There is nothing to raise and nothing to pitch for yet

Why there is no form

Two reasons, and both are about not wasting anybody’s time.

Founders send a deck expecting a decision, and there is no capital to decide with yet. People send investment enquiries expecting an opportunity, and there is nothing open. A form would produce both, and both would get the same disappointing answer.

What the waitlist will be for

One field, an email address. One kind of message: that something in the portfolio has launched, or that the first external investment has closed, or that the thesis has changed and here is why.

What we would genuinely like to hear

Arguments against the thesis. The strongest correspondence a page like this could receive is somebody explaining why sovereignty is a niche preference rather than a repricing, or why the studio model produces worse companies than a fund would. That is more useful right now than interest from anyone wanting to participate.

In the meantime

The blog carries the reasoning: why we only back companies their customers could leave, what sovereignty means once you take the politics out, why a venture studio is an admission rather than a strategy, which open-source business models actually work, and what would have to happen for us to conclude the whole thesis was wrong. The newer posts are more practical: how to rehearse an exit, who should hold the root credentials, what an AI vendor tends to keep, and why lock-in is so often a financing decision.