Most firms wait for the shape of a company to resolve. We think the resolving is the company — and that showing up before it happens is the whole job.
What "earliest" actually means
It means backing a founder who has an insight and not yet a product. Concretely:
before the metrics exist to argue about
before the round has a lead
often before the company has a name it keeps
The discipline underneath
Running a wide portfolio only works with a clear rule for concentration. Ours is promotion-to-Pre-A: breadth at entry, conviction where it is earned.[1]
| Stage | What we look for |
| Pre-Seed | An insight we cannot argue away |
| Seed | Evidence the insight survives contact with users |
| Pre-A | Momentum worth concentrating behind |