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Anthifel
TR
Early stage companies · No fee

PartnerEquity instead of a fee, for early stage companies

We charge no fee to early stage companies. We come in as a shareholder and, with the same scope as Transformation, do whatever the company needs.

Tell us what you are building →

At a glance

Who forEarly stage companies that meet the six conditions
FeeNone
In returnEquity. The share is discussed in the conversation, with a figure.
ScopeThe same as Transformation. Not advice from a distance.
TermsEquity, duration and vesting are written into the agreement.
StartFrom day one. Discovery is not required first.

Six conditions

All six must hold.

  1. There is revenue. Not the idea stage: money is coming in. For the idea stage we are not the right people.
  2. The founders are full time. A company with a part-time founder cannot be made profitable from outside.
  3. The cap table has room. Joining as the fifth adviser on 0.25% wastes both sides' time.
  4. The problem is operational. If the hard part is unproven deep technology, this work does not reach it.
  5. There is trust. We have worked together before, or someone we both trust introduced us. Work paid in equity runs on trust, not on a contract.
  6. You want someone in the room. Not a document: a person inside the work.

If the conditions do not hold

If your company is not early stage, every engagement starts with Discovery →

Tell us what you are building. In 30 minutes we will look together at whether the conditions hold.

Tell us what you are building →
The reading list

One piece of writing a month.

Once a month we write about what we see inside companies, and that writing is for the people who make the decision. There are no product announcements, and there is never a newsletter about the newsletter.

Unsubscribe in one click. We never share the list.