How we partner with founders

"Founder friendly" is one of the laziest phrases in venture. Every firm claims it. Almost nobody defines it. Here's what it means at Xenith, in concrete terms.

Board seats are optional

Default mode is observer rights and a monthly call. If you want us on the board we'll show up prepared and never use the meeting to relitigate decisions.

Same-day replies for the portfolio

Inbound from a portfolio founder gets a reply that day. If we need 24 hours to think, that's the same-day reply.

No conflicts

If we've backed a company in your space we tell you in the first call. No exceptions. We don't let two of our founders find out about each other through a press release.

The unsexy work

Hiring your second engineer. Reviewing a first enterprise contract. Fixing a token vesting schedule the lawyer drafted wrong. None of this makes for a good tweet. All of it compounds.

Follow-on, with conviction

We reserve 1.5–2x for follow-ons. We exercise pro-rata when our conviction is high and the round is well priced. When it isn't, we say so and help you find a better lead. Pro-rata that doesn't earn its place dilutes everyone, including the founder.

Real no's

If we pass, you get a written reason within a week. If we change our minds six months later because the data turned, we tell you that too. A real "no" is more useful than a hopeful "let's stay in touch."