Extensive
due diligence,
on demand.
Upload the deck. Eight specialist agents stress-test the founder's numbers, audit the market thesis, and surface the risks the deck didn't mention. The Investment Committee dossier arrives in fifteen minutes.
Memorandum.
- 01 92% of revenue concentrated in three customers
- 02 OpenAI dependency with no fallback inference path
- 03 Founder's prior venture closed under SEC inquiry (2021)
Decks ship faster than diligence can catch up.
A founder polishes the cover slide while you triage forty more in your inbox. The few investors who diligence properly spend forty hours per deck. At deal-flow velocity, that breaks.
Pitch decks are sales documents.
The metrics are the ones that flatter. The market is the optimistic cut. The risks are the slide that didn't make it. Every deck reads like a thesis until you check it line by line.
Forty hours per deck, multiplied by the inbox.
A proper diligence pass costs a partner a full week. Analysts shortcut. The deals you say yes to and the deals you say no to are increasingly decided by what's at the top of the pile.
One reviewer can't audit eight disciplines.
Unit economics, market sizing, IP defensibility, regulatory exposure, founder background, platform risk — different skills, different sources, different signals. One person reading one deck cannot triangulate all of them.
An institutional desk's diligence, on every deck you read.
We do the forty hours in fifteen minutes by hiring eight specialists, not one generalist. Every output is sourced, sceptical, and structured for the Investment Committee.
Fifteen minutes, not forty hours.
The same forensic depth a senior partner applies, compressed into the time it takes to read the deck once. Re-analyze on a new term sheet without re-budgeting your week.
Eight specialists, one reconciled memo.
Each agent reads with a single mission and a single bias. The aggregator reconciles their disagreements explicitly — you see the dissent, not just the verdict.
Your private research library.
Saved decks and reports remain in your account-owned workspace. Unclaimed uploads expire after 24 hours.
Your uploads are not training data.
Inference only, no retention, on any model — ours or our providers'. We hold zero-retention DPAs with every model vendor we route through.
Check what the analysis starts from.
Your workspace includes extracted deck text, structured facts and available source quotes. Review missing information and ambiguities alongside the reports; slide-level citations are not guaranteed.
Built to be forwarded.
The dossier ships as a 12-section memo your IC already knows how to read. Verdict, risk score, kill flags, executive thesis. PDF, Notion, or board portal.
Eight specialists. One memo.
Every deck is read by a coordinator, four discipline agents, a short-seller researcher, and a synthesis aggregator. Their outputs are reconciled into a single Investment Committee dossier — disagreements surfaced, not flattened.
Illustrative workflow preview · your workspace shows actual checkpoints and results.
Financial forensics.
Reconstructs the numbers from first principles, tests them against industry cohorts, and shows you exactly where the founder claim and the math diverge.
Three lenses. One verdict.
Each lens is a discipline with its own benchmarks and its own bias. The synthesis agent reconciles them into a single dossier that reads like an IC memorandum, not an LLM summary.
Unit economics, stress-tested.
We reconstruct CAC, LTV, churn and burn from the deck. Founder claims are tested against industry benchmarks and internal consistency checks. If the numbers don't add up, you see exactly where.
ARR reconciliation
Contracted, invoiced, recognised — disambiguated. Variance vs founder claim quantified.
Cohort tests
CAC payback, LTV/CAC and churn benchmarked against three cohort sets per sector.
Burn forensics
Burn multiple computed from runway delta and net new ARR, not the founder's chart.
Bottom-up TAM, not the cover slide.
A second pass on the market thesis — addressable population, competitor pricing, replacement cycles, regulatory headwinds. The number on slide 12 is rarely the right number.
Addressable orgs
Bottom-up count of orgs that could plausibly buy, sized to ICP and willingness-to-pay.
Competitive map
Direct, adjacent, and replacement competitors with pricing, funding, and headcount.
Regulatory headwinds
Frameworks that change the market in the next 18 months, scored by exposure.
Deal-killers, surfaced first.
Regulatory exposure, platform dependency, IP gaps, founder background, and the structural risks the deck won't volunteer. Scored, ranked, and tagged so you read them first.
Kill-flag ranking
The three to five risks that would defeat the deal, ranked by severity × likelihood.
Founder background
Prior ventures, dissolved entities, regulatory filings, public statements cross-checked.
Platform & IP
Vendor lock-in, inference fallback, patent landscape, and trade-secret defensibility.
Dossiers your IC already knows how to read.
Twelve-section IC memorandum, structured the way institutional desks structure them. Every claim cites its source. Exports to PDF, Notion, and the major board portals.
IC memorandum
Verdict, risk score, kill flags, executive thesis, plus eight supporting sections.
Citation trail
Every figure links to its source — slide, table cell, line of founder copy, external URL.
Export & share
PDF, Notion sync, board-portal handoff. Watermarked, expiring share links per deal.
Per deck, or by subscription.
Same eight agents, same 12-section memo, same 240-check pipeline. Choose the engagement model that matches how your desk reads.
Pay as you read.
One Full Analysis. Purchased credits never expire.
- ✓ Complete report pack
- ✓ Private workspace and download history
- ✓ One credit per Full Analysis
- ✓ Start when you are ready
For desks at deal-flow velocity.
Five Full Analysis credits each month for your personal workspace.
- ✓ Five credits per billing month
- ✓ Unused monthly credits expire at renewal
- ✓ Private report history
- ✓ Cancel through your billing portal
Confidential, by default.
Founders trust you with the deck. You can trust us with it. Zero retention, zero training, and the controls a fund's compliance officer expects to see in writing.
Private account access
Your verified account owns your decks and downloads. Authorised Early Capital admins and managers can review analyses for support and operations.
A lasting research library
Saved decks and reports remain in your workspace. Unclaimed uploads expire after 24 hours.
Protected payment details
Stripe processes card details. Workspace access does not depend on knowing someone's email address.
Notes from the desk.
What we see across the inbox — reconciliations, kill-flag taxonomies, and the patterns founders share without meaning to. All research →
The TAM slide is almost always
Top-down market sizing is how decks justify ambition. Bottom-up is how investors check the math. The gap between the two is usually where the real conversation happens.
Three questions every angel should ask, but rarely does.
Most angel diligence calls run forty-five minutes and never get past traction. These three questions surface more than the other forty-five combined.
On platform dependency: when ‘we use OpenAI’ becomes a
Every AI startup runs on someone else's inference. The question isn't whether — it's how exposed you are when prices triple, capacity gets rationed, or the platform launches a competing feature.