A Little Capital in the Right Places Can Move Whole Systems Forward

In complex industries, a small number of bottlenecks decide where value accumulates and where progress stalls.

We find those constraints and invest in startups positioned to resolve them.

01 /

THE PROBLEM

The bottlenecks that matter most are often hard to find

There's no shortage of capital. There's no shortage of important problems. The hard part is knowing where a little capital solves the biggest problems.

The constraints that matter most can sit upstream of symptoms, hide inside processes nobody is paying much attention to, and shift before anyone notices.

02 /

THE RESEARCH

Understanding a market means going much deeper than the market itself

We deconstruct systems into the technologies, capabilities, infrastructure, institutions and other dependencies they rely on, then analyze how those pieces interact and change over time.

That's where hidden bottlenecks often become visible.

03 /

HOW WE WORK

Deconstruct the system. Find the bottlenecks. Deploy capital to clear them.

Since 2006

The research began at Intel and Harvard, and has evolved ever since.

Today

The discoveries continue, with each new market adding to what we've learned about how companies, markets and social systems behave.

How we use it

We use what we’ve learned to find opportunities others may overlook, from investments in individual companies to bottlenecks affecting entire industries. Our work brings us into collaboration with leading companies, research institutions and specialists across a remarkable range of scientific and technical disciplines.

04 / SECTORS

Where we've deployed capital.

AGRITECH

Investments across crop science, biological inputs, and the systems that connect them to growers.

DIAGNOSTICS

Investments in the infrastructure of clinical testing, at-home care, and the data layer underneath both.

MULTI-INDUSTRY

Direct investments where bottlenecks cross sector lines. Electric vehicles, energy efficiency, virtual healthcare, neurology, and other emerging fields.

05 / RECENT ACTIVITY