Important problem
The company addresses a consequential problem with a market capable of supporting durable scale.
Investment thesis
Technology matters when it changes what is possible.
We seek defensible innovations that can create new categories, rebuild essential systems or produce a meaningful step-change in human capability.
How we form conviction.
Technical advantage
The technology creates a meaningful improvement and has a credible path to defensibility.
Exceptional founders
The founding team combines insight, resilience, speed of learning, integrity and the ability to attract outstanding people.
Category potential
The company can define or lead an important category rather than merely participate in one.
Responsible scale
Growth strengthens the company, its customers and the systems on which it depends.
Conviction is earned through understanding.
- Independent thinkingWe are willing to disagree with the market when the evidence is strong.
- Long-term orientationWe assess what a company can become, not only how it is currently priced.
- Active usefulnessOur role is to improve the founder's odds without replacing the founder's judgment.