GPs are deepening their sector expertise and redefining value creation strategies to help their SaaS-focused portfolio companies gain and maintain a competitive advantage. Céline Moille, counsel in Goodwin’s Financial Services group, highlights to Real Deals that achieving a good exit multiple is now difficult "unless you have a grade A+ asset". She says that companies must be investor-friendly and regulatorily aligned. As deals progress, Moille says that common GP slip-ups include failing to assess whether a target is a data controller or processor, or ignoring data transfer restrictions (for example, for US hosting or unverified SCCs). Proactive due diligence is therefore crucial. "PE firms need to ask a lot of the target, to ensure they are very proactive and very efficient and be able to improve their solution in case of new technology or new regulation and want to do their best to stay at the top,” says Moille.