Shearwater Capital

Marathon Venture Capital is an early-stage investor helping ambitious founders build world-class technology companies. The firm currently manages about €100 million in commitments between two funds. Our portfolio companies have raised hundreds of millions of dollars in funding from leading global investment firms while catering to customers on the Fortune 500 list or being acquired by them. We invest the first million and roll our sleeves up to help you build a fast-growing,world-class software company.

Zenda Capital is a thesis-driven, tech investment firm led by operators investing their own money. Our team started and exited three companies, and helped build the foundational team that scaled Twilio to $60Bn in market cap. We win by investing in category-dominant, B2B tech companies before they're obvious. We apply the same approach through which we’ve built a track-record of outperformance (7.5x MOIC, +110% IRR*) We partner with founders in the U.S. and LATAM as early as the formation stage, and support them through early-growth. Our first checks range from $250k to $1.5M, sometimes as co-founders of companies. We operate as business owners, and not just investors. Our focus is on helping founders solve problems for which there are no playbooks, but where our capital, operating experience, and network can help. 🔥 Our Mission We believe entrepreneurship is one of the greatest expressions of purpose by mankind. We look to find the best, overlooked, B2B entrepreneurs and be the first to invest in them. Our background as B2B founders and operators gives us an edge in connecting with these entrepreneurs and helping them win. 🧭 Guiding Principles Principle 1: Courage to be authentic → looking for opportunity where others don't, **and **believing first, when it’s non-obvious, is our path to greatness. Principle 2: Business owners, not investors → we exist to help founders build great businesses, not just to allocate capital. Principle 3: Enabling founders to win is our strategy → by **helping solve problems for which there are no playbooks, but where our capital, operating experience, and network can help. Principle 4: Decision quality is our product → we’re relentless about continuous learning and improving our decision process. Principle 5: Outperformance is our moat → helping founders build valuable companies is our north star. All else is secondary. Σ Investment StrategyWinning Formula: combining research with an entrepreneurial mindset to create opportunity. Focus: B2B tech in U.S. & LATAM. Role: lead/co-lead, participate (selectively) Entry Stages: incubation**,** pre-seed, seed. First Check Size: $250-500k (Incubation & Pre-Seed) up to $1.5M (Seed). Follow On: indefinitely, as long as risk adjusted returns make sense to us.

We invest in capital-efficient SaaS companies ready to take the next big jump. Our founder's roots run deep. Entrepreneurs ourselves, for thirty years our mission has been to help tech founders grow and realize their vision. Our first decade focused on financial advisory, having advised over 200 tech firms on high-value outcomes. Operators at heart, we launched Kennet’s US presence in 2000 with a focus on helping founder-led bootstrapped companies achieve their potential. Over the past 20 years, we have taken an entrepreneurial approach to international investing by combining analytics, talent, and capital to cultivate over 50 high-growth ventures with almost $1 billion invested globally. In 2021, Kennet recapitalized, and the North American and European teams restructured to focus on their respective markets. The result is Savant Growth; a US fund with a powerful software and operations platform dedicated to accelerating growth for capital-efficient SaaS companies. Our mission is to help our founders/CEOs build high-growth market-leading companies. We do not work alone. We have the power of our operations platform through DevSavant and SaleSavant. We continue to partner with Kennet, managing Kennet V's and Kennet VI's US investment program. Together, we work to achieve global market leadership for our companies.

We focus on businesses with strong products in growing markets where we can facilitate a change in performance by scaling sales, strengthening leadership, and enhancing operations. At Palisades, we are passionate about partnering and supporting companies that offer products and solutions that can help end-customers change their ways of doing business and potentially transform their industries. We help scale businesses by building leadership teams, identifying growth areas, and executing on operational improvements. Our value creation playbook has been developed over more than 20 years of investing in B2B software. WHERE WE OPERATE We target companies headquartered in the United States. We also support many of our existing portfolio companies in their expansion efforts globally. WHERE WE INVEST We typically deploy between $5-25m in equity per investment, acquiring both majority and minority stakes. We invest in software companies with proven business models, rich intellectual property, high recurring revenue, and long-term growth potential. We focus on enterprise software companies with scalable business models that are intrinsically profitable. We focus mainly on business-critical software that makes a real difference for the end-customer and carries a solid value proposition in the form of a high ROI. We look for opportunities where we can bring our company building experience to create shareholder value. We are flexible as to the size, form, and structure of investments we make. Our minority investments can consist of both an acquisition of shares from existing shareholders and a capital increase in the company supporting growth. WE HELP BUILD THE LEADERSHIP BENCH We assist in coaching, recruiting, and strengthening management teams and board members. WE HELP SCALE SALES ORGANIZATIONS We help scale sales and marketing teams with a blended focus on process, sales tools, metrics, and talent. WE HELP INVEST IN R&D We support innovation in the product development process including investment in and development of structured product development and innovation processes. WE PARTNER WITH MANAGEMENT Collaboration matters to us. We work closely with management teams to define success and create a sustainable roadmap for growth. Growth is not always predictable or linear, so we course-correct and refine strategies as necessary. We help build teams, advise on resource allocation, and pursue M&A opportunities. Palisades has established an operating team and partner network that works in conjunction with portfolio company executives and Palisades investment professionals to support execution of high impact strategic initiatives.

Our focus is on B2B software, and we are committed to partnering with companies that are well-positioned to capitalize on the megatrends shaping the future of how businesses leverage software in their day-to-day operations and interactions. As early stage investors, we provide our partners with the resources and support they need to grow and scale. Our team has extensive experience in supporting companies throughout different stages of growth, and we leverage our network of industry contacts, strategic partners, and investors to help these succeed. Our presence in key cities in Europe and the US allows us to provide valuable insights and connections, helping our partners expand into new markets and grow their businesses abroad. We are committed to helping our founders build successful ventures with lasting impact and value. We believe in the power of partnerships, and we work closely with our portfolio companies to help them achieve their goals and realize their full potential. WE LOOK FOR FUTURE TRENDS NOT PRESENT HYPES Targeting companies addressing the mega-trends shaping the technology of tomorrow WE ARE BE MORE THAN JUST CAPITAL PARTNERS Creating genuine partnerships and providing aligned and operational support to accelerate growth WE BELIEVE IN PEOPLE WITH DISRUPTIVE VISIONS Who seek to transform industries through innovative technology and unique approaches

We're growth capital, done differently. TAILOR MADE Our revenue-based financing model is built specifically for growing B2B software companies. Our investment structure is designed to maximize alignment between RAC and the Company, and to maximize value and optionality for the business, while keeping everyone’s focus on efficient growth. LONG-TERM PARTNERS RAC serves as a long-term capital partner, able to fund across multiple rounds, through both non-dilutive and traditional growth equity investments. We’re also a long-term strategic partner, with the relationships, resources, knowledge and tools aimed to help our portfolio companies grow efficiently. GLOBAL PLATFORM With 3 offices across the US and Germany, RAC has direct reach across North America and Europe. Through The Riverside Company, our reach expands to 12 offices across 4 continents, with a total portfolio of over 100 companies in a wide range of industries and geographies. GROWTH TOOLBOX RAC’s growth advisors, and Riverside’s broader network of former executives and seasoned experts are dedicated to optimizing portfolio company growth. Riverside has worked with over 600 companies to date, and fundamentally understands how to optimize both organic, and in-organic growth, through mergers and add-on acquisitions. SOFTWARE SPECIALISTS We’ve spent the majority of our careers working alongside, and sometimes inside, early- and growth-stage B2B software companies. We fundamentally understand the unique challenges and opportunities software businesses face every day DEDICATED RESOURCES We’re part of The Riverside Company, which brings three decades of knowledge and experience growing small businesses. RAC’s dedicated growth advisors utilize that knowledge and resources to help our portfolio maximize performance.