Bootstrap4F Criteria
B4F invests in VC funds managed by mixed-led teams and female-led teams with presence in the UK across the whole spectrum of the venture asset class. As a fund of funds, B4F follows a diversification strategy, investing across all stages from micro-VCs to larger funds, from pre-seed to late stage, from emerging to established managers, from consumer funds to tech and life sciences.
We look for four key pillars when we evaluate a fund:
First is Female Leadership
This is non-negotiable and is enshrined in our legal charters. We are looking for women at the GP level who have genuine investment decision-making power, a share of the carry, and a real seat at the investment committee.
Second is UK Content
Our mandate is to fuel the UK ecosystem. Although funds don’t need to solely focus on the UK or might have presence elsewhere in Europe, we want to see a strong UK presence in the form of UK offices and at least an investing partner based in the UK with a clear history and strategy for backing entrepreneurs right here in the UK.
Based on these first 2 criteria, if a fund doesn’t qualify, it doesn’t move forward.
Third is Track Record
You don’t necessarily need to have been a GP before, but you do need to show us your traceable track record. We look at your history of sourcing, managing, and exiting deals at previous firms or as an angel. We need to see that you know how to pick winners and drive them to a result and your performance has to be outstanding and qualify as top quartile according to common performance benchmarks.
And finally - and perhaps most importantly - is Conviction and Alignment
We look for a unique ‘investment edge.’ The venture market is crowded, so we want to back managers who have a distinct perspective on a sector and the grit to follow through on it. We aren’t looking for consensus thinkers; we’re looking for the leaders who will define the next decade of tech. And we are looking for long term alignment of interest between the Manager and the Limited Partners that has to be reflected in the team’s own commitment to the fund and market standard investor protection clauses in the legal documentation.