Our investment approach is built on:

  1. Focusing on how innovations drive evolutionary shifts and create multi-year growth opportunities
  2. Evaluating investments based on a stringent set of investment criteria
  3. Implementing a rigorous, team-based research process to analyze these secular drivers at both the company (bottom-up) and industry/ecosystem levels (meso-level)

Investment Criteria

Every investment is evaluated based on a disciplined set of investment criteria across three core drivers of investment outcomes: 1) industry/meso-level drivers, 2) company/bottom-up drivers, and 3) stock valuation. Our research process is built around in-depth research and evaluation into each of these elements. We strive to own businesses that meet the following criteria:

Industry Level & Meso-Down

1 Benefits from Evolutionary Shift Driven by Secular Trends & Innovation

2 Large Market Opportunity with Room for Growth

3 Attractive Industry Structure & Dynamics
Company Level & Bottom-Up

4 Industry Leader with Strong Innovation Pipeline

5 Multiple Layers of Competitive Advantage

6 Strong Business Model & Financial Position

7 Exceptional Talent with a Unique Culture
Stock Level

8 Logical Valuation Based on Long-term Drivers & Economics

 

See our Thought Pieces on Innovations, Evolutionary Shifts, and Secular Trends.  Click here