sakartvelo
catalyst
fund
Our Tenets
Honest
Honesty is the cornerstone of long-term success. In regions where trust has been fragile or systems are still maturing, transparent behavior isn't just ethical, it’s strategic.
Ecosystems
We don’t invest in isolation, we invest in ecosystems. Startups thrive when they are surrounded by local talent, infrastructure, mentorship, and opportunity. We reject extractive models that uproot companies from their communities. Strong ecosystems outlast individual startups and uplift entire regions.
Builders
We build with founders from the ground up. Rather than chase trends or compete over the same batch of "hot" startups, we go where others don’t, and recruit those who are more interested in creating a great business than a great pitch.
Honesty is the cornerstone of enduring growth
International Credibility Starts at Home
Scaling globally doesn’t mean starting over. It means multiplying your base. And if your base is built on trust, everything you do abroad inherits that foundation.
ecosystems
Infrastructure Before Acceleration
An F1 car isn’t impressive in a place without roads. In early ecosystems, resilience beats velocity. Silicon Valley works because of decades of foundational infrastructure. Trying to replicate its outcomes without replicating its groundwork, or worse, trying to piggyback on someone else’s, leads straight to collapse.
we aim for breakout infastructure
Everyone wants to fund the next unicorn. No one wants to build the boring stuff. But here’s the truth: without the boring stuff, nothing survives.
Regions that try to leap straight into becoming innovation hubs usually collapse under the weight of skipped steps. Real power is built in layers.
Diversity of Outcomes Drives Resilience
A single unicorn doesn’t make an ecosystem. It makes a legend. Ecosystems become resilient when many kinds of companies succeed: small, mid-sized, profitable, weird. The variety is what sustains momentum when hype fades. The best ecosystems look like forests. They’re dense, messy, and alive, with many layers of growth.
Let's Build
Embedded Capital Outperforms Passive Capital
For millennia, the best outcomes have come from owners who know their land, their tools, and their markets. Passive capital builds portfolios. Embedded capital builds industries.
The future is being built by specialists who move with founders, not generalists who wait for results.
Success Is Engineered, Not Hoped For
You can’t wish your way to a breakout company. You have to build the systems, the people, and the brutal feedback loops that make one possible.
If you want momentum, you have to help carry the weight. The best ecosystems are built by people who are still carrying it.
All Markets Are Complex Now
When first-time builder-founders partner with established builders, who are deeply embedded in the industries they operate, when entering a complex market the results speak for themselves. Established asset developers bring guidance that is impossible in any other context.
Sector Targets
Creative Tech
Steppe and Stone invests in regions renowned for their rich storytelling heritage, dynamic creative communities, and digital innovation. These vibrant locations are poised to become global leaders in gaming, film, and television, bringing unique narratives to international audiences and connecting seamlessly to expansive markets.
Cyber Physical Systems
With strengths in engineering, data science, and design, our regions are natural hubs for building systems that seamlessly link the physical and digital worlds. These capabilities support applications in industry, energy, and urban life. By uniting hardware, software, and real-time analytics, they can deliver innovations that raise global standards for performance and reliability.
Agritech
Our target regions are natural leaders in agriculture with deep agricultural traditions just waiting to be transformed with cutting-edge technology. With fertile lands and strong export potential, these locations will drive global standards in agritech, sustainably addressing food security and agricultural productivity.
Transport & Logistics Tech
Strategically positioned with deep-sea ports and ancient trade routes, our chosen regions are redefining transport and logistics technology. Their pivotal locations allow them to serve as critical logistics hubs, pioneering innovative digital and sustainable solutions to connect global markets efficiently.