Subscription — for funds under 26 positions
Your whole book. Every quarter. One flat price.
Quarterly fair value marks for private credit and venture debt funds — every loan, every warrant, roll-forwards included — delivered by MELD Valuation’s engine with a full audit trail behind every number.
- Tier 1 · 1–10 positions
- $1,500per month · $18,000 per year
- Tier 2 · 11–25 positions
- $2,500per month · $30,000 per year
- Commitment
- 12months · billed monthly
Who it’s for
Built for funds the big firms won’t touch at this price
You run a credit book under 26 positions. Your auditor wants independent, defensible marks every year — and your lawyers, LPs, and board want them supported, not improvised. The national firms quote you like a 200-position platform. Doing it internally eats your quarter and still draws auditor questions.
The subscription replaces one-off, per-position valuations with continuous coverage: your entire book, marked every quarter, by the same engines and the same reviewer behind MELD’s institutional work.
Venture debt fund? This was designed for you. Warrant-heavy books are the default assumption here, not an exception.
Two tiers
Pricing
| Line item | Tier 1 | Tier 2 |
|---|---|---|
| Book size | 1–10 positions | 11–25 positions |
| Monthly | $1,500per month | $2,500per month |
| Annual | $18,000per year | $30,000per year |
12-month commitment, billed monthly. 26 or more positions: custom engagement — talk to us.
What counts as a position: every instrument. Each term loan, each warrant, each convertible note or SAFE counts separately. A loan with an attached warrant is two positions. Your tier is set by instrument count when you start and re-checked at renewal — if your book grows mid-year, your price doesn't change until renewal.
What’s included
Everything a year of valuations should include
- 01
Quarterly fair value marks on every position. Loans via calibrated yield analysis; warrants via option models; convertibles and SAFEs via MELD's instrument engines. The same methodology auditors see from us on institutional books.
- 02
Roll-forwards included. No per-event invoices when a warrant needs updating.
- 03
New positions picked up automatically. Anything you originate during the term is calibrated and included at the next quarterly mark, within your tier.
- 04
Annual valuation policy document for your fund — the thing your auditor asks for first.
- 05
Audit support. One consolidated auditor comment round per audit cycle, handled by us.
- 06
Delivery you can put in front of anyone. Mark package with support exhibits per position, within 10 business days of data-complete, through the client portal.
The edge cases, priced honestly
When your book gets complicated
Complexity is priced, never absorbed — and never a surprise invoice:
- Stressed or non-accrual credit requiring recovery analysis
- +$750 per position per quarter while stressed
- Expedited delivery (under 5 business days from data-complete)
- +$1,000 per occurrence
- Auditor support beyond the included comment round
- $450/hr
- Off-cycle event valuations (amendments, refinancings, exits)
- Quoted from MELD's rate card
Credibility
The name behind the marks
- Years
- 12+
- Valuation reports
- 10,000+
Aestima is built and signed by MELD Valuation — 12+ years, 10,000+ valuation reports, serving VCs, private equity, private credit funds, and family offices. Our research on private credit mark dispersion is read by the institutions that price this market.
Your auditor doesn’t get a black box. Every mark carries its inputs, its calibration, and its support exhibits.
FAQ
Questions funds actually ask
Why is my first audit the right time to start?
Because that's when improvised marks get expensive. Starting before year-end means your 12/31 marks arrive audit-ready, with the policy document and support your auditor will request.
We have 4 warrants and 3 loans — which tier?
Seven positions — Tier 1. Warrants count like any other instrument.
Our book will grow past 10 this year.
Your price holds until renewal. At renewal, you're re-tiered to the actual count.
We're at 30 positions.
You're past the subscription — and that's a good problem. Talk to us for a custom engagement.
Who actually does the work?
MELD's valuation engines run the models; MELD reviews and signs the output. Same standard as our institutional engagements — the subscription changes the packaging, not the work.
Next step
Get started — or book 20 minutes and we’ll walk through your book.
12-month commitment, billed monthly. Your first quarterly mark package arrives within 10 business days of data-complete.