How we invest
What are your criteria?
We invest in pre-seed and seed stage companies. We are looking for exceptional founders with a depth of insight into a problem that uniquely positions them to build game-changing outcomes. We’re looking for teams who believe they can genuinely change the way the world works with their technology, and build a £1B+ company. You do not need a product or revenue yet, or a perfectly polished pitch deck. We want to meet you as early as possible on your journey!and we don’t require any specific metrics. Before getting in touch, please read our post on ‘7 reasons why founders shouldn’t talk to Kindred’.
What does your process look like?
The Kindred team takes ~600 first meetings a year, typically conversations to get to know you rather than a formal pitch. Around 100 teams get to the second stage of our process, which is to meet 1-3 other Kindred partners. Our final stage (apart from due diligence that runs in parallel), which is unique to Kindred, is to have a Working Session between our team and the startup’s team, spending 60-90 mins discussing some aspect of the business that the founders would like input on. It’s an opportunity for all of us to see how well we work together, and whether we believe we are the best partnership, where the sum is worth more than the individual parts. In terms of timeline, the fastest we’ve run that end to end process is 72 hours! We like to say we work ‘on entrepreneur speed’ as we know the most valuable thing founders have is their time.
What do our investments look like?
We typically lead or co-lead rounds. Our average first cheque is between £0.5 - £1.5M and we reserve ~50% of the fund for follow on investments. We are high-conviction, high-concentration investors. That means we aren’t the most prolific investor - we don’t spread our bets across 50 companies in a portfolio, but rather will have 25-30 companies per fund where we are all-in. We don’t view the seed round as an opportunity to buy an ‘option’ to participate in a later stage round; it’s our bread-and-butter. It’s all that we do. Every single pre-seed or seed investment is incredibly meaningful to us, and we show-up accordingly. We believe transparency and trust are at the center of every meaningful relationship, so we have published our seed stage term sheet so you can read our standard terms.
What sectors do you invest in?
We invest in tech companies across all sectors. Our current portfolio includes fintech, biotech, healthtech, edtech, cybersecurity, proptech, HR tech, enterprise SaaS, legal tech, mobility, robotics, circular economy, and the future of work.
We have invested in software, hardware, marketplaces and deep tech businesses. And we are interested in both consumer as well as B2B focused businesses.
Where do you invest?
Much of our portfolio is headquartered in the UK, across London, Cambridge, Oxford, Bristol, Nottingham and some fully remote teams. We also invest in broader European markets as well as Israel.