THE PRODUCT

An analysis engine, on an operating spine.

Most tools give you an answer. AKAXA gives you an answer you can trace, approve, send, and still be holding two years later when the LP asks how you underwrote it.

Request access Jump to the artifacts ↓

Data room to IC memo, with material claims tied back to their source.

THREE FILES, ONE EVIDENCE LAYER

One run. Three files you can actually open.

Drop the data room once. What comes back is a diligence scan you can read, an editable version you can mark up, and a model you can flex — all built from the same evidence layer, so they cannot contradict each other.

Pre-IC diligence scan

EXPORT_READY

PDF · EXAMPLE OUTPUT · 96 PAGES · 29 SECTIONS

Executive summary, deal score, ten due-diligence workstreams, red flags, valuation, risk & SPA, 100-day plan, and the IC memo itself — designed to keep source references, evidence gaps, and verification status visible for human review.

Pre-IC scan

EXPORT_READY

DOCX · EDITABLE

The same scan, editable. Mark it up, cut it, take it into the room. The sources travel with it.

LBO Pack

EXPORT_READY

XLSX · EXAMPLE OUTPUT · 13 SHEETS · LIVE FORMULAS

Sources & Uses, axis scores, sensitivity, linked scenarios, precedents, closing conditions. Change an assumption and the model moves — it is a working file, not a picture of one.

THE MOAT, MADE VISIBLE

Sourced numbers carry their paperwork.

A demonstration table in the AKAXA scan format, built on a synthetic company. Look at the last two columns.

                  MERIDIAN SOFTWARE GROUP — PRE-IC DILIGENCE SCAN
                  p. 14 / 96
                
OPERATING METRICS

                  DESCRIPTIONVALUEAS-OFSOURCE
                
                  Revenue YoY growth62.0%FY2025SEC XBRL
                
                  Revenue growth (organic)22.0%FY2025SEC XBRL
                
                  Revenue growth (M&A contribution)40.0%FY2025SEC XBRL
                
                  Gross margin67.3%2025-12-31SEC XBRL
                
                  EBITDA (GAAP)$78M2026-02-18SEC XBRL
                
                  Adjusted EBITDA$248M2026-02-18SEC XBRL · Unverifiable: non-GAAP
                
                  EBITDA margin (GAAP)10.7%2026-02-18SEC XBRL
                
                  ⚠ Source gap: 10 unsourced line items held for review —
  Enterprise value (deal); Entry multiple; Exit multiple; IRR (base); MOIC (base)…

AS-OF

Not “as of today”. As of the filing the number actually came from.

SOURCE

The document, not a vibe. “Unverifiable: non-GAAP” is a source status too.

SOURCE GAP

What we could not verify, listed by name. A general assistant would have filled these in.

A quote that does not tie back to the source text as a substring is dropped — not softened, not paraphrased. Dropped.

A tool that never says “I don’t know” is a tool you cannot take to IC.

A ten-workstream diligence framework. Each run covers what the material supports, and names the rest.

A general assistant gives you a summary. AKAXA runs the diligence a deal pod would actually run.

FDDFinancial

CDDCommercial

ODDOperational

LDDLegal

IPDDIntellectual Property

TDDTax

IDDInsurance

HRDDHuman Capital

ESGDDESG

VCPValue Creation Plan

Plus: Cross-Axis Synthesis · Red Flags Summary · Sector Benchmark · Diligence Gaps · Multiple Compression Risk · 100-Day Plan · Full Anchor Catalog

29sections

96pages

onerun

BEFORE IC DOES IT TO YOU

The strongest case against your own deal.

Same evidence, skeptical priors. AKAXA argues the other side before the room does.

DEVIL’S ADVOCATE — MERIDIAN SOFTWARE GROUP 0 critical · 8 high · 24 open questions

HIGH

Integration pace: two platform acquisitions absorbed in a single fiscal year; duplicative roles not yet quantified.

HIGH

Vendor concentration: core infrastructure providers are not disclosed across public sources.

+ 6 more high findings · 24 open questions, each named in the scan

NOTHING LEAVES BROKEN

Four states. What can be sent depends on which one you are in.

Incomplete work cannot masquerade as final. The gate is in the system, not in someone’s memory — and where a gap is only disclosed rather than disqualifying, the work still delivers, carrying the gap with it.

EXPORT_READY

Sourced, no missing critical field, no blocking fault. Full export.

VALIDATING

Coverage is thin or the mode caps it. Exports, with source-gap footnotes.

DEGRADED

Screening brief only. The IC memo is held back and partner export waits.

BLOCKED

A critical validation has failed. The export does not render — not a warning banner you can scroll past; the file is not produced. A gap that is merely disclosed does not block: it is labelled and the work still delivers.

AKAXA REVIEW COPY · VERIFY BEFORE RELIANCE

Exports carry their own classification. Even the good ones.

One evidence layer. Six seats around it.

Associate

Turns the raw data room into first-pass evidence — in one run.

Pressure-tests the assumptions and organizes the workstreams.

Principal

Sharpens the thesis, the risks, and the open questions.

Partner

Reads one coherent memo and decides where to push.

Operating partner

Carries the underwriting thesis into value creation.

IR / LP reporting

Receives an output that carries the sources behind its sourced claims — and cannot be sent if they’re missing.

Fast is table stakes. Controlled is the moat.

What it gives youWhat it can’t do

Generic AI chat Fast answers Cannot show where the number came from

Document search Good retrieval No accountability for the artifact it produces

Research agent Useful synthesis Shallow on deal-specific governance

Data-room / lifecycle tool Strong process Not IC-grade analysis

AKAXA Evidence, analysis, memo, and a gate that holds back what it cannot stand behind

Bring more certainty to the work that reaches IC.

Request access

THE REAL COST OF A FRAGMENTED STACK

Your firm runs sixteen systems that don’t agree with each other.

The CRM says one revenue number. The model says another. The LP letter says a third. Each tool has its own permission filter, its own audit log, its own idea of where a fact came from — and none of them talk. The work between them is done by an associate, by hand, at midnight.

AKAXA runs one.

One evidence layer, carried across the deal.

The same spine that sources a deal is the spine that monitors it three years later.

SOURCE→

Every live deal on one board, with its score and its decision state.

C12

SCREEN→

First-pass scoring on evidence, not on a deck’s own claims.

C02C09

DILIGENCE→

Ten workstreams on one evidence layer. Wall-crossing is a request and an approval — with a record.

C01C02C05

IC→

One memo. Sourced claims tied out, the rest flagged. Work that fails the gates is blocked from export.

C05C06C08

SIGN→

The 100-day plan the scan produced becomes the plan you actually run.

C11

MONITOR→

Every portfolio company: tearsheet, monthly financials, covenants, value-creation plan.

C11C13

REPORT→

Quarterly LP letters, from the same record the deal was underwritten on.

C07C10

EXIT↓

The deal closes. Its record doesn’t.

FEEDS FIRM MEMORY

← FIRM MEMORY

Knowledge base and custom agents — the way your firm screens becomes something the firm owns, not something a person remembers.

C03C04

Thirteen contracts, imported once — not thirteen features, rebuilt per screen.

What a spine actually buys you.

You find out what’s missing before the partner does.

TODAY

The gap surfaces in the room. Someone asks for the customer schedule, nobody has it, and the deal picks up a smell it didn’t earn.

ON AKAXA

The scan names what it could not verify — before you present. A dedicated “Diligence Gaps: Source Documents Required” section carries them.

Incomplete work is designed not to leave the room looking finished.

TODAY

A half-sourced deck gets emailed at 11pm because it looked done. You find out it wasn’t when someone else does.

ON AKAXA

If the evidence isn’t there, the export doesn’t render. The file is not produced — there is no banner to scroll past.

Sourced numbers survive “where did this come from?”

TODAY

You believe the number. You just can’t prove it in the room, and you’re not reopening the 10-K at 4pm on a Thursday.

ON AKAXA

Material claims are designed to retain supporting source references where available, while unsupported items are identified for further verification.

The value creation plan doesn’t die at signing.

TODAY

The 100-day plan is in the IC deck. The IC deck is in a folder. The folder is not the operating partner’s problem.

ON AKAXA

Every portfolio company has a tearsheet, its monthly financials, its covenants, and its VCP — the same 100-day plan the scan produced, now the thing you run.

The partner sees the firm, not twelve tabs.

TODAY

“How many deals are live? What’s our worst covenant? What’s flagged?” — three tools, three answers, one of them stale.

ON AKAXA

Firm-wide roll-ups: every live deal and its decision state, every covenant worst-first, every alert in one inbox.

Tuesday, before and after.

Without a spineOn the AKAXA spine

09:00 Analyst starts rebuilding the CIM into something a partner will read. The scan came back overnight. She starts from a draft, not a blank page.

11:00 VP finds three EBITDA numbers in three files and picks one. Sourced figures show the filing and the page they came from. The argument is about the deal, not the number.

14:00 Analyst rebuilds the comp set because nobody knows where the last one came from. Sourced multiples carry their source. The set is reused, not rebuilt.

16:00 Someone asks whether the EBITDA in the memo matches the model. They match. They were built from the same evidence layer.

18:00 Partner asks “is this number sourced?” Nobody is certain. The gate already refused to export the two that weren’t.

+2 years LP asks how it was underwritten. The reconstruction takes a week. The scan, its sources, and its gaps are still on the record — exactly as they were filed.

The analysis engine is one bone in a larger spine.

Everything below imports the same thirteen contracts — which is why they cannot contradict each other.

Deal pipelineLIVE

Relationship CRMFLAG-DARK

Diligence & VDRIN BUILD

LBO modelingLIVE

ThesisIN BUILD

IC decision roomLIVE

Debt financingIN BUILD

Portfolio monitoringLIVE

Value creationLIVE

LP reportingBUILT · IN SHADOW

Board & valuationIN BUILD

MNPI complianceBUILT · IN SHADOW

Firm memoryLIVE

Morning briefingIN BUILD

LIVE — built and running in the product today, with no customer in production · IN BUILD — not yet shipped · FLAG-DARK — the contract runs under the spine, switched off by default until a firm turns it on

THE THIRTEEN CONTRACTS — HONEST STATUS

C04 Chained audit log LIVE

C08 Honest-gap disclosure LIVE

C01 Permission scope enforcement BUILT · IN SHADOW

C05 Prose tie-out validator BUILT · IN SHADOW

C09 Source-tier conflict engine BUILT · IN SHADOW

C07 C10 License & redaction export gates BUILT · IN SHADOW

C03 Bitemporal history BUILT · NOT YET ON DEALS

C11 C12 C13 KPI binding · capture · detectors BUILT · BEHIND A FLAG

We’d rather show you the flag than tell you it’s on.

See the spine under your own deal.

We’ll run one of your past deals through it — and show you exactly what it could not verify.

Request access

One evidence layer. Six seats around it.

Associate

Turns the raw data room into first-pass evidence — in one run.

Pressure-tests the assumptions and organizes the workstreams.

Principal

Sharpens the thesis, the risks, and the open questions.

Partner

Reads one coherent memo and decides where to push.

Operating partner

Carries the underwriting thesis into value creation.

IR / LP reporting

Receives an output that carries the sources behind its sourced claims — and cannot be sent if they’re missing.

Fast is table stakes. Controlled is the moat.

What it gives youWhat it can’t do

Generic AI chat Fast answers Cannot show where the number came from

Document search Good retrieval No accountability for the artifact it produces

Research agent Useful synthesis Shallow on deal-specific governance

Data-room / lifecycle tool Strong process Not IC-grade analysis

AKAXA Evidence, analysis, memo, and a gate that holds back what it cannot stand behind

What a spine actually buys you.

You find out what’s missing before the partner does.

TODAY

The gap surfaces in the room. Someone asks for the customer schedule, nobody has it, and the deal picks up a smell it didn’t earn.

ON AKAXA

The scan names what it could not verify — before you present. A dedicated “Diligence Gaps: Source Documents Required” section carries them.

Incomplete work is designed not to leave the room looking finished.

TODAY

A half-sourced deck gets emailed at 11pm because it looked done. You find out it wasn’t when someone else does.

ON AKAXA

If the evidence isn’t there, the export doesn’t render. The file is not produced — there is no banner to scroll past.

Sourced numbers survive “where did this come from?”

TODAY

You believe the number. You just can’t prove it in the room, and you’re not reopening the 10-K at 4pm on a Thursday.

ON AKAXA

Material claims are designed to retain supporting source references where available, while unsupported items are identified for further verification.

The value creation plan doesn’t die at signing.

TODAY

The 100-day plan is in the IC deck. The IC deck is in a folder. The folder is not the operating partner’s problem.

ON AKAXA

Every portfolio company has a tearsheet, its monthly financials, its covenants, and its VCP — the same 100-day plan the scan produced, now the thing you run.

The partner sees the firm, not twelve tabs.

TODAY

“How many deals are live? What’s our worst covenant? What’s flagged?” — three tools, three answers, one of them stale.

ON AKAXA

Firm-wide roll-ups: every live deal and its decision state, every covenant worst-first, every alert in one inbox.

Tuesday, before and after.

Without a spineOn the AKAXA spine

09:00 Analyst starts rebuilding the CIM into something a partner will read. The scan came back overnight. She starts from a draft, not a blank page.

11:00 VP finds three EBITDA numbers in three files and picks one. Sourced figures show the filing and the page they came from. The argument is about the deal, not the number.

14:00 Analyst rebuilds the comp set because nobody knows where the last one came from. Sourced multiples carry their source. The set is reused, not rebuilt.

16:00 Someone asks whether the EBITDA in the memo matches the model. They match. They were built from the same evidence layer.

18:00 Partner asks “is this number sourced?” Nobody is certain. The gate already refused to export the two that weren’t.

+2 years LP asks how it was underwritten. The reconstruction takes a week. The scan, its sources, and its gaps are still on the record — exactly as they were filed.