New York · London
Inquire

Pre-IPO & late-stage

We back what lists next — from the first round to the listing.

Conviction capital from the first institutional round — and late-stage positions opened to qualified investors before the market prices them.

Start a conversation

Live positions

Open positions,
closed process.

Both are placed privately, disclosed under NDA, and allocated by introduction.

Late-stage growth position

A category leader at commercial scale, preparing to list.

Sector
Disclosed on request
Stage
Late-stage, pre-listing
Access
Qualified investors

Pre-IPO secondary block

A separate company. Holders have released a block.

Sector
Disclosed on request
Stage
Pre-IPO secondary
Access
By introduction

Not an offer of securities. Positions are taken under definitive documents by qualified investors only.

Our thesis

Conviction before consensus — or we do not write the check.

Conviction first, then diligence by operators rather than analysts. Then commitment — and the position held through every round that follows, including the one that lists.

Where we invest

Four stages,
one relationship.

Pre-seed & seed
First institutional capital. $0.25m – $2m.
Series A–B
Traction into a repeatable go-to-market. $2m – $10m.
Growth
Follow-on as the company widens. $10m – $30m.
Pre-IPO
Within sight of a listing. Selective.

What compounds,
not what is crowded.

What we back

  1. Applied AI & automation

    Software that does the work, not software that describes it.

  2. Fintech & digital assets

    Regulated payments and the rails beneath them.

  3. Health & life sciences

    Clinical software that proves an outcome, not an intention.

  4. Climate & energy

    Grid economics that hold without the subsidy.

  5. Digital infrastructure

    Compute, connectivity and the plant beneath.

Beyond the capital

The check is the start, not the offer.

  1. At the round

    Operators, customers and senior hires, one call away.

  2. Between rounds

    Follow-on capital, and a plan two rounds ahead.

  3. Into the listing

    Buyer and banker relationships across North America and Europe.

By the numbers

The vantage we invest from.

$480m+

Capital available to deploy

60+

Companies backed since inception

80%

Of breakout rounds followed into

2

Investing hubs — New York & London

Start the conversation

Access is granted,
not sold.

Late-stage positions are opened to qualified investors who can hold them, on the terms the issuer set.

Raising, selling, or weighing the alternatives? See investment banking & advisory.

Get in touch