We keep the book small deliberately — a handful of companies at a time, senior involvement throughout, paid in cash and equity rather than deploying capital.
Our ethos
Five things we hold to, mostly because we have watched what happens when nobody does.
The system outlives us.
If the work only functions while we are in the room, it has failed. Everything we build is designed to be operated by someone who was not part of designing it.
Say the number.
Commercial advice without a figure attached is easy to give and impossible to hold anyone to. We commit to definitions, targets and dates, and we write them down.
Small on purpose.
Capacity is the constraint we choose. Attention is the thing we are actually selling, and it does not survive being spread across a dozen engagements.
Earn the equity.
We take a stake because we intend to affect the outcome, not to be adjacent to it. It vests against milestones, which is the only version of that promise worth signing.
Tell them no.
Some weeks the most useful thing we do is explain why a company does not need us yet. A referral we decline is worth more than an engagement that should not have started.
If the founder is still doing the selling, we should talk.
We start every engagement the same way — a conversation, not a pitch. Tell us where it is breaking and we will tell you what we see.