Thesis
AI-Native Proptech.
The built world runs on paper, phone calls, and humans translating messy reality into rigid systems. We seek founders who build AI that absorbs the bureaucracy, creating slack operators can reinvest in work that compounds.
Investment Thesis
Decades of paperwork surface area. AI finally has leverage.
Vertical AI Captures Value
The proptech industry's historical weakness, fragmentation, paper-based workflows, unstructured data, is now the strategic moat for AI-native companies. For decades, software asked humans to become adapters between messy reality and rigid systems. AI absorbs that translation layer, freeing operators for judgment and relationships.
Training Data, Not Technical Debt
Decades of inspection photos, scanned change orders, and email trails aren't liabilities; they're training data. We fund founders who see messy data not as a bug, but as the primary feature of their competitive advantage.
What We Back
The product creates slack, not just speed. If it spins the same hamster wheel faster, we're not interested.
AI-Native Architecture
We back software that couldn't exist without machine learning: systems that ingest unstructured inputs (photos, voice, documents) and output actionable decisions. RAG pipelines, fine-tuned embeddings, inference optimization at scale.
Proptech Exclusive
Home services, trades, real estate, exclusively. We don't chase horizontal plays. Vertical focus compounds: regulatory knowledge, distribution channels, integration partnerships, and domain-specific training data.
Operator-First Design
Mobile interfaces for technicians who can't afford fifteen-minute onboarding flows. Edge deployment for job sites without reliable connectivity. Systems that work with how operators actually operate.
Capital Efficiency
Founders who prove unit economics in one metro before burning cash across ten. Land-and-expand GTM that builds reference density. Burn multiples under 2x and CAC payback under 18 months.
Where We Invest
AI-native solutions across the proptech value chain, from first customer call to final transaction closing.
Home Services
HVAC, plumbing, electrical, cleaning. 30% no-show rates, dispatchers ignoring drive time, seasonal spikes that break scheduling. The opportunity: dynamic routing, predictive staffing, automated rebooking.
General Contractors
Cash-flow friction between GCs and subs. Change orders buried in email. Payment applications that take days. The opportunity: real-time payment workflows, automated documentation that accelerates cash cycles.
Specialty Trades
Roofers, painters, landscapers. Estimates done from memory. Margin variance discovered at tax time. The opportunity: photo-based estimation, labor optimization, real-time job costing.
Real Estate
Agents can't prove which marketing dollar converted. Transactions involve 18+ parties on email chains. The opportunity: unified lead scoring, automated listing syndication, intelligent transaction coordination.
Title & Escrow
Compliance is manual checklists. Wire fraud costs $350M annually. The opportunity: automated document generation, preemptive defect flagging, verified identity layers and fraud detection.
Property Management
Rent analysis is spreadsheet gymnastics. Maintenance is reactive: fix what's broken. The opportunity: dynamic pricing, predictive maintenance, standardized screening automation.
Founder Profile
Domain depth over pedigree. Your unfair advantage is pattern recognition that outsiders can't replicate.
What We Look For
Founders who understand why a plumber's Tuesday looks different from a roofer's, and who've built their product around that insight. Ride-alongs, job shadowing, customer discovery that goes beyond surveys. Technical depth to architect systems that scale.
How We Work Together
We're not a platform with a bench of analysts. What we offer: a direct line to debate your GTM wedge, challenge your unit economics assumptions, and dig into your system architecture. First call, not filtered through associates.
How We Work
Conviction, not consensus. No investment committee, no partner meetings, no weeks of "circling back."
Your unique take on the market. Why this problem, why now. We'll be direct about whether it fits our thesis.
Product, GTM, unit economics. We ask operator questions: customer acquisition, workflow integration, what breaks at scale.
Clear yes or no with reasoning. If we invest, founder-friendly terms with no hidden provisions.