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FoundersCapital PartnersVCs & Advisors
Investment Strategy

A defined segment, rigorously underwritten

We occupy the structural segment large credit platforms have abandoned: €1–3M senior-secured growth credit to Late-Seed and Series A B2B technology companies across Europe.

01 Investment Thesis02 The €1–3M Gap03 Risk Framework
Investment Thesis

Three principles.
Applied to every deal.

01
Investment Focus

Late-Seed to Series A B2B technology companies across Europe, typically between €2M and €7M of stable revenues.

02
Senior-secured only

Facility structured as a senior-secured term loan with first lien on borrower assets and warrant coverage.

03
Revenue-first underwriting

Must demonstrate repeatable B2B revenue; disciplined economics and a credible path to cash flow breakeven. Venture backing can reinforce conviction, but not a prerequisite.

The €1–3M Gap

Growth lenders need large tickets. We don't.

A €200M credit vehicle needs to deploy €10–30M per deal to operate efficiently. That math eliminates the €1–3M segment entirely. Banks won't lend below €5M. VCs price runway extension at 15–25% dilution. The €1–3M segment is structurally orphaned.

Capital availability by ticket size
Commercial Banks
Not available to pre-profitability tech
GrowthPath
GPI
Our segment: €1M to €3M
Mid-size credit platforms
€5M–20M. Minimum ticket too large
Large credit vehicles
€20M–100M. Require proven profitability
€0€5M€25M€50M€100M+
Risk Framework

Underwriting framework

Revenue quality
Recurring or contracted B2B revenue supported by customer cohort performance and predictable customer behavior.
Unit economics
LTV/CAC above 2.5x with scalable customer acquisition and defensible contribution margins.
Equity support
Venture backing can reinforce conviction, but commercial performance matters more. Clear visibility toward the next equity round within 18 months.
Use of proceeds
Runway extension, hiring into revenue-generating roles, geographic expansion, and opportunistic M&A or acqui-hire, with potential to defer the next equity financing.

Excludes pivot, refinancing, or secondary, and funding of legacy losses.
Exit visibility
A credible path to next equity round within 18 months, or to cash-flow breakeven, whichever comes first.
Management
Founders with prior operating experience or a CFO/COO with institutional finance background.
Governance
Regular KPI and financial reporting to investors.

Clean audit trail and financial discipline.
Jurisdiction
Incorporated in EU, EEA, or UK. Primary operations in Europe.

No offshore holding structures without disclosure.