Approach
The principles we hold to, and how we work with the businesses we back.
Four things that do not move
Long horizons
We are not buying to sell. Nothing the group does is measured in quarters, and nothing is designed around an exit.
Operator-led
Every business the group backs is run day to day by the person who owns their part of it. The group does not manage businesses from a distance.
Written down
Decisions, terms and reporting are documented before money moves, not after. If it is not written down, it has not been agreed.
Inside capital
The group funds what it can fund itself. That keeps its decisions its own, and keeps it answerable only to the people inside it.
Three steps, in order
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01
Understand
We look at businesses we understand, run by people we know can run them. We would rather pass on a good business we do not understand than back one we cannot judge.
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02
Agree
We agree the terms in writing before any money moves: what is being funded, what is expected in return, and how the business will report.
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03
Stay
We stay in the reporting line for as long as we hold the business. That means a monthly figure and an honest conversation, not a boardroom performance.
What we do not do
- We do not take deposits or investments from the public.
- We do not trade listed shares for short-term gain.
- We do not back businesses we do not understand.
- We do not manage money on behalf of anyone else.
How we govern ourselves
Every decision is minuted. Every payment the group makes needs two signatures. The records are kept so that anyone inside the group can check any of them, at any time.