Almost certainly not, because we invest in startups which have their own world-class product and technology teams. 

We have observed that outsourced  teams are unlikely to share the core intellectual property they’ve used to create a technology platform with their client, and it’s that core intellectual property which is the real value in the startup.

There may be rare exceptions, where a startup can show that it is already in the process of making a successful transition from an outsourced team to an inhouse team, or where the startup has been created in a ‘startup studio’ model where the studio remains a significant shareholder in the business and is committed to the long-term realisation of that value.