Straight answers to common questions.
What founders usually ask us before a first meeting. If yours isn’t here, email hello@manorxfund.com.
What we invest in
What stage do you invest at?
We lead Series A and Series B rounds. Companies usually have early revenue, often $1–10M in ARR or contracted revenue, and clear evidence that customers depend on the product.
How much do you invest?
Our first checks are usually $8–30M, depending on stage and round size. We reserve meaningful capital for follow-on rounds.
Do you lead rounds?
Yes. We lead or co-lead every new investment and usually take a board seat. We’re happy to build the rest of the syndicate alongside you.
Which sectors do you focus on?
Four areas: vertical AI agents, enterprise AI infrastructure, AI security and dual-use technology. What ties them together is software that replaces a whole workflow rather than adding an AI feature to an existing one. Read the full thesis.
How do you tell a workflow replacement from an AI feature?
We ask whether the product owns an outcome. Does it take the work from start to finish, with people reviewing and handling exceptions? Is the customer paying for completed work, or for a tool that makes their team somewhat faster? Is it budgeted from operations or labor, not only from IT?
What makes a company hard for a general-purpose model to copy?
Usually several of these together: proprietary data generated by doing the work, deep integration with systems of record, trust earned in regulated or high-stakes settings, domain-specific evaluation, and distribution into buyers that are hard to reach. A clever prompt on top of a frontier model is not enough.
Do you invest at seed or pre-revenue?
Not as a lead. We do like getting to know strong seed-stage teams early, and many of our Series A investments come from relationships that began a year or more before the round.
Do you invest outside the United States?
We focus on U.S.-headquartered companies, or companies with significant U.S. operations and customers. For dual-use companies, U.S. or allied-nation ownership and operations are required.
Process
How do I pitch Manor X?
A warm introduction through a founder or investor we know is great, but not required. You can also use our pitch form or email pitch@manorxfund.com. A partner reads every submission.
Do I need a deck?
Not for the first meeting. A short memo or a product demo is often better. Before the partner meeting, we’ll ask for a metrics pack covering revenue, retention, usage and unit economics.
How long does it take to get a decision?
Usually about three weeks from first meeting to term sheet. We can move faster when the timeline calls for it, and we’ll always tell you where things stand.
Will you talk to my customers?
Yes, but only the ones you introduce us to, and only late in the process. We know customer time is valuable and keep those calls short and focused.
If you pass, will you tell me why?
Always. You’ll get a direct, specific answer. Many founders we passed on came back later, and some of them are now in our portfolio.
After we invest
What does the board relationship look like?
One partner takes the seat and stays with the company for the long run. Expect quarterly board meetings, a regular one-on-one cadence with the CEO, and quick responses between meetings.
What help do you provide beyond capital?
Our platform focuses on enterprise go-to-market (buyer introductions, pilot design and pricing), senior hiring through our in-house talent partner, security and compliance readiness, and planning for follow-on financing.
Do you invest in follow-on rounds?
Yes. We reserve a significant part of the fund for follow-ons and typically take our pro rata in later rounds.
General
Where are you based?
Our office is at 470 Jackson Street, Suite 300, San Francisco, CA 94111, in the Jackson Square historic district. We invest across the United States and spend a lot of time in New York, Washington, D.C. and Austin.
Who are your limited partners?
Our LPs include endowments, foundations, family offices and experienced technology operators. For LP inquiries, email ir@manorxfund.com.
Are you hiring?
We hire occasionally, mostly for investment and platform roles. Send a note to careers@manorxfund.com. Portfolio companies are almost always hiring; ask us for introductions.