We invest in persistent growth — growth that sustains at higher rates for longer than the market expects.

To successfully invest in persistent growth, we must profit from where the world is going. It depends on the paradox of change and consistency. Change sparks a new opportunity; consistency enables a change to take hold.

By its nature, persistent growth demands investor patience. Persistent growth investments can be worth owning for years, even decades. Patience paired with persistence yields superior performance.

Gene Munster, Brian Baker

Redwood Materials Is Advancing Despite EV Headwinds

The Big Picture: The macro is challenging, and this too shall pass. Redwood has built a competitive moat, positioning itself to capitalize on two long-term, undeniable trends: electrification and onshoring. While the EV market has recently swung in favor of…

Venture Capital , Venture Portfolio

Investing in OCN

We’re investing in OCN via Deepwater Venture Fund II based on the potential for dramatic growth as the company enables gig workers to flourish throughout the Americas. We believe OCN will become a large and diversified financial services platform, initially…

Venture Capital, Venture Portfolio

Everything I’ve Learned About Venture in 500 Words

Bezos wrote, “Given a ten percent chance of a 100 times payoff, you should take that bet every time.” That’s venture in a nutshell, although you’re looking at more like a 1-2% chance of 100x rather than 10%. If there’s…

Venture Capital

Investing in xAI

Deepwater is an investor in xAI's Series B round. Despite the lofty $24B valuation for what is effectively a startup, we are confident in the investment for four reasons: 1. Foundation Models will power the world, 2. Model competence is a competitive advantage, 3. Unique training data and 4. Elon Musk. In the end, we believe xAI has the potential to be one of the twenty most important tech companies.

Venture Capital, Venture Portfolio

AI, Truth, and Timeless Work

Would You Die for Your Life’s Work? There’s a 500-year-old chapel outside of Edinburgh in Scotland that’s rumored to be the burial site of the Knights Templar and the Holy Grail. Dan Brown featured Rosslyn Chapel in his 80-million-copy book, The…

Venture Capital

The Valuation Playbook

What’s my company worth? What makes you special? The two questions are inextricably intertwined. The more special your value add, the more your company’s potential value. It’s true at the individual level too. The value of your time or effort…

Venture Capital

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We manage equity investment funds across the growth spectrum in public and private markets.