Pre-seeding Bearer.sh: it’s never too early!

By Boris Golden, Principal at Partech

As seed investors, we often face a simple yet tricky question: how early do you invest, and when shall entrepreneurs come to pitch us?

There is no simple answer, as for us at Partech, there is no such thing as too early… in theory! We love to invest early, and most of our investments with our seed fund are pre-revenue, and a significant part are even pre-launch.

However, let’s be honest: in practice, we are unlikely to invest when there is nothing but 2 founders (of which 1 still employed in another company) and “just” a compelling but early vision (still clearly needing to be refined & better articulated), moreover in a super competitive space…

At such a stage, even if we like it, we would typically spend 1 hour with the team, exchange very openly with them, and follow up a few months later to see how they are doing (we ended up investing in several companies following this “process”).

Yet, in the case of Bearer.sh, that was different.

When we first met with Guillaume and Cédric, the founders of Bearer (named Apizi at the time), we were...

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