i.
Workflows, not features.
A copilot bolted onto a system of record is a feature. A product that takes a claim, a filing or a security alert from intake to resolution is a company. We fund the second kind.
The next great software companies won’t add AI. They’ll replace the work.
Manor X leads Series A and B rounds in companies with early revenue that are turning entire workflows into software: vertical AI agents, enterprise AI infrastructure, AI security and dual-use technology.
What we believe
Three convictions behind every check.
Most of the last decade’s software helped people do their jobs. The next decade’s software will do the job, with people setting direction and checking the result. That changes who wins.
ii.
Better with every use.
The best AI products get sharper on each customer’s data, edge cases and corrections. Usage compounds into accuracy, and accuracy compounds into trust and expansion.
iii.
Hard for a general model to copy.
Each frontier model release raises the floor for everyone. Durable companies live above that floor: proprietary data, deep integrations, regulated workflows and hard-won domain judgment.
Where we invest
Four areas. One thesis.
We stay concentrated so we can be useful. Each area is a different answer to the same question: what will enterprises trust AI to run on its own?
01Vertical AI agents
Agents that own the outcome in one industry.
Software that does skilled work end to end in insurance, healthcare administration, legal, finance, logistics and the trades, and is priced on the work it completes.
- Claims & underwriting
- Revenue cycle
- Legal ops
- Supply chain
02Enterprise AI infrastructure
The plumbing that puts agents into production.
Data, orchestration, evaluation and observability for companies that run models on systems that matter: reliable, auditable and cost-controlled.
- Evals & reliability
- Agent orchestration
- Data pipelines
- Inference economics
03AI security
Securing AI, and securing companies with AI.
Every agent is a new identity with new permissions. We back companies that protect models, data and autonomous systems, and those that use AI to put defenders ahead.
- Agent identity
- Model & data security
- Autonomous SOC
- AppSec
04Dual-use technology
Commercial products that also strengthen national capability.
AI-native software for manufacturing, space, energy, logistics and public-sector missions, with real commercial revenue and a credible path to government adoption.
- Industrial autonomy
- Geospatial
- Resilient supply chains
- Gov workflows
The Manor X test
Four questions we ask every company.
We don’t need every answer to be perfect at Series A. We do need clear evidence that each is moving in the right direction.
Q.01
Do customers rely on it daily?
Not a pilot or an innovation budget line item. A product that sits in the critical path of real work, where turning it off would hurt this week.
Q.02
Does it get better with use?
Corrections, outcomes and proprietary context feed back into the product, so the thousandth task goes better than the first and the gap widens over time.
Q.03
Is it hard for a general model to copy?
If the next foundation model release could do this out of the box, it isn’t a company. We look for moats in data, distribution, integrations and trust.
Q.04
Is revenue already real?
Typically $1–10M in ARR or contracted revenue, with retention and expansion that show the product is replacing work, not just being tried out.
Selected portfolio
Companies doing the work.
A few of the teams we’ve partnered with at Series A and B.
L
Series A
2025
2025
Ledgerline
Autonomous month-end close for mid-market finance teams. Reconciles, accrues and flags exceptions before the controller logs in.
Vertical AIFinance
S
Series B
2025
2025
Sentinel Grid
Identity and permissions for AI agents. Every agent action is scoped, logged and revocable across the enterprise stack.
AI SecurityIdentity
H
Series A
2026
2026
Halyard
Agent orchestration and evaluation for regulated enterprises. Production reliability with a full audit trail.
InfrastructureEvals
The question isn’t whether a company uses AI. It’s whether the customer could still do the job if the product disappeared tomorrow.From the Manor X investment memo template
How we work
A lead investor, not a passenger.
We write the term sheet, take the board seat and stay on the hook. Our platform is built around the two things Series A and B companies struggle with most: enterprise go-to-market and senior hiring.
$8–30M
First check, Series A & B
21 days
First meeting to decision
1 board
Seat per partner, per round
~10
New companies per year
For founders