Investor Viktor Orlovsky reveals his mental model for evaluating founders: he compares new prospects to his "role models" of obsession and leadership. This method of pattern-matching against successful archetypes from his portfolio helps him decide who to back.

Second-time founders (“Act II teams”) possess a unique advantage. They can solve the same core problem but with complete clarity from the start, knowing the edge cases and organizational structure required. This allows them to leverage modern technology while avoiding the mistakes of their first venture, as seen with the founders of Workday and Affirm.

If you've had past success with a CEO, it's a strong indicator of their talent and execution ability. Following them to their next company, as one investor did with a CEO across three separate ventures, can be a highly effective investment strategy that leverages a proven track record.

The firm's head of GP recruiting systematically reaches out to successful founders on the anniversary of their company's sale for several years, waiting for the right moment when they are ready for a new challenge. This patient, long-term approach is key to landing top talent.

A founding team with a long history of working together across multiple ventures is highly predictable for investors. Their viewpoints and dynamics are established, de-risking the "team" component of an investment by removing the need for discovery.

The firm’s core belief is being a fund *for* founders, trusting them to run their companies without heavy operational input. This hands-off approach gives partners the bandwidth and "permission" to go deep on their own projects, leading to spinouts like Anduril and Varda.

Forbion's success stems from its diverse team, which goes beyond typical MDs and PhDs. By integrating partners with backgrounds in banking, physics, and finance, the firm evaluates deals holistically—assessing not just the science but also deal structures, risk mitigation, and exit strategies like M&A and IPOs.

A VC's predictive model for evaluating founders includes an unusual but important metric: whether the founder stayed in the CEO role throughout their previous venture. This indicates resilience and leadership capability, making it a valuable signal for investors.

The most potent source of new, truly cutting-edge investment opportunities isn't inbound emails or demo days, but rather the networks of the exceptional founders and scientists you've already backed. These individuals are at the frontier and can identify the next wave of talent.