Observed arrival · 2026-09-22
Equilibria’s Exit Waterfall
A private-beta tool that turns venture term sheets into interactive liquidation-preference and cap-table models.
○Open
⊠Login
$Paid
†Ads
✦Pretty
●Pro
◎Niche
◉Human
⚑Risk
ƒJS
- For
- Venture funds, founders, and growth-company deal teams
- Worth noticing
- The example model marks conversion breakpoints at $50.5M and $148.5M exits.
Field notes
The public demonstration separates term-sheet auditing from continuous exit-value simulation and negotiation output. Its examples expose concrete mechanics rather than only promising clarity: a sample audit identifies a 2.0x liquidation preference, uncapped participation, full-ratchet anti-dilution, and a 15% pre-money option pool. The page presents these as illustrative outputs; actual upload access is restricted to selected invitees.
Observed signals
Read the marks
Editorial observations of this landing page, not a rating.
○OpenPublic substance visible
⊠LoginAccess appeared gated
✦PrettyNotable craft visible
●ProPolished or operationally mature
◎NicheUnusually specific use
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