Founders often ask what we are looking for. The honest answer is that we are looking for reasons to say yes, and we test for them in the same order every time. Here is what that order is, and how to make each step easy.
1. Technology at the core
We back companies where technology is the engine of the business, not a feature added to a business that would run without it. A good sign is that removing the technology would make the company stop working. If your product is a service with software on top, we are probably not the right investor, and we would rather tell you early.
2. A real problem, at scale
We want to see a problem that customers already pay to fix, badly, and evidence that your product fixes it better. Traction matters more than projections: paying customers, renewals, usage that grows without you pushing it. Then we ask whether the problem is big enough and common enough for a company that solves it to lead its category.
3. A team that can scale
Many companies can find their first ten customers. Fewer can find the next thousand. We look for founders who understand what changes between those two stages, and who have started to build the team, the processes and the discipline that the second stage needs.
How to prepare
- Lead with the problem, then the product. We will understand the technology faster if we understand what it is for.
- Show real numbers. Revenue, customers, retention, pipeline. We do not need them to be large, we need them to be true.
- Be clear about the round. How much, on what terms, what it funds, and how long it lasts.
- Tell us who else is in. We co-invest, so existing and committed investors matter to us.
If you pass these three tests, we introduce you to co-investors whose mandate fits your stage and sector, and we invest alongside them. Send us your deck to begin.