Pre-Seed
Early companies with a compelling insight, strong founder-market fit and a credible path to proving the business.
INVESTING
Capital Is Only Part of What We Invest.
We selectively back companies where we believe in the founder, the opportunity and our ability to contribute more than money.
OUR APPROACH
We Invest Like Operators
We have spent much of our careers building companies ourselves. That experience influences how we evaluate risk, what we consider traction and the kind of partnership we want after an investment is made.
We are not looking to occupy space on a capitalization table. When the fit is right, we want to be a useful resource to founders without becoming another layer of bureaucracy.
AN OPERATOR’S PERSPECTIVE
We’ve Raised Capital Before We’ve Invested It.
Our perspective is shaped by experience in the founder and CEO seat: raising money, building teams, changing course and making decisions with incomplete information.
That experience helps us understand a founder’s responsibility. We invest where capital, experience and relationships can be useful without becoming another layer of management.
STAGE
Where We Invest
Stage is a guideline, not a rigid box. We evaluate the quality of the opportunity first.
Seed
Companies beginning to demonstrate product-market fit, customer adoption or another meaningful validation.
Seed+
Businesses with growing evidence of repeatability preparing for the next stage of scale.
Select Growth
Established businesses where capital, relationships or operating experience can accelerate the next phase.
PARTICIPATION
Flexible About Structure. Disciplined About Fit.
We may lead, participate alongside other investors, co-invest, syndicate or make follow-on investments, depending on the specific opportunity.
- Lead or anchor participation
- Co-investment
- Syndicated participation
- Follow-on capital
- Strategic participation
Participation is determined case by case.
INVESTMENT CRITERIA
What Gets Our Attention
Founder Quality
Integrity, adaptability and speed of learning.
Market Potential
Room for a meaningful business to emerge.
Customer Value
Evidence of a real problem being solved.
Business Model
A credible path to repeatable revenue and sustainable margins.
Distribution
A practical way to acquire customers.
Differentiation
An advantage in product, data, brand, cost or relationships.
Alignment
Clear expectations, incentives and governance.
THE PROCESS
Straightforward by Design
01
Introduce
Tell us what you are building and raising.
02
Review
We assess the company, market, team and stage.
03
Discuss
If there may be a fit, we schedule a conversation.
04
Diligence
We look more closely at the business and opportunity.
05
Decide
We communicate our decision directly.
06
Partner
If we invest, we agree on how to be useful.
Investment Questions
What stages does NEP consider?
Our primary focus is pre-seed, seed and seed+, with select growth opportunities when there is a strong fit.
Does NEP only invest in certain industries?
No. We have particular experience in technology, SaaS, education, workforce, digital marketing and data, but remain open to exceptional opportunities elsewhere.
Does NEP lead rounds?
We may lead, participate, co-invest or syndicate depending on the opportunity.
Do you require a board seat?
No. Governance involvement depends on the company, stage and structure.
Can I submit a pre-revenue company?
Yes, when the founder, market and early evidence support a compelling thesis.
How long does review take?
Timing varies. We aim to communicate clearly and avoid unnecessary process.
THE NEXT CONVERSATION
Building something worth backing?
Introduce your company and the opportunity.