Our Seed Program: What is it?
Our seed program is designed to let us capture bold out-of-the-box capital-efficient ideas with large outcome potential.
These days it's clear that there's a large category of businesses that just don't need large piles of money to discover whether they are going to work. Startups in the Internet space in particular require dramatically less capital to launch and test traction or distribution.
A successful company of this kind often only raises two rounds: a seed round, and a post-traction expansion round.
Picking winning ideas at these pre-natal stages is usually next to impossible via conventional analysis (for founders and investors, both) because the success factors are often subtle, cultural, and unpredictable.
Thus a several-million dollar 'traditional' Series A is often "no man's land." For such companies, we wish to invest either earlier than traditional Series A, or wait until later (post-traction).
With each seed investment we wish to prove or disprove something important with a small amount of money.
Why Most Traditional Venture Firms Don't Make Seed Investments
What We've Learned