We are getting a lot of investment queries that don’t fit our investment strategy, so to save our and your time we decided to openly share our basic rules. Deals that don’t fit them, get “No” straight away.
- Stage: We only invest at pre-seed or seed stages (unless we’re following-on in prior investments).
- Geography & Ambition: Where do we concentrate? No little markets. Only teams that dream big and want to conquer big markets. Only teams that want to be #1.
- Founders: We expect full-time founders who are deeply, deeply committed. A team of 2 co-founders working part-time is a No Go.
- Mobile/Internet Companies: Our focus is on internet startups. If you’re manufacturing hardware or building a restaurant, we wish you the best, but it’s not in our wheelhouse. Same goes for others.
- Revenue: We want founders who have a plan to generate revenue in the next 6-12 months, otherwise we don’t invest. This means pure content/social media startups that require millions of active users to generate initial revenue aren’t a good match.
- Minimum Viable Product: We expect founders to be able to build something light that tests their idea and generates feedback from a small base of initial customers. Don’t come to us yet if you only have a sketch on a napkin.
- Differentiation. Do not come with ideas/products that have differentiation vs competitors.