Original Capital

In a time of drastic change it is the learners who inherit the future. The learned usually find themselves equipped to live in a world that no longer exists.

— Eric Hoffer, 1973

The world

Over the next decade we will move up the Kardashev scale. In some fields we are compounding at 5x a year: one year of 2027 will hold 3,125 years of 2022 in speed and intelligence. Recursive self-improvement is very near. Millennium problems have been solved in 88 hours. The world is asymmetric.

We may have to “choose to die”. Humans will be a small fraction of the world's intelligence. The jagged frontier of science will be smoothed and pushed outward. All of it needs doing, and eight billion people need to come with us.

As code, intelligence and skills become abundant, other forms of value rise in their place. R&D needs a physical harness: ideas now arrive faster than they can be built and tested, and fabrication is the bottleneck.

What an amazing time to be alive, and an insane one to be in technology. We are in our prime, building for the new world.

Founders

We invest in Original founders: people with the knowledge and depth to hold an original view of the world. Some are commercial scientists carrying a result from the lab into a market. Some are dreamers with a precise, unreasonable picture of the future. Some have lived something that gives them a view nobody else has.

Courage, a chip on the shoulder, a deep desire to see the world change, and the ability to compound are required.

Companies

Some truths hold. Cheaper, faster and better is still the core of adoption, and of product.

Ambitious companies are moving from bits to atoms and beginning to look like heavy industry.

How we invest

We invest early, usually as the first check, and write $500k to $5M.

From there our job is to make founders more ambitious. Historically that has meant helping them raise from S-tier investors. As companies move from bits to atoms, it increasingly means capital formation for heavy industry.

Team

  • , Partner. Previously Insight Partners, then Chief Strategy Officer at Carta as it grew from under $5M to over $100M ARR. Early investor in Ramp, Aven, Front, Qualia and Instabase.

  • , Partner. Previously Meta (Core Ads, Libra), then Head of Product at FTX, where he also led FTX Ventures and backed Anthropic, Cursor and Solana.

  • , Venture Partner. CEO and co-founder of BRM Software. Previously Summit Partners, RelateIQ, Sourcegraph and Carta.

  • , Venture Partner. Founder of Blockit. Previously Sequoia Capital and Insight Partners.

  • , Venture Partner. Runs finance at the firm. Previously Index Ventures, Carta and HarbourVest.

Portfolio

19 companies

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* Companies from our professional and personal portfolios