Why We Invest in People, Not Just Products

Every investor says they "back great teams." It's become one of those phrases that's lost all meaning through overuse. So let me explain what it actually means for us at Lomond.

When a founder approaches us, the first thing I want to know is: who are you? Not what's your TAM or your CAC or your LTV. Who are you as a person? What drives you? What have you done before? How do you handle pressure?

Products pivot. People don't.

Look at any successful business and trace it back to the beginning. Chances are, the product or service they launched with isn't the one that made them successful. They pivoted. They refined. They found their market through trial and error.

The one thing that didn't change? The founders. Their character, their resilience, their ability to adapt - that's what carried the business through.

What we actually assess

When we meet a founder, we're assessing soft things that don't fit into a spreadsheet. Can they take honest feedback without getting defensive? Do they know their industry inside out? Have they faced setbacks before and kept going?

We're also looking at the relationship between co-founders, if there are any. Do they complement each other? Is there clear accountability? Can they disagree productively?

The tailor shop test

Someone once told me about a high-end tailor shop where the owner said, "Everyone finds it really intimidating to come in." That stuck with me. We don't want founders to feel intimidated approaching us. We want them to feel like they're having a conversation with someone who understands what it's like to build something from scratch.

Because we do. We've been there. And that shared experience is what makes the partnership work.

Want to know more about what we actually look for? Or if you're raising and think there's a fit, apply for funding.