Axiarete for private equity

Every deal is a technology deal now.

Axiarete is the agentic AI platform that underwrites a target’s technology before you sign — then turns that diligence into a live value-creation and risk program the day you close. One record, from first look to exit.

Built by operators who have run technology diligence for Fortune-scale acquirers — and rebuilt it for the pace of a live process.

The moment

The return model inverted. The diligence model didn’t.

For two decades, leverage and multiple expansion did quiet work in every deal model. That era is over. Exits are slower, holds are longer, and LPs are asking about DPI before they ask about anything else. The multiple you exit at will be the multiple you build — operationally, inside the company, over the hold. And in company after company, the place where value hides and risk compounds is the same: the technology estate.

  1. Technology sets the ceiling on the equity case.

    The growth plan assumes the platform scales. The margin plan assumes the systems consolidate. The exit plan assumes a buyer likes what their engineers find. Every one of those assumptions is a technology assumption — and most were never tested at entry.

  2. AI cuts both ways, and the IC knows it.

    Every committee now asks two questions of every target: what can AI do for this business, and what can AI do to it. A services firm that looks cheap may be cheap because its work is about to be automated by someone else. The AI question is no longer a slide in the appendix. It is the thesis, or the anti-thesis.

  3. Buyers went code-deep. Your exit will be diligenced harder than your entry was.

    Acquirers now scan repositories, audit open-source licenses, and price technical debt in the purchase agreement. What your entry diligence sampled, their exit diligence will read in full. The discount gets decided in hours; the fix would have taken a quarter — three years earlier.

  4. Technology risk became fund-level risk.

    Ransomware at one portfolio company is now a conversation with every LP. Cyber insurance reprices annually. Disclosure regimes — SEC cyber rules, DORA, NIS2 — reach into portfolios whether the fund is ready or not. A GP without a portfolio-wide technology picture is carrying an exposure it cannot size.

  5. The operating bench doesn’t scale by hiring.

    One operating partner covers ten, fifteen, twenty companies. Management updates arrive in fifteen formats. The value-creation plan lives in a spreadsheet that was accurate in month two. The industry is running a 2026 mandate on 2006 instruments.

The stakes changed. The tools didn’t. That gap is where returns are leaking — and where Axiarete works.

The status quo

Four ways technology value dies between diligence and exit.

01

The three-week snapshot.

Tech diligence gets whatever the exclusivity window allows. Advisors sample what there was time to sample, interview who was made available, and caveat the rest. The IC gets a point-in-time opinion on the single largest operational unknown in the deal — and the questions that never got asked stay unasked for the whole hold.

02

The PDF that dies at close.

The diligence report is the most expensive document in the deal, and it is opened twice: once before the vote, and once never. Its findings have no owners, no dollars, no dates. By day 100 the value-creation plan has been rebuilt from scratch — by people who didn’t read it.

03

Value creation by anecdote.

Management updates arrive as whatever management prefers to send. They are assessed against memory, not against the plan that was underwritten. Slippage isn’t detected; it’s confessed — at a board meeting, quarters after it began compounding.

04

Risk discovered at exit.

The buyer’s diligence finds what yours stopped tracking: the unresolved copyleft exposure, the SOC 2 that never reached Type II, the monolith that caps the growth story. Each becomes a price adjustment, an indemnity, or a broken process — priced against you, at the exact moment you have the least leverage.

None of these are people problems. Your deal teams, advisors, and operating partners are excellent. These are instrument problems — and instruments can be replaced.

The Axiarete thesis

Diligence shouldn’t end at close. On Axiarete, it goes to work.

Pre-deal
IT due diligence
  • Research
  • Scope
  • Data request
  • Findings
  • IC memo
Post-close
Value capture & risk management
  • Initiatives
  • Roadmap
  • Management updates
  • Alerts
  • Exit story
The record
  1. First look
  2. LOI
  3. IC
  4. Signing
  5. Close
  6. Month 4
  7. Exit

Axiarete is one platform with two halves that share a spine. Before the deal, it runs technology due diligence — agentic research, thesis-driven scoping, automated analysis across the target’s entire estate, and an Investment Committee report generated from the evidence. After the deal, it runs the hold — a value and risk command center, a living initiative roadmap, and management updates reconciled against the plan you actually underwrote.

The spine is the record. Every scope decision, every artifact, every working session, every finding, and every rating persists. Findings become initiatives with owners, dollars, and dates. Management’s monthly submission is checked against those initiatives — automatically. And at exit, the story of what was found, what was fixed, and what was built is already written, with the evidence attached.

The deal team holds one record of what was reviewed, what was concluded, and what has since been delivered.

Pre-deal · IT due diligence

Build conviction before you sign. Agentic research, configurable diligence paths, automated data requests, five analysis modules, and an IC-ready report — at the speed of a live process.

The pre-deal workflow →
Post-close · Value capture & risk management

Deliver the value you underwrote. One scorecard for the hold, a living roadmap, high-severity risks pulled into the light, every management update graded against the plan.

The post-close capabilities →
01 · Pre-deal

Build conviction before you sign — at the depth the check deserves, at the pace the process demands.

A live process gives you weeks, not months. Axiarete reads everything the target provides — every document, every repository you’re granted, every management session — and turns it into rated findings with the evidence attached. Not a sample. Not a summary of a summary. Coverage.

  1. 1

    Target Company Research

    Context before the first data request. Agentic research on the company and its industry means you arrive at the first management session already fluent — and every later finding is judged against the right market dynamics, not a generic benchmark.

  2. 2

    Diligence Paths & Dimensions

    Scope from the thesis, not from a template. Choose the path the deal demands — Technology Risk to protect the thesis, Value Creation to size the levers that fund the returns, Deal Execution for Day-1 readiness, separation, and synergy — then tune the dimensions within it. The scope you set drives everything downstream.

  3. 3

    Automated Data Request

    Generated from your scope, not recycled from the last deal’s checklist. Every item carries its criticality and its typical source, so management knows exactly who owes what. Responses arrive through a dedicated portal or directly from the deal’s data room — and every artifact is indexed and attributable the moment it lands.

  4. 4

    Automated Diligence

    Five analysis modules run across the collected estate (detailed below). Findings are rated, evidenced, and tied to the dimension they answer.

  5. 5

    Investment Committee Report

    Findings become the memo. Configurable templates generate the IC report in the structure your committee expects — deal scorecard, thesis tested against evidence, conditions and levers quantified — with every claim traceable back to the artifact that supports it.

Five modules. The whole technology estate. Every question the IC will ask.

Module 1

Cyber Security Posture

One consolidated view of security risk — surfaced before it prices the deal.

Code, software supply chain, runtime, and infrastructure, assessed as one exposure picture rather than four isolated scans. Because the finding that matters is rarely a CVE count — it’s the unclosed identity gap on remote access, the SOC 2 stuck at Type I blocking enterprise renewals, the dependency debt concentrated exactly where the stack meets the outside world.

  • Security risks identified in the target’s own code base, not inferred from questionnaires.
  • Third-party components and dependencies mapped, with end-of-life and patch posture.
  • Runtime and infrastructure configuration assessed against how the software actually operates.
Module 2

Technical Debt

The invisible ceiling on the growth case — quantified.

Technical debt is not an engineering complaint; it is a valuation input. Axiarete scores it by what it costs: the velocity drag on the roadmap the model assumes, the resilience gaps behind the uptime the customers assume, the maintenance burden compounding inside opex.

  • Performance and resilience: what will degrade, and how badly it withstands failure.
  • Speed to market: the debt that slows every feature the growth plan depends on.
  • Maintenance cost: the code-quality issues quietly inflating the run-rate.
Module 3

Software Licensing & IP

Know what you’re actually buying — and what you’re allowed to do with it.

The exposures that surface as purchase-price adjustments live here: copyleft linkage in distributed code, vendor audit true-ups waiting for a change of control, contracts that need consent to assign. Axiarete inventories all of it before the SPA is drafted, not after.

  • Full open-source inventory with license classification across the estate.
  • Restrictions that constrain how the software can be used, distributed, or commercialized.
  • IP robustness: how defensible the thing you’re paying the multiple for actually is.
Module 4

IT Savings Potential

EBITDA, located before the 100-day plan exists.

A high-level read of the application and vendor portfolio that finds the money early: redundant tooling across towers, overlapping vendors inherited through acquisitions, contracts whose terms — and whose cliffs — nobody has mapped to renewal dates. Walk into the first board meeting with the savings already found and sized.

  • Portfolio analysis that locates where the savings actually sit.
  • Redundancy elimination and vendor consolidation, quantified per opportunity.
  • Contract renegotiation targets with the run-rate impact of each.
Module 5

AI Readiness

The question every IC now asks — answered with evidence, in both directions.

How ready is this business to be transformed by AI: is the data accessible, are the processes digitized, is there leverage already paid for and unused in the estate? And the harder question underneath: how exposed is it to being transformed by someone else’s AI? One module, both sides of the thesis.

  • Data accessibility: whether the data AI use cases depend on is usable, or trapped.
  • Process digitization: the share of core operations AI can actually reach.
  • Embedded leverage: capability already licensed and idle — often the cheapest value in the deal.

Five modules, one evidence base, and an IC memo you can defend line by line. Read the technology due diligence guide →

02 · Post-close

Close day is when most diligence dies. On Axiarete, it’s when it goes to work.

Everything the deal team learned becomes the operating team’s starting position. Findings convert to initiatives with owners, timelines, and value at stake. The roadmap becomes the reference every management update is measured against. And the AI keeps working — watching for slippage, surfacing new levers, and preparing the questions for your next management call.

Value & Risk Command Center

One view of where value creation stands.

Identified EBITDA at the top; beneath it, every initiative classified as secured, in execution, or at risk — with confidence levels the team actually maintains. When an LP, a board, or the IC asks where the plan stands, the answer is one screen, not one week of assembly.

Initiative Roadmap

A living plan for value and risk, on one timeline.

Cost, growth, AI, and risk initiatives sequenced across the hold — and open, permanently: new initiatives join the plan whenever the situation produces them, not only at the start. This roadmap is the contract the rest of the hold is managed against.

High-Risk Management

Critical risks, explicitly pulled out.

The highest-severity items — the unclosed MFA gap, the Type II that gates enterprise renewals, the end-of-life runtime — get their own view, their own owners, and heightened attention until closed. Every open item is unpriced value leakage; Axiarete refuses to let it hide inside a status report.

Management Update Assessment

Every update, graded against the plan.

Management submits through the portal; Axiarete reconciles the submission against the roadmap — on track, at risk, watch — flags what wasn’t addressed at all, and returns the questions to raise before the call, each with why it matters attached. Your team walks into every management conversation sharper than the update that preceded it.

Value & Risk Ideas

New levers, continuously researched.

The AI keeps studying the company, its peers, and its market — and surfaces new value and risk ideas, sized by impact, effort, and confidence. The operating team curates; nothing reaches management without your judgment. Think of it as a tireless associate whose only job is finding the next initiative.

Alerts & Notifications

Know when it changes, not at the next QBR.

Pre-configured alerts across value and risk mean slippage is a notification, not a quarterly surprise. The gap between something changing and someone acting shrinks from months to days.

This is what it looks like when the value-creation plan is an operating system, not a document.

Under the hood

Agentic AI is easy to claim. Here is exactly what ours does.

The Enterprise Graph

Axiarete ingests the raw exhaust of a technology organization — code repositories, documentation, logs, configuration, tickets, financials — and builds a living graph that connects applications, infrastructure, and AI agents to the business processes and capabilities they serve. From that graph comes unified intelligence: features, architecture, technical health, performance, risks, optimizations, and total cost of ownership — each answer connected to every other, the way the estate actually is. A partial data set still yields a robust initial graph; every additional artifact sharpens it.

Raw exhaust

  • Code repositories
  • Documentation
  • Logs
  • Configuration
  • Tickets
  • Financials
The Enterprise Graph
Applications · infrastructure · agents · processes
Connected to the business capabilities they serve

Unified intelligence

  • Features
  • Architecture
  • Technical health
  • Performance
  • Risks
  • Optimizations
  • Total cost of ownership
The evidence discipline

In diligence, a confident wrong answer is worse than no answer. So Axiarete holds itself to a standard most AI products won’t: if a finding cannot be traced to its source, it does not ship. Every conclusion links to the artifact, the working session, or the line of code behind it. Every assessment carries a confidence level. Human checkpoints sit at every judgment that matters. When your IC asks “how do we know this,” the answer is a click, not a shrug.

  • Every finding attributable — artifact, session, or line.
  • Confidence scored, not implied.
  • Reviewed by people who have run technology diligence at Fortune scale.
Platform plus forward-deployed experts

Software does the coverage; judgment stays human. Axiarete engagements pair the platform with forward-deployed engineers and operators who have lived inside enterprise technology estates — running the working sessions, pressure-testing the findings, and tuning the diligence to the thesis. Run Axiarete alongside your existing advisors to make them faster and deeper, or run it directly on deals that never justified a six-figure diligence sprint. Either way, the record is yours.

Sri Rajan
Sri RajanStrategic AdvisorAdvisory Partner, Bain & Company.
PV Boccasam
PV BoccasamStrategic AdvisorSerial entrepreneur; Partner, Cota Capital.
Gurmeet Singh
Gurmeet SinghStrategic PartnerFormer CIO, Gap, 7-Eleven, Big Lots, Capital One, FedEx.
Paul Dottle
Paul DottleStrategic PartnerFormer EVP, CIO and CTO, American Express; Global VP, General Mills.
Ashutosh (Maddy) Madeshiya
Ashutosh (Maddy) MadeshiyaCo-founderFormer Eightfold AI, LinkedIn, Bain & Company, HP.

Reads everything you’re given. Shows its work on everything it concludes.

In practice

Every deal type. Every seat at the table. The whole hold.

Platform buyout

The full five-module baseline on the asset you’ll build around. The technology risk index goes into the model; the savings and AI levers go into the value-creation plan — before close, not after.

Carve-out

Separation is where technology assumptions go to die. Axiarete maps entanglement, sizes TSA exposure, and pressure-tests Day-1 readiness — so the perimeter you’re buying is the perimeter you priced.

Buy-and-build

Roll-ups win or lose on integration, and integration debt compounds silently across add-ons. Run repeatable add-on diligence at add-on economics, and track integration health across the whole platform from one place.

Growth equity

Competitive processes don’t wait for a six-week workstream. Get a thesis-grade technology read at the speed of the round — deep enough to matter, fast enough to stay in the process.

Exit readiness

Your buyer will run code-deep diligence on you. Run it on yourself first — twelve to eighteen months out — and turn every would-be discount into a fixed item with a paper trail. The record of remediation becomes exit-narrative material: not “trust us,” but “watch it get done.”

Portfolio-wide baseline

One consistent technology and cyber picture across every portfolio company — for the annual review, the insurance renewal, the LP questionnaire, and the fund-level risk conversation the GP has never been able to have with data.

Deal partnerConviction earlier, defensible at IC, and no unknown-unknowns walking into signing.
Operating partnerThe leverage of an operating team, applied across fifteen companies at once.
Portfolio-company CEO & CTOA plan with owners and dollars instead of a 200-page report; questions from the sponsor that make the business sharper, not slower.
Investment CommitteeMemos in a consistent structure, deal after deal, with every claim one click from its evidence.

Point solutions cover a moment of the deal. Axiarete covers the deal.

One deal, end to end Illustrative · drawn from a platform demonstration

From first look to a working value plan. Here’s the shape of it.

A mid-market vertical-software target. Diligence scoped to the thesis in a working session, the data request generated the same day. Over the process, the platform reads 126 artifacts across 47 systems and 14 management sessions — every finding attributable. The IC memo lands with a technology risk index of 58/100, four pre-close conditions that retire roughly $21M of unmitigated equity-value risk, and $6.8M of identified run-rate improvement across the hold. At close, the findings convert into a roadmap of owned initiatives. By month four: $9.3M of EBITDA identified, 22% already secured, one dependency chain flagged to watch — and the monthly management update graded against the plan in minutes, with the four questions that matter prepared before the call.

Days, not weeksFrom scope to IC-ready findings
126 · 47 · 14Artifacts read · systems assessed · sessions indexed — every finding attributable
$9.3MEBITDA identified on one mid-market deal
22%Secured by month four of the hold
100%Of management updates reconciled against the underwritten plan

Figures are illustrative, drawn from a platform demonstration on a representative mid-market deal.

The most valuable output isn’t any single number. It’s that every number has a source, an owner, and a date.

Deal-grade confidentiality

Built for the most confidentiality-sensitive workflow in business.

You are trusting us with live deal information. We treat that as the product requirement it is.

  • Segregated by client.Each client operates in its own dedicated, isolated environment, with AES-256 encryption, customer-managed keys and zero-trust access.
  • Your data trains nothing.Client and target data is never used to train models. The intelligence improves through our methods, not through your deals.
  • Read-only by design.Repository and system access follows least-privilege, read-only patterns. We analyze; we never touch.
  • Walk away, and it’s gone.Data is securely deleted within 90 days of termination, backups included, with a certificate of deletion on request.
  • Independently attested.SOC 2 Type II · ISO/IEC 27001:2022 · ISO/IEC 42001:2023 (AI management systems) · supports HIPAA compliance.
Read how Axiarete governs AI and data →
FAQ

The five objections every partner meeting raises

Does Axiarete replace our diligence advisors?

Only if you want it to. Axiarete is built to run alongside your advisors — the platform delivers coverage and evidence, they go deeper faster, and the findings survive close instead of dying in a PDF. On deals that never justified a six-figure diligence sprint, run Axiarete directly.

How do you get the data — targets don’t hand over their crown jewels.

Through the channels deals already use: a dedicated upload portal, direct data-room integration, structured management sessions, and read-only repository access where granted. Axiarete extracts more from whatever access you win — a limited data set still yields a rated, evidenced baseline, clearly marked for coverage and confidence.

How do we know the AI is right?

You don’t take our word for it — that’s the point. Every finding traces to its source artifact, session, or line of code; every assessment carries a confidence level; forward-deployed experts review the judgments that matter. A finding without evidence doesn’t ship.

We’re not a software fund. Is this for us?

Yes. Every company you own runs on a technology estate — ERP, data, security, vendors, and now AI. The savings, cyber, and AI-readiness modules routinely matter most on the deals nobody calls “tech deals.”

What does an engagement look like?

Per-deal diligence during the process; a hold-period subscription after close; forward-deployed support scaled to the situation. Live on your process in days — the platform was designed for exclusivity windows, not implementation calendars.

When should we start?

Before the next process opens. The first deal on Axiarete becomes the template for every deal after it — and the record starts compounding from day one.

The next process won’t wait for a six-week workstream.

Somewhere in your pipeline right now is a deal whose technology story will decide its multiple — at entry, through the hold, and at exit. Underwrite it with coverage instead of samples. Manage it with a plan instead of a PDF. Exit it with a record instead of a story. That is the whole product: one record, from first look to exit.

A working session with your deal team — live on your process in days.