February 20, 2026

Onshoring #6: Clean Structure Becomes Valuation

Eugene Zhang

Where do all these structural choices show up? At exit.

In earlier cycles, buyers focused mainly on growth, margins, and market share. Today, in deep-tech and infrastructure sectors, structural clarity is becoming just as important.

We’re seeing a gap between companies that are simply “operating in the U.S.” and those built for the U.S. from day one.

Clean structures lead to:

- Faster enterprise deals

- Fewer surprises in diligence

- Smoother IPO or M&A processes

Predictability often translates into higher valuation multiples.

Building a great company today is not just about product and market. It’s also about structure.

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