A good indication of a Classic Ventures deal, in order of importance. Typically this list is non-negotiable, as the criteria is quite broad and open to the team's interpretation.
Diverse founding team - any underrepresented or under-resourced groups.
Impactful cause - a reason to believe that the success of the startup improves / benefits / empowers / enables a group of people in some meaningful way.
- Indirectly, this also implies that the product should be designed for the masses - not the 1% (in any regard).
- DTC / B2C / P2P models are preferred, B2B2C models are considered, and we rarely do B2B models.
Best-in-category product - a reason to believe that, for a problem / market we agree upon, the proposed solution is the most effective one possible in the present and near future.
Founder-market fit - a reason to believe that the founders are the people to make this happen. Any sort of unfair advantages count, including drive & passion.
Product-market fit - a reason to believe that product-market fit has been found, not engineered (we love organic traction). We love sexy numbers, but no non-negotiable targets for revenue/growth.
Tight-knit community - not just an audience, but brands that are actively developing a relationship with consumers, have loyal/vocal advocates, people who hang out with the brand online, etc.
Unfair advantage - defendability built into the business model somewhere, and can be maintained with scale. Preferably in tech, supply chain, partnerships, or distribution.
Brand-forward - understands the importance and role that branding plays in today's world.
International expansion in consideration
- it is our belief that the US market alone is no longer enough to build a cult-classic brand. Given that 9 out of 10 GenZers live in emerging markets
, it is reasonable to adapt our current playbook and prepare for the future.
Unlikely to compete with our other portfolio companies.
reasons to be excited.
Things that bias us for or against investing