{
  "id": "private-capital",
  "label": "Private capital",
  "project": "Meridian 118 Capital Partners",
  "process": "Private subscription process",
  "participants": [
    "Issuer",
    "invited investor",
    "counsel",
    "verification reviewer"
  ],
  "document": "Share subscription agreement v3",
  "pain": "An issuer has a signed agreement but cannot reconstruct which supporting disclosures were shared.",
  "benefit": "The disclosure set, document version and investor response travel with the signing record.",
  "events": [
    {
      "sequence": 1,
      "time": "2026-09-28T09:15:00Z",
      "action": "Reviewer records participant checks",
      "actor": "Verification Reviewer",
      "document": "Share subscription agreement v3",
      "status": "Illustrative recorded event"
    },
    {
      "sequence": 2,
      "time": "2026-09-28T10:15:00Z",
      "action": "Issuer shares disclosure set",
      "actor": "Issuer",
      "document": "Share subscription agreement v3",
      "status": "Illustrative recorded event"
    },
    {
      "sequence": 3,
      "time": "2026-09-28T11:15:00Z",
      "action": "Investor asks a document question",
      "actor": "Invited Investor",
      "document": "Share subscription agreement v3",
      "status": "Illustrative recorded event"
    },
    {
      "sequence": 4,
      "time": "2026-09-28T12:15:00Z",
      "action": "Counsel publishes agreement v3",
      "actor": "Counsel",
      "document": "Share subscription agreement v3",
      "status": "Illustrative recorded event"
    },
    {
      "sequence": 5,
      "time": "2026-09-28T13:15:00Z",
      "action": "Investor signs agreement v3",
      "actor": "Invited Investor",
      "document": "Share subscription agreement v3",
      "status": "Illustrative recorded event"
    },
    {
      "sequence": 6,
      "time": "2026-09-28T14:15:00Z",
      "action": "Reporting update scheduled",
      "actor": "Issuer",
      "document": "Share subscription agreement v3",
      "status": "Illustrative recorded event"
    }
  ],
  "illustrative": true,
  "cryptographicVerification": "Not a signed evidence pack. Fictional process illustration. No independent timestamp or identity proof."
}