01
The announcement
A Tall Order
The hardest company to build is the one no one’s built before. The hardest cheque to write is the first. We named ourselves after both.
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Writing
The relaunch, written down
We stopped investing for a quarter and rebuilt the firm around AI. Three pieces: what we announced, why we paused, and what we built instead.
Pieces
Three, best read in order
Published
7 September 2026
All three
Under an hour
Paywalled
Nothing
02
Inside the firm
Why we paused
We stopped making new investments for a quarter. This is what we found when we pulled the engine apart.
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03
The relaunch · two
How we analyse every deal with AI
What we built instead: the four layers, how the engine reads a deal, and how we keep it honest.
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