Next Wave Partners is a new kind of venture studio on a mission to transform early-stage technology investing through institutional-grade research, venture building, and financial innovation. We help angel investors, early-stage venture capital funds, and corporate venture funds discover and access tomorrow's transformative companies before they reshape markets.
We believe the next technological long wave will create unprecedented opportunities for those who can identify and access transformative companies early. Our team of technology researchers, investment professionals, and venture operators works alongside startup founders to discover, evaluate, and capture these opportunities before they reshape markets.
Subscribe to Next Wave Partners
For accredited investors seeking privileged access to transformative technology companies.
What You Get:
Research & Intelligence
- Industry Deep Dives: Comprehensive research of emerging technologies and market opportunities
- Company Research: Detailed reports on rising technology companies reshaping industries
- Market Intelligence: Regular insights on competitive dynamics and sector trends
- Real-time Updates: Timely analyses of market developments and emerging opportunities
Exclusive Access
- Deal Flow: Priority access to investment opportunities in companies advised by Next Wave Partners
- Direct Engagement: Connect directly with founders and leadership teams
- Private Community: Join our network of sophisticated technology investors
- Events & Briefings: Exclusive roundtables and briefings with industry experts
Strategic Support
- Partner Access: Direct engagement with our team for insights and guidance
- Due Diligence: Comprehensive analyses supporting investment decisions
- Portfolio Support: Strategic guidance and operational expertise for portfolio companies
OUR STORY
Two founders vow to create a better model for venture building
In the spring of 2022, after a particularly difficult startup experience, two seasoned and successful founders paused to reflect on their several decades as entrepreneurs. Then, they took a hard look at the data.
Everyone knows the failure rate of new ventures and the poor returns for investors in light of the high risk. The widely touted figure is somewhere between 75% and 90% of funded startups eventually fail without producing a return for investors. The average return across the entire category of venture capital is less than the S&P 500 for the last twenty years.
If investor results are challenging, the results for founders are often worse. According to one study of 212 funded American startups by professor Noam Wasserman, fewer than 50% of founders remain in control of their own companies by the time they are only three years old. In year four, just 40% of founders remained. Fewer than 25% of founders eventually lead their companies to an exit. Yet even with the deck stacked against them, founders still sign up for the entrepreneur journey. They do what they have to do.
Today's early stage model doesn't work for investors, it doesn't work for founders, but it also doesn't work for the public good. Imagine if railroads, factories, the Internet, or any of the major technological achievements of the last century had to be built strictly in the ten-year investment horizon of a venture capital fund? They would have never happened.
A New Kind of Venture Firm
Next Wave Partners emerged from this reflection with a radical reimagining of venture capital. We combined institutional-grade research with hands-on venture building to create a model that works better for everyone:
- Aligned Incentives: Our Safer financing instrument ensures founders maintain control while investors get predictable returns aligned with company growth.
- Research-First Approach: We identify transformative opportunities through rigorous technological long-wave analysis and market dynamics.
- Hands-On Building: Our experienced operators work directly with portfolio companies to accelerate growth and reduce execution risk.
- Sustainable Structure: Our evergreen model enables long-term support of breakthrough innovations that traditional VC timeframes do not accommodate.
This foundation supports our core strengths:
- Amazing People: We unite world-class operators, researchers, and subject matter experts to build transformative companies together.
- Structured Execution: Our systematic approach leverages decades of startup experience to avoid common pitfalls and accelerate success.
- Research Obsession: Our data-driven process identifies sustainable opportunities and eliminates selection bias early, focusing resources where they'll create maximum impact.
Leadership Team
Meet the Founders
John Cowan
Founding Partner
John Cowan is a seasoned architect of disruptive innovation, bringing over two decades of experience in venture creation and leadership to the forefront of the next technological revolution. His services encompass:
Venture Building: Leveraging his deep experience as a serial entrepreneur, John guides founders and corporations through the intricacies of building scalable, sustainable ventures. He employs a hands-on approach, integrating cutting-edge methodologies to accelerate growth and mitigate common startup pitfalls.
Corporate Development: John assists established companies in navigating the complexities of digital transformation and disruptive innovation. His expertise lies in identifying opportunities at the "Innovation Frontier" - the intersection where established industries meet emerging technologies.
Governance: Drawing on his experience as a board member and CEO, John helps companies establish robust governance structures that balance oversight with strategic flexibility. His approach emphasizes transparency, accountability, and alignment with long-term stakeholder interests, crucial elements in the rapidly evolving landscape of Next Wave Innovation.
Capital Raising: John has a wealth of experience securing venture financing, having raised capital as a founder and CEO. His innovative approach to capital raising, including developing and pricing risk models utilizing new investment instruments like the Safer, addresses the limitations of traditional venture capital models. John creates win-win scenarios for investors and founders, fostering sustainable growth and value creation.
John is also the author of the highly popular Venture Capital 2.0 Newsletter.
James Thomason
Founding Partner
James Thomason is a visionary technologist and investment strategist at the forefront of Next Wave Innovation. With over 25 years of experience in early-stage companies and deep technical expertise, James offers a unique blend of services that bridge the gap between cutting-edge technology and strategic investment:
Private and Public Securities Research: Leveraging his experience in developing proprietary hedge fund strategies, James provides in-depth analysis of both private and public securities. His approach goes beyond traditional metrics, incorporating a deep understanding of technological trends and their potential market impact. James's research methodology identifies opportunities that others might overlook, particularly in companies positioned to capitalize on emerging technologies.
Technology Industry Mapping: Drawing on his extensive experience across multiple technology sectors, James offers detailed mapping of technology products and industries. This service helps clients navigate complex ecosystems, identify potential partnerships or acquisition targets, and understand the interplay between different technological advancements.
IP Analysis: With many patents to his name in cloud computing, virtualization, edge computing, and peer-to-peer networks, James brings a wealth of experience to IP analysis. His services in this area include assessing the strength and potential of technology patents, identifying IP-related risks and opportunities, and developing strategies to maximize the value of intellectual property portfolios.
Product Engineering: James's product engineering services draw on his deep technical expertise and track record of successful product development. He guides clients through the entire product development lifecycle, from conceptualization to launch, with a focus on creating innovative, market-leading solutions. His approach, informed by his experience with companies like Dell and his work on emerging technologies, ensures that products are not only technically sound but also strategically positioned for market success.
Ben Buettell
Managing Partner
Ben Buettell brings a wealth of experience in financial strategy and investment management to the forefront of Next Wave Innovation. With over two decades at Houlihan Lokey and his co-founding role at R7 Partners, Ben offers a unique blend of services that bridge traditional financial expertise with the dynamic world of emerging technologies:
Fund Management: Drawing on his experience co-managing R7 Partners, Ben provides comprehensive fund management services tailored to the unique challenges of Next Wave Innovation. His approach emphasizes strategic capital allocation, investor relations, and SPV fund structuring that aligns with long-term value creation.
Portfolio Management: Ben's portfolio management services leverage his experience evaluating and nurturing early-stage technology companies. His approach goes beyond traditional metrics, incorporating a nuanced understanding of technological trends and market dynamics.
Mergers and Acquisitions: Ben's extensive experience in M&A, having led over 200 corporate transactions at Houlihan Lokey, provides clients with expert guidance through complex deal structures. His services include deal origination, due diligence, valuation, and negotiation, focusing on transactions that leverage or enhance technological innovation.
Fiduciary Services: Ben offers comprehensive fiduciary services based on his experience co-heading Houlihan Lokey's Fairness and Solvency Opinion Practices. These include advising boards of directors on their fiduciary duties and ensuring compliance with regulatory requirements. His approach emphasizes transparency, accountability, and alignment with stakeholder interests, which are crucial elements in the rapidly evolving landscape of Next Wave Innovation.