“AI told me not to invest in your deal.”

An investor, after pasting your documents into an AI chat

At Private Sleeve, we first unveil what's inside the AI black box by building your deal's model. Then we give you back control of the narrative by incorporating your deal context and color that no AI has access to.

See what a chatbot tells investors about your deal, and correct it before they act on it.
Save time by de-duplicating investor questions and answering them once.
Identify the gaps that make investors skip your deal, and provide the right context.

Set up your desk See how it works

Red Mesa Energy II is an illustrative oil fund. Point at a question to see how it gets answered on Private Sleeve.

What an investor sees in an AI chat

Red Mesa Energy II, PPM.pdf96 pages

What IRR should I expect, and what are the red flags?

My recommendation is to pass on this deal. I estimate an IRR of 5.8%, against 17.0% in the PPM. I would reconsider only if the sponsor answers these questions in writing.

Questions for the sponsor

Why does the LPA charge the fee on committed capital, when the webinar said it starts on invested capital?
Written answer
Will $40M of the $50M sit in cash while the fund raises?
Your context
How is the oil price hedged?
In the PPM

What every investor in the deal sees on Private Sleeve

Red Mesa Energy II, modelIllustrative

As offeredPPM p. 3117.0%

An AI chatRecommended passing5.8%

Private SleeveAfter your 20-minute call14.9%

Your written answer. The LPA charges 2% on committed capital. You explain the difference from the webinar in writing, and investors see it beside the clause. LPA p. 18
Your context. The PPM sets a 24-month deployment period, and you confirmed 11 wells in the pipeline on our call. PPM p. 14
Already in the PPM. The PPM hedges 50% of production for the first 24 months. PPM p. 58

Why 14.9%

We changed one driver. Wells 5 to 11 cost more to drill than the first 4 did, as in comparable deals, and that takes 2.1 points off the 17.0% in your PPM.

This week on Private SleeveIllustrative deals

In one investor's AI chat, the recommendation on Red Mesa Energy II was to pass. Every investor in the deal now sees the model and the sponsor's answers.
Dana Whitfield explained The Meridian's move to mid-market rents on a 20-minute call.
Four investors asked about rent per unit in four places, and Dana Whitfield sees one question.
Ana Reyes recorded a 0:40 answer on the preferred return from her phone.
Tom Okafor is recording the Q4 update for The Meridian against the figures investors track.
Every explanation, answer and update enters the deal's record, dated and signed.

In one investor's AI chat, the recommendation on Red Mesa Energy II was to pass. Every investor in the deal now sees the model and the sponsor's answers.
Dana Whitfield explained The Meridian's move to mid-market rents on a 20-minute call.
Four investors asked about rent per unit in four places, and Dana Whitfield sees one question.
Ana Reyes recorded a 0:40 answer on the preferred return from her phone.
Tom Okafor is recording the Q4 update for The Meridian against the figures investors track.
Every explanation, answer and update enters the deal's record, dated and signed.

§ 1The problem

Your investors check your deal with a chatbot.

An investor pastes your PPM or your quarterly letter into a general chatbot and asks what could go wrong. You never see the answer. When the investor asks again, the IRR changes, and none of those figures comes from your model.

One deal, one question, asked again

What IRR should I expect from Red Mesa Energy II?

Answer 15.8%
In this answer, $40M stays in cash for the life of the fund.
Answer 29.1%
In this answer, oil falls to $60.00 a barrel.
Answer 34.4%
In this answer, the fund drills no wells after the first 4.

3 answers, from 4.4% to 9.1%. None of them comes from your model.

Each investor gets a different IRR for the same deal, and none of them comes from your model.
The answers list red flags your documents already address, and the investor sends you every one of them.
Your quarterly letter leaves out the figures behind a change of plan, so the change reads as a failure.
An investor who cannot check your figures holds back, and the sponsor who markets hardest raises the money.

The sponsor whose figures an investor can check is the one the investor wires to again.

§ 2How it works

You upload your documents and explain your figures once, and every LP in the deal sees the result.

01Upload

We model the deal from a template for its asset type

You upload the PPM, the operating agreement and the deck. We read out every term, fee, loan detail and projected figure with the page it came from, and we build the model from our template for the deal's asset type. You see the deal page exactly as investors will, and investors see nothing until you approve it.

The Meridian, deal page before approval3 files

Private placement memorandum.pdf212 pages
Operating agreement.pdf64 pages
Investor deck.pdf24 pages

Projected IRR31.0%PPM p. 43

Preferred return10%PPM p. 12

Hold5 yearsPPM p. 9

Raise$40MPPM p. 3

Model

We built the model from our multifamily development template. Its projected IRR is 31.0%, the same figure as page 43 of your PPM.

Investors see the page once you approve it.

02Explain

You explain your figures on a 20-minute call

We show you the answer a general chatbot gives about your deal, point by point. On a 20-minute call with our analyst, you explain the mechanics behind each point. What you explain enters the model with your name and the date, beside the figure as offered.

The Meridian, after the Q3 letterCall with Dana Whitfield, 2 October 2026

21.8%Projected IRR on Private Sleeve after your call

Groundbreaking: September 2027
Rent per unit, a month: $2,600 at mid-market
Construction loan: SOFR + 240, reworked

Why 21.8%

The 23-month delay takes 7.6 points off the 31.0% in your PPM. Mid-market rents take 3.1 points, and the reworked loan adds 1.5 points back.

03Collect

Every question lands in one inbox, counted

Investors ask on the deal page or by email to your desk's address. Four people who ask the same thing in different words become one question, counted. Each question arrives with a draft answer from your documents and your calls, with the page it rests on, or with "the documents state nothing" when they do not.

Inbox, The MeridianDrafted from your documents and calls

What rent per unit are you underwriting now that groundbreaking moved?

4 investors

Draft

Dana Whitfield explained on the 2 October call that the plan now assumes $2,600 a month at mid-market, against $3,150 in the PPM. Your call

Will you replace the rate cap before it expires in month 24?

2 investors

Draft

The documents state nothing.

04Record

The person who knows records the answer, and you choose who sees it

You assign the question to the principal, the operating partner or the analyst. They press Record on a phone and speak the answer. We transcribe it and check every figure in it against the record. You choose who sees it, and nothing is released until a person approves it.

Harbor Lane Partners desk
Ana Reyes, 3 questions for you

Does the 10% preferred return accrue through the delay?

0:40

Yes. The preferred return accrues from the date of each capital contribution under section 5.2 of the operating agreement, and the delay does not change that. Through the 23 months the accrual on a $250,000 commitment is about $48,000, paid from distributable cash before any split.

Section 5.2 of the operating agreement matches the record.
About $48,000 on $250,000 over 23 months at 10% matches the record.

Who sees Ana's answer?

Visible to

Private The asker Investors Everyone

Nothing is released until you approve it.

05Report

Your quarterly update moves the model the day you approve it

When an update is due, we list the figures investors track, and you record the update against that list. The update you approve enters the deal's record the same day, with every figure beside what the offering documents projected and the IRR recalculated for every LP in the deal.

Q4 2026 update, The MeridianRecorded by Tom Okafor, 3:12

Figure investors track	Projected	In this update	Source
Groundbreaking	October 2025	September 2027	Stated by you
Rent per unit, a month	$3,150	$2,600	Explained on your call
First distribution	March 2028	June 2029	Stated by you
Projected IRR	31.0%	21.8%	Calculated from your figures

Every figure investors track has a line in this update.

§ 3Your LPs

You explain a change once, and every LP in the deal sees the same explanation.

The Meridian, an illustrative deal, has 33 LPs. Without the desk, Harbor Lane Partners explains the move to mid-market rents in 33 emails, on calls and in a webinar, and each LP hears a slightly different version. With the desk, Dana Whitfield explains it once, and each LP sees the same model, the same answer and the same update.

Dana Whitfield's call, 2 October 2026

Dana explained the move to mid-market rents and the reworked construction loan in 20 minutes.

The modelIRR 21.8%
The answer on the FAQ tab1:05 clip
The Q4 updateRecorded by Tom Okafor

33LPs in The Meridian see the same explanation

Investors in the deal33

Investors who pressed Interested8

An investor who presses Interested on your deal page signs in and sees the same model and every answer you released to everyone.

§ 4What investors see

Your investors see one deal page with your model and your answers, and nothing of the desk behind it.

A released answer shows the question, the count of investors who asked it, the clip, the transcript and the signature you chose. No investor sees another investor's name, who on your team answered, or how long it took.

On your desk

Question: Does the 10% preferred return accrue through the delay?
Asked by: r.alvarez@example, priya.n@example
Assigned to: Ana Reyes
Recording: 0:40 with its transcript
Approved by: Dana Whitfield, 3 October 2026
Time to answer: 2 days
Signature: Harbor Lane Partners

On the deal page

The MeridianAn illustrative deal

Projected IRR, explained by Harbor Lane Partners on 2 October 202621.8%

Does the 10% preferred return accrue through the delay?

Asked by 2 investorsAnswered by Harbor Lane Partners0:40

What rent per unit are you underwriting now that groundbreaking moved?

Asked by 4 investorsAnswered by Harbor Lane Partners1:05

In the app, each underlined figure opens the page it came from.

§ 5The rules

Five rules hold on every desk.

Nobody can pay us to change a figure. A figure from your documents changes only when you cite a document and page, and we store both values.
Every figure links to its page. We check a drafted answer and a recorded answer against the record, and we mark a figure that disagrees with the documents before you see it.
Your context is shown as yours. What you explain on a call or in writing changes the model's assumptions, with your name and the date beside the figure as offered.
Nothing is released by default. Every answer has a visibility, and a named person approves every answer an investor sees. We store the approval with the person and the time.
No answer states a return as a promise. We check released text for promissory wording, and we hold an answer that has it, with the phrase marked for you to edit.

§ 6Questions

Frequently asked questions

Why would I take a call that tests my IRR?

Your investors already test it with general chatbots, and you never see those answers. On the call, you see each point an investor would be shown, and you explain the ones your documents already answer. Every LP in the deal then sees your explanation beside the figure, with your name and the date.

What if your model shows a lower IRR than my PPM?

The deal page shows both figures side by side, with the reason for each difference. In the Red Mesa Energy II example, the 2.1 points come from one driver: wells 5 to 11 cost more to drill than the first 4 did, as in comparable deals. You can explain a driver on a call, and our analyst changes it when you show the basis, such as a signed drilling contract.

Can I use the desk for an offering under Rule 506(b)?

Yes. When a deal goes Active you say which exemption it relies on. A 506(c) deal gets a public link and appears under Active for every member. A 506(b) deal is shown only to investors you invite by email or who already hold one of your deals, and its link opens on a sign-in wall. Before the first deal goes Active we verify the sponsor once, against its Form D filings or on a call.

Who sees the names of the people who asked?

Your desk does. Each question keeps who asked it, how and when. Investors see only the count, and the person who asked sees "You asked this" on their own question. Names never appear on the FAQ or in another investor's view.

Do the answers have to be recorded?

No. A team member can record on a phone or on a laptop, or type the answer. Recording is faster for the person who knows: 40 seconds of speech replaces an afternoon of writing, and investors hear the answer in the principal's own voice.

What happens to my documents?

We read your offering documents to build the deal page and the model and to draft answers, and we hold them in confidence under a key for your desk. We do not train models on them. Members see the deal page you approved, your notes and explanations, and the answers and updates you released.

§ 7Start

Set up your desk with one deal and see what a chatbot tells your investors about it

Sign in with your work email, name the sponsor, and upload one deal's offering documents. We build the deal page, the model and the inbox, and we book your first 20-minute call.

Set up your desk

No password. We send a sign-in link to your email.