Reconstructed first-round book from the research data, not a scrape of today's website. Public portfolio pages over-report winners, and this graph has the same public-data bias. Investor edges are essentially Crunchbase through late 2015, plus Y Combinator.
Research book · 3-year follow-on
Novitas Capital vs Kairos
Not ranked
Whole-book follow-on hit rate 80.0% (4 of 5 labeled deals). 95% Wilson interval 37.6%–96.4%. Vintage-weighted base rate 40.8%. This is not a fund return.
Not ranked. A book needs at least 15 labeled deals with a vintage base rate. This one has 5.
Vs same-vintage base rate
+39.2 pp
80.0% on 5 deals vs 40.8%
Vs median VC book
+29.4 pp
80.0% on 5 deals vs 50.6%
Vs top-quartile VC
+13.5 pp
80.0% on 5 deals vs 66.5%
Vs Y Combinator
+21.1 pp
75.0% on 4 deals vs 53.9%
Ranked when at least 15 labeled deals have a vintage base rate. Rank is the average-rank percentile of shrunk excess (20 pseudo-deals at that book's vintage base rate) among eligible VC books that clear the same minimum. 100 is best. The whole book is never compared to Kairos's top-50 hit rate.
What Kairos would have said
Scores are the model’s percentile at each company’s first observed funding event, not at a later round. That matches this fund’s entry only when the fund was in the first-round syndicate. A deal is flagged when its percentile clears that vintage’s top-50 cutoff. The whole book is not compared to the top-50 hit rate.
Deals with a score
5
Mean model percentile
61
Flagged deals
11/1 followed on
Five-year exit, secondary
Five-year exit labels are observable mainly for 2005–2010. A missing later exit is not counted as a failure. This panel is not the ranking.
Hit rate 20.0% (1 of 5). 95% Wilson interval 3.6%–62.4%.
Vs exit base rate
+7.8 pp
20.0% on 5 deals vs 12.2%
Vs median VC exit book
—
No overlapping vintages
Vs top-quartile exit book
—
No overlapping vintages
Companies
5 labeled follow-on deals, 0 matched without an observable label (dropped, not counted as failures).
| Company | Vintage | Follow-on | Kairos percentile | Flagged |
|---|---|---|---|---|
| LifeShieldlifeshield.com | 2004 | Yes | 96 | Yes |
| ClickEquationsclickequations.com | 2009 | No | 87 | — |
| Logical Therapeuticslogicaltx.com | 2007 | Yes | 49 | — |
| TOA Technologiestoatech.com | 2008 | Yes | 40 | — |
| BPL Globalbplglobal.net | 2007 | Yes | 31 | — |