Concentration, not coverage
We make six to eight new investments a year. Each one gets a partner's full attention.
Our approach
Capital is
commoditized.
Judgment is not.
Anyone can wire money. What compounds a company is the quality of decisions made around the table over a decade. That is the work we obsess over.
The process
Four phases.
One partnership.
- 01
Listen
We start with the founder's view of the world, not our own. First meetings are about the problem and the insight — never a checklist. We move quickly to a yes or an honest no.
- 02
Underwrite
We do the work ourselves: customer calls, technical diligence, and a model we can defend. We share our memo with you before we invest, because partnership begins with candor.
- 03
Capitalize
We lead or co-lead, take a board seat when invited, and reserve meaningfully for follow-on. Our capital is patient — we underwrite to a decade, not a fund cycle.
- 04
Compound
After the wire, the work begins. Recruiting, go-to-market, the next round, the hard board conversation. We are reachable, prepared, and in the trenches.
What you can count on
Principles we
do not flex.
Founder-aligned terms
Clean structures, no surprises, and incentives that reward building the company — not optimizing the cap table.
Permanent patience
Our LP base is built for duration. We never push a sale to fit a return timeline.
Operating depth
Our team has built and scaled the kinds of companies we fund. The advice is earned, not theoretical.
Where we invest
From first check
to the last round.
StageTypical checkOwnership targetOur role
Seed$1M – $4M10 – 15%Lead or co-lead
Series A$5M – $15M12 – 20%Lead, board seat
Series B$15M – $40M8 – 15%Lead or co-lead
Growth$40M+5 – 10%Follow-on, support