Next Wave Advisory

Monetize the systems you no longer maintain.

Legacy codebases come with documentation and a record of the decisions your engineers made. We license all of it to AI foundational models, originate the deal, and run the legal.

Most closes land in about four weeks.

What qualifies is proprietary code and operational data from real businesses.

01 / Category

Up to €300K

Legacy codebases.

The codebase no one wants to maintain is the one buyers will pay most for. Frontier teams need agents fluent in the stacks that still run banks and infrastructure, and public training corpora missed almost all of it. Long running legacy systems command the premium, modern codebases are priced on assessment, and open source is out of scope.

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Ownership

Proprietary and non-public. Open source projects are not in scope.

Commit history

1,500 or more commits preferred.

Contributors

Four or more unique contributors.

Test coverage

50 percent or greater preferred.

Operating history

Longer development histories carry more value. Codebases spanning many years, with demonstrable architectural evolution, are of particular interest.

Not every box

A codebase need not satisfy every criterion. Where you are unsure, send it anyway. We would rather assess a codebase and decline than see a strong candidate withheld.

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COBOL

Banking and insurance core systems.

FORTRAN

Scientific computing, oil and gas, defense, weather modeling.

RPG / IBM i

Mid-market ERPs, manufacturing, distribution.

Ada

Defense, aerospace, rail signaling.

Pascal / Delphi

Industrial software, point of sale, Central European enterprise.

PL/I

IBM mainframe, financial services.

PowerBuilder

Client-server enterprise apps from the 90s and 2000s.

Visual Basic / VBA

Internal tools, Access apps, Excel macros at scale.

ColdFusion

Older enterprise web applications.

Perl

Sysadmin, bioinformatics, legacy web.

Smalltalk

Banking and trading systems.

ABAP

SAP customizations.

Legacy Java EE

Pre-Spring-Boot enterprise Java, J2EE, older application servers.

Modern stacks

Python, Go, TypeScript, JavaScript, Java, Rust, C#, and .NET are in scope and priced on assessment. A codebase outside every description here is still worth sending.

02 / Category

Up to €30K

Operational data.

From digitally managed companies, whether you are still trading or winding down. The messy reality of how a real business ran is what public training data cannot replace: emails, decisions, transactions, design files, and the back-office systems that ran it. If your company is still operating, you decide what leaves and what does not.

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Headcount

10+ at peak. More data, more value.

History

Operated for two or more years. Enough timeline to be interesting.

Type

Real software, tech, or digitally operated business. Not pure services.

Authority

Founder, investor, or estate signatory authorized to transfer.

Obligations

No ongoing customer obligations blocking disclosure.

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Communication

Email, chat, Slack, Teams, Discord, voicemail.

Project tracking

Jira, Linear, Asana, Monday, ClickUp, Trello.

Documents

Drive, SharePoint, Dropbox, Notion, Confluence.

CRM and sales

Salesforce, HubSpot, Pipedrive, deal notes, lost-deal reasons.

Customer support

Zendesk, Intercom, Freshdesk, ticket transcripts.

Meeting data

Zoom, Gong, Granola, Otter recordings and transcripts.

Financial

QuickBooks, NetSuite, Xero, ERP exports, P&Ls, AR and AP.

HR and recruiting

Greenhouse, Lever, performance reviews, calibration notes, comp data.

Design and product

Figma files, PRDs, design reviews, spec docs.

Analytics

Looker, Tableau, Mixpanel, Amplitude exports.

Internal wiki

Runbooks, onboarding docs, internal training material.

Strategy and board

Board decks, OKRs, strategy memos, all-hands recordings.

Legal and contracts

Contract templates, redlines, vendor agreements.

The code says what you built. The record of how you built it is what multiplies the value.

Pull request history

Pull requests, review discussions, reviewer comments, merge records, and linked issues.

Issue and ticket history

Jira, Linear, GitHub Issues or equivalent, including tickets, comments, assignments, and status history.

Engineering documentation

Architecture documents, design decisions, technical specifications, and internal wikis such as Confluence or Notion.

Product documentation

Product requirement documents, schemas, and data models.

Engineering communications

Slack, Teams, or email threads relating to development decisions and delivery.

Deployment and operations

CI/CD pipelines, deployment history, incident reports, and observability or monitoring records.

What to leave out

Third-party libraries and open-source dependencies are excluded. We want only the code your team wrote. Secrets, API keys, credentials, and access tokens come out before submission, and the buyer screens for them as a matter of course.


Public code is exhausted, proprietary code is not, and buyers are bidding now.

Frontier buyers have ingested the public repositories. The next generation of agents needs code that was never published, and the engineering record that explains why it was written that way.

Central Europe sits on three decades of proprietary code no one in San Francisco knows how to reach. Banks, telcos, manufacturers, and the long tail of companies that did not make it.

The window is short. Legal, assessment, and placement take weeks. Most archives in basements will still be there in two years, most buyers will not.

The process runs four stages. Most closes land in about four weeks.

Submit

A repository export through a secure upload link we provide, or we work from a secure environment you host.

Assessment

The codebase is evaluated together with its supporting materials against the buyer's full assessment framework.

Offer

We come back with an offer.

Agreement

A licensing agreement is executed and payment is processed.


We bridge the CEE tech ecosystem with foundational models.

01

CEE ecosystem builders

We have been in the Central European tech and startup ecosystem for more than fifteen years. Matej Ftáčnik, one of our founding partners, co-founded The Spot, the first founder community of its kind in Slovakia, and built Vacuumlabs into one of the leading software engineering practices in the region. The lawyers, founders, and engineers we call are people we have known for a decade or longer.

02

US foundational model relationships

Our partnership with an American-based intelligence company gives us a direct line to Anthropic, OpenAI, and Apple. Our deep relationship with them lets us move fast and operate on mutual trust.

03

Fair game

We are founders too. We know how much goes into building companies and how little comes back when it doesn't work out. More money back to CEE founders means more resources in the ecosystem. That is the bigger picture we are working toward.

04

Operational discipline

We move fast. The first conversation is thirty minutes under NDA. A letter of intent lands inside the first week. We do not run open-ended diligence, we do not put names on lists, and we do not stretch a process that should take days into weeks of theater. The work is yours, the wire is yours, and the timeline is short.

We work through exclusive partnerships with our buyers and take a commission on each completed deal.

Who is responsible for anonymization, title, and compliance.

Anonymization

You remove what your GDPR obligations require before anything leaves your side. The buyer anonymizes and screens at their end. Secrets, keys, and tokens come out before submission either way.

IP and chain of title

We draft reps and warranties. Sole owner, ex-employer with rights, estate signatory, university policy. We work through the chain so the seller does not.

Compliance

The process is GDPR compliant from submission through licensing. Responsibility sits with the parties: you are the controller of your own data, the buyer handles their level, and we run the process between you.


Let's monetize the systems you no longer maintain.

Tell us what you have, in code or in data, or point us to someone who might benefit from this. We make sure to respond ASAP.

Expect a reply within 2 working days.

hello@nextwaveadvisory.cz