enterprise value) with monthly retainers credited against the success fee.
Buyer Network
La Honda Advisors maintains relationships with 500+ global corporate strategics and a broad network of financial buyers including venture capital, growth equity, private equity, family offices, institutional investors, hedge funds, and debt providers. Their 30+ year tenure in Silicon Valley has enabled them to build deep trust with decision-makers at both strategic acquirers and private equity sponsors.
Notable buyers from their transaction history include:
- Strategic Acquirers: Salesforce, Vorwerk, Legrand, Serta Simmons Bedding, Wipro, Raven Industries, Wesco International, YouGov
- Private Equity Firms: Summit Partners, Audax Private Equity, Huron Capital Partners, Decathlon Capital Partners
- Corporate Strategic Buyers: Across technology, industrial, and consumer sectors
The firm's buyer network strength skews toward strategic acquirers given their Silicon Valley roots and technology focus, though they have substantial private equity relationships for recapitalizations and growth capital mandates.
Competitive Positioning
La Honda Advisors differentiates through:
- Principal-only involvement: Partners make all calls personally, not junior staff
- 30+ year relationships: Three decades of accumulated trust with decision-makers
- 24/7 availability: Team is fully dedicated to seeing deals through
- Silicon Valley heritage: Deep roots in technology ecosystem since the 1990s
- Creative problem-solving: Proven ability to navigate complex deal challenges
Not a Fit If
Based on their focus and transaction history, La Honda Advisors is likely not a fit for:
- Businesses below $5M enterprise value (their sweet spot starts at $10M+)
- Heavy industrial or traditional manufacturing outside of technology-adjacent sectors
- Pure asset sales or distressed situations (they focus on going-concern technology businesses)
- Founders seeking a limited process—their value is in exhaustive outreach to their network
Team
The firm is led by four partners with combined 80+ years of investment banking experience:
David Ketsdever, Partner: Three decades of investment banking experience with over 25 years in Silicon Valley. Previously Managing Director and Head of TMT Investment Banking at Cowen & Company, President of SVB Alliant, and Head of Software Banking at Merrill Lynch and Montgomery Securities. MBA from Harvard Business School, Economics with Honors from University of Chicago.
Julie Levenson, Partner: 30+ years of investment banking experience focused on M&A and capital raising for growth companies in technology, IT services, and consumer technology. Previously Head of Private Capital Markets at Cowen & Company, Head of Private Financing at Houlihan Lokey, and Head of Technology Private Equity at Merrill Lynch. JD/MBA from University of Pennsylvania Law School and Wharton, Philosophy with Honors from Dartmouth.
Jonathan Lejuez, Partner (joined 2025): 15+ years of investment banking experience across enterprise and information technology, specializing in infrastructure software, cybersecurity, and adjacent areas. Previously Managing Director at D.A. Davidson leading the infrastructure software and cybersecurity practice. CFA charter holder, finance and accountancy degree from Providence College.
Zach Adamonis, Principal (joined 2025): 10 years of technology investment banking experience focused on infrastructure software, cybersecurity, and data/AI. Previously Vice President in the software group at KeyBanc Capital Markets. Economics degree from Northwestern University.
Geographic Coverage
Headquartered in Menlo Park, California with additional team presence in Austin, Texas and Seattle, Washington. The firm serves clients nationally with a focus on Silicon Valley and West Coast technology companies, though their transaction history includes geographic diversity across the United States.