We build, we don't just bet
Rocket Internet with a chip on its shoulder. We incubate companies inside the fund, staff them with operators, and point them directly at incumbents who got comfortable. Venture as a contact sport.
Pre-Seed & SeedEst. Out of Spite
A venture firm with a grudge
We fund the
companies built
to bury theirs.
Spite Fund backs founders with an axe to grind. We build businesses to challenge monopolies, clone the best performers in a category, and take their cash flow before we take their customers. Named after the store George opened out of pure spite. Run exactly like it.
- Priority One
- Cash Flow
- Priority Two
- Acquisition
- Founder Trait
- Axe to Grind
- Playbook
- Copy. Compete. Bury.
* Feelings not included. Returns are.
The model, plainly stated
§ A cloning-first venture studio
We copy what already prints
If a category leader has a product that works, we don't reinvent it. We clone the best performer, run it leaner, price it meaner, and let the market decide who deserved the margin.
We compete out of principle
Sometimes the target isn't a monopoly. Sometimes it's a fund we don't like. We replicate their winners specifically to take the return off their table. Nothing personal. Everything personal.
Cash flow first, exit second
We optimize for businesses that pay for themselves early. An acquisition is a nice ending, not the plan. A company that throws off cash can afford to hold a grudge forever.
The Spite Playbook
Five moves. One grudge.
- 01
Target
Identify a monopoly grown lazy, or a rival fund's crown-jewel company. Mark it.
- 02
Clone
Rebuild the winning product with a leaner cost base and a sharper wedge.
- 03
Undercut
Price to bleed. We'd rather own the margin than protect a nonexistent one.
- 04
Compound
Reinvest the cash flow into the next clone. The grudge scales; so does the P&L.
- 05
Bury
Take the customers, the talent, and the story. Acquisition optional. Victory not.
Founders with an axe to grind
§ Wanted & unwanted
We want you if
- You got pushed out of the company you built.
- A monopoly ate your last startup and smiled about it.
- A VC passed on you, then funded your clone.
- You know a category cold and you're done being polite about it.
- You want to win, but mostly you want them to lose.
Don't bother if
- You want to "disrupt" with a mission statement.
- You need everyone in the room to like you.
- You think competition is a distraction.
We read spite like a term sheet. Bring receipts.
§ Filed for the record
- 1st
- Cash flow before anyone's ego
- 2nd
- Acquisition, if we feel like it
- ∞
- Length of grudge we'll hold
- 0
- Sympathy for monopolies
§ Bring us a grudge
Tell us who wronged you. We'll build the company that settles it.
Pre-seed and seed checks for founders who treat competition as a personal matter. Send the target, the thesis, and the reason you can't let it go.
We reply fast. Spite doesn't wait.