This issue
We have published our thesis in three short essays. Together they answer the questions founders ask us most: where we invest, how we decide whether a strategic technology is also a company, and how a serious decision can be made in fourteen days.
Where: three democracies
Our geography is the United States, India and Japan. The United States brings the buyer and the capital, India the builders, Japan the makers. The supply chains behind chips, batteries, critical minerals and communications are being rebuilt among trusted partners, and many of the strongest young companies will span two of the three from the start.
For founders, the practical question is not where the company is registered. It is where the first buyer, the critical supplier and the talent are, and whether the path between them is open.
What: important is not investable
A capability can matter enormously to a nation and still fail as a company. In every round we test four things: a buyer with a budget, performance outside the demonstration, a path to deployment, and capital that reaches a milestone even if adoption is slower than planned.
Dual-use is a discipline, not a slogan. Each market needs its own user, buyer and evidence; two half-markets do not make a whole one.
How: fourteen days
Every company starts with the same CAMP assessment. A score of 75 or above makes it eligible; the fourteen days begin only when the founder clicks the investment button. Speed comes from preparation. The depth of diligence does not change, and a qualifying score does not override an unresolved material issue.
One thing to do this month
Write down, in one page, the evidence behind your three most important claims: what was tested, under what conditions, and what has not yet been shown. It is the page we ask for first, and the one most founders do not have ready.
