We back ambitious founders at the Friends & Family-Seed stage without throwing 99% of our bets to the wind.
Using both equity and beatable debt, founders get the capital they need with a chance to retain 100% ownership, and investors get downside protection. This means we don’t ignore thoroughbreds when hunting for unicorns.

We’ve been there,
now we’re here for you

Key Team
Jonathan Sun
General Partner
Sam Merullo
General Partner

Why it works with founders

Upside Potential
2 Paths
Freedom to pursue either venture-scale growth or build a profitable smaller business, without pressure to fit a single mould.
Founder-Friendly Terms
Win-Win
Only repay when earning over £2,500/month. Potential to retain 100% ownership if you choose.
Early Validation
Pre-Rev
Get funded at the idea to Pre-seed stage with proof of demand, empowering you to turn your concept into reality.

Challengers, Contrarians, Risk Takers, and Status Quo Breakers. Our companies are turning Venture upside down

LATEST NEWS
LATEST NEWS

Want to know more about our fund?

Commonly asked questions

What is CFEA (Convertible Future Earnings Agreement)?

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The CFEA is a hybrid debt-equity instrument designed to allow early stage founders maximum flexibility and peace of mind. Learn more how it works here.

Who is Stepex?

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Stepex is our FEA servicer- running all the promotions, maintenance and due diligence.

What are we looking for in a founder?

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Brilliant founders. Founders who will do well in whatever they do in life - and who have the passion, extraordinary drive and vision to create game-changing businesses.

Those with solid earning potential. Due to inherent and learned skillsets, education (but we are not obsessed with this) and previous work experience.

• Has a project which has product-market fit, and strong exit potentials, or income generation standpoint.

Validation. Proof that the product works, proof that the market is large and wide, and that appetite remains. For more information on how you validate a business, click here.

Is the CFEA the same as a loan?

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No. There are key differences between a loan and a CFEA.

• A CFEA does not accrue interest. Payments are based on income levels, you simply pay back by way of 10% of any income you earn.

• The amount you pay back is capped. There are no tricks or gimmicks.

• A CFEA does not have a contractual amount that is due. There is a maximum amount that can be repaid, but in certain circumstances you may pay back less than you receive.

Why take investment from UpsideDown?

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Venture capital increasingly only invests into businesses who fulfil the £1 Billion unicorn growth model. But there are plenty of phenomenal businesses out their who do not fit that mould.

UpsideDown fills this funding gap in through the Convertible Future Earnings Agreement. We are use your future income potential as a way to underwrite and fund your idea or business. UpsideDown’s structure is more flexible and less burdensome than debt and enables founders to retain a greater stake of their business.