We invest between £250k and £2m, with a target ownership stake of 10-20% for lead cheques and 5-10% for follower cheques.
Our process involves a short intro meeting with one of our investment team, followed by 1-3 additional meetings with the remaining members of our IC. We meet several times a week and make fast decisions, usually within a fortnight but often much sooner (as little as two days). We'll aim to carry out DD and references alongside these meetings.
Our preference as a fund is to lead your round with a cheque of up to £2m and take a 10-20% stake in the process. If we see an exciting opportunity to co-invest and fill the remainder of a round that already has a lead, we consider follower cheques up to £1m in size.
Predominantly UK, although we have small capacity to invest in non-UK companies with US TopCos.
Please use the “Submit your Deck” option on our website for cold pitch submissions.
We are often (but not always) the first institutional money into your company, investing at the seed and pre-seed stages.
We are a B2B software fund with a strong focus on defensible software solutions solving big problems in large markets. Within the B2B SaaS space we are a generalist fund and vertical-agnostic.
At Episode 1 we are specialists in the seed to Series-A journey, and use every tool at our disposal to maximise your chances of securing a strong Series-A round. Our assistance covers customer introductions, investor introductions, GTM advice, hiring advice/introductions, access to our portfolio companies and founder network, as well as a direct line of communication with members of our investment team.
Historically we have tended to avoid B2C and hardware businesses, although there are exceptions…
We invest in 10-12 companies per year.
Our preference is to take our pro-rata in rounds up to and including your Series-A. We don’t usually follow-on beyond Series-A.