August 2026Web3
What a first cheque should buy in 2026
Pre-seed pricing has normalised, but distribution has not. Where early ownership still compounds.
Our Blog
Research notes, market observations and lessons from working alongside founders at the earliest stage.
July 2026AI
Vertical models beat general tools at the edges
Notes from a year of applied-AI diligence: the datasets that matter are usually boring and contractual.
June 2026Biotech
Translational science in a capital-light decade
Smaller teams reaching first in-human faster — and what that means for pre-seed structures.
May 2026Funds
Backing emerging managers without backing benchmarks
How we underwrite a first-time GP when there is no track record to lean on.
April 2026Firm
Five offices, one investment committee
Why we keep sourcing local and decisions central, from Singapore to Atherton to London.