We built and sold software before we wrote a check. Now we back the ones doing the same — and buy the ones already making money.
read thesis →We built and sold software before we wrote a single check, which means we underwrite differently than most funds. Product velocity is the only diligence metric that hasn't lied to us — a founder who ships weekly tells us more than a deck ever could.
That's why we don't just write checks. We spend hours inside the businesses we back, doing the unglamorous work most funds outsource to a portfolio-ops team that's never shipped a feature.
If a founder wants liquidity instead of a board seat, we're the exit. No process, no auction — a term sheet in fourteen days and an operator on the other side of the table who's done this before.