Automatic "No" Situations
We can't deviate from the basic parameters of our investment model. Any of the following conditions will trigger an automatic "No" from us.
· Coin/token offering or SAFT.
· A primary business model is crypto mining, issuing tokens, or minting NFTs
· Round size greater than $1M. (This is a hard limit. Our soft limit is $500K.)
· Minimum check size greater than $500K. (This is a hard limit. Our usual commitment is $150-300K.)
· Valuation/cap greater than $6M. (This is a hard limit. Our soft limit is $3M.)
· Previous outside investment greater than $500K total.
· Primary offering is at the idea, mockup, prototype, or pre-revenue MVP stage.
· No full time founders -- Even if they plan to become full time after funding.
(This is a hard limit. Even a single FT founder is usually a "No".)
· Company is not doing any real engineering of its own.
· Product/service is pure e-commerce sales, an e-sports league, or an e-sports team.
· Produce/service is related to legal "gray areas" like marijuana and real money gambling.
· Company is based in Central Europe, Eastern Europe, Russia, Middle East (except Israel), Africa, India, South Asia, China, Southeast Asia, or South America -- Even if the corporate entity is domiciled in the US. Even if the company intends to move its operations to a jurisdiction where we do invest.