simulfund.com

What It Is

Simulfund is an AI-assisted app for startup fundraising and VC term sheets, available on iOS, iPad, and macOS. It is not a general-purpose document tool; instead, it focuses on financing scenarios such as valuation, dilution, option pools, preferred share terms, anti-dilution, and liquidation preferences, offering capabilities for creating, simulating, explaining, reviewing, and exporting terms. Its target users include founders, investors, angels, advisors, lawyers, and students learning about startup financing.

Core Capabilities

Its AI capabilities are centered on local models running on Apple MLX. The iOS version offers 8 local models with up to 8B parameters, while the Mac version offers 12 models with up to 30B parameters, along with private AI chat, Thinking/Non-Thinking modes, long context, and PDF term sheet import. Mac users can import PDF term sheets into chat to identify red flags, explain key clauses, and compare them against market standards. The “Hack” feature can analyze pasted clauses, explain their impact on founders and investors, flag loopholes or one-sided language, and suggest rewritten versions.

Pricing and Privacy

The page only states that the app is available from the App Store and Mac App Store, and emphasizes no subscriptions and no accounts, but it does not disclose specific pricing, one-time purchase costs, or in-app purchase details. Privacy is a major selling point: all processing happens locally on the device, the app can be used offline, there is no data collection, no ads, no SDKs or trackers, and files and data are stored with encryption. Sensitive term sheets do not need to be uploaded to the cloud.

Pros and Cons

Its strengths are its highly focused use case: it combines AI-based clause review with valuation, equity dilution, and financing round calculators, making it useful for quickly establishing a shared understanding before negotiations. File support is also fairly complete, with import and export for CSV, PDF, TXT, Clause, and Term Sheet files. The drawbacks are that it clearly depends on the Apple ecosystem, and the iOS version lacks the private chat and PDF import features available on Mac. Local model performance is also limited by device hardware. More importantly, the page explicitly warns that AI output may not be fully accurate and cannot replace advice from a qualified lawyer.

Who It’s For and Access from China

Simulfund is suited to founders, investors, and legal advisors who frequently deal with early-stage financing terms and care about confidentiality. It is also useful for students learning how VC mechanics work. For general contract review or Chinese legal scenarios, the page does not indicate Chinese-language support or adaptation to local jurisdictions. Access from China cannot be determined from the text; distribution depends on Apple’s app stores, so network and payment availability will depend on the user’s store region. As for alternatives, the text does not provide comparable products.