The desk starts with who will own or fund the company.
How the company runs, whether it has a pipeline, and whether the data is the asset decide the next act. The desk names that act and makes the introduction. The desk is paid on that work.
The company
You own the company. You get that reading before buyers see a CIM. Hours billed is a fact to match. Some buyers want the company as it runs today, hours and all, so they can take it through the change. Some want a firm software can already run. Sometimes the data is worth more by itself than the company would be on earnings.
The independent firm
You advise or represent companies. The next company you advise gets that reading and the introduction. You join as an independent firm, or as a principal.
The buyer
You buy the company, or you buy the product. You see companies that match how you actually buy. Some purchases keep the customers with the company. Some take the product and the customers with it.
The lender
You lend. You fund a borrower you can underwrite. A data-center loan still needs transmission contracted by a date.