Because we invest our expertise as well as our money, we tend to keep our focus trained on the markets and opportunities we know best, from enterprise software to clean technology to consumer Internet and fabless semiconductors. That said, we are always intrigued by promising new ideas—in any industry—that can truly make a difference.
We prefer working with startups in their formative stages, and look especially for entrepreneurs with a clear sense of purpose and vision, and a clarity in communicating them. We also look for companies that have the greatest chance of making a difference: through market size, competitive advantage, potential financial return, and, not least, great teams: people who are intelligent, hard working, intellectually honest, open to ideas, self-aware, technically competent, and supremely confident.
Typically, we make an initial investment of $1 to $10 million and follow that by participating in each subsequent round of financing. As lead investors, we also are often asked to fill board seats, offering our own real-world experience at entrepreneurship, as well as access to the widest range of industry leaders, potential customers, prospective partners, world-class board members, and candidates for key management positions.