We are interested in Founders who want to transform a market, not iterate it.
Change is the prerequisite to disruption. Therefore, to monopolize a market globally we believe you must fundamentally disrupt it.
To do that you must have a product which solves a painful problem in a significantly better way (10x better ideally) than existing solutions, or serves a need which today is not being satisfied in another way.
To put it another way we invest in billion dollar opportunities; which we define as:
A startup which is doing something which in the future will be scalable enough in a large enough market for a future valuation of $1bn to not just be feasible, but probable.
The Founder(s) have a narrative which explains why they believe (1) is true.
A CEO who has the ambition and drive to want to build such a business and can evidence from their actions and choices to-date that this is the case.
We are geography agnostic with a bias toward UK/Europe/US, and our sector choice is fluid in order to respond to market changes. Areas of interest include:
Deep-tech, where one of the core challenges is technical and often the market is early or nascent; e.g.
- AI and Deep Learning
- Quantum Computing
- Computer Vision, AR and VR Blockchain and Crypto
- Drones, Robotics
Known technical solutions (SaaS platforms, marketplaces, mobile apps etc) applied to laggard markets; e.g.
- Fintech and next generation Business and Consumer apps/services
- Manufacturing, Logistics and the 4th Industrial Revolution
- Technology Platforms
- Health-tech and Death-tech
The above lists are not exhaustive.
We love investing super early, our sweet spot is first or second money-in. Unlike some other investors we don’t just say we invest early stage we actually do it – check our portfolio.
Early stage is a broad label; specifically for us it includes:
- Conceptual – Seed/Pre-Seed rounds (concept/lean testing phase, BETA users/customers, no revenue).
- Pre-Revenue – Seed/Angel rounds (early traction and growth trajectory with users, may have some revenue).
- Growth – Seed+/Bridge and Series A (sustained record of growth among users, revenue and markets, looking to expand/scale).
Between $75k USD (£50k) and $1m (£800k), depending on stage; with an average first investment of $250k (£200k).
This can be on our own but is more often alongside other angel investors or early stage founder-friendly VCs we know and trust.
Building a great startup is incredibly hard; we support Founders with our 7EVN advisor network but also believe having a collective of great early stage investors is to everyone’s advantage.
What we don’t invest in
We will not invest in any business –however good it might be — which is not a billion dollar opportunity. See above for our definition of this.
We also don’t invest in areas we do not understand or where we cannot add value; FMCG and retail goods would be a good example of this.