We're venture partners and company builders. Our definition of Fundamental Venture Capitalism is backing a founder with:
A thesis is an explanation of behavior — we judge by what a founder has actually done. We back great founders and the vision they hold to change the world. Give us a founder with the fundamentals and a history of failing and learning, and we want to be the first to believe in their vision to change the world if they can build a team that can really execute.
We read a track record for unique qualification — for why this founder, uniquely, is the one to realize a vision to change the world, even in a brand-new field. The record is how we come to believe; the vision is what we back. Going somewhere entirely new is a strength when the founder is uniquely qualified to go there.
We categorize by who the customer is, and back founders after the largest market opportunities — at any stage, in any industry.
Founder- and team-sensitive, not valuation- or stage-sensitive. Understanding the fundamentals is how we look a founder in the eye and say "I get you" — and how we unblock them.