Ingenii Capital Research
Investment Thesis
Ingenii Capital is a technical-edge-first venture fund built around the belief that genuine signal in early-stage tech is rare, and that the fund's job is to chase it down rather than wait for it to come knocking through the usual warm-intro channels. The firm's own language ("Signal is rare, that's why we chase it," "We map where tech is heading, we get it early") reflects a proactive sourcing model: Ingenii explicitly tells founders "you don't need to find us... we'll find you," which suggests outbound, thesis-driven deal sourcing rather than a purely inbound, warm-intro-gated pipeline. The fund is unapologetically technical: their stated non-negotiables open with "Tech first. Always. We only back products with real technical edge. If the tech doesn't move the needle, neither will the business."
Sector Focus
The portfolio is broad within a fintech-and-infrastructure center of gravity: embedded payments and payments infrastructure (Ryft, Payr, The ID Co.), consumer and business banking (Starling Bank), SME workflow and financial SaaS (Teamleader, Xpenditure), B2B marketplaces (LeafLink, a wholesale cannabis supply-chain platform), cybersecurity and vulnerability management (RedShield, Root Evidence), AI-driven retail computer vision (Imagr AI), investment/wealth data infrastructure (Addepar), and developer-first web infrastructure (Pagelove). This spans several canonical sectors: fintech_payments, enterprise_software, ecommerce_marketplaces, security_cyber, developer_tools_infra, and robotics_automation (computer vision), with a consumer_apps_social flavor for at least one newer, less-documented holding (Blink/cult.app).
Stage Focus
Ingenii invests at Seed and Seed+, with selective participation at Series A. The firm's own site states check sizes of "$500K–$2.5M at Seed/Seed+" and "$3M–$4M at Series A," and explicitly notes that it reserves capital for follow-on rounds rather than being a one-and-done investor.
Check Size
Typical investment range is $500K to $4M, split roughly as $500K–$2.5M for Seed/Seed+ and $3M–$4M for Series A, with reserved follow-on capacity.
Lead Tendency
Ingenii prefers to co-lead rounds alongside strong local partners but will lead outright when it makes sense — a "both" posture rather than a pure lead or pure follow strategy. This is borne out in the portfolio: Ingenii is credited as sole lead on Payr's 2026 seed round, and as co-lead (alongside Bespokeist Partners) on Stoa's 2026 pre-seed round.
Recent Activity
Fund 1 is a $65M vehicle with a 5-year investment period and 10-year fund life, and appears to be actively deploying. In March 2026, Ingenii led a $2.1M (£1.6M) seed round in Payr, a UK rent-payment fintech, alongside Haatch, British Business Bank, Velocity Capital and angel investors. In mid-2026, Ingenii co-led a £1.8M pre-seed round in Stoa, a cash-management fintech, alongside Bespokeist Partners, with participation from Force Over Mass Capital and Fuel Ventures. The fund also added Abraham Hamo to its team in January 2025 to lead fund administration and operations.
Portfolio Highlights
Notable outcomes include Starling Bank (invested at a £24M pre-money valuation, since valued as high as £2.5B pre-money — one of the UK's best-known neobanks), Teamleader (exited at a €153M equity value, 7.5x ARR, 34% IRR), and Xpenditure (exited at a €46M equity value, 16x ARR, 115% IRR). Current active holdings span Ryft (embedded payments infrastructure), Payr (rent-payment fintech), Root Evidence (evidence-driven vulnerability management), Stoa (cash-management/savings fintech), Pagelove (lightweight web infrastructure), LeafLink (cannabis B2B marketplace), Imagr AI (computer-vision retail tech), Addepar (investment data platform), and RedShield (cybersecurity).
Team
- Michael Boocher, Managing Partner — Software engineer and tech innovator by background; described on the firm's site as a Bayesian, lateral thinker with a direct, no-fluff style. Quoted publicly as the deal lead on both the Payr and Stoa rounds.
- Andrew Martin, Partner — 30-year veteran transactor; analytical and structured, with a diplomatic, pragmatic style; focuses on operations.
- Abraham Hamo, Fund Administration — Joined in January 2025; multi-disciplinary background with a perceptive, strategic, deliberate approach; leads fund administration and cross-jurisdictional fund operations.
Decision Process
Ingenii describes a lightweight, three-stage process: a quick first call with the Managing Partner, then (if it clicks) a full team call, then a deep dive into the target market and customer traction. The fund is explicit that it weighs revenue potential over pure vision-stage narrative.
Founder Preferences
Ingenii is looking for technical founders building products with genuine technical differentiation and a scalable-by-design (not scalable-by-hope) architecture. Founders should expect direct, high-input engagement post-investment — the firm states plainly that founders looking for "just a check and vibes" should look elsewhere — but involvement is founder-initiated ("we get involved, if you want us").
Geographic Focus
Geography is defined functionally rather than by hard borders: "Anywhere English gets business done." In practice, the current portfolio clusters in the UK, continental Europe, and the USA.