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Conviction is a Single Family Office established in 2017 by a venture capitalist recognized for leading the financing of Mimecast, a prominent SaaS company that was sold for $5.8 billion. The firm is headquartered in St. Peter Port, Guernsey, and operates as a multi-family office, supported by ultra-high net worth individuals and other family offices. Since its inception, Conviction has deployed over $100 million across more than 20 portfolio companies, focusing on early-stage investments in disruptive technology.
The firm has evolved to become a significant player in the B2B SaaS sector, emphasizing post-revenue, high-growth startups. Conviction's investment strategy includes direct investments and partnerships with like-minded Single Family Offices (SFOs) and Multi-Family Offices (MFOs), enhancing its reach and capabilities in the market. The firm is committed to holding positions for up to 15 years, providing follow-on capital every 12 to 18 months to support its portfolio companies.
Conviction's investment strategy centers on disruptive technology, particularly in the B2B SaaS sector. The firm primarily targets early-stage startups in the UK and Europe, focusing on pre-seed, seed, seed-plus (extension), and Series A funding rounds. Conviction emphasizes investments in post-revenue companies that demonstrate significant growth potential. The firm employs a long-hold conviction strategy, allowing it to maintain positions for up to 15 years while providing ongoing capital support.
In addition to direct investments, Conviction utilizes fund of funds strategies and collaborates with other family offices to enhance its investment capabilities. This collaborative approach not only broadens their investment reach but also allows for co-investment opportunities with other like-minded investors. The firm is particularly interested in companies that are poised for rapid growth and have a clear path to scalability.
Conviction has invested in over 20 portfolio companies, primarily focusing on B2B SaaS firms that exhibit strong growth potential. While specific company names are not disclosed, the firm’s portfolio reflects its commitment to supporting innovative technology solutions in the B2B space. The firm’s strategy includes providing follow-on capital and strategic guidance to its portfolio companies, ensuring they have the necessary resources to scale effectively.
Conviction's investment approach is characterized by a long-term perspective, allowing it to support companies through various growth stages. This includes feeding capital every 12 to 18 months, which is crucial for startups navigating the challenges of early growth. The firm’s focus on high-growth, post-revenue companies positions it well within the competitive landscape of B2B SaaS investments.
Founder: The firm was established by a venture capitalist known for financing Mimecast, which sold for $5.8 billion. Specific details about the founder's name and background are not disclosed.
To pitch Conviction, founders should use the contact form available on their website at conviction-vc.com. It is important to include a comprehensive pitch deck that outlines the business model, market opportunity, and financial projections. While specific response times are not mentioned, founders should expect a thorough review process.
In 2023, Conviction plans to make approximately six new investments in B2B SaaS startups, continuing its focus on early-stage companies in the UK and Europe. The firm remains active in the investment space, collaborating with other family offices to enhance its deal flow and investment capabilities.
What are Conviction's investment criteria?
Conviction primarily invests in early-stage B2B SaaS startups that are post-revenue and demonstrate significant growth potential. The firm focuses on pre-seed, seed, seed-plus, and Series A funding rounds.
How can founders apply or pitch to Conviction?
Founders can pitch to Conviction through their website at conviction-vc.com. It is advisable to include a detailed business plan and financial projections in the pitch deck.
What makes Conviction different from other investors?
Conviction's long-hold conviction strategy sets it apart, as it is willing to maintain investments for up to 15 years, providing follow-on capital every 12 to 18 months. This approach allows for deeper involvement in the growth of portfolio companies.
What is Conviction's geographic scope?
The firm primarily invests in the UK and Europe, focusing on early-stage technology startups within these regions.
What is the typical check size for investments?
While specific check sizes are not disclosed, Conviction's fund size of $100 million suggests that investments are likely substantial enough to support early-stage growth effectively.
What kind of post-investment involvement does Conviction have?
Conviction provides strategic guidance and follow-on capital to its portfolio companies, ensuring they have the necessary support to navigate their growth trajectories.
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