Philosophy
We like internet ventures that make information useful. We believe we are still early in the internet story and that making information useful will be one of the next waves of opportunity. Other areas of interest include internet-enabled consumer and business services, digital media, mobile, and online advertising.
When evaluating an investment opportunity we look for:
An attractive market opportunity
- A market opportunity in the hundreds of millions of $’s
- The company is capable of becoming the market leader
- There is still a viable exit strategy if the company comes in second or third
- Manageable market risks
Credible and creative people
- The team has the key technological, functional, leadership, and industry skills or will they be able to attract these skills
- Intellectual honesty
- Excellent execution
An understandable, high margin business model
- High margins create a robust business model, allowing young companies to survive mistakes, unknown unknowns, and misjudgments
Strategic Fit with Existing Relationships
- No conflict of interests
- Prefer Bay Area locations
- Potential synergies with other portfolio companies is a bonus
Capital efficient
- The company can make substantial progress with small amounts of investment. Typically we partner with other angels or VCs to cumulatively invest from $500k and $1M.
Favorable risk / return profile
Double bottom line
- We want to make money and be inspired
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