We focus on the fundamentals. Our investment criteria for venture opportunities reflect our experience not only in water and wastewater, but business in general. The companies we invest in meet/exceed the following criteria. 

Water/Wastewater

  • Focus on a well-defined problem relating to water/wastewater

  • Mgmt team experienced in water/wastewater

  • Mazarine’s experience/expertise a value add

Product/Service Offering

  • Hard to replicate, and defensible IP

  • Tangible competitive advantage over similar offerings

  • Minimal CapEx required for the customer to buy

  • Low barrier to customer adoption, and stickiness

Growth Strategy

  • Understanding of success/failure in the target market

  • Strategic partnerships established 

  • Formal plan to manage supply chain risk (if applicable) 

  • Sophisticated branding strategy to support premium pricing

  • 3rd party endorsements and customer testimonials 

  • Credible sales pipeline

Team

  • Clearly defined leadership roles 

  • Growth-minded and intellectually curious CEO with innate leadership qualities

  • Board and Advisors with experience and access 

  • Success in early fundraising

  • Formal succession plan 

  • Straightforward Cap Table 

Financial Metrics

  • $1m to 10M in recurring annual sales

  • Potential for $25M recurring within 3-5 years of Mazarine investment 

  • Opportunity for Mazarine board participation

  • Clearly defined margin projections

  • Confirmed interest from potential exits

  • Realistic valuation

Mazarine is also leading seed-stage rounds in companies that don't meet the above venture criteria, but demonstrate compelling growth prospects. 

How we see the world

"Founders often recreate the wheel in growing their company. This is a shame and leads to wasted time and money. My point of view is that the most successful young companies are run by CEOs who actively seek to learn from those who have been-there-done-that. We have already made the same mistakes our portfolio companies will most likely make, and have wisdom from the battles we have fought and won. Experience really does matter."

~ Tami Fratis

"Bringing innovations to market and establishing a solid foundation for growth is challenging. It takes a deep understanding of customer needs, marketplace dynamics, channels to market, and the customer buying process. Investors need to leverage their expertise, partnerships, and industry experience to support the portfolio day in and day out. Often times, the most pressing need is to open doors to executives in a portfolio company's beachhead market, which is where a career in water/wastewater is helpful." ~ Anders Hallsby

"The time-tested recipe for growing a business from idea to product to loyal customer base requires close alignment between the founders and investors. From the day Mazarine commits to a portfolio company, we immediately seek opportunities to bring forward our technical, finance, business, and network of connections to accelerate growth."

~ John Robinson

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