What does that mean?
At Main Sequence Ventures we say we back deep-tech founders inventing tomorrow.
Why is this important?
A startup operates under conditions of extreme entropy. Unless effort is applied, the natural path of the business will be return to a state of not existing. It is founders that stop this happening. Not investors, not employees, not boards. Founders.
For me, a founder:
Has an unreasonable belief that the business they imagine can materialise.
Was there at the start. They are a part of the origin story. Somehow they are personally entangled with the company they are building.
Has lots of equity in the company so that they stay focused when all they want to do is give up. There should still be enough to motivate them after a few rounds of investment.
Is taking some kind of risk to make this company happen.
Can decide. Does not need to ask permission.
As our fund comes to life, I plan to think-out-loud.
I reserve the right to change my mind as I learn new things. :)