Triage. Then the unsaid.
Three thesis cutoffs run in seconds. Then we read what the deck didn't say — Vani's gift. Conviction starts in absence, not presence.
Agentic security automation with measurable outcomes (CVE caught / mean-time-to-disclose) — fits THV's outcome-tethered AI thesis.
Proprietary attack-graph engine + curated hacker network. The LLM is a copilot, not the product.
Lisbon-based team running a global hacker marketplace. Cost of senior offensive talent in PT ~3.4x cheaper than US, output parity verified.
The most expensive sentences in venture are the ones never written. Below: gaps in this deal that should bend conviction down or trigger a press call.
- No mention of churn after first renewal — common red flag in security tooling.
- Hacker-network LTV not stated in the deck (only customer LTV).
Both wrapper and arbitrage clear. Thesis aligned. Move directly to conviction-building. No press required for triage stage.
Live triage on a fresh deal.
Drop in a deck blurb, founder email, or company URL. The same three cutoffs run on it in real time. No black boxes — every score traces to its inputs.