Intelligence is becoming the world’s most important input. We invest across every layer of how it’s produced, delivered, and put to work, with a preference for companies that own a chokepoint.

Vertical Intelligence. The Bloomberg Terminal for X: proprietary data moats at the transaction point of massive regulated industries. A few examples in our portfolio: HData (energy), Kara (private markets), Taiyo (construction), ProdE (software creation), Downstream (construction), Mamenta (global trade), and Hark (personal AI). This is where our operating DNA, scaling data platforms from early stage to IPO, earns its keep.

Compute & Frontier Models. The engines of the era. We made the most credible silicon bets beyond NVIDIA: Cerebras (training scale) and Groq (inference speed), alongside frontier labs Anthropic and xAI, with Perplexity as the consumer distribution layer.

Physical & Orbital Infrastructure. AI’s next constraints are made of atoms: energy, launch, sensors, and labor. SpaceX, Figure (humanoid robotics), Starcloud (data centers in space), and Xplore (orbital sensing and edge compute) are solving them.

And finally, our favorite emerging investments: Founder Bets.

Roughly 80% of the portfolio is concentrated conviction; the rest is people. Exceptional founders solving real, everyday problems in women’s health, consumer brands, education, and sustainable commerce. Some of these amazing companies include Frances Valentine, Yoni.Fit, Muu, Tinge, Glamhive, To The Market, SmartStall, and Flux Hybrids.