Yes–though early revenue is always a bonus! We look for companies with indications of traction; this often means revenue, but can also mean LOIs, design partners, strong pipeline, or even strong network connections.

We can be a lead investor or a follow-on investor.

There is a $25K program fee, which is included as an “in-kind” portion of our investment. For example, if PAX invests $300K in your startup, $275K would be in cash, and the other $25K would be in kind. The fee pays for the 8-week Sales Program, as well as program perks (e.g. Pitchbook access).

Yes, we have made investments in Canada, South America, Europe, and the Middle East. However, over 95% of our investments have been made in North America.

Not out of our Fund. We have invested in subsequent rounds using a special purpose vehicle (SPV), although it is rare.

We are vehicle-agnostic, but SAFE is most common.

No, not necessarily. We are more comfortable with software, but many of our deals have hardware components, especially those in Climate Tech. We will typically avoid asset-heavy industries.