§ Sectors
Where we deploy capital.
We are generalists by temperament and specialists by accumulation. Over time, conviction has clustered in eight sectors where we believe the next quarter-century will be written.
i.
Artificial Intelligence
The defining infrastructure of the coming decade. We back foundational research labs, inference and training infrastructure, and the small number of application-layer companies whose moats will compound as the underlying models improve.
7
holdings
ii.
Biotechnology & Health
From brain-computer interfaces to mental-health pharmacology to longevity science. We focus on platforms with durable clinical and regulatory advantages — and on operators with the patience to do real biology.
3
holdings
iii.
Aerospace & Defense
The renewal of an industry that had calcified for forty years. We invest in launch, satellite, and dual-use platforms whose underlying physics make them genuinely difficult to replicate.
7
holdings
iv.
Energy & Climate
Generation, storage, and the industrial decarbonization stack. We prefer hard-tech with clear unit economics over carbon-credit financial engineering, and operators with the patience for long capital cycles.
5
holdings
v.
Financial Infrastructure
The plumbing of the modern capital stack: ownership ledgers, payments, public-market access, and the legal infrastructure that makes private markets work. Boring on the surface; deeply moaty when done well.
5
holdings
vi.
Consumer & Brand
Heritage brands and consumer platforms with structural cultural advantage. We are drawn to founders who treat brand as a multi-decade asset rather than a marketing line item.
4
holdings
vii.
Real Estate
Selectively, in markets we know intimately. We treat real estate as a generational asset class, not a transactional one, and partner with operators who think the same way.
3
holdings
viii.
Funds & Co-Investments
We anchor a small number of conviction-led funds and back generalist managers whose worldview overlaps with ours. These relationships often surface our highest-conviction direct opportunities.
8
holdings