Conviction that earned its scars.
Every memo is a decision wearing prose. Wavn pushes back on the thesis before the money moves, and keeps the dissent for the day the follow-on question arrives.
Investing is the purest decision business there is, and the most haunted by hindsight. The deal you passed on, the follow-on you defended, the thesis that quietly aged out: what separates a firm from a lucky streak is whether the reasoning was real at the time and whether anyone can still find it. Wavn gives the thesis its pushback while the money is still yours, locks the call with the bear case attached, and brings the position back for re-judgment on a date, not on a mood.
Where the cost of getting it wrong is real.
A pass is a decision too, and the ones that haunt are the ones with no recorded reasoning to learn from.
New money into an old position is where discipline goes to die. The original thesis should be on the table, as written.
Market theses rot silently. A revisit date is the difference between updating and rationalizing.
The IC memo should carry the strongest case against, not a courtesy paragraph of risks.
Your workflow, with the thinking kept.
The bear case at full strength
Wavn makes the case against every deal you are about to love, before the money moves.
The thesis, dated and owned
What you believed, when, on what evidence. Fund-returner or write-off, the reasoning stands.
Positions re-argued on schedule
Every position returns at the next round, argued against what the company actually did.
The anti-hindsight machine
What the firm knew at the time, kept as it was. Post-mortems stop being archaeology.
The memo, finished
IC memos, diligence summaries and comparison sheets as real files, sources shown.
Said, decided, built. Then it comes back.
A single confident answer is never trusted alone.
In your field, confident and wrong is expensive. Wavn pushes back with the case against, and says what your own material does not support. Then the call is yours, on the record.
A seed fund
A portfolio company asks for a bridge. The founding principal championed the original check, and everyone in the room knows it, which is exactly the problem.
- The original locked thesis is pulled up, as written, next to what the company actually shipped.
- The bridge is talked through: the pivot, the burn, and the signal a pass sends, each at full strength.
- The call locks, a smaller bridge with milestones, dissent kept in both directions.
- The terms summary and the milestone sheet arrive as files; the revisit is set against milestone one.
Wavn is not an analyst and gives no investment advice. What it does is make sure your conviction was argued while the money was still yours, and keep the reasoning for the day the next round asks.
Bring it to your investing work. Start free.
Free to start. Conversations and locked decisions are never counted, on any plan.