Investment Criteria

Company

• Serving business customers in a “core” industry (e.g. HR Tech, FinTech, PropTech, Digital Industrials, etc. - see below)
• Commercial revenues at $2-7mm ARR+ and an established, scaling go-to-market
• Modest cash burn, could get to break-even with this investment

Investment

• $500K to $5M total allocation from us (potential for sidecar from our LPs)
• We typically co-invest or join syndicates, but lead rounds about a third of the time
• Capital to support forward growth and scale established go-to-market motion 

What We Don't Do

• Industries: Pure D2C plays, therapeutics, hardware, deep tech, material science, or other capital-intensive industries
• Stages: pre-seed and “pre-IPO” growth rounds
• Styles: majority or control positions, senior non-convertible debt, revenue or product financing

Focus Industries

We invest exclusively in B2B and B2B2C tech — software that makes businesses faster, smarter, and more resilient. We avoid capital-heavy models or markets where outcomes are binary. Early in the relationship, we prioritize providing customer introductions. It gives us a front-row seat to how products land — and helps founders build traction in real-world environments. We're industry agnostic, but here are a few areas we're especially excited about:

HR Tech
Platforms that help companies identify, engage, and retain top talent — with better data, sharper insights, and greater flexibility for modern teams.

FinTech
​Tools that improve financial health for employees, customers, and SMBs — or layer financial capabilities seamlessly into existing workflow.

PropTech & Real Estate
​Solutions that digitize the physical world and streamline how real estate is bought, sold, and managed.

Digital Industrials
Intelligent systems that optimize throughput, uptime, and safety in core operations like manufacturing, logistics, and infrastructure.

Our Style & Beliefs

If this sounds like a potential fit, here’s what we believe makes a strong partnership. None of these ideas are radical — but they’re often overlooked. We try to live them ourselves, and we gravitate toward founders who do too.

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Customer Economics
​Know the ROI you deliver
We look for teams that deeply understand their customers' incentives and the real-world impact of their solution. Great products align with how customers make or spend money — the best products do both by reducing costs and driving growth.

Strategic Focus
Go deep before you go wide
B2B tech can tempt teams to build cross-market platforms. But the best companies we’ve seen go deep, not wide. We value founders who’ve picked their lane and are executing with focus — or are ready to. 

Operational Cadence
Move fast — at every level
We’re drawn to teams that operate with urgency and focus: making clear, priority-driven decisions, constantly experimenting, and improving what matters most. Bonus points if you're building with AI from day one and weaving it into every part of the business.