01 / SIGNALS
Unproven edges
We will not back a venture whose main thesis is an unverified trading edge, spam volume, unsupported AI claims or an arbitrage that disappears at scale.
~/revuity/group / APPROACH
THE RULES WE PUBLISH.
A holding company is only as good as the rules it keeps when an opportunity looks exciting. These are ours, written down before any acquisition.
// the 100-point screen
Every candidate is scored,
and every candidate faces a veto.
Proposed proceed threshold: 75 of 100 points, with no veto. Opportunities come from recurring customer needs and operating friction, and enthusiasm for technology alone never qualifies one.
| Criterion | Weight | Evidence required |
|---|---|---|
| Demand durability | 25 | Paying users, churn and retention, replacement risk, contract quality |
| Unit economics and cash | 20 | Gross margin, contribution, working capital, realistic cash conversion |
| Capital efficiency | 20 | Validation cost, payback, required management and maintenance |
| Owner independence | 20 | Repeatable tasks, operator replaceability, measurable interventions |
| Risk and defensibility | 15 | Legal feasibility, data rights, competition, concentration, security |
VETO
Any one of these
ends the conversation.
A high score cannot outvote a veto. We would rather pass on a good opportunity than carry a risk we cannot fund or defend.
- An unlawful operating model
- Missing data rights
- Unverified ownership
- No credible demand
- No way to fund the downside
// what we will not do
Three exclusions
we hold ourselves to.
Written so that owners, founders and lenders can hold us to them as well.
02 / SAVINGS
Imaginary savings
An acquisition that needs forecast automation savings to cover existing debt or replace current staff is excluded.
03 / TERMS
Equity without terms
Equity-for-services work requires enforceable ownership terms, data access, termination protections and cost recovery, or we decline it.
// first 100 days after a permitted close
Protect, redesign,
then verify.
Changes are reversible, measured against a baseline, and owned by a named operator.
DAYS 0 TO 30
Protect
Stabilize customers, people, cash controls, quality and access. No indiscriminate staffing cuts.
DAYS 31 TO 60
Redesign
Map bottlenecks, rationalize systems, prioritize safe automations and record baselines.
DAYS 61 TO 100
Verify
Deploy reversible changes, compare results, audit permissions, appoint an operator and publish a KPI pack.
// how cash moves
Obligations first,
the parent last.
A proposed allocation order for every business we come to own.
01 / OBLIGATIONSPayroll, taxes, debt, customer obligations and operating cash reserves.
02 / SAFEGUARDSSecurity, compliance, maintenance and critical operators.
03 / VALIDATED WORKInitiatives that clear hurdle rates and approved loss limits.
04 / PARENTRemaining cash moves up only where lawful, solvent and permitted by agreements.