Investment Criteria

Partners for the long work.

We incubate and invest in early and growth-stage serial acquirer businesses through long-duration, committed capital.

Ideal founders and teams

A long-game orientation to building enduring businesses
Lean headquarters with empowered subsidiaries
Investor-operator mindsets built through experience
Data-driven, equity-efficient, and frugal decision-making
Ambitious teams with resilience and integrity across market cycles

What we look for

Durable competitive positions and long reinvestment runways
The ability to compound capital at high rates for decades
Mission-critical offerings with structural leadership in a narrow domain
Differentiated knowledge or data with strong returns on incremental capital
Decentralized, operator-led cultures and resilient cash flow