README FILE
v2.0
We are patient, risk-on capital for building what's next.
Every once in a while, new companies are built that change everything. We believe a small handful of companies define each generation. We exist to fund these companies at the earliest stages, when the idea is far from consensus, and partner with them for decades. Our approach to doing this is flexible, long-term, multi-stage, and global.
We’re relentlessly focused on one thing: owning stakes in the best companies and funds. Period.
To achieve that goal, we have an open mandate and take a full-stack approach. We spend the vast majority of our time investing directly across private markets. And then we supplement that focus by investing through funds alongside great GPs, via purchases of secondary sales, and by acquiring minority interests in general partnerships (both firms and funds).
1
Early-stage venture capital
We back founders building what's next with as little as $50K and as much as $1M. Historically, 97% of our investments are in Seed through Series A stage companies. We're generalist investors with a deep interest in financial infrastructure, AI infrastructure, full-stack solutions to difficult problems, and frontier technologies.
2
Limited partnership interests
We also back extraordinary investors by investing alongside them in their funds as limited partners. When we do, we usually invest through sidecar vehicles created for investors and advisors that add tangible value. We're investors in funds from NfX, Weekend Fund, Not Boring, Supercharge.vc, Designer Fund, GEM Realty, and many more exceptional firms.
3
Secondary sale purchases
Over time, we've broadened our mandate to include secondary sale purchases. When we participate, we do so as an acquirer focused on both private company shares and LP fund positions. We complete diligence in days (not weeks), make firm final offers, and close quickly. Our goal is to be the acquirer of choice.
4
General partnership stakes
We invest in world-class GPs in search of liquidity and a great long-term partner. As a GP ourselves, we have deep experience in fund strategy, due diligence, portfolio construction, capital formation, and investment strategy. We enjoy working directly with our GPs to add alpha. To date, we've acquired stakes in Polychain and Designer Fund (Fund I and II).
4
Family of funds
In 2019, we founded Ligature: The Design VC to scale our impact. Ligature is focused solely on early-stage venture capital, combining our focus on fintech and frontier technologies with hands-on design support for portfolio companies. Over the last 5 years we've deployed more than $10M and earned top-decile returns every single year.
We believe a small handful of companies define each generation. Our mission is to partner with these intensely focused teams for decades.
COMPANIES
