Our Investment Thesis
At Primordial Ventures, we are building the leading early-stage portfolio of software startups in North Carolina. We believe the state is uniquely positioned to generate outsized venture returns, yet remains overlooked compared to the coasts. With a thriving talent pool, world-class universities, and a growing density of repeat founders, North Carolina offers the right mix of opportunity and value — and we are purpose-built to capture it.
What We Look For
We focus exclusively on:
North Carolina–based software startups
At the pre-seed and seed stage
A product in market with paying customers
Capital-efficient business models
Founding teams that blend vision, resilience, and executional grit
Why North Carolina?
We invest only in North Carolina, because we see it as one of the most attractive, undervalued venture markets in the country:
Access to talent from top universities (Duke, UNC, NC State, Wake Forest)
Strong pool of repeat founders and seasoned operators
Lower capital requirements and operating costs compared to coastal hubs
A thriving ecosystem of angels, accelerators, and operators that strengthens our deal flow
Portfolio Construction & Diversification
Our approach is designed to balance early exposure with disciplined capital allocation:
Broad Early Exposure: We invest in 50–60 startups over the life of the fund, writing small initial checks across a wide range of promising teams.
Structured Support: Early investments are paired with accountability check-ins, mentorship, and access to our founder community, extending our diligence window while de-risking capital.
Double Down on Winners: Roughly 70% of our fund is reserved for follow-ons. We concentrate additional capital in the top quartile companies, with the largest allocations reserved for the very top performers.
Blended Approach: By combining diversification at the entry point with focus on breakout performers, we maximize return potential while managing early-stage risk.