Day 00 · Pitch01 / 05
Send the deck, or a paragraph.
No warm intro needed. Every pitch is read by a partner, and you hear back within two working days.
Written by one partner
Kindling
Kindling Fund IV · No. 008700102029374553606672778185899295979899100100%
M. Lindqvist
Authorised signatureThe cheque is signed
- SectorBio tools
- EntrySeed 2020
- NowAcquired 2024
- First cheque$1.5M
- SectorBio tools
- EntrySeed 2020
- NowAcquired 2024
- First cheque$1.5M
- SectorBio tools
- EntrySeed 2020
- NowAcquired 2024
- First cheque$1.5M
The story
Why we wrote the first cheque.
Benchtop sequencing prep without the wait.
Elena Varga spent her doctorate waiting for sample prep. Lumen Labs makes a benchtop instrument that prepares a sequencing run in forty minutes instead of two days.
The company was acquired in 2024 by a listed life-science tools group. We backed it at seed and held until the sale.
The round, step by step
From a memo to where it stands.
- Day 14Six pages, one partner, a yes.
- Seed 2020First cheque: $1.5M
- The team5 → 140 people
- TodayAcquired 2024
In the founder's words
Kindling was in before the instrument worked. They were still there the week it finally did.
More from the portfolio
Other cheques we were first to sign.
The story
Why we wrote the first cheque.
Benchtop sequencing prep without the wait.
Elena Varga spent her doctorate waiting for sample prep. Lumen Labs makes a benchtop instrument that prepares a sequencing run in forty minutes instead of two days.
The company was acquired in 2024 by a listed life-science tools group. We backed it at seed and held until the sale.
The round, step by step
From a memo to where it stands.
- Day 14Six pages, one partner, a yes.
- Seed 2020First cheque: $1.5M
- The team5 → 140 people
- TodayAcquired 2024
In the founder's words
Kindling was in before the instrument worked. They were still there the week it finally did.
More from the portfolio
Other cheques we were first to sign.
The story
Why we wrote the first cheque.
Benchtop sequencing prep without the wait.
Elena Varga spent her doctorate waiting for sample prep. Lumen Labs makes a benchtop instrument that prepares a sequencing run in forty minutes instead of two days.
The company was acquired in 2024 by a listed life-science tools group. We backed it at seed and held until the sale.
The round, step by step
From a memo to where it stands.
- Day 14Six pages, one partner, a yes.
- Seed 2020First cheque: $1.5M
- The team5 → 140 people
- TodayAcquired 2024
In the founder's words
Kindling was in before the instrument worked. They were still there the week it finally did.
More from the portfolio
Other cheques we were first to sign.
How we decide
From first e-mail to a term sheet in fourteen days.
One partner takes your pitch from the first e-mail to the term sheet. No committee tour and no silence: you always know which day you are on.
Pitch usThe fourteen days
01 / 05
01234567891011121314Day01234567890123456789of 14
Day 02 · First call02 / 05
Forty-five minutes, one partner.
We ask about the problem and why you are the ones to solve it. You ask us anything about the fund.
Written by one partnerDay02Kindling
Day 06 · The memo03 / 05
Six pages, written for you.
Your partner writes the case for investing: market, product, team and risks. You read the draft and correct us where we are wrong.
Written by one partnerDay06Kindling
Day 10 · Partner meeting04 / 05
One hour with the partnership.
You present and the memo has already been read. We vote the same afternoon and call you before the day ends.
Written by one partnerDay10Kindling
Day 14 · Term sheet05 / 05
A cheque and a clean term sheet.
Standard terms, no board seat asked at pre-seed and seed. The money is in your account within a week of signing.
Written by one partnerDay14Kindling
How we decide
From first e-mail to a term sheet in fourteen days.
One partner takes your pitch from the first e-mail to the term sheet. No committee tour and no silence: you always know which day you are on.
Pitch usThe fourteen days
01 / 05
01234567891011121314Day01234567890123456789of 14
Day 00 · Pitch01 / 05
Send the deck, or a paragraph.
No warm intro needed. Every pitch is read by a partner, and you hear back within two working days.
Written by one partnerDay00Kindling
Day 02 · First call02 / 05
Forty-five minutes, one partner.
We ask about the problem and why you are the ones to solve it. You ask us anything about the fund.
Written by one partnerDay02Kindling
Day 06 · The memo03 / 05
Six pages, written for you.
Your partner writes the case for investing: market, product, team and risks. You read the draft and correct us where we are wrong.
Written by one partnerDay06Kindling
Day 10 · Partner meeting04 / 05
One hour with the partnership.
You present and the memo has already been read. We vote the same afternoon and call you before the day ends.
Written by one partnerDay10Kindling
Day 14 · Term sheet05 / 05
A cheque and a clean term sheet.
Standard terms, no board seat asked at pre-seed and seed. The money is in your account within a week of signing.
Written by one partnerDay14Kindling
How we decide
From first e-mail to a term sheet in fourteen days.
One partner takes your pitch from the first e-mail to the term sheet. No committee tour and no silence: you always know which day you are on.
Pitch usThe fourteen days
01 / 05
01234567891011121314Day01234567890123456789of 14
Day 00 · Pitch01 / 05
Send the deck, or a paragraph.
No warm intro needed. Every pitch is read by a partner, and you hear back within two working days.
Written by one partnerDay00Kindling
Day 02 · First call02 / 05
Forty-five minutes, one partner.
We ask about the problem and why you are the ones to solve it. You ask us anything about the fund.
Written by one partnerDay02Kindling
Day 06 · The memo03 / 05
Six pages, written for you.
Your partner writes the case for investing: market, product, team and risks. You read the draft and correct us where we are wrong.
Written by one partnerDay06Kindling
Day 10 · Partner meeting04 / 05
One hour with the partnership.
You present and the memo has already been read. We vote the same afternoon and call you before the day ends.
Written by one partnerDay10Kindling
Day 14 · Term sheet05 / 05
A cheque and a clean term sheet.
Standard terms, no board seat asked at pre-seed and seed. The money is in your account within a week of signing.
Written by one partnerDay14Kindling