The Venture Studio Checklist: How to Design & Build a Venture Studio

Below is a checklist of things you'll need to think through if you want to start a new venture studio. Feel fre
Feel free to use one of the options I've provided, write your own or mix & match as you see fit.
Please visit my newsletter, Focused Chaos, where I talk about venture studios (and more):

VARIABLES / QUESTIONS PUT YOUR RESPONSE BELOW OPTION A

PURPOSE: Why do you want to start a Everyone is doing it!
venture studio? Who are you
COMPARISONS: No one, this is totally
modelling
SECTION ONE: INTERNAL COMPANY STRUCTURE AND METHODOLOGYunique!
your venture studio from and
COMPANY STRUCTURE: How are you Incorporated entity
structured?
FOCUS: Are you focusing on a specific Yes, because I'm an
vertical or industry How
# OF STARTUPS: (why many
or whystartups
not)? expert
1 in a specific
per year
would you like to build
IDEA SOURCING: Whereper year? (Start
will ideas Internally: We'll do the
come
PROCESSfrom?RIGOR:
How willHow you rigorous
instigate will
new initial
Extremely ideation +
rigorous with
your validation
GENERAL and buildWhat
PROCESS: process be?
will your step-by-step
* Phase 1: Idea instructions
general processWhat
GOOD IDEAS: look like for taking
constitutes a good Sourcing
I like it / it sounds cool /
idea worth pursuing through
INITIAL VALIDATION: How will you initial feels
1 week right
ideation sprints,
conduct
VALIDATION initial APPROACH:
validation of ideas How /often pick the
Every quarter idea we think
we'll kick
will you be doing
CONVICTION: Whatvalidation?
will you look for in off
* Validated problem X
initial validation on
terms
NUMBER OF IDEAS: move
of conviction to How manysomething
ideas *We Validated
expect to solution
go through
will you go through and
BUILD: Are you building ventures stop because X ideas for every
Yes, we build everything startup
inhouse? BUILDING: How long is the
VENTURE inhouse3 months
Target:
venture
KILL building process
VENTURES: Will you after
kill you've
ventures Yes
midway through
SERVICES: What building
services if they're
will younot * User research /
provide?
INFRASTRUCTURE: What customer
* Office space discovery
/ co-
infrastructure
NETWORK: What will you
type provide?
of network do working space
* Mentor network
you
MARKETING: How will youstartups
bring to the studio and market youras ** Industry
We're notexpert going to do
studio broadly, toHow
GRADUATION: attract talent
do you define any marketing
Once the product for is
thebuilt
when
FAILURE RATE WHILE IN THE the
a startup is ready to leave and
None: launched,
We won'twe're let
STUDIO: How many ventures
POST-GRADUATION: get past if
What services, anything fail once
We'll provide advisory we
any,
HUMAN are you providing startups
RESOURCES: once
What internal help,
* Userbut no execution
Researchers
team
BUDGET:will you needyour
What's to execute
budget the for the * Developers
Under $500,000
internal team?
TEAM STRUCTURE: How will you Each venture gets a
organize the teamSTUDIO
INCENTIVIZING against individual dedicated
They're paid pod of / fair
good
EMPLOYEES:
EMPLOYEES LEAVING How do you TOprovide
JOIN A wages
Yes, it'sbut there's
part of theno
STARTUP: Do we
OUTSOURCED RESOURCES: encourage ourWhat model
* Outsource (some) dev
will you outsource
SECTION TWO: THE to others
FOUNDERSfor * Outsource design
FOUNDER RECRUITMENT STAGE: At We recruit the founder
what stage will
FOUNDER youWhat
TYPE: recruitfounder
the types once we've validated the
Only experienced
are you looking for?
FOUNDER RECRUITMENT founders that(how
* Interviews havemany?
built
APPROACH: What's your approach, with whom? how
FOUNDER QUALITIES: What are the * Grit
key
# OFqualities
FOUNDERS: you're Will
looking
youfor in with
work *We'll
Perseverance
work with solo
solo founders orRECRUITMENT:
CO-FOUNDER look for foundingIf you founders
Yes, and this is a
work
FOUNDERwith solo founders will
SOURCING: you help
Where will you requirement
Network for
& referrals
find founders?
FOUNDER RECRUITING APPROACH: Yes - we will have an
Will you have
FOUNDER an open call
LOCATION: for founders
Where will option
Locallyon ouronly
- I'm website
goingfor
founders be located?
FOUNDER COMPENSATION: What to work with
Founder joinsfounders
our studio
are
PHASEyou paying
THREE: founders?
STARTUP STRUCTURES first, pre-incorporation
INCORPORATION: At what stage will Early - as soon as we've
you incorporate How
INVESTMENT: the newmuch startup?
money are validated the problem, $0
you investing in the
INVESTMENT INSTRUMENT: How new startups whenare N/A (we don't invest)
you investing at incorporation?
EQUITY: How are you splitting up Studio takes X% in
equity?
FUTURE INVESTORS: Are you worried common
Yes we'reupfront (for
concerned,
about future /AT
CAP TABLE downstream
SERIES A:investors
What do and:
* We want the
you
CO-INVESTORS: Do you requiretoco-
expect the typical cap table look founder(s)
No, we'll dototheown at
initial
investors
FOLLOW-ON: and ifWillso, you
when? provide follow- investment
Yes, when aatstartup
on capital?
BRIDGE ROUNDS: Will you provide leaves
Yes, we'lltheprovide
venturebridge
bridge rounds, and
GOVERNANCE: if so, the
What's when? rounds
We'll take to keep ourseat
1 board
governance
STARTUP TYPES: structure for new
What kind startups?
of (or more?)
Venture backed, go for
startups are you trying
STARTUP FUNDING ALIGNMENT: to build? broke, home runsphase
* Initial validation
How
PHASE do you
FOUR:think of typical funding
VENTURE STUDIO BUSINESS MODEL = Pre-seed or Formation
ANNUAL BUDGET: What's the studio's $1,000,000
annual budget?
COVERING COSTS: How will you Self-funded
cover the costs
RUNWAY: Howof running
much the studio?
runway do you Zero, we'll wing it!
want / need before
INVESTMENT launching
IN THE STUDIO:yourIf % of the money going to
you're raising money for
FUND STRUCTURE: If you create a the studio fund
The GPoperations
is:
fund, there are
FINANCIAL a few things
RETURNS: Howyouarehave
you to Targeting similar returns
modelling
EARLY EXITS financial
OR returns (for yourself
SECONDARIES: to VC funds
We're (of a
a big fan ofsimilar
early
What's your position on early exits exits because it provides
nture Studio Version 1.0
enture studio. Feel free to copy and use this spreadsheet.

https://focusedchaos.co(sign up for free!)

OPTIONS
OPTION B OPTION C OPTION D OPTION E
Easy way to make I'm great at building I have specific The VC model is
money
Studio A startupsB and can help
Studio expertise
Studio C in an broken,
Studio Dthis is a better

Venture capital fund Incorporated entity + Non-profit

Yes, because it's a hot Fund
Yes, but a couple / few Yes and also focused No, but focused on
space right now
2 per year opportunity
3 per year areas (not on enabling
4 per year enabling
5 per yeartechnology
Externally: We'll rely on Externally: We'll work AI: We built an AI tool Anywhere: We'll be
founders
Somewhat torigorous,
pitch us with corporates
Not rigorous to We
at all. that sources ideas for agnostic to where
with general
* Phase guidelines
1: Idea know
* Phase where we want to
1: Idea
Sourcing
Big market & Validation Sourcing
Very little competition We already know Founder pitching us
1-3 months of customer We built an AI tool that something
When one of about the
us thinks has
When done their
a founder
discovery & research
We'll do initial validation does the validation
We'll validate for
one idea it's
We'lla good
alwaysidea
try we'll
and pitches us an idea,
when we have
* Solution ideas (not at a time, and
* Identified ICPgo(Ideal validate X to Y ideas
* Big market (or doesn't
validated)
We Client Profile) matter?)
workdon't really care but
to contractors,
about
manage it metric or
this Case by case basis We do some of the
Target: 6 months Target: 9 months work inhouse,
Target: 1 year some of We're flexible on how
No, we'll continue to long it takes for a
*iterate until we
Technical (i.e.figure
dev, it * Marketing (define this; * Admin (i.e. legal, * Domain expertise /
infrastructure/devops,
* Technical platform i.e. advertising,
* Automated tools accounting, back for
* Access to tools office, knowledge
(i.e. AWS,network
* Investor Azure, etc.) we've built to
* Corporate research
* Potential(i.e. CB
acquirers
* Content creation (text, collaborators
* PR & earned(design media * Paid media * Events (local/in-
audio,
Once thevideo?)
startup raises *Time-boxed
Become a thought
(3, 6, 9, 12 We'll play it by ear and person, virtual?)
more
We anticipatewe're
capital, a small months?)
We anticipate 50% see how it goes
percentage
We'll sit on thefailures
of board failure rate while
We'll continue to in the No help at all, they're
help
and provide
* Lawyer advisory + with execution,
* Marketers (i.e.if need on their own now
*$500,000
Accountant- $1,000,000 strategy,
$1,000,000 content/SEO,
- $2,000,000 - $4,000,000+
Ventures will use $2,000,000
Ventures will use $4,000,000
shared builder
Studio employees get shared administration
Studio employees get Studio employees get Another structure (i.e.
options in the studio
No, we want to keep equity
We're not opposed to options in each startup
in each startup trust model, etc.)
them in the studio
* Outsource legal, this, but we don't
* Outsource marketing
accounting, (i.e. advertising,
We recruit the founder We recruit the founder
once we've validated
Only experienced once the MVP
First time is built Founders need to be
founders
founders that and/or
* Personality have built * Working sessions, able to invest /their
* Mini-project own * Background checks
challenge
psychometric testing (or brainstorming sessions, * Reference checks
* Builder (capable of * Coachable * Great at sales * Openminded
building; dev/design?)
We only work with 2 *We'll
Self-disciplined
work with solo * Great at raising capital * Determined
founder teams (at least) founders
Yes, but they might not No, we leave and itfounder
up to
need
Job postings (through Outbound - I'll identify if
(or want) one and the founder to decide 3rd party recruiter Events
LinkedIn, Indeed,
No - we won't etc.) and reach out to
accept
applications
Countrywideopenly,
(i.e. Continent wide (i.e. Globally
anywhere
Founder joins when a anywhere in North
in the U.S
startup is created and is
Midway - we've When the startup is
validated the
$50,000-$100,000 problem ready to launch (MVP
$200,000-$300,000 $500,000 $1,000,000
SAFE Convertible debt Priced round
Studio takes X% in
preferred
Yes we'reshares
concerned, No we're not concerned No we're not concerned
but
* We want the to focus * We want the
we're going because
* We want we're
the funding
founder(s) to own
No, but ideally there are founder(s) to own
No, but ideally there founder(s) to own <
Yes, at incorporation Yes, at launch (or
co-investors at are co-investors
No, after incorporation Yes, we'll invest up toat when a startup is
we
No,will
we not putprovide
won't any the Series A (or
Maybe
bridge
We won'trounds
sit on the We won't sit on the
board,
Profitable businesses board
but we'll have 1 We're or have -asome
flexible board
that do not
* Startup require
launch = Pre- startups
* Startupmight take the
graduation = * Startup scale (post
seed or Seed Seed or Seed+ venture studio,
$2,000,000 $4,000,000 $5,000,000 $10,000,000
Raise capital from Chargebacks from Generate revenue Generate revenue
external
1 year investors startups
2 years we build through
3 years services (i.e. through
4+ yearsproducts (i.e.
Structure of the Investor rights: Liquidity - how do Future funding - when
investment:
The fund economics Fund invests at: investors
Fund invests alongside will
get their Fundyou need to raise
criteria:
are:
Targeting better returns the holdco/inc or is the
than
We'reVC funds
a big fan of We're not a fan of early
secondaries, starting at exits or secondaries,
 Dec 5, 2023

OPTION F OPTION G
I'm great at
investing early stage

No, but focused on No, I'm going to do

B2B
X per(across
year whatever feels right

* Fundraising
(coaching, support,
Social media

More than $1M

Yes, the founder(s)

needs to invest at

Grants (government
or others)
The Corporate Venture Studio Checklist: How to Design & Build a Corpora
Below is a checklist of things you'll need to think through if you want to start a new corporate venture stud
Feel free to use one of the options I've provided, write your own or mix & match as you see fit.
Please visit my newsletter, Focused Chaos, where I talk about venture studios (and more):

VARIABLES / QUESTIONS PUT YOUR RESPONSE BELOW OPTION A

PURPOSE: Why do we want to start a Everyone is doing it!
corporate venture Who
COMPARISONS: studio?
are we No one, this is totally
modelling
SECTION ONE: INTERNAL COMPANY STRUCTURE AND METHODOLOGYunique!
your venture studio from and
STUDIO STRUCTURE: How are we Undefined group within
structured?
FOCUS: What are the thematic areas a large corporate
Thematic Area A
we're
TARGETS focused on and Do
/ GOALS: why? we have We want to generate $X
specific targets
CLOSENESS TO THE CORE:or goals in mindHow and revenue in Y years
Very close-it's focused
close to the core
OWNERSHIP is the studio Are we
STRUCTURE: on
We own them (and unit
solving business
owning
OPTIONthe TOventures
BUY: If wewe create
spinoutordo we define how: individual
Yes
want to build in an/ option
REGULARTORY LEGALto/ reacquire
COMPLIANCE
GOVERNANCE:STRUCTURE: What will the What are Venture board with
governance
STAKEHOLDER structure of the ventureWhat
MANAGEMENT: internal members that
sort
# OFofVENTURES:
stakeholder How management
many venturesis 1 per year
do
IDEA weSOURCING:
want to buildWhere per year?will (Start
ideas by Internally: We'll do the
come
PROCESS from?RIGOR:
How willHow we instigate
rigorous new will initial
Extremely ideation +
rigorous with
our validation
GENERAL and build What
PROCESS: process willbe?
our *step-by-step
Phase 1: Idea instructions
generalIDEAS:
GOOD processWhat look like for taking
constitutes a good Sourcing
I like it / it sounds cool /
idea worth
INITIAL pursuing through
VALIDATION: How willinitial
we feels
1 week right
ideation sprints,
conduct
VALIDATION APPROACH: How /often
initial validation of ideas pick the
Every quarteridea we think
we'll kick
will we be doingWhat
CONVICTION: validation?
will we look for in off
* Validated problem X
initial validation on
terms
NUMBER OF IDEAS: move
of conviction to How manysomething
ideas *WeValidated
expect to solution
go through
will we go through and
BUILD: Are we building ventures stop because X ideas for every startup
Yes, we build everything
inhouse?
BUILD STANDARDS: Do we build inhouse
Yes
according
VENTUREtoBUILDING: the corporate's technical,
How long is the Target: 3 months
venture building process after
KILL VENTURES: Will we kill ventures we've Yes
midway
IMPACTthrough building ifTHINGS
OF SHUTTING they're not
DOWN:
SERVICES: HowWhat do weservices
define and assess
will we * User research /
provide?
INFRASTRUCTURE: What customer discovery
* Office space / co-
infrastructure
NETWORK: What will we provide?
type of network do working space
* Business units /
we
MARKETING: How will we startups
bring to the studio and market our as executive
* We're notstakeholders
going to do
studio broadly, toHow
GRADUATION: attract talent
do we define when any marketing
Once for is
the product thebuilt
a venture is
FAILURE RATEready to leave
WHILE IN the
THEventure and launched,
None: We won'twe're
let
STUDIO: How many ventures
POST-GRADUATION: What services, get past if anything fail once we
We'll provide advisory
any,
HUMAN are we providing ventures
RESOURCES: once
What internal help,
* Userbut no execution
Researchers
team will we need to execute the * Developers
BUDGET: What's our budget for the Under $500,000
internal team?
VENTURE BUDGETS: How will we Each stage gate will
allocate budget to
TEAM STRUCTURE: How will we specific ventures? come with a gets a
Each venture
organize
INCENTIVIZING the teamSTUDIO against individual dedicated
They're paid pod of / fair
good
EMPLOYEES:
EMPLOYEES LEAVING How do we TOprovide
JOIN A wages
Yes, it'sbut partthere's
of theno
VENTURE:
OUTSOURCED Do we encourage our
RESOURCES: What model
* Outsource (some) dev
will we outsource to
SECTION TWO: THE EIRs / FOUNDERS others for * Outsource design
EIR RECRUITMENT STAGE: At what We recruit the EIR once
stage
EIR will we
TYPE: Whatrecruit the EIR(s)types
EIR/founder (or are we'veexperienced
Only validated the
we looking for?
EIR RECRUITMENT APPROACH: founders
* Interviews that(how
havemany?
built
What's our approach,
EIR QUALITIES: Whattimeline,
are the key with
* Gritwhom? how
qualities
# OF EIRs: we're Willlooking
we work forwith
in solo *We'll
Perseverance
work with solo
EIRs/founders or look
CO-FOUNDER RECRUITMENT: If we for "founding founders
Yes, and this is a
work with solo founders
EIR / FOUNDER SOURCING: Where will we help requirement
Network for
& referrals
will
EIRwe find founders?
/ FOUNDER RECRUITING Yes - we will have an
APPROACH: Will
EIR / FOUNDER LOCATION: Wherewe have an open call option
Locallyon ouronly
- I'm website
goingfor
will
EIRfounders
COMPENSATION: be located?What are we to
EIRwork
is an with founders
employee of
paying EIRs/founders? the big company
PHASE THREE: STARTUP STRUCTURES (Most of these questions are relevant if you're spinning startups o at a
INCORPORATION: If we're spinning Early - as soon as we've
startups out, what stage
IP MANAGEMENT: If we're spinning do we do it at? validated the problem,
startups
INVESTMENT: out, how Howdo much
we transfer
moneythe are IP? $0
we investing in the
BUDGET FOR SCALING VENTURES: new startups when Business unit
If we're not spinning
INVESTMENT ventures out,
INSTRUMENT: how
If we're N/A (we don't invest)
spinning out,
EQUITY: howspinning
If we're are we investing
out, howat are Studio takes X% in
we splitting
FUTURE up equity? Are we worried
INVESTORS: common
Yes we'reupfront (for
concerned,
about future / downstream
CAP TABLE AT SERIES A: What do we investors and:
* We want the
expect the typical cap
CO-INVESTORS: Do we require co- table to look like founder(s)
No, we'll dotothe own at
initial
investors
FOLLOW-ON: and ifWill so, we
when? provide follow-on investment
Yes, when aatstartup
capital?
BRIDGE ROUNDS: Will we provide leaves
Yes, we'lltheprovide
venturebridge
bridge rounds, and
GOVERNANCE: if so, the
What's when? rounds
We'll take to keep
1 boardourseat
governance
STARTUP TYPES: structure for new
What kind startups?
of (or more?)
Venture backed, go for
startups are we
STARTUP FUNDING ALIGNMENT:trying to build? broke, home runsphase
* Initial validation
How
PHASE do we FOUR: thinkVENTURE
of typical funding = Pre-seed
STUDIO BUSINESS MODEL (Most of these questions or Formationrelevant to n
are specifically
ANNUAL BUDGET: What's the studio's $1,000,000
annual
RUNWAY: budget?
How much runway do we Zero, we'll wing it!
want / need before launching
FUND STRUCTURE: our a
If we create The GP is:
fund, there are
FINANCIAL a few things
RETURNS: Howyou
arehave
we to Targeting similar returns
modelling
EARLY financial
EXITS OR returns (for yourself
SECONDARIES: to VC funds
We're (of a
a big fan ofsimilar
early
What's our position on early exits and/or exits because it provides
Build a Corporate Venture Studio Version 1.0
orporate venture studio. Feel free to copy and use this spreadsheet.

https://focusedchaos.co(sign up for free!)

OPTIONS
OPTION B OPTION C OPTION D OPTION E
Diversify revenue Strengthen the core Protect against Reduce regulatory,
generation
Studio A for the (createBincreased
Studio disruption
Studio C compliance,
Studio D legal

New team or line of New sub-co / holdco New entity entirely

business
Thematic within
Area Ba large owned by the corporate
Thematic Area C
We want to have X
ventures builtstudio
Very far-the in Y time
will Hybrid-we'll work with
not touch anything
We spin new startups business units
We do both to solve
depending
out
No as independent on what's best for the
Maybe

Venture board w/ The studio decides on

internal & external its own which ventures
2 per year 3 per year 4 per year 5 per year
Internally: We'll Externally: We'll recruit
collaborate with
Somewhat rigorous, founders
Not rigorous withatideas
all. We
*with general
Phase guidelines
1: Idea *know
Phase where we want to
1: Idea
Sourcing
Big market& Validation Sourcing
Very little competition We already know It fits into our strategic
1-3 months of customer We built an AI tool that When something about
one of the
us thinks plan
Executive
discovery & research does the validation for it's a good idea
We'll do initial validation We'll validate one idea We'll always try and we'll stakeholders bless the
when we have
* Solution ideas (not at a time, and
* Identified ICPgo (Ideal validate X to (or
* Big market Y ideas
doesn't
validated)
We Client Profile) matter?)
workdon't really care but
to contractors,
about
manage it metric or
this Case by case basis We do some of the
No Maybe / It depends work inhouse, some of
Target: 6 months Target: 9 months Target: 1 year We're flexible on how
No, we'll continue to long it takes for a
iterate until we figure it
* Technical (i.e. dev, * Marketing (define this; * Admin (i.e. legal, * Domain expertise /
infrastructure/devops,
* Technical platform i.e. advertising,
* Automated tools accounting, back for
* Access to tools office, knowledge
* Access to business
(i.e. AWS,customers,
* Existing Azure, etc.) we've
* Mentor built to
network research
* Investor(i.e. CB
network units / internal domain
users and creation
* Content partners(text, ** Industry
PR & earnedexpertmedia * Paid media * Events (local/in-
audio, video?)
Time-boxed (3, 6, 9, 12 * Become
When a thought
a business unit is When the venture is person,
We'll virtual?)
play it by ear and
months?)
We anticipate a small ready
We to take on the spun-out from the see how it goes
unit anticipate 50%
and then check in
percentage
We'll continueof failures
to help failure rate
periodically while in the We'll sit on the board No help at all, they're
with execution,
* Lawyer if need * Marketers (i.e. and provide advisory + on their own now
* Accountant strategy, content/SEO,
 $500,000 - $1,000,000 $1,000,000 - $2,000,000 - $4,000,000+
Ventures will have to $2,000,000 $4,000,000
pitch for the
Ventures willright
use Ventures will use
shared builder
Studio employees get shared administration
Studio employees get Studio employees get Another structure (i.e.
options in thetostudio
No, we want keep equity
We're not opposed to options in each startup trust model, etc.)
in each startup
them in the studio
* Outsource legal, this, but we don't
* Outsource marketing
accounting, (i.e. advertising,
We recruit the EIR once We recruit the EIR We recruit the EIR
we'veexperienced
Only validated the once time
First the MVP is built High-performers
founders before any validation
from Founders need to be
founders that
* Personality and/orhave built * Working sessions, within
* Mini-project / challengeable
the organization to invest their
* Background checks
psychometric testing
* Builder (capable of (or brainstorming
* Coachable sessions, * Great at sales * Reference
* Openminded checks
building; dev/design?)
We only work with 2 * Self-disciplined
We'll work with solo * Great at raising capital * Determined
founder
Yes, butteams
they might(at least)
not founders
No, we leaveand itfounder
up to
need
Job postings (through Outbound - I'll identify if 3rd party recruiter
(or want) one and the founder to decide Events
LinkedIn, Indeed,
No - we won't accept etc.) and reach out to
applications
Countrywideopenly, (i.e. Continent wide (i.e. Globally
anywhere in the
EIR joins our studio U.S anywhere in
EIR joins when a North
re spinning startups out, but evenstartup
first, pre-incorporation is created
if you're not, go and
through them anyway)
Midway - we've When the startup is
validated the problem ready to launch (MVP
$50,000-$100,000 $200,000-$300,000 $500,000 $1,000,000
Venture studio has
capital
SAFE Convertible debt Priced round
Studio takes X% in
preferred
Yes we'reshares
concerned, No we're not concerned No we're not concerned
but
* We want the to focus * We want the
we're going because
* We want we're
the funding
founder(s) to own
No, but ideally there are founder(s) to own
No, but ideally there founder(s) to own <
Yes, at incorporation Yes, at launch (or
co-investors at are co-investors
No, after incorporation Yes, we'll invest up toat when a startup is
we
No,will
we not putprovide
won't any the Series A (or
Maybe
bridge
We won'trounds
sit on the We won't sit on the
board,
Profitable businesses board
but we'll have 1 We're or have -asome
flexible board
that do not
* Startup require
launch = Pre- startups
* Startupmight take the
graduation = * Startup scale (post
seed or Seed Seed or Seed+
ecifically relevant to non-corporate venture studios, but you venture studio,
should review them)
$2,000,000 $4,000,000 $5,000,000 $10,000,000
1 year 2 years 3 years 4+ years
The fund economics Fund invests at: Fund invests alongside Fund criteria:
are:
Targeting better returns the holdco/inc or is the
than VC
We're funds
a big fan of We're not a fan of early
secondaries, starting at exits or secondaries,
 Jul 2, 2024

OPTION F OPTION G
Accelerate learning Train employees on
(of new markets, new, innovative

X per year

* Fundraising
(coaching,
* Access tosupport,
customers, data or * Potential
acquirers
Social media

More than $1M

Yes, the founder(s)

needs to invest at