Toward a $250 Million Technology Portfolio

Our ambition is to build toward a $250 million portfolio of technology and operating businesses. That number describes the scale we aspire to develop over time. It does not represent our current assets under management, enterprise value, completed acquisitions or committed investor capital.

A meaningful portfolio must be earned through a sequence of decisions, not assembled in a presentation. We believe that means focusing on businesses with identifiable customers, recurring needs, healthy economics and a reason to exist after the current technology cycle has changed.

We look at three connected activities: acquiring software when there is a sound ownership opportunity, building software when a problem is clear enough to justify starting from zero, and improving operations where technology can remove friction. They are related disciplines, but they should not be confused with one another.

Our areas of interest include small-business infrastructure, construction operations, applied AI, financial workflow tools and other vertical systems. The common thread is not fashion or hype. It is the opportunity to solve an expensive, repetitive or fragmented problem for a defined group of users.

Progress should be judged against verifiable milestones: products reaching customers, durable revenue, responsible acquisitions, better retention and stronger operations. We intend to distinguish targets from results every time we discuss the portfolio publicly.

The $250 million ambition provides direction. Execution, evidence and time will determine how far we go.