What We Back
We invest in commercial opportunity, not labels.
Our interests centre on businesses improving established economic activities through technology, infrastructure, distribution and better operating models.
Core focus
Financial & Business Infrastructure
Financial infrastructure underpins how organisations manage money, move value and meet their obligations. We are interested in financial products, transactions, procurement, compliance and the essential business workflows that companies depend on every day — areas where better infrastructure and sharper operating models create durable commercial value.
Adjacent focus
Technology-enabled Services
We look at services with established demand that can be delivered or distributed more efficiently through strong business models and technology — modernising how essential services reach their customers, and improving the economics of doing so.
How we evaluate companies
We assess team quality, market demand, business-model economics, distribution, defensibility, valuation and credible investment return potential.
What we generally avoid
- —businesses driven predominantly by speculative narratives
- —unclear monetisation
- —unsustainable acquisition costs
- —indefinite capital dependency
- —technology without a convincing commercial application
These are preferences, not rules. Our focus areas are not an exhaustive list — we assess every opportunity on its commercial merits.