Alt-X (Fall 2025) - Startups.RIP

Alt-X

Fall 2025Active

Private-market investing still runs on Excel. Every year, trillions of dollars in venture, real estate, and private-equity capital are underwritten through manual spreadsheet work — copying data from PDFs, CIMs, and data rooms into brittle models that haven’t fundamentally changed in decades. Alt-X is building the AI infrastructure layer inside Excel for alternative assets. We ingest unstructured deal materials and automatically turn them into clean, auditable Excel models. Analysts can go from raw documents to a working underwriting model in minutes instead of rebuilding spreadsheets cell by cell. Alt-X extracts and maps key KPIs like ARR, growth, NOI, IRR, leverage, and cap rate directly into Excel, then generates institutional-grade models, sensitivities, and IC-ready outputs that remain fully editable and transparent. Teams using Alt-X reduce deal evaluation timelines by up to 70%, save 30–50 analyst hours per deal, and screen 4× more opportunities with the same headcount. By automating extraction, modeling, and error detection inside Excel, Alt-X turns underwriting from a manual bottleneck into a scalable workflow. Our first wedge is real estate and private equity, where Excel underwriting is slowest and most painful. We’re already piloting with family offices and private funds managing over $200M in assets. Alt-X is priced as a SaaS product starting at $30/month, with higher tiers for teams and advanced workflows. The opportunity is massive: over $1.4T in private-market deals are underwritten globally each year, with $25–30B spent on diligence and analytics — nearly all of it manual and Excel-based. Alt-X’s mission is to become the operating system for private-market investing inside Excel — the Bloomberg Terminal of the AI era.

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