Outcomes & Anti-portfolio
Capture realized outcomes, generate LP reports, log the anti-portfolio, and re-weight the scorecard into the next cycle.
Investment Guide: Next: record the realized outcome — exit / markup / write-off + return.
Resolve the due clocks
Resolve the validation clocks that are due.
T2
No company is in this fund's scope on this step — switch the fund, or source deals that fit its mandate. Nothing to commit here.
Skriptr AS
Predecessor-history reconciliation fails: the ~12-18 month operating history and ~150-iteration / ~150-paying-user claims do not survive register/contract verification (JUVO student-company IP, user base or revenue did not cleanly transfer to the ~6-month-old AS), invalidating the seed-stage read. — due 2026-09-14
Skriptr AS
Valuation/cap-stack overhang kills the next round: the ~NOK 90-100M post (10x an unachieved NOK 1M ARR, ~90-250x current revenue) plus undocumented Antler-affiliated convertible terms create a cap table later investors will not clear without a reset. — due 2026-09-14
Skriptr AS
Series A trigger missed: current ~NOK 4-25k MRR cannot bridge the ~40-250x gap to NOK 1M MRR within the runway, so the company exhausts the ~NOK 3M plus this round without hitting the financing milestone and faces a down round or bridge. — due 2026-09-30
Skriptr AS
Incumbent erosion: Google NotebookLM and general LLM tools close the Norwegian-academic-writing workflow gap faster than Skriptr deepens its wedge, collapsing the ~6-12 month moat window and stalling paid conversion before the unbuilt LMS switching-cost moat ships. — due 2026-12-14
Skriptr AS
The durable moat stays a hypothesis: Canvas/Brightspace/Inspera LMS integration (Q4 2026 roadmap) and multi-vendor LLM abstraction are never delivered or delivered late, leaving a thin wrapper exposed to single-vendor (OpenAI) pricing/policy shocks and trivial substitution. — due 2026-12-31
Skriptr AS
Distribution never clears the economics: the ~NOK 2M budget across 5 unallocated channels fails to deliver the ~125k signups (at 1% conversion) implied by the NOK 1M MRR target, because paid-acquisition CAC exceeds NOK 100-300/mo LTV in a thin niche. — due 2027-03-14
TALK TO THE PROGRAM — about this sub-step