LiquidRound

AI ECM Agent Squad for M&A, IPO & Public Markets

liquidround.ai · Predictive Labs Ltd

LiquidRound is an AI-powered chat-first workspace for investment banking and equity capital markets. A squad of specialist AI agents covers the full deal lifecycle — buyer-led sourcing and diligence, seller-led positioning and IPO readiness, and public markets intelligence.

Architecture

flowchart TB
    USER(["User"]) -->|HTTPS| SERVER

    subgraph SERVER["FastHTML Process · port 5007"]
        LANDING["Landing & Blog\n/, /blog, /agents"]
        APP["Chat App\n/app — 3-pane shell\nSSE streaming"]
        SCHED["Scheduler\ndigest · candidates\nsecurity returns"]
    end

    subgraph DATA["PostgreSQL"]
        LR[("liquidround\nusers · workflows · messages\nipo_pipeline · deal_candidates")]
        HF[("hedgefolio\n13F holdings · 10K funds\n3.4M positions · $71T AUM")]
    end

    subgraph EXT["External APIs"]
        XAI[["Grok LLM\napi.x.ai"]]
        TAVILY[["Tavily"]]
        EXA[["EXA"]]
        YF[["yfinance"]]
        PM[["Postmark"]]
    end

    APP --> LR
    APP --> HF
    APP --> XAI
    APP --> TAVILY
    APP --> EXA
    APP --> YF
    SCHED --> PM
    SCHED --> LR

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What it does

• Buy-side M&A — find acquisition targets, run diligence, score matches, build IC memos
• Sell-side M&A — prepare teasers / CIMs, identify buyers, assess IPO readiness
• Public Markets — IPO tracking (map, pipeline, prospectus), SPAC lifecycle dashboard
• Hedge Fund Intelligence — SEC 13F institutional holdings, fund AUM rankings, activist filings
• BYOD — upload pitch books, CIMs, term sheets; agents read, cite, and draft from them

AI Agent Squad

23 specialist agents across 6 categories. The auto-router picks the right agent from natural language, or use a prefix shortcut (scan:, dcf:, memo:, hedgefunds:, etc.).

flowchart TD
    MSG["User Message"] --> ROUTER["Router\nagents/router.py"]
    ROUTER -->|"scan: triage:\nintent: buyer:"| SRC["Deal Sourcing"]
    ROUTER -->|"comps: ltm: dcf:\nmulti: synergy:"| UND["Valuation"]
    ROUTER -->|"vdr: abstract:\nlegal: ops: esg:"| DIG["Due Diligence"]
    ROUTER -->|"memo: teaser:\nbid: ipo: score:"| CAP["Capital"]
    ROUTER -->|"research:\nintegrate:"| PORT["Portfolio"]
    ROUTER -->|"hedgefunds:"| PUB["Public Markets"]

    style ROUTER fill:#F59E0B,color:#0B1220,stroke:#D97706
    style SRC fill:#3B82F6,color:#fff
    style UND fill:#8B5CF6,color:#fff
    style DIG fill:#EC4899,color:#fff
    style CAP fill:#10B981,color:#fff
    style PORT fill:#F97316,color:#fff
    style PUB fill:#06B6D4,color:#fff

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🔍 Deal Sourcing (4) Target Scanner Buyer Scanner Deal Triage Seller Intent	📊 Valuation & Underwriting (6) Company Profiler Comps Finder LTM Normalizer DCF Valuer Multiples Valuer Synergy Analyst	📋 Due Diligence (5) VDR Auditor Contract Abstractor Legal Reviewer Operational DD ESG Reviewer
💼 Deal Execution & Capital (5) IC Memo Writer Teaser Designer Bid Strategist IPO Readiness Match Scorer	🔬 Research & Post-Deal (2) Research Analyst Integration Planner	📈 Public Markets (1) Hedge Fund Analyst (13F, AUM, activist filings)

See docs/architecture_readme.md for the full architecture documentation with 11 Mermaid diagrams.

Key Features

Chat Interface

Three-pane layout: left nav (sessions, agents, workspace), center chat with streaming responses, right artifact canvas (tables, charts, PDF previews).

Public Markets Dashboard

• IPO Map — global treemap sized by market cap, colored by post-IPO performance (RdYlGn)
• IPO Pipeline — upcoming US IPOs from NASDAQ calendar, private mega-caps by sector
• SPAC Tracker — KPI cards, annual IPO chart, status donut, searchable table with 13F cross-reference
• Prospectus Builder — analyze IPO prospectus documents

Hedge Fund Treemap

Interactive Plotly treemap of SEC 13F institutional holdings. Filter by fund, min value, and position count. 10K+ funds, 7M+ holdings.

Workspace

Companies directory, deal pipelines (kanban), daily AI-curated digest, valuation simulator (DCF + multiples), text-to-SQL analytics, virtual data room, document management, deal history.

Free Tools (no sign-in)

• Market Comparables — sector M&A benchmarks
• Business Valuation — indicative range with AI value drivers
• Find Buyers — strategic and financial buyer matching

Exports

• XLSX — agent tables as formatted spreadsheets
• DOCX — IC memos and teasers as Word documents
• PDF — memo preview in-app, company cards as branded PDFs

Quick Start

uv pip install -r requirements.txt
python main.py                    # starts on port 5007

Or with Docker:

docker compose up --build

Environment

XAI_API_KEY=...          # primary LLM (Grok via x.ai)
OPENAI_API_KEY=...       # fallback LLM
EXA_API_KEY=...          # semantic search
TAVILY_API_KEY=...       # web search
DB_URL=postgresql://...  # PostgreSQL
SESSION_SECRET=...       # session cookie signing

At least one of XAI_API_KEY or OPENAI_API_KEY is required.

Testing

pytest -q                              # unit tests (125 cases)
pytest -q tests/test_registry.py       # agent registry integrity
pytest -m e2e                          # Playwright E2E (requires server on :5007)

Tech Stack

• Backend — Python, FastHTML, HTMX, LangGraph, LangChain
• LLM — Grok (x.ai) or OpenAI via utils/llm_factory
• Database — PostgreSQL (liquidround + hedgefolio schemas)
• Charts — Plotly.js (treemaps, bar, donut, histograms)
• Styling — Tailwind CSS (CDN), custom dark navy + amber palette
• Data — yfinance, SEC EDGAR, Exa, Tavily, NASDAQ calendar
• Deploy — Docker Compose on Coolify, Postmark for email

Data Pipelines

python -m scripts.sync_spacs --enrich       # SPAC data (NASDAQ + EDGAR + yfinance)
python -m scripts.download_sec_13f          # quarterly 13F institutional holdings
python -m scripts.sync_activist             # daily 13D/G activist filings
python -m scripts.daily_deals --all         # send daily digest to opted-in users

License

Proprietary — Predictive Labs Ltd. All rights reserved.

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Predictive Labs Ltd · liquidround.ai