# Waterfalls

> LP-favorability analysis for private funds. Waterfalls extracts fund economics from Private Placement Memoranda (PPMs), models the distribution waterfall end-to-end, and scores each fund on how much of every dollar of gross proceeds actually flows to the Limited Partner. Educational tool only — not investment advice.

The universe currently indexes **998** private funds across real estate, private equity, credit, and specialty strategies. Each fund has a composite LP-favorability score (0–100) built from five weighted dimensions: absolute LP take, GP timing risk, pref quality, fee drag, and alignment.

## Start here

- [Home](https://wtrfalls.com/): Landing page with search, rotating fund showcase, and the top-ranked fund designs.
- [Browse all funds](https://wtrfalls.com/funds): Searchable, filterable directory of every indexed fund. Facets: asset class, strategy, vintage, scored-only.
- [Leaderboard](https://wtrfalls.com/leaderboard): Adjustable-weight ranking. Users tune five sliders (LP take / GP timing / pref quality / fee drag / alignment) and the composite re-ranks live.
- [Sponsors](https://wtrfalls.com/sponsors): Every fund sponsor with average composite score, fund count, and follower count.
- [Providers](https://wtrfalls.com/providers): Law firms, auditors, fund administrators, and placement agents, tiered (AmLaw 10/20/50/200, Big 4, Tier 1/2, Regional).

## Methodology and trust

- [About / Methodology](https://wtrfalls.com/about): How extraction works, what the five score dimensions mean, limits and caveats.
- [Privacy Policy](https://wtrfalls.com/privacy): What we collect, how we use it, what we never do with user data.
- [Terms of Use](https://wtrfalls.com/terms): Educational-tool framing, acceptable use, paid tier and cancellation terms.

## Core product surfaces

- [Fund detail page](https://wtrfalls.com/funds/[slug]): Complete economics — pref rate, catch-up, per-class waterfall tiers, fee schedule with color-graded rate chips, service-provider footprint, score radar, LP-take-vs-exit sparkline, community threads.
- [Run the Numbers](https://wtrfalls.com/funds/[slug]/run): Interactive scenario builder. Sliders for capital commitment, hold period, and exit multiple feed the extracted waterfall engine to produce LP IRR, multiple, take percentage, GP promote, and fee drag.
- [Compare](https://wtrfalls.com/compare): Side-by-side comparison of up to four funds on the same standardized inputs.
- [Upload a PPM](https://wtrfalls.com/upload): Anonymous or signed-in PDF upload. Three validated uploads unlock a free year of the Analyst tier.
- [Community](https://wtrfalls.com/community): Threaded discussion anchored to specific funds, sponsors, or providers.
- [Pricing](https://wtrfalls.com/pricing): Basic (free), Analyst ($15/mo or $99/yr), Institutional ($99/mo or $999/yr).

## Top-ranked funds (live)

- [Traction Capital Fund - Land Development LLC](https://wtrfalls.com/funds/traction-capital-fund-land-development-llc-f998): composite 79.2 · Unique Ability Capital, LLC (Wesley Greene) · Land Development (residential + commercial)
- [DF Growth REIT, LLC](https://wtrfalls.com/funds/df-growth-reit-llc-f065): composite 72.5 · Residential RE
- [Energea Portfolio 3 Africa LLC](https://wtrfalls.com/funds/energea-portfolio-3-africa-llc-f078): composite 68.8 · Residential RE
- [Auerbach Opportunity Fund IV, LP](https://wtrfalls.com/funds/auerbach-opportunity-fund-iv-lp-f992): composite 67.3 · Auerbach Funds / Auerbach GP IV, LLC · Diversified Real Estate
- [AAA Storage Growth Fund II, LLC](https://wtrfalls.com/funds/aaa-storage-growth-fund-ii-llc-f994): composite 66.1 · AAA Storage Management Company, LLC · Self-Storage
- [MC Debt Fund 1, LLC](https://wtrfalls.com/funds/mc-debt-fund-1-llc-f996): composite 65.7 · MC Debt Fund Manager, LLC (PassiveInvesting.com) · Mortgage / Real Estate Debt
- [Energea Portfolio 1 LLC](https://wtrfalls.com/funds/energea-portfolio-1-llc-f077): composite 65.0 · Residential RE
- [Rock Fund VII-A, LLC](https://wtrfalls.com/funds/rock-fund-vii-a-llc-f196): composite 64.6 · Residential RE
- [DF Growth REIT II, LLC](https://wtrfalls.com/funds/df-growth-reit-ii-llc-f066): composite 64.3 · Residential RE
- [NV REIT LLC](https://wtrfalls.com/funds/nv-reit-llc-f163): composite 64.2 · Residential RE
- [Golden Garages, LLC](https://wtrfalls.com/funds/golden-garages-llc-f995): composite 63.8 · Nectar Garages Manager, LLC (Ben Lapidus & Gerrit Van Maanen) · Garage / Self-Storage (condo)
- [RealtyMogul Income REIT, LLC](https://wtrfalls.com/funds/realtymogul-income-reit-llc-f189): composite 58.5 · Residential RE
- [MogulREIT II, Inc.](https://wtrfalls.com/funds/mogulreit-ii-inc-f159): composite 57.8 · Residential RE
- [RealtyMogul Apartment Growth REIT, Inc.](https://wtrfalls.com/funds/realtymogul-apartment-growth-reit-inc-f188): composite 57.3 · Residential RE
- [Secured Real Estate Income Strategies, LLC](https://wtrfalls.com/funds/secured-real-estate-income-strategies-llc-f203): composite 56.5 · SREIF Manager II, LLC · Residential RE

## Machine-readable feeds

- [Sitemap](https://wtrfalls.com/sitemap.xml): Canonical URLs.
- [Funds sitemap](https://wtrfalls.com/sitemap/funds.xml): All fund detail pages.
- [Sponsors sitemap](https://wtrfalls.com/sitemap/sponsors.xml)
- [Providers sitemap](https://wtrfalls.com/sitemap/providers.xml)
- [Community feed](https://wtrfalls.com/community/feed.xml): Recent threads RSS.
- [Per-fund feed](https://wtrfalls.com/funds/[slug]/feed.xml): Threads pinned to a specific fund.
- [All feeds](https://wtrfalls.com/feeds): Index of every RSS endpoint on the site.

## Disclaimers

Waterfalls is an educational analysis tool. Nothing on the site is an offer, solicitation, recommendation, or endorsement of any security, fund, or investment strategy. Information is derived from third-party documents and user uploads, is not verified for accuracy, and may be incomplete or outdated. Fund economics are modelled from source documents that may have been amended or superseded. Always consult qualified legal, tax, and financial advisors before investing. Use at your own risk.

## Contact

hello@wtrfalls.com