Est. 2018 · New York City

We back the people building what the next decade will depend on.

A concentrated venture firm on the Upper East Side. We lead seed and Series A rounds in fintech, identity, climate infrastructure, and vertical enterprise software — twelve to fifteen new investments a year.

View portfolio Read thesis
§ 01 / Portfolio

Companies we're backing.

A selection from the active book — twelve of twenty-two. Click any company to read about the investment.

01 / 12 · Active investment
Climate · Seed · 2022

ClimateTrade.

Settlement layer for the global voluntary carbon market — corporate buyers to verified offset suppliers, via a single API. Led the seed in 2022; participated through Series A in 2024.

Visit climatetrade.com
02 / 12 · Active investment
Identity · Series A · 2023

one37.

Decentralized identity verification rail used by financial institutions for KYC, document attestation, and continuous customer due diligence. Series A lead in 2023.

Visit one37id.com
03 / 12 · Active investment
Fintech · Seed · 2023

Right to Invest.

Compliance and capital-formation infrastructure for community banks and credit unions issuing private securities to their members. Seed lead.

Visit righttoinvest.com
04 / 12 · Active investment
Climate · Series A · 2024

Vault Kinetics.

Long-duration kinetic energy storage for grid-scale and remote installations — a mechanical alternative to chemical batteries. Series A lead in 2024.

Visit vaultkinetics.com
05 / 12 · Active investment
Enterprise · Seed · 2024

Elara.

Workflow software for immigration law firms — automating the document-heavy work that used to consume associates and slow case throughput.

Visit elaraimm.com
06 / 12 · Active investment
Identity · Series A · 2024

InPress.

Press-clipping and media-attestation infrastructure for in-house communications teams — tracks and verifies mentions across print, broadcast, and social.

Stealth
07 / 12 · Active investment
Enterprise · Series A · 2024

Quay.

Port-side acceleration software used by the largest container terminals on the US East Coast to reduce dwell time and re-handle costs.

Visit quay.co
08 / 12 · Active investment
Fintech · Seed · 2024

Company CUE.

Customer-onboarding pipeline for neobanks and fintechs — KYC, fraud review, and activation in one workspace.

Stealth
09 / 12 · Active investment
Fintech · Seed · 2024

Street Talk.

Conversational analytics for the buy-side — indexing what brokers, dealers, and clients actually say, with sentiment and topic modeling tuned to capital markets.

Stealth
10 / 12 · Active investment
Enterprise · Seed · 2023

Act Write Here.

Contract drafting and negotiation software for general counsel at mid-market companies — playbook-driven, precedent-aware, audit-ready.

Stealth
11 / 12 · Active investment
Enterprise · Seed · 2024

Valor Jobs.

Career marketplace connecting veterans and first responders to skilled-trade and construction employers across the US. Seed lead.

Visit valorjobs.com
12 / 12 · Active investment
Enterprise · Seed · 2025

Feed Collective.

Managed social infrastructure for independent creator brands — content operations, community, and monetization in one back-office.

Stealth
§ 02 / Thesis

What we believe is about to happen.

Four sectors that will define the next decade of institutional software and infrastructure. Each is deep enough to sustain a concentrated book; each has the kind of slow-compounding moat that rewards patient capital.

§ 02.1 · Fintech & Capital Markets

Rebuilding the financial plumbing.

A decade of fintech has rewired the consumer layer. The institutional layer — reconciliation, settlement, treasury, compliance, issuance — is still dominated by software new in 2004.

7 active investments
§ 02.2 · Identity & Trust

Verifiable, portable trust.

Synthetic-identity fraud, AI-generated content, and new cross-border compliance regimes are forcing every institution to rebuild its attestation layer. Whoever wins it becomes infrastructure.

5 active investments
§ 02.3 · Climate Infrastructure

Decarbonization is a financing problem.

The technology exists. What's missing is the permitting, risk-modeling, settlement, and financing infrastructure to move capital into grid-scale deployment at the pace required.

4 active investments
§ 02.4 · Vertical Enterprise

Software for a single trade.

Horizontal SaaS is saturated. Thousands of workflows in regulated, compliance-heavy trades still run on paper and twenty-year-old on-premise software. The firms that replace them become category-defining.

6 active investments
§ 03 / Exits

Companies that grew up.

Nine notable liquidity events since the firm was founded — acquisitions, public listings, and significant secondaries. A chronology, not a highlight reel.

2024 Q2

Cobalt Health

Care-coordination software for hospital systems. Listed on the NYSE at a $1.8B initial valuation. Seed lead in 2019; held through the post-IPO lock-up.

IPO · NYSE: COBT
2024 Q1

Palmer Lane

Reference-data infrastructure for fixed-income desks. Quietly acquired by Bloomberg's enterprise data unit. Seed (2020) and Series A (2022) participant.

Acquired by Bloomberg
2023 Q4

Mercator Atlas

Geospatial intelligence platform for state and municipal planning agencies. Acquired by Esri to anchor their public-sector suite. Series A lead in 2020.

Acquired by Esri
2022 Q4

Harbor Trust

Trust accounting and compliance software for private banks and family offices. Acquired by FIS in their wealth-platform consolidation. Seed and Series A participant.

Acquired by FIS
2022 Q2

Signet Identity

B2B identity verification platform. Partial exit via Tiger Global-led secondary at Series C. Firm continues to hold a meaningful position.

Secondary · Tiger Global recap
2022 Q1

Northpoint Insurance Tech

Underwriting workbench for specialty commercial insurance lines. Acquired by Marsh McLennan in February — the firm's first acquisition outcome.

Acquired by Marsh McLennan
2021 Q3

Vantage Markets Co.

Market-microstructure analytics for institutional trading desks. Acquired by Nasdaq's market-services group. Seed and Series A participant.

Acquired by Nasdaq
2021 Q2

Inkwell Press

Editorial and design workflow software for publishers and book imprints. Acquired by Adobe to extend their publishing tools. Seed lead in 2019.

Acquired by Adobe
2020 Q4

Atlas Data Group

Alternative-data brokerage for institutional buy-side research. Acquired during the IHS Markit / S&P consolidation. Seed lead in 2018.

Acquired by IHS Markit
§ 04 / The firm

Small on purpose. Long on patience.

One office, one decision-maker. The person who meets you at the first pitch is the person who sits in your board meetings at Series C. No regional principals, no associates routing your deck, no carry splits with a Silicon Valley parent.

We lead twelve to fifteen rounds a year and hold for the long arc — through Series B, secondary rounds, and public listings. A quarter of our invested capital is reserved for the companies we already know.

Carnegie Hill mansion — Upper East Side, New York
For Founders

If you're building something built to last — let's talk.

We read every inbound personally. A one-page summary, the deck, and a brief intro is enough. Typical response within five business days.

Pitch us