Strategy
How we think about investing
We are specialist investors with no outside LPs. We invest our own capital directly, and we sit inside an active network of VC funds who we co-invest with and refer deal flow to. That combination is the whole edge: patient, permanent capital plus a live network.
Generalist by choice
We invest where we genuinely understand the business, not to fill a category.
We'd rather pass on a deal outside our understanding than optimize for coverage.
The Conviction Method
We prioritize founders who arrive already referred by a VC in our network, or who already have a VC committed in the round.
Referrals come from VC funds across Europe. We know these funds at multiple levels: often directly with partners, and where useful, with the analysts closest to a deal.
What we look for
Solid underlying economics
A business model that works on its own terms: unit economics we can underwrite.
A differentiated competitive advantage
Something specific and defensible: technology, distribution, insight, or team, not just being first.
Significant growth potential
A market and a team capable of turning an early-stage startup into an established business.