How we work
We receive a large number of invitations to invest in new, exciting companies. To manage our evaluation, our selection, and the way we structure and support the investments we make, we like to work in a particular way.
We are flexible, but we need a strong process too. Your time is scarce, and a well-structured process benefits you as much as us.
1
Get to know each other early
It takes time to get to know each other and to build a partnership grounded in a real understanding of what we both want from your venture. So we suggest you make contact early, ideally long before you would consider an investment from us.
But if you haven't heard of us before and are already out raising, don't hesitate to reach out. We will both just have to invest more time over a shorter period to get to know each other.
1
Get to know each other early
It takes time to get to know each other and to build a partnership grounded in a real understanding of what we both want from your venture. So we suggest you make contact early, ideally long before you would consider an investment from us.
But if you haven't heard of us before and are already out raising, don't hesitate to reach out. We will both just have to invest more time over a shorter period to get to know each other.
2
What to share with us
To consider an investment, we need material that gives us a clear picture of you, your company, your offering and your target market. Just as importantly, it shows us that you have taken the time to reflect on your venture and where you want to take it.
It does not have to be an encyclopedia. Short and sharp is often better.
2
What to share with us
To consider an investment, we need material that gives us a clear picture of you, your company, your offering and your target market. Just as importantly, it shows us that you have taken the time to reflect on your venture and where you want to take it.
It does not have to be an encyclopedia. Short and sharp is often better.
3
Review and discussion
If we like what you share with us, we will review it in detail and enter into a dialogue with you to evaluate its viability and determine if we would like to work together. This could include an in-depth review of your product or service, analysis of your target market, several meetings with your team, and in most cases conversations with your customers and strategic partners. Along the way, you may be introduced to members of the Spintop network with experience and expertise relevant to your business.
3
Review and discussion
If we like what you share with us, we will review it in detail and enter into a dialogue with you to evaluate its viability and determine if we would like to work together. This could include an in-depth review of your product or service, analysis of your target market, several meetings with your team, and in most cases conversations with your customers and strategic partners. Along the way, you may be introduced to members of the Spintop network with experience and expertise relevant to your business.
4
Forming our team
We are strong believers in teams, so we assign two people to every investment, usually one from the investment team and one from the Spintop network. Both bring knowledge and experience that match the needs of your company.
This gives you more value and helps us do a better job. And when needed, we draw on the whole Spintop network to give you the best possible support.
You can learn more about the team on our Team page.
4
Forming our team
We are strong believers in teams, so we assign two people to every investment, usually one from the investment team and one from the Spintop network. Both bring knowledge and experience that match the needs of your company.
This gives you more value and helps us do a better job. And when needed, we draw on the whole Spintop network to give you the best possible support.
You can learn more about the team on our Team page.
5
The term sheet
If, after the review, we see a strong investment opportunity, clear ways to add value as active investors, and, most importantly, feel that we can all work together, we outline our proposed investment in a term sheet. This is a non-binding offer setting out the terms of an investment by Spintop.
We prefer specific and precise term sheets. Ours includes all major terms and conditions, so that important issues are addressed early. It should give you a clear understanding of what our investment and support would look like.
5
The term sheet
If, after the review, we see a strong investment opportunity, clear ways to add value as active investors, and, most importantly, feel that we can all work together, we outline our proposed investment in a term sheet. This is a non-binding offer setting out the terms of an investment by Spintop.
We prefer specific and precise term sheets. Ours includes all major terms and conditions, so that important issues are addressed early. It should give you a clear understanding of what our investment and support would look like.
6
Due diligence
Once all parties have signed the term sheet, we move into due diligence. This is where we verify the information shared during the evaluation. It could include checking that customer and partner contracts are in place as presented, that IP protection is in order, and that the company's governance is sound, among other things.
6
Due diligence
Once all parties have signed the term sheet, we move into due diligence. This is where we verify the information shared during the evaluation. It could include checking that customer and partner contracts are in place as presented, that IP protection is in order, and that the company's governance is sound, among other things.
7
The investment decision
The formal decision to invest is taken by Spintop’s investment committee. For us to invest, the decision needs to be unanimous. When investing we typically take the view to continue to invest in your company in subsequent future investment rounds.
7
The investment decision
The formal decision to invest is taken by Spintop’s investment committee. For us to invest, the decision needs to be unanimous. When investing we typically take the view to continue to invest in your company in subsequent future investment rounds.
8
The investment documentation
When we invest we do so with the ambition of building a hugely successful company with you. A not unimportant part of this success is getting all the corporate documentation up to a high international standard. This often entails us supporting you and your venture to put in place professional shareholder agreements, internationally recognisable articles of association, and a balanced investment agreement that signals good legal protection for both founders and external investors.
8
The investment documentation
When we invest we do so with the ambition of building a hugely successful company with you. A not unimportant part of this success is getting all the corporate documentation up to a high international standard. This often entails us supporting you and your venture to put in place professional shareholder agreements, internationally recognisable articles of association, and a balanced investment agreement that signals good legal protection for both founders and external investors.
9
Establish the business
Our initial investment should give your company a firm footing. Depending on the business, that normally means closing and delivering the first significant customer contracts, or establishing a position in your first geographic market. This phase often involves intensive work on the business model, offering, distribution and pricing, to shape a business that is competitive and ready to scale. Just as importantly, we work with you to put in place the processes and organisation needed to support rapid growth. Should the investment benefit from other co-investors alongside us, such investors would normally come from the Nordic region.
9
Establish the business
Our initial investment should give your company a firm footing. Depending on the business, that normally means closing and delivering the first significant customer contracts, or establishing a position in your first geographic market. This phase often involves intensive work on the business model, offering, distribution and pricing, to shape a business that is competitive and ready to scale. Just as importantly, we work with you to put in place the processes and organisation needed to support rapid growth. Should the investment benefit from other co-investors alongside us, such investors would normally come from the Nordic region.
10
International expansion
Once your company has established a position with its first customers or markets, and built a business that can scale, we support the international expansion.
Our global network can connect you with decision-makers at potential customers and partners, and with other resources to grow the business. We have been through many rapid international expansions before, and we are glad to guide you through this phase.
A major international expansion often requires further external financing, which we want to take part in, typically alongside co-investors, as the capital needs are often substantial. That co-financing is best provided by leading venture firms active in the target markets. Thanks to our London partner presence and the previous ventures we have been involved in, we have direct relationships with many of the leading international venture capital firms and are well placed to help complete such a round.
10
International expansion
Once your company has established a position with its first customers or markets, and built a business that can scale, we support the international expansion.
Our global network can connect you with decision-makers at potential customers and partners, and with other resources to grow the business. We have been through many rapid international expansions before, and we are glad to guide you through this phase.
A major international expansion often requires further external financing, which we want to take part in, typically alongside co-investors, as the capital needs are often substantial. That co-financing is best provided by leading venture firms active in the target markets. Thanks to our London partner presence and the previous ventures we have been involved in, we have direct relationships with many of the leading international venture capital firms and are well placed to help complete such a round.
11
Our exit
Although we invest for the long term, often remaining an active investor for five to eight years and sometimes longer, we will ultimately want to exit. This is a natural step. After that time, your company will have grown and matured, with a complete management team, an established position and a proven strategy, and an early-stage investor like Spintop will have less value to add.
So when the time is right, we will look to exit our investment while leaving you with a strong platform to take the business forward. That might be as part of a larger organisation after an acquisition, with new later-stage investors focused on expansion and consolidation, or as a listed company following an IPO.
11
Our exit
Although we invest for the long term, often remaining an active investor for five to eight years and sometimes longer, we will ultimately want to exit. This is a natural step. After that time, your company will have grown and matured, with a complete management team, an established position and a proven strategy, and an early-stage investor like Spintop will have less value to add.
So when the time is right, we will look to exit our investment while leaving you with a strong platform to take the business forward. That might be as part of a larger organisation after an acquisition, with new later-stage investors focused on expansion and consolidation, or as a listed company following an IPO.
12
Life after exit
Our success is a direct result of yours. We are proud of the teams we back, and after years of working together through highs and lows, we aim to part ways as trusted partners.
By then, our relationship will have stood the test of some serious off-road, off-map driving. So we like to stay in touch long after our financial exit.
12
Life after exit
Our success is a direct result of yours. We are proud of the teams we back, and after years of working together through highs and lows, we aim to part ways as trusted partners.
By then, our relationship will have stood the test of some serious off-road, off-map driving. So we like to stay in touch long after our financial exit.
testimonial
"Spintop brings a rare combination of deep understanding of AI and computer vision, strong enterprise software experience, and a highly relevant industrial network."
Paul Endresen
CEO, 3LC
testimonial
"The best team! All founders should try to convince them to invest in your company. Being part of the Spintop family is truly amazing."
Viktor Nord
Co-founder, Adway
testimonial
“It feels like working as a team with Spintop Ventures. They are always on our side.”
Anders Rapp
Co-founder, Keenious
testimonial
“It felt uncomfortable to be pushed, but we wouldn’t have done it ourselves.”
Frode Opdahl
Co-founder, Keenious
Spintop brings a rare combination of deep understanding of AI and computer vision, strong enterprise software experience, and a highly relevant industrial network.
The best team! All founders should try to convince them to invest in your company! Being part of the Spintop family is truly amazing!
It feels like working as a team with Spintop Ventures. They are always on our side.
Spintop brings a rare combination of deep understanding of AI and computer vision, strong enterprise software experience, and a highly relevant industrial network.
Talk to us directly.
We don’t use contact forms. Pitch any one of us directly. We’re all investors, we all read what lands in our inboxes, and we make sure the right person sees it. Choose freely. There’s no wrong door.