Why we invest in founders before ideas

Ideas are cheap. Execution is not. In every early-stage bet we've made, the strongest predictor of a good outcome has been the operator running it — not the deck.

Grit over pedigree Founders who have shipped anything — a side project, a store, a service business — outperform founders who only planned.

Speed of iteration We track how quickly a founder incorporates feedback. A weekly cycle beats a quarterly cycle every time.

Skin in the game Personal commitment (time, money, opportunity cost) is a leading indicator of persistence when things break — and things always break.