We have meaningful domain expertise and deep experience as investors in three core sectors:

Software & Services

We invest in a broad range of enterprise software and services sectors, including vertical market applications, horizontal and infrastructure applications, information services, and the Internet-of-Things.


We invest in a variety of commerce business models, including direct-to-consumer brands, multi-brand platforms, and marketplaces for both consumers and businesses.


We invest in media businesses with unique and scalable content creation or content distribution models.


We are long-term investors with a flexible approach to the structure and stage of our investments:

We are highly selective in our investment decision making, and make only a handful of new investments each year.

We typically invest in companies that are generating revenue with attractive margins and/or unit economics and capital-efficient business models.

We are prepared to invest $5 million to $30 million of capital in each investment and expect to own a meaningful minority equity stake in each of our portfolio companies.

We primarily invest in companies based in North America, but will occasionally back businesses based in Europe and Asia.

We are active partners in building value and look to leverage our resources and our relationship with Advance Publications and its business units to build market leaders.



San Francisco

170 Grant Avenue, 4th Floor
San Francisco, CA 94108

New York

One World Trade Center, 43rd Floor
New York, NY 10007

Contact The Team