Founder Nadav Eylath's first ever lead check: $775,000 into Netlify, now valued at $2 billion, a 100x return on his investment.
With the raise of its second fund, At.inc/ adds Roni Bonjack as its second general partner. For founder Nadav Eylath , who says he'd been operating like a solo investor, the hire turns At.inc/ into a proper, institutionalized firm.When Netlify founders Christian Bach and Matt Biilmann approached venture capitalists in 2015 with an idea to solve a pain point of web development, few investors could see the problem.
“We’re not waiting to see traction. We just want to connect to the founders and their vision on what can change in the world,” Eylath says. “If it’s too early, it’s probably a fit for us.” At.inc/ is aptly named as shorthand for “at incorporation,” indicative of the firm’s mission of partner with founders from the very start. The fund is generalist, both in terms of the industries and the geographies that it makes investments in. The crux of the strategy, Eylath says, will be to deploy the capital slowly, over as many as five years, in $1 million to $3 million checks for seed rounds that it leads or co-leads.
Honeybook’s Alon and Netlify’s Bach also credit Eylath for his conviction in making decisions that appear contrarian. Where other prospective investors encouraged Netlify to target big customers from the start, Bach says Eylath stood on because of his belief in first focusing on the community of developers. “What mattered for us was how many developers are we in the toolbelts of—not what are the logos of enterprise customers,” Bach says.
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