The AI underwriter for pre-seed & seed

Venture capital at the speed of AI.

Our engine, KAI, reads a founder’s application, verifies every material claim against the evidence they connect, and drafts the full investment memo in days, not months. A named human makes the final call and signs every cheque. Then we do what no other firm does: we publish the memo. The first venture firm that shows its work.

Launching from London · AI-native software, pre-seed & seed · UK & US
Why now

Two curves crossed.

Stakes in companies that reach a strong follow-on round are now sellable, because secondaries went from taboo to a record-volume market. And AI-native companies create that value inside 36 months. FundNow is built at the intersection.

THE 36-MONTH WINDOW 200020102020 2025–26 → time The 10-year era: waiting for exits was the only door out FUNDNOW built at the intersection Sellability of venture stakes before exit secondaries: taboo → record-volume market Value created in a company’s first 36 months AI-native era: years of building → months to revenue
Conceptual illustration, not to scale

Below the intersection, a 36-month liquidity discipline was impossible. Above it, it is possible for the companies that graduate, and the point belongs to whoever builds there first.

What we are

One engine. Three promises.

01

The Cheque

Days, not months.

Apply anytime: no batches, no warm intros. A screen result in 48 hours and a full decision within ten working days, on a published SLA (defined below). A fixed cheque on standard instruments, the same for everyone. The median pre-seed raise burns ~12 weeks of a founder’s life; we answer while your company still has momentum.

02

The Badge

Verified everything.

Founders first. KAI checks every material claim against evidence (revenue against payment records, contracts against documents, teams against public record) and issues a dated verification report that you own and can show any investor. Your documents are held for verification and never forwarded: the report travels, the files don’t. Flat fees, never a cut of the raise.

Investor-side verification (real fund, real capital, real identity) is designed and waits for regulatory sign-off; see the status table below.

03

The Clock

36 months to liquidity.*

We sell into momentum instead of waiting a decade. At month 36 every position is reviewed against three doors: exit, secondary sale into later rounds, or a backer’s choice to roll. Partial sales return capital while a free-carried tail rides the winners. *A target discipline, never a promise.

For founders

The fastest yes in venture.

And when it’s a no, it’s a fast no with structured feedback: never a slow maybe. For our British companies, the direction of travel is built in: born in Britain, priced in America. Stay UK-registered with SEIS and grants intact, and use our US rail to commercialise into the market that rewards growth.

1 · Apply anytime~30 minutes: a structured questionnaire and your deck. KAI verifies what it can from public record first; financial and product evidence connections are requested only if you pass the screen. No warm intro required. Ever.
2 · 48-hour screenKAI checks identity, incorporation, product existence and your answers. You hear back within 48 hours: advance, or a pass with reasons.
3 · Decision in 10 daysEvidence connected, full diligence run, a complete investment memo, and a signed yes or no within ten working days.
4 · Standard termsA fixed cheque on standard instruments: HMRC-compatible agreements or priced equity in the UK, the post-money SAFE in the US. We join rounds priced by credible leads and take the round’s terms if they clear our price ceiling. No negotiation theatre.
5 · The memo, publishedEvery yes ships with KAI’s memo. Backers see it in full; a banded version is published with your consent. Proof, in public, forever.

The pipeline: Source → Verify → Underwrite → Human signs → Execute → Return. Every override of the engine is logged, and the override rate is published: autonomy earned in public, never claimed.

The SLA, defined · v1.0 · 3 September 2026
Screen clock
Starts when a complete application is received (every question answered, deck attached). Result within 48 hours: advance, or a pass with three plain-language reasons.
Decision clock
Starts when the post-screen evidence connections are in place. A complete memo and a signed decision within ten working days.
Clock-stops
Both clocks pause, and the pause is disclosed to the founder, while we wait on third parties we don’t control (counterparty confirmations, reference calls, registry responses), or on evidence we have asked the founder to supply.
Capacity
We take up to 20 complete applications a month. Beyond that, applications queue in order of receipt; the founder sees their queue position and the clock starts when they enter capacity.
Reporting
Performance against both clocks is published quarterly, with clock-stops itemised, from the first quarter with ten or more complete applications. Nothing here is audited by a third party yet; an independent attestation is planned for year one and will be announced here when it exists, not before.

This definition is versioned. Changes are dated and the previous version stays available on request.

Built in public

What the engine does today. Exactly.

AI-washing is venture’s newest sin. Our rule is the opposite: autonomy is earned in public, never claimed. This table is the honest state of KAI, updated as it changes.

KAI does today

Runs on frontier models against the v0.2 specification: extracts every material claim from an application, matches it to the evidence provided, grades discrepancies, runs the fraud-check rubric, scores five dimensions, and drafts the full investment memo with calibrated predictions. Demonstrated end to end on a fictional company (memo #0); the first real memos run on v0.2.

Manual today

Evidence collection (founders connect or export their data; live API connections are in build), reference calls, counterparty confirmations, and the final decision and signature, which stay human by design, forever. The SLA above has not yet been measured on a real application; reporting starts with the first quarter of live applications.

Ships next

Live read-only connections (payments, analytics, code, open banking); the vault with logged access; automated registry checks; the public calibration ledger (hash-committed predictions first, scores as they resolve); investor-side verification, once regulatory sign-off is in hand. Each is announced here when it is real, not before.

The moment

Four things changed. We’re built on all four.

Investors want cash, not paper.

Recent fund vintages have distributed almost nothing. The 10-year fund is dying in public, and the market is starving for returned capital.

Stakes became sellable before exit.

Venture secondary volumes hit record levels in 2026. For companies that have priced a strong round, early liquidity is now a market, not a favour.

AI compressed time.

The fastest-growing companies in history are two or three years old. Value now spikes inside a 36-month window.

Diligence cost collapsed.

Agentic AI does the work of an analyst floor at near-zero marginal cost, and it never sleeps.

Two doors

Join before the first memo drops.

Founders: apply early

Pre-seed & seed, AI-native software, UK & US. Born in Britain, priced in America: we back UK companies at UK prices, with a US rail built in from day one. Stay UK-registered, keep SEIS and your grants, and commercialise into the US market. Early applicants get first access when underwriting opens.

Investors: register interest

FundNow’s investing circle is private. It is open only to certified high-net-worth or self-certified sophisticated investors (UK), or accredited investors (US).

Speed of decision. Speed of deployment.
Speed of proof.

Every element exists somewhere. The combination exists nowhere: AI underwriting + a published SLA + standard terms + verified data rooms + a 36-month clock.