Investment thesis

Outlier founders build the companies that define industries.

We back founders building companies that could define their industry. Often that's deep tech, but not always. Before we invest, we ask seven questions.

Seven questions

The company

  1. 01

    Could it define its industry?

    A market that's small because it's new, and a path to something rivals can't copy.

  2. 02

    Do customers pull it?

    Customers who want it badly, and a company that keeps the gain.

  3. 03

    Is the market growing fast?

    On a trend that lasts, judged by growth, not today's size.

  4. 04

    What changed to make this possible now?

    A recent, specific shift, and an insight others missed.

  5. 05

    Is it ten times better?

    Better in a way customers switch for and incumbents can't follow.

The founders

  1. 06

    Would we work for them?

    Formidable, relentlessly resourceful people who could take over their industry.

  2. 07

    Are they moving fast?

    How far you've come with what you've had.

  • We invest only when all seven land here.
  • Passes if the founders and timing are a clear yes.
  • We pass, and tell you why.

If you think your company lands in the green, we'd like to hear from you.

Tell us what you're building See the companies we've backed

Questions borrowed from investors we've learned from, including Paul Graham, Sam Altman, Andy Rachleff and Mike Maples.