Executive Summary

Angel and micro‑fund managers with portfolios of 10+ deals routinely get misleading or non-convergent XIRR results from spreadsheet implementations when cashflows are irregular, include follow‑ons, write‑offs, or clustered exits; that problem is felt by syndicate leads, SPV managers, and 600,000 individual angels and micro‑fund operators who currently rely on fragile ad‑hoc math. Simple XIRR can produce multiple roots, sensitivity to cashflow ordering, and silent failures that create real reporting and LP‑confidence risks for small managers. You could build a lightweight, auditable IRR product that replaces brittle XIRR with robust cashflow math: a solver that uses bracketed root‑finding, fallback to MIRR/Modified Dietz and time‑weighted metrics, deterministic tolerance reporting, and historical scenario diagnostics, packaged with integrations to syndicate and cap‑table platforms. Priced around a $4,000 ACV for managers, the solution would automate reconciliation, produce explainable errors and audit logs, and include exportable documentation for LP/regulatory reporting. This is an attractive market now because more non‑traditional and retail investors are entering early‑stage deals, SPV and syndicate formation is rising, and reporting expectations are tightening — together supporting a $2.4B TAM and a high willingness to pay (market score 88/100, revenue potential 82/100). The idea’s strengths are a clear, narrowly defined pain point and defensible technical differentiation; the challenges are converting spreadsheet‑dependent users, building trusted auditability, and establishing integrations and distribution. With a focused MVP that proves numerical correctness and audit trails, the product can reasonably compete in a medium‑competition field and win through clarity, transparency, and ease of adoption.

Market Opportunity

Fix broken XIRR for angel portfolios with 10+ deals using robust cashflow math targets a $2.4B = 600,000 angel investors & micro-fund managers × $4,000 ACV total addressable market with medium saturation and a year-over-year growth rate of 12% YoY growth (market for alternative-asset investor tools and LP reporting; source: AngelList/PitchBook trend aggregation 2022-2024).

Key trends driving demand: More non-traditional and retail investors are participating in early-stage deals, creating demand for portfolio tooling — this expands the buyer base for a lightweight IRR product.; SPV and syndicate formation is rising, which increases the volume of irregular cashflows that break simple XIRR implementations — creating a clear need for robust solvers.; Regulatory and LP reporting expectations are increasing, which pushes managers to use auditable calculations rather than ad-hoc spreadsheets and increases willingness to pay.; API-first cap table and custody providers are making data ingestion easier, lowering integration costs for a new analytics product..

Key competitors include Carta, AngelList / Carta Investor Tools, Burgiss / eFront (enterprise performance analytics).

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Fix broken XIRR for angel portfolios with 10+ deals using robust cashflow math

Executive Summary

Market Validation

Market Opportunity

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