How it works

From the first buyer email to the final price.

Vendu has three parts. Garde represents the company. Each fund’s Ryo represents that fund. Agora is the neutral market where they meet. Here is how a company moves through them.

Three parts

An agent for each side, and a neutral market between them.

Garde answers only to the owner. Each Ryo answers only to its fund and keeps that fund’s model private. They meet only on Agora, which runs the rules and holds no stake in who wins.

How the three parts connect

Diagram

The owner

Garde

Answers only to the owner

  • Reads documents
  • Builds the model
  • Ranks offers

The market

Agora

Sealed offer book

  • Runs the rules of the sale
  • Logs every action
  • Negotiates for neither side

The funds

  • Fund A · Ryo Private model
  • Fund B · Ryo Private model
  • Fund C · Ryo Private model

Each fund’s own team reviews its Ryo’s work.

No fund’s Ryo sees another’s bids, and there is no buyer-to-buyer channel.

The journey

Ten stages, three parts.

Each stage is labelled with the part of Vendu that does it, and whether it’s live today.

Before you sell

Private to you · Stages 1–3

  1. 01

    Garde

    Buyer emails go to Garde

    You forward buyer emails to your private Garde address, from any email account; connecting Gmail or Outlook directly is in pilot while Google and Microsoft review Vendu. Garde sorts them by firm, checks who each sender is, and shows you which firms keep writing and what they want. Nothing is sent unless you approve it.

    Live
  2. 02

    Garde

    Garde learns your company

    You add your financials in any format. Garde extracts every figure with its period, flags possible add-backs, and builds the model buyers price on. You confirm every figure.

    Live
  3. 03

    Ryo

    Every fund's Ryo screens you, anonymously

    In the background, each fund's Ryo checks your company against that fund's mandate and limits. Funds that fit see an anonymous profile with a one-line reason. Nobody sees your name.

    Live

When you decide to sell

Anonymous to funds · Stages 4–6

  1. 04

    Garde

    You decide to sell

    When you're ready, you choose what to release: your confirmed figures and a description. Nothing that identifies you goes out.

    Live
  2. 05

    Ryo

    Every fitting fund's Ryo bids

    Each fund's Ryo prices what you released with that fund's own model and assumptions, and sends an indicative bid. You see every bid with an explanation, and no fund learns who you are.

    Live
  3. 06

    Agora

    You choose who continues

    You invite the funds whose bids and fit you like best. On Agora, they accept confidentiality terms before seeing your name or data room. Sensitive files are tiered, and every download is logged.

    Live

The sale

On Agora · Stages 7–10

  1. 07

    Ryo

    People revise Ryo's assumptions

    Each invited fund's team reviews its Ryo's model, has Ryo read the data room and propose changes with evidence, and approves what it agrees with. The price is recomputed in code, and the team bids for real.

    Live
  2. 08

    Agora

    Sealed bids, ranked on your priorities

    Indications, then final bids with full terms. Garde scores each offer on what matters to you: price, certainty, rollover and your team. You shortlist and meet management.

    Live
  3. 09

    Agora

    You pick the buyer; the others stay in

    Runner-up offers stay live through diligence. Verified figures re-price every quote, and a cut without a documented finding lets you switch buyers before you close.

    Live
  4. 10

    Garde

    Garde negotiates within your limits

    Structured counter-rounds between Garde and each fund's Ryo, within limits both sides set, with people approving anything binding.

    Coming soon

Who does what

AI reads. Code computes. People decide.

AI reads.

Documents, mandates and emails: extracting figures, flagging add-backs, judging fit, sorting buyer emails, proposing model changes with evidence, and writing explanations.

Code computes.

Every price, every quote, every model figure and every re-pricing, from confirmed figures and each fund's own rules. Reproducible and explainable.

People decide.

Owners choose who to invite and which offer to accept. Funds set their models and approve changes. Management meetings, legal work and closing stay human.

Start with the side you're on.

Owners begin with Garde. Funds join through Ryo.