Operator Notes

We occasionally publish our work in an effort to help advance thinking in topics we care about and to learn alongside the people we most want to work with. 

Ensuring Smooth Transitions

At Curious, our focus is on buying and operating software companies for the long-term, and a big part of that success comes from having a clear, well-structured transition process. Over time, we’ve fine-tuned this approach to make sure everything runs smoothly—for both the companies we acquire and our own internal teams. Here's a deep dive and links to our internal resources.

On Debt and Boards

Not enough is said about board composition in early-stage companies and the decisions they encourage founders to make. Let's look at the incentive structure of these boards and how those incentives are driving greater use of debt in venture-backed startups.

Why Curious?

We often get asked, why Curious? It's one of the most important questions for us to have a clear answer to -- so much so that we include this in every LOI (letter of intent) that we submit. Given our commitment to transparency, we wanted to publish the answer to this question publicly. This is our promise to every company we work with.

Valuing Venture-Backed Software Companies

In the world of venture capital, you might think that valuation plays a crucial role in investment decisions. As a former VC, I’ll tell you that you’d be wrong. It’s all about backing the next big thing - rather than haggling over price. We're sharing our underwriting methodology to shed some light on what we believe to be achievable when you are not restricted to traditional PE or VC ways of thinking.

A Bridge Too Far

Much has been said about the slowdown in Venture Capital dollars flowing to startups, particularly early-stage startups, but not much has been said about the fundamentals of why. If 2023 was the year of the of the bridge round (and we’re seeing that it was), 2024 is the year of a bridge too far.

Welcoming Convox to the Curious Family

We're excited to announce the addition of Convox to the Curious family. This is our first majority acquisition from the new $16M permanent capital fund and a perfect example of the work this fund is dedicated to doing.

Announcing $16M in Permanent Capital

Announcing Curious Fund II, a dedicated $16M to help provide an alternate path for software companies. We acquire majority interests and operate companies profitably, for the long-term.