KEEL CONSOLE · HOW TO USE IT · 3-MINUTE READ

Five stages. Clear owners.
The monthly pack is the only data requirement.

KEEL is decision provenance for the hold period: the IC thesis captured at approval, reversal triggers wired to sources you already report, every reversal attempt classified — fear, analysis, or new information — before the decision, and an append-only ledger that survives audit.

STAGE 01 · DAY 0

Capture

CEO + OPERATING PARTNER · ~20 MIN, ONCE · THESIS, CONVICTION, TRIGGERS

STAGE 02 · WEEK 1

Wire

PORTCO CFO · MAP EACH TRIGGER TO SOURCE, OWNER, CADENCE

STAGE 03 · MONTHLY

Monitor

DAY +10 CLOSE · ACTUALS VS TRIGGERS · PRESSURE LOGGED SEPARATELY

STAGE 04 · EVENT

Intercept

REVERSAL DRAFTED → CLASSIFIED IN SECONDS · DECISION RIGHTS UNCHANGED

STAGE 05 · REVIEW DATE

Review

OPERATING PARTNER · OUTCOME LABELS THE ROW · THE LOOP CLOSES

THE GOVERNANCE CONDITION — WHY REVERSALS ACTUALLY ROUTE THROUGH KEEL KEEL doesn't catch reversals telepathically. The fund makes it a condition: no capital release without a captured commitment; no reversal resolution reaches the board without a provenance row. The leverage is yours — KEEL is just where the record lives.

OPERATING PARTNER

Your console. You see trigger headroom across the portfolio, get intercept alerts, and run outcome reviews. Stages 01, 04, 05.

PORTCO CFO

Zero incremental reporting. Triggers are wired to the monthly pack you already produce — email or upload on close. Stage 02–03.

FUND CFO / GC

Single-tenant, append-only, hash-chained, exportable in full. Every strategic reversal in the hold period, data-room ready.

FIRST SESSION — TWO WAYS TO START

Load the demo portfolio (Meridian Logistics, four decisions, one reversal attempt mid-flight) and take the guided tour — or start clean and capture your first real commitment. Demo data is clearly marked and can be cleared at any time.

STAGE 01 · CAPTURE · CEO + OPERATING PARTNER · ~20 MIN, ONCE

Put the thesis on the record
before the pressure exists.

HOW TO DO THIS WELL Capture at IC approval or board resolution — reuse the IC memo language, don't rewrite it. Thesis in the CEO's own words (they will face these words later). Triggers come from the underwriting case: the guardrails you'd genuinely reverse on. Three is the norm. Once locked, the record is immutable — that's the point.

NEW COMMITMENT

PORTFOLIO COMPANY *

INITIATIVE *

APPROVED CAPITAL *

THESIS — IN THE CEO'S OWN WORDS *

CEO / DECISION OWNER *

CONVICTION AT COMMITMENT

80

REVERSAL TRIGGERS — THE ONLY VALID DATA-DRIVEN REASONS TO REVERSE (STAGE 02: WIRE EACH TO A SOURCE)

OUTCOME REVIEW DATE (TIE TO BOARD CADENCE)

CAPTURED COMMITMENTS

NO COMMITMENTS YET · CAPTURE YOUR FIRST ABOVE, OR LOAD THE DEMO PORTFOLIO FROM THE GUIDE

STAGES 02–03 · WIRE + MONITOR · PORTCO CFO SUPPLIES · OPERATING PARTNER REVIEWS

Actuals against triggers.
Pressure logged separately.

THE SEPARATION PRINCIPLE Operational actuals (left) and pressure signals (right) are stored and scored apart. That separation is what makes a later classification defensible. On each monthly close (day +10), enter actuals per trigger. Log pressure signals as they happen — board sentiment, market noise, press. Pressure is data too; it just isn't operational data.

COMMITMENT

TRIGGER STATUS · ENTER ACTUALS ON EACH CLOSE

PRESSURE LOG · KEPT SEPARATE FROM OPERATIONAL DATA

SOURCE

SIGNAL

DATE	SOURCE	SIGNAL

STAGE 04 · INTERCEPT · EVENT-DRIVEN · DECISION RIGHTS UNCHANGED

A reversal is drafted.
Watch the engine show its work.

HOW TO USE THE INTERCEPT Paste the draft reversal memo (or board resolution language) below. The engine runs four weighted checks — triggers, pressure timing, language vs. thesis, pattern vs. your own ledger — and classifies: FEAR, ANALYSIS, or NEW INFORMATION. If the memo cites material information your triggers never covered, tick that box: a thesis can be rationally wrong for reasons three KPIs can't enumerate. KEEL classifies. You decide. Either way, the ledger remembers.

COMMITMENT UNDER REVERSAL

DRAFT REVERSAL MEMO

MEMO CITES MATERIAL NEW INFORMATION NOT COVERED BY THE TRIGGERS

STAGE 05 · REVIEW · OPERATING PARTNER · AT REVIEW DATE OR EXIT EVENT

Close the loop.
The label becomes learning.

HOW TO RUN AN OUTCOME REVIEW At the review date (or a realization event), answer one question per decided row: was the thesis right? The outcome attaches to the classification permanently — that pairing (what we decided under pressure, and what happened) is the dataset that compounds. Reviews take minutes; skip them and the moat stops growing.

DECISIONS AWAITING OUTCOME

NOTHING TO REVIEW YET · DECISIONS APPEAR HERE AFTER AN INTERCEPT

THE CONVICTION LEDGER · APPEND-ONLY · HASH-CHAINED · EXPORTABLE

Logged. Labeled. Permanent.

Every row is exportable — board pack annex, data room, IC follow-up, LP letter. In aggregate this is the moat: a labeled record of how this portfolio decides under pressure, compounding inside your tenant. It trains nothing outside your fund.

ALL ENTRIES

ENTRY	PORTCO · INITIATIVE	CAPITAL	CLASSIFICATION	CONF	TRIGGERS	DECISION	OUTCOME

THE LEDGER IS EMPTY · IT FILLS AS DECISIONS ARE MADE

Five stages. Clear owners.The monthly pack is the only data requirement.

Capture

Wire

Monitor

Intercept

Review

Put the thesis on the recordbefore the pressure exists.

Actuals against triggers.Pressure logged separately.

A reversal is drafted.Watch the engine show its work.