// Approach

How we evaluate a company

We use the same five stages for every company. How each one plays out can adapt to the company. We use AI to sort the evidence, and people make every decision.

STAGE 1

Initial screen

Our own software checks each company's team, technology, market and traction against our own criteria. Our team reviews what it finds.

→ First questions for the founders
STAGE 2

Founder diligence

General Partners question the founders on their claims, market and business. Most of all, can this team get machines working for paying customers?

→ Every General Partner reads the record
STAGE 3

Specialist evaluation

Technical experts and operators test whether it can be built, whether the timing is right and what could go wrong in the field. Sometimes a partner goes to see the machines running.

→ Written expert reports
STAGE 4

Weighing the evidence

That same software gathers everything from the earlier stages into one file. Where experts disagree, or questions are still open, the file says so.

→ Ready for the partners to decide
STAGE 5

Decision

Each General Partner forms their own view. We only invest if every one of them says yes.

→ Any of them can stop a deal

How long it takes depends on the company, the evidence and the deal timetable.