The night shift
#CapitalAtRisk
Refreshed, refocused, replenished
DMG is now mtrx syndicate.
When Kash and I started DMG in 2016 we had two small funds, which we invested in 2016 and 2017, and we did a bit of consulting here and there. Then from 2018 we were at the point where we wanted to angel invest together — my network and startup connections, his commercial rigour and M&A knowhow. We also thought other friends and colleagues might like to invest in the startups we liked so we started a syndicate. That syndicate has grown to over 80 people, a portfolio of nine startups, many of which we’ve invested in multiple times.
Now we want to scale that even further. As DJ Patil said here, prototype for 1x, build for 10x and engineer for 100x. That means our processes, discipline as well as our tech stack has to evolve, scale and be more focused too.
It’s not been easy in amongst the roller coaster of the last couple of years — growing families and supporting the portfolio have taken up more of our time alongside our day job commitments.
I do like Mondays
Ever since I read about Jack Dorsey having ‘themed days’ back in 2015, here, I’ve liked the idea. I’ve done that with 9others in the past and to work on mtrx syndicate Kash and I now meet in-person after hours on Monday evenings. This discipline of Monday evening working allows us to be more focused, prioritise well and therefore get more done. We’re closely looking at two investment opportunities right now and hope to share the next one with the syndicate next month.
Join us
There may be one or two reasons not to (an oversubscribed round but I’m squeezed in, some non-EIS deals, or a very early or very quick deal) but otherwise I syndicate most of my own investments through mtrx syndicate and I’m always looking for new syndicate investors to join us.
In brief, here’s the deal:
The syndicate is £1k to join (a one-off, lifetime membership fee — no ongoing investor fees).
Based on a memo Kash and I write, a pitch from the founders and any other materials and research the syndicate investors each decide for themselves whether they invest. If they do then the minimum investment into each opportunity is £10k per person (we’ve had between £10k and £200k per person).
We wrap everything up in a nominee structure, help the companies where we can and keep syndicate investors up to date.
As syndicate lead Kash and I share 10% ‘carry’ on any gains if there’s an exit.
You can see all the T&Cs and join up here or you can email me at matthew@mtrx.vc if you have any other questions.
Important: None of these posts are investment advice. If you are thinking about investing you should seek the advice of a suitably qualified independent advisor.
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