Venture Partnership
For a few businesses, we go all the way in.
A deeper execution partnership for a small number of high-potential businesses — commercialization, partnerships, market development and scale, carried as a working partner rather than an adviser.
What changes
Accountability, mostly.
In an advisory engagement we are accountable for the quality of the work. In a venture partnership we are accountable for the commercial outcome, which changes how we behave: we are in the pipeline reviews, in the partner negotiations, and on the calls that go badly.
It also changes who we can take on. This only works where we can commit real time, so the number of these running at once is deliberately small.
What it covers
Four areas, carried jointly.
The mix is set at the start and revisited as the business moves.
Commercialization
Offer, pricing, revenue pathways and the commercial model — built and then actually run against live customers.
Partnerships
Identifying, opening and structuring the partnerships that carry distribution, credibility or market access.
Market development
New segments and new geographies, validated before they are committed to, using the same discipline as Passport.
Scale
Turning what works into a system: channel depth, the commercial team, and the operating rhythm that keeps it honest.
Economics
Retainer-led, and case by case.
Engagements are retainer-led.
Where it is appropriate, and only where both sides want it, a portion of the economics can be linked to commercial success, or structured as equity. That is agreed per engagement against what is actually being carried — there is no standard percentage, and we do not publish one, because a number set in advance of the work would be either meaningless or misleading.
Terms are set in writing before any work begins. If the shape of the deal is the main thing you want to discuss, say so in your first message and we will start there.
Selection
What we look for.
- Something that already works commercially, even if only at small scale
- A market big enough that solving the commercial problem is worth the effort
- Founders who want a partner in the argument, not an agreeable adviser
- A problem we have genuinely seen before, or can see clearly enough to be useful on
Think this describes you?
Start with the business and the commercial problem. The partnership question comes after that, not before.