Making an investment decision is an inexact science and some say the earlier the investment the more inexact the science. However, there are still a number of key questions we ask in order to inform our decision:

• What problem are you solving?
• How does your solution and technology work? Is it innovative and difficult to replicate?
• Why is your team best positioned to build this company and why now?
• Who are your competitors or likely competitors? What are your competitive advantages and barriers to entry?
• How big is the market?
• How do you make money?
• What is your go-to-market strategy?
• Who will buy your company and for what reason?
• How much money are you raising and what are the questions you are looking to answer for your next investors?

We prefer technology-centric Internet start-ups but they can be across a variety of sectors.

• Consumer Internet
• Digital media
• eCommerce
• Games
• Mobile
• Online advertising
• Software as a service (SaaS)
• Web X.0

In some sectors we are less able to add value and thus are less interesting for us:

• Healthcare
• Green technology
• Hardware
• Original content businesses
• Service businesses

We use these criteria to determine if a start-up is a good fit for our fund:

• Funding stage: Seed- or early-stage. First or second money invested. Will lead or co-invest with Angel investors and other VCs.
• Investment: $250,000 to $750,000. Total round sizes up to $1,500,000. Participate in follow-on rounds.
• Funding mode: Preferred stock only. No convertible debt.
• Geography: Northeastern United States, preferably along the Boston to Washington, DC corridor.

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