Pitch Deck — May 2026

Structure. Raise. Govern.

Intelligent, compliant infrastructure for real-asset owners and operators.

Confidential · SAFE Round · May 2026

Confidential

02 · The Tide

The plumbing of capital formation is being re-poured.

The mega-incumbents have already crossed. BlackRock BUIDL, Apollo ACRED, KKR HCSG II, Franklin BENJI, Fidelity FDIT, Hamilton Lane SCOPE — all live, all on permissioned rails.

The settlement layer is live. Citi Token Services runs 24/7 since September 2023. JPMorgan Kinexys deposit tokens on Base from November 2025. NYSE × Securitize T+0 from Q3 2026.

The execution layer is becoming agentic. Ardian GAIA in production with Mistral. EQT Motherbrain in its ninth year as a proprietary deal engine.

Eighteen months ago none of this was simultaneously true. Now it is.

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Confidential

03 · The Trap

The migration has a floor. Most mid-market assets are below it.

ABOVE — Mega-issuers cross with their own rails.

BlackRock, Apollo, KKR, JPMorgan, Goldman, Franklin Templeton — each built its own tokenisation stack on its own balance sheet. Economical above approximately one billion of fund-scale AUM.

THE DEAD ZONE — between approximately EUR 5M and EUR 150M per raise.

Heritage real estate. Agri-processing platforms. Mid-market commercial portfolios. Hospitality and longevity destinations.

No incumbent migration. No retail rail. The operator hires seven separate vendors per raise — legal, structuring, due diligence, broker, custody, KYC, reporting — and absorbs the coordination. Approximately 8–22% of the raise consumed by the multi-vendor stack. The 30+ year asset lifecycle then runs on spreadsheets.

BELOW — Retail platforms have been carried under different rules.

European Crowdfunding Service Provider regimes and equivalent retail frameworks serve issuances up to approximately EUR 5M per issuer per year. Below the floor those rails work. Above the floor they do not.

Where the EUR 10M–150M operator lives today — and where they will be stranded if no one builds the bridge.

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Confidential

04 · The Bridge-Builder

He built the first bridge before there was a market for it. He is building the second.

Marek Pärtel

Founder & CEO, Nestor Exchange

Founded EstateGuru in 2013, when the product did not exist, the rails did not exist, and the playbook did not exist. Built Europe’s first cross-border real-estate-backed lending platform from zero.

7,500+

projects financed

EUR 1B+

deployed

160,000+

investors

9

countries

“Origination has to be done with institutional rigour — verified at the gate, not assumed. And the asset has to be governed across its full lifecycle — monitored, reported, reconciled — not handed off after closing. Doing one without the other is what we learned. Doing both is what comes next.” — Marek Pärtel

That is what Nestor is built to do — for the operator in the band between retail and institutional, in the window where the market is migrating and the bridge is not yet built.

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Confidential

05 · Architecture

Three Pillars. One Holding. Sovereign by Design.

Pillar 2 carries the deal for thirty years. The whole stack runs on infrastructure that survives regulatory scrutiny.

Sovereign Substrate — PHOENIQS

Nestor provisions a Swiss sovereign namespace per operator subscription. The substrate is part of the Origin engagement, not a separate procurement.

IaaS

Sovereign compute · ISO 27001-audited · FIPS 140-2 Level 4 key management.

MaaS

21+ AI models self-hosted in Switzerland · no data egress.

HSM / KMS

FIPS 140-2 Level 4 hardware security · quantum-safe ready.

Jurisdiction

Swiss FDPA · CLOUD-Act-immune.

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Confidential

06 · Architecture

One Architecture. Three Layers. Multiple Counterparties.

Layer 3 · Market

Nestor Exchange

Regulated venue. Settles capital under licensed counterparties.

Axiology · EU MiFID II BMI Capital · US FINRA Lux Phase 2

Layer 2 · Engine

NexRe

Origin · institutional-quality origination (pre-issuance: deal room, document factory, due-diligence, scoring, wrapping decision).

Plexus · programmable lifecycle governance (post-issuance: covenants, reporting, distributions, alerts, 30-year lifecycle).

Layer 1 · Substrate

PHOENIQS

Swiss sovereign cloud. Operator namespace per Origin subscription.

ISO 27001 FIPS 140-2 L4 CLOUD-Act-immune

Studio engagement → Structure (Origin) → Wrap (rail) → Raise (counterparty) → Govern (Plexus). One operator. Three layers. Thirty years.

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Confidential

07 · Regulatory Rails

Two Rails Live. Three Protocols. Three Jurisdictions. Never Conflated.

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Confidential

08 · Pipeline

Active Operator Pipeline

Two markets. Sixteen operators. EUR 575M aggregate.

EUR 575M

Aggregate pipeline value across 16 active operator engagements.

Europe

Axiology DLT (MiFID II)

Baltic + Nordic concentration

United States

Propto / BMI Capital (FINRA)

Agricultural + mixed-use concentration

Real estate (heritage, commercial, mixed-use) — five operators
Hospitality, wellness and longevity — three operators
Agricultural processing — four operators
Trade finance and tokenised notes — two operators
Pharmaceutical and specialty — two operators

Live CRM aggregate, 2026-05-13. Per-deal substance available under NDA.

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Confidential

09 · Business Model

Three Pillars. Distinct Economics. One Compounding Operator Engagement.

Pillar 1 — NexRe Studio Earning today
- Equity 10–30% per venture (primary economic)
- Annual business-management fee per engagement
- Per-service fees — concept, brand, automation, agentic build
Pillar 2 — NexRe (Origin + Plexus) Activating 2026
- Plexus subscription — Essentials EUR 4K/mo · Professional EUR 12K/mo · Enterprise EUR 30K/mo
- Origin structuring fee — 65 bps per deal (range 30–100 bps)
- Plexus AUM governance — 50 bps p.a. on governed assets (model default)
- Data intelligence — EUR 3K/mo per API user (launches M6)
Pillar 3 — Nestor Exchange Activating 2026
- L1 per-instrument setup: EUR 25K (one-off, at Origin subscription + payment + bad-actor cert)
- L2 primary placement: 3% on capital raised (split 50:50 with licensed counterparty)
- L2′ secondary trading: 0.5% each side on rail
- L4 Option B white-label adder: EUR 100K one-off + ongoing licence
- L5 Investor onboarding (AML): passthrough + margin

Compounding unit economic — one operator routed through P1, P2, and P3 over the 30+ year asset lifecycle. Three revenue surfaces, decades of accumulation.

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Confidential

10 · Competition / Moat

Competition Per Pillar. None Stacks the Whole.

Pillar 1 — Venture-automation services

Competitor	Headline	Specific weakness
AE Studio (US)	Embedded AI engineering, project min USD 100K	Fee-for-service only; no issuance rail; no venture build; no lifecycle.
ARISE GTM (UK)	GTM agent deploys 5–7 days, from GBP 5K/mo	No venture build; no issuance rail; no lifecycle.
High Alpha (US)	45+ companies launched, median 17% equity per company	B2B SaaS only; no real-asset; no issuance rail.
Alloy Partners (US)	35+ companies, 1,133 AI agents across 9 portfolio cos	Enterprise-corporate anchors only; no mid-market operator model.

Pillar 2 — Institutional issuance + lifecycle

Competitor	Headline	Specific weakness
Tokeny / Apex Tokeny (Lux)	USD 32B+ tokenised cumulative; Apex acquisition May 2025	Enterprise pricing post-Apex; no Origin pre-issuance; lifecycle unproven mid-market.
Securitize (US)	USD 4.6B AUM (Oct 2025); SPAC USD 1.25B Oct 2025	US-centric Reg D/Reg S; no Lux compartment; no EU MiFID rail; thin secondary < USD 100M.
Polymath / Polymesh (Canada)	~USD 100M tokenised RE on Polymesh	White-label only; no own regulatory wrapper; no data room or lifecycle product.
Drooms LIFECYCLE (DE/EU)	120%+ NRR FY25; AI Assistant 2025	Data-room only; no tokenisation; AI is document-layer, not deal-structuring.
TokenCity (Spain)	Small Spanish tokenisation platform	Issuance-only; no pre-issuance structuring + lifecycle + partner-protocol integration.

Pillar 3 — Regulated secondary venues / ATS

Competitor	Headline	Specific weakness
Securitize Markets (US ATS)	Retail mutual-fund trading approved Dec 2025	No Lux compartment; no EU MiFID; thin secondary < USD 100M.
tZERO (US)	Leading US ATS; 23.5h trading Dec 2025; corp debt Sep 2025	US-only; no EU; no Lux; no MiFID II access.
ADDX (Singapore)	70+ deals; Hamilton Lane, Partners Group, DBS	Singapore/APAC; no Lux; no EU MiFID; accredited-only minimums.
Archax Securities (UK)	First FCA-regulated digital-securities exchange	UK post-Brexit; no CSSF/Lux; no EU passport; no Reg D wrapper.

Integration moat — no single incumbent stacks Lux compartment + US LLC + tied-agent option + EU MiFID cover under one holding in the EUR 10M–150M operator band. Securitize is the closest single peer (Pillar 2 + 3 in US) but lacks Pillar 1, lacks an EU rail, and has thin secondary below USD 100M.

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Confidential

11 · Path to USD 1B

Path to USD 1B Valuation — Milestone Scorecard

Institutional benchmarks per Nestor financial model DASH scorecard (M6 / M12 / M18 from SAFE close).

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Confidential

12 · Team

Founder Team + Operating Team

Founders

Marek Pärtel

Founder & CEO

Built EstateGuru — USD 1B+ originated, 160K+ investors, 9 countries.

Kristjan Täht

Co-Founder, Strategic Architect

20+ years technology and hospitality; architected the three-pillar system.

Joseph Korbar

Co-Founder & Capital Markets CFO

Former JPMorgan, Deutsche Bank; EUR 2B+ raised; US execution lead.

Operating Team

Jürgen Jürgenson

CXO, Venture Architect

AI-native venture architecture; Flowen background.

Melanie Mock

CPO, AI Engineer

Product + AI agent architecture.

Siim Õunap

Digital Securities & AI Systems

Exchanges, regulated digital securities, smart contracts.

Specialist counsel and operating partners off-deck — Kirsti Pent (Tegos, EU / MiFID / corporate), Philippe R. Corbesier (CreaTrust, Lux fund administration Phase 2), Steven Blanc (Propto / REClosure US distribution).

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Confidential

13 · Advisors

Six Advisers

Thomas Taroni

Chairman, Phoenix Technologies / PHOENIQS

Forbes Technology Council. EU-hosted cloud and digital trust.

Patrick Hourigan

CEO, Pearl Digital — architect, Nestor Protocol foundation

Ex-Wipro, IBM. Stablecoin licence.

Mike Fuhrmann

Former CMO, Generali Switzerland

Insurance and longevity strategy lens.

Julian Kaljuvee

AI / ML Engineering

Ex-Microsoft, ex-quant (Goldman Sachs, JPMorgan, UBS).

Peter Phillips-Minet

Finance & Revenue Creation

Ex-Goldman Sachs. Columbia MBA.

Tsvi Guy

Senior MD, BMI Capital International

FINRA & SIPC. Structured financing and M&A.

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Confidential

14 · Phasing

Three Phases. Eighteen Months. One Continuous Capability.

Phase 1 · Now → SAFE Close (W26)

EU Markets OÜ via Axiology DLT TSS — operational
US Exchange LLC via Propto / BMI — operational
Origin first paying operator (Q3)
Plexus governance live on first compartment
Entry-phase pipeline live (see slide 8 aggregate)

Phase 2 · Post-SAFE (Q3–Q4 2026)

Activate Lux ManCo + Nestor Securities Fund — CSSF-supervised, being established
First Lux compartment for Nordic family-office optic deals
Propto repositioned as future product offered to other brokers
Pillar 1 Studio engagements scale to 4–6 concurrent ventures

Phase 3 · 12–18 Months+

Own MiFID II + ECSP authorisations (Nestor-direct, no tied-agent dependency)
Own secondary venue
Series-A trajectory at the M12 milestone scorecard target

Why this works — each phase activates inside the regulatory window that opens for it. We do not run ahead of the licence; we run ahead of the competitor.

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Confidential

15 · Capital Structure

EUR 500K–2M SAFE Round — Two Pools, Five Uses

Term	Early Pool (Anchor)	Standard Pool
Pool cap	EUR 300,000	EUR 1,700,000
Post-money valuation cap	EUR 10,000,000	EUR 20,000,000
Discount to next round	20%	20%
Interest rate (capitalised)	5% p.a.	5% p.a.
Maturity	24 months	24 months
Minimum ticket	EUR 50,000	EUR 50,000
MFN protection	Yes	No
Pro-rata rights (≥ EUR 100K)	Yes	No
Critical Number	EUR 1,000,000 aggregate
Close target	W26 (calendar end-Q2 2026 forward)

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