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Management
- Repeat successful entrepreneur
- Proven business builder
- Sales leadership
- Domain expertise
Industry focus
- Technology: IT, software, SaaS, internet, business services
- Healthcare: healthcare IT, healthcare services, medical devices, diagnostics
- Other sectors considered on a case by case basis
Business Model
- Repeatable sales model and recurring revenue
- Product versus project based revenue models
- Proven market size in excess of $500MM
- Innovation versus incremental step change improvements
Geography
- Mid-Atlantic region, which we broadly define as Washington, D.C., to New York to Pittsburgh
- Other regions considered on a case by case basis
Stage
- Our investments typically have trailing 12 month revenues of $500K - $1.5MM
- We seek strong evidence of market traction, such as revenue, pilot customers, partnerships or license agreements, etc.
Deal Size and Structure
- We invest $750K - $1.5MM initially and reserve 2-3x initial invested capital for follow-on rounds
- We prefer to invest in the Series A round or the first institutional round
- We typically lead or co-lead the round
- We prefer companies that require $5-10MM or less of equity capital to achieve cash flow break-even or exit
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