FAQ
Questions for the firm
Founders ask these most. If yours is not here, ask it when you pitch the firm.
The firm
What stage do you invest in?
Pre-seed, and companies earlier than that. If the round already has a name and a lead, we are late.
Do you write the first check?
Yes. W² is built for companies that have not taken an institutional check yet. If you have raised from friends, family, or no one, that is the right stage.
What does W² look for?
A founder close to the problem, something already in use or a clear reason it will be within months, a market that is becoming larger, and a company where the first check changes what can be built.
Which sectors?
The firm is not organized around a sector. The companies in the partnership span software, consumer, housing, and workplace products. The founder and the moment matter more than the category.
Where do you invest?
Anywhere in the United States. The six months after the check work best when the founders can be in the room with the firm regularly, and the acceleration program is in person.
How many companies do you back?
A few at a time, on purpose. The firm keeps the list short so that every company gets the firm's time, not a slice of it.
The check
How big is the first check?
It is sized for the company: what the next six months need, and what the company can put to work. There is no fixed amount. The firm sets it with the founders during diligence.
What instrument do you use?
A post-money SAFE with a valuation cap set for the company. The cap is drafted after diligence, and the firm shares its reasoning with the founders.
How is the valuation cap decided?
From the company: the team, what is already in use, the market, and what the check needs to accomplish. It is a conversation, not a formula handed down.
Does W² take a board seat?
In the acceleration program the firm takes a board observer and board advisor role for the three months. At the first check the firm takes an information right and a pro rata right, and earns its influence by being in the company every week. A board seat is decided company by company; the firm may take one, or may not.
Will W² invest in the next round?
The firm holds a pro rata right and uses it when the company is accelerating. The next round is led by a new investor, with the firm in the room to help it happen.
Are there fees?
No. The firm does not charge founders for the six months, the program, or the introductions. The check is the whole relationship.
The process
How do I pitch?
Send the company, the founders, a deck, and the formation papers through the pitch form. If you have numbers, bring them. Every application is read by the firm and answered.
How fast is a decision?
The firm answers every application. A yes to a conversation comes within a couple of weeks; a yes to a check follows a short diligence period with terms drafted for the company.
What happens in diligence?
A short checklist: formation documents, cap table, the product in use, a few customer conversations, and a simple model. The firm runs it with the founders rather than at them, and the data room templates are shared in advance.
Do I need a warm introduction?
No. The pitch form is the front door, and it is read the same way whether or not someone sent you.
Can I pitch again after a no?
Yes. A no is about the moment, not the founder. Come back when the company has moved; the firm will say what it would want to see.
After the check
What are the six months?
The half year after the check, spent inside the company with one job: make it grow exponentially. A weekly working session that never skips, one growth number the whole company watches and doubles on a schedule, hiring ahead of demand, multiplying the customers, and a next round raised from strength.
Is the six-month program required?
No. Every company gets the firm's time. Founders who want the structured version opt into the program when they apply or any time after.
Who from the firm is in the company?
A partner who knows the company, in the weekly session, and the firm's operators, designers, recruiters, and counsel in the work as it needs them.
What does the firm expect in return?
Honesty about the number, a session that does not get skipped, and the willingness to be pushed. The company stays the founders' company.
Acceleration
What is the acceleration program?
Zero to one in three months. Twelve weeks inside W², full time, taking a company from an idea and a team to something in use, with everything the firm has provided. Finish, and the company is eligible for the first check.
Who is it for?
Founders at pre-seed or earlier with no institutional check, nothing in use yet, and the ability to commit the company full time for twelve weeks.
Does finishing mean W² invests?
Finishing means the company is eligible for the firm's first check and goes straight into the firm's decision process, with terms drafted for the company. The decision is still made by the partners after the final review.
What are the terms of the program?
W² takes 4% of the company for the three months and sits with the company as board observer and board advisor, among other terms set out in the program agreement when the company joins. There is no cash fee; the firm's space, people, counsel, and network are provided for the twelve weeks.
Does the 4% change at the first check?
No. The program stake is separate from the check. If the firm invests after the program, the check is priced on its own terms, with a valuation cap set for the company.
How is it different from the six months?
Acceleration comes before the check and is zero to one. The six months come after the check and are about growing exponentially from there.