Investment Criteria
What we look for in early-stage founders and companies.
Northstar Ventures invests $100K–$500K in early-stage startups. Investment terms are determined individually following evaluation; we take the time to structure deals that work for both sides. This page explains who we back, what we look for, and how the process works.
Apply NowStages We Fund
From first concept to early scale.
We are comfortable evaluating companies at every stage from an initial idea through to early growth. What matters is the quality of the founder and the clarity of the opportunity, not the amount of revenue.
Idea
You have a clear concept, a compelling problem, and the conviction to pursue it. A working product does not yet exist, but you can articulate who the customer is, what pain they experience, and why you are the right person to address it. We are comfortable backing strong founders at this earliest stage.
MVP
You have built an initial version of your product, enough to test your core assumptions with real users. Early feedback is actively informing your direction, and you are iterating quickly. The focus at this stage is on learning what works, not scaling what does not.
Pre-Seed
You are generating real signals: test users, early pilots, waitlist demand, or initial revenue. The core founding team is established and committed full-time. You have a clear hypothesis for growth and are beginning to understand your unit economics.
Seed
You have meaningful evidence of product-market fit: paying customers, measurable retention, or strong demand indicators. The business model is taking shape. You are ready to invest in growth with a clear sense of where to allocate capital.
Early Growth
You have validated the model and are beginning to scale. Revenue is growing at a meaningful rate, the team is expanding, and unit economics are becoming clearer. The focus has shifted from proving the concept to accelerating what is already working.
Evaluation Framework
Six things we evaluate in every application.
These are the core dimensions we consider across every stage and sector. No single criterion is a dealbreaker in isolation; we weigh the full picture.
Exceptional Founders
The founding team is the most important variable in any early-stage evaluation. We look for founders with deep domain knowledge, genuine conviction in the problem they are solving, and the resilience to build through uncertainty. Track record matters, but instinct and drive matter more.
A Problem Worth Solving
We prefer companies addressing genuine, important challenges, specifically problems that affect a large number of people in a meaningful way. The most enduring businesses tend to be built around needs that are deeply necessary, not merely convenient.
A Large or Growing Market
The market opportunity should be large enough to support a significant company. We are comfortable with markets that are emerging or being redefined by technology; we do not require a fully formed, well-documented TAM. What matters is that the founder can make a credible case for scale.
Unique Insight or Advantage
The best founders arrive with a specific, defensible insight into why their approach will succeed where others have not tried or have failed. This might be a technical advantage, a distribution insight, a proprietary dataset, or deep relationships within an industry.
Evidence of Progress
Traction comes in many forms at the early stage: user feedback, pilot customers, letters of intent, waitlist growth, or early revenue. We look for some evidence that the idea resonates beyond the founder's conviction alone, proportionate to the stage of the company.
Long-Term Commitment
We invest in founders who are fully committed to building their company as a long-term endeavour. Part-time founders or those testing the market before committing fully are generally not a fit for the kind of partnership we aim to build.
Investment Focus
Sectors we invest in.
We back technology companies across a broad range of industries, with particular depth in the sectors below.
Core Focus
Artificial Intelligence
Foundational models, applied AI, and intelligent systems reshaping how the world operates.
SaaS
Software products with durable recurring revenue, strong retention, and scalable distribution.
Enterprise Software
Tools and platforms that help organisations operate more efficiently and competitively.
Fintech
Technology redefining how people and businesses manage, move, and access financial services.
Marketplaces
Two-sided platforms creating liquidity and efficiency in fragmented or underserved markets.
HealthTech
Digital health, diagnostics, and patient-centred technology improving lives at scale.
ClimateTech
Clean energy, carbon solutions, and sustainability platforms for a more resilient future.
Emerging Areas
Infrastructure
Developer tools, cloud infrastructure, and the platforms that power the modern internet.
Consumer Technology
Compelling consumer products with genuine retention, emotional resonance, and large markets.
Crypto / Web3
Blockchain protocols, decentralised applications, and the open financial internet.
Scope
Geography and investment size.
Geography
Global
We accept applications from founders located anywhere in the world. There is no geographic restriction on who can apply. Innovation is not limited to a handful of cities or countries, and neither are we.
- No country restrictions
- Applications accepted in English
- Remote-first review process
- Follow-on support across time zones
Investment Size
$100K–$500K
Our investments range from initial checks at the Idea stage through to larger commitments at Seed and Early Growth. The exact amount depends on the stage, the opportunity, and the capital requirements of the business.
Investment terms and equity arrangements are determined individually after evaluation and due diligence. Northstar Ventures does not guarantee investment or commit to specific terms prior to completing our review process.
Exclusions
What we do not fund.
We maintain clear boundaries on the types of businesses we will back. This list is not exhaustive; applications are reviewed individually and we reserve the right to decline any application for any reason.
- Illegal or unlawful business activities of any kind
- Gambling, sports betting, or online gaming platforms
- Adult content or entertainment businesses
- Fraudulent, deceptive, or misleading business models
- Products or services designed to cause harm to individuals or communities
- Businesses that violate applicable laws in their operating jurisdictions
How It Works
The application process.
A clear, five-step process from application to decision. No fees at any stage.
Register & Upload
Create a free account and upload your pitch deck. Open to founders worldwide.
Review
Our investment team reviews every submission with genuine attention and care.
Full Application
If we like your pitch deck, we will invite you to complete a short application covering your team and company details.
Evaluation
Applications that progress undergo our full investment evaluation and diligence process.
Decision
Founders receive a clear decision. Successful applications move to term discussion.
Please note: We do not provide specific timelines for the review process. Every application is reviewed individually. We aim to give every submission the attention it deserves.
Apply Today
If you fit these criteria, we'd like to hear from you.
Applications are reviewed individually. You do not need a warm introduction or a prior relationship with Northstar Ventures to be considered.