M31 Capital · 2026 Strategy

Identifying paradigm shifts
before consensus forms.

M31 is a research-first investment intelligence firm. Not a traditional asset manager, hedge fund, or VC. We find, fund, and support the rare individuals who expand the human knowledge frontier and translate their insights into world-changing technologies.
The Mission
Humanity advances when someone discovers a new truth the world hasn’t recognized. We find, fund, and support the rare individuals who expand the human knowledge frontier and translate their insights into world-changing technologies.
Three Pillars
I
Research
Identify paradigm shifts using systematic frameworks and a 7-signal methodology. The intellectual engine of M31. Led by Nathan.
II
Investment
Deploy capital into paradigm shift opportunities. VIP principal-to-principal partnerships. Rigorous 100+ checkpoint due diligence.
III
Labs
Systematic support services to portfolio companies. Venture studio model. BD at 15–20% commission. Exit framework in development.
2026 Strategic Priorities
1
Systematize the Machine
Turn Nathan’s paradigm identification into a repeatable, scalable process
2
Scale Research Capacity
Research leadership, contributor network (20+), publications, advisory board
3
Deploy Current Fund
Execute strategy, upgrade DD to 100+ check process, build Future 50 tracking
4
External Presence
Brand relaunch, website, thought leadership, DFO relationship, public launch
5
Build Infrastructure
Planning machine, cadences, team clarity, Labs systematization
6
Lean into North Star
Clarify the underlying philosophy of how we want the world to work
Key Metrics for 2026
75%
Reduction in operational time for Nathan & Michael
20+
Contributors in research network
100+
Checkpoint due diligence process
Q2
Public launch + advisory board operational
M31 Capital · 2026 Road Map

The push, quarter by quarter.

From building the foundation to broadcasting the vision to operating at scale. Each quarter has a clear theme and a defined set of gates.
Q1 2026
Jan – Mar · Now
“Harden the foundation. Get the brand right. Advance the key relationships.”
Launch
Interlude brand system deliveredMar 6
Brand rollout — all platformsMar 13
Private preview: current investorsMar 20
HAUS messaging framework finalizedMar 27
Research
Ray DFO materials complete
Research leadership (Joe) — active
Research brief template
Advisory board program design
Investment
Investment process machine
Fund deployment plan
David transition complete
New fund strategy finalized
Management
Website live
Brand book complete
HAUS engaged
Fund structure decided
North star clarified
Ops
Team roles & expectations
Budget finalized
DFO relationship advanced
Foundational audits
Q2 2026
Apr – Jun · Up Next
“Go public. Start the conversation. Build the momentum.”
Launch
Client outreach beginsApr 1
Q1 Letter (new template)Apr 22
Public launch momentMay
Launch dinner / gatheringMay
Heretical Science: first eventMay 31
Earned media placementsJun
Research
Advisory board assembled
Contributor network (20+)
Speaker series begins
Deep Tech Week event
Investment
Future 50 table live
Deals flowing through machine
Promo materials created
VVIP tier designed
Management
Relaunch event
Key hires complete
Mgmt co raise in motion
Labs / Ops
Portfolio support systematized
VF exits progressing
Finance system live
Q3 2026
Jul – Sep · Horizon
“Operate at scale. Run the machine. Assess what’s working.”
Launch
Q2 Quarterly LetterJul
HAUS engagement reviewAug
Content engine operationalJul
Research
AI scanning integrated
Publication cadence mature
Investment
VVIP tier operational
KPI dashboards live
Labs
Exit framework documented
Ops
—
Q4 2026
Oct – Dec · Far Horizon
“Compound. Lock in the gains. Plan for 2027.”
Management
Annual summit
Research
Content at scale
Investment
Pipeline automation
75% operational time reduction
Labs
AI knowledge base
Accelerator designed
Ops
—
M31 Capital · Current Sprint

March – April push.

Five parallel workstreams. Each has its main project, active threads, and decisions that need to get made. This is what we’re running toward before the public launch.
Research
Nathan · Ryden · Joe
⚛ Quantum Brief — Main Project
The flagship research deliverable for this sprint. Working with Joe Miller on a deep brief covering the quantum computing thesis — threat landscape, opportunity map, and M31’s positioning and investment angle.
→ Ryden to meet with Joe: define scope, angle, key questions, and format
→ Build plan and timeline together — draft → Nathan review → final
→ Use existing Quantum Threat brief as foundation; identify the gaps to fill
→ Nathan reviews framing and confirms alignment with M31 thesis
Ryden + JoeNathan ReviewOwner: Ryden
Planning
HAUS — Confirm Positioning + Content Plan
HAUS messaging framework is due Mar 27. Before it lands, we need to confirm M31’s positioning direction and get Cassie aligned on content for next month and for launch.
→ Review and confirm positioning direction with Nathan before HAUS finalizes framework
→ Sync with Cassie on content calendar: articles, briefs, and launch content
→ Lock what gets written in April and what drops at public launch (May)
Nathan + JenDeadline: Mar 27
Active
Research Brief Template — Finalize
Lock the standard format, visual language, and distribution path for all M31 research briefs.
Nathan + Jen
Active
Board of Advisors — Program Design
Define structure, criteria, and onboarding approach. Need to be ready to start assembling the board in Q2.
NathanQ1 Target
To Do
Investment Team
Michael · Nathan · Jen · Ryden
Solidify the Investment Machine
Complete the design of M31’s investment process — sourcing through close. The operating framework that runs for years. Needs Nathan’s sign-off before we start running deals through it.
→ Review current process design with Nathan — get full alignment before locking
→ Michael documents: budget, risk controls, review cadences, audit framework
→ Once locked, begin actively running deals through the machine
Michael + JenReview with Nathan
In Progress
Start Running Deals Through the Machine
Once the process is locked, begin using it. Run current pipeline through the new framework to stress-test and validate it in real conditions.
Investment TeamPending process lock
Next Step
🔴 Decision: Circuit & Twism
Both need a decision. Define the outstanding questions, get the necessary information, and make the call.
→ What does a yes look like for each? What are the blockers?
→ Run through investment machine once process is locked
Nathan + Michael
Decide
🔴 Decision: Anduril
Make a final decision on Anduril participation. Define what we need to know and set a deadline for the call.
Nathan + Michael
Decide
Project Genoa
Active project stream. Michael lead — add detail and next steps as appropriate.
Michael
Active
Project Scimitar
Active project stream. Michael lead — add detail and next steps as appropriate.
Michael
Active
Fund Deployment Plan — Get in Sync
Full team alignment on how we deploy the current fund: framework, pace, and thesis alignment across all three partners.
Nathan + Michael + Jen
In Progress
Deep Tech Week Event — Push Forward
An external moment for M31. Need to define format, scope, and what we want to get out of it before we commit resources.
→ Define event concept, audience, and M31’s role
→ Align with HAUS on how this fits into the launch narrative
→ Set timeline and assign next concrete step
RydenOwner: Ryden
To Do
Heretical Science Speaker Series — Needs Owner + Timeline
First activation planned May 31 with HAUS. But there is no internal owner and no concrete plan. This needs to change now — May 31 is closer than it looks.
→ Assign internal owner immediately
→ Work with HAUS to define format, speaker criteria, and venue concept
→ Build backward from May 31 — what needs to happen by when?
TBD — needs ownerDeadline: May 31
Needs Owner
Labs
Jen (David Transition)
Get a Handle on Key Companies — David Transition
David has transitioned. We need to fully understand what we have, what each company needs, and what our role is going forward. This is the foundation for everything else in Labs.
→ Complete download from David on each key company: status, relationships, open items
→ Audit current portfolio: who needs active support, who is in exit mode, who is dormant
→ Define what Labs support looks like for each company going forward
→ Flag any urgent issues that need immediate attention
JenMarch Priority
In Progress
Systematize Labs / Portfolio Support
BD services at 15–20% commission. Define the accelerator model and support framework. Builds on the portfolio audit above.
JenFollows portfolio audit
In Progress
Management
Jen · Nathan · Michael
Team Design — Figure Out How We Fund the Machine
We need to decide how we’re staffing up: who gets offers, at what level, funded how. Joe, Sam, and Howie are all in play. This needs to be resolved before we can move forward on the research and ops buildout.
→ Decide on offers for Joe, Sam, Howie — structure, compensation, role scope
→ Align on how the mgmt co raise fits into funding the team
→ Full team clarity on roles and expectations by end of March
Nathan + Jen + MichaelMarch Critical
Must Do
Finalize Ray Email + Approach
Materials are complete. Now finalize the outreach strategy — tone, timing, and what exactly we’re asking for in the first contact.
→ Nathan + Michael align on the ask and approach
→ Draft and finalize the email
→ Send
Nathan + Michael
Must Do
North Star / Philosophy Articulation
Clarify the underlying philosophy of how M31 wants the world to work. Feeds into brand, positioning, and the investor narrative.
Nathan
To Do
Fund Structure Decision
Finalize and document the fund structure going forward.
Michael
To Do
Ops
Michael · Jen · Howie
Audit — Complete & Report Out
Foundational audits are overdue. Michael to complete and report back with findings and any flags.
→ Complete foundational audit and risk control reviews
→ Report findings to Jen + Nathan with any open items or blockers
MichaelOwner: Mike
Behind
🔴 MetaKeep / Rezolve M&A — Resolve & Decide Next Steps
Active issue with MetaKeep + Rezolve M&A situation in play. Understand what happened, fix the immediate issue, and determine what our position looks like going forward in context of the M&A.
→ Diagnose the MetaKeep issue fully — what went wrong and why
→ Resolve the immediate problem
→ Assess Rezolve M&A implications for our position
→ Decide: continue, renegotiate, or wind down
Michael + Howie
Resolve Now
Brand Rollout Execution
Coordinate Interlude delivery (~Mar 6) and same-day rollout: website swap, LinkedIn, email signatures, all templates.
Jen + HowieMar 6 trigger
Active
Cadences & Reporting — Full Rollout
Meeting cadences and reporting rhythms are designed. Now rolling out across the team.
Jen
In Progress
Budget Finalization
Complete and sign off on the 2026 operating budget. Currently behind.
Michael
Behind
M31 Capital · Project Registry

All workstreams & projects.

Organized by workstream → project → task. Click any project to expand its tasks. Deadlines marked ~est are estimates pending confirmation.
Workstream
All Research Investment Management Labs Brand & Comms Ops
Priority
All Must-Do High Medium Behind
Status
All Open Done
M31 Capital · Weekly Priorities

Week by week.

What needs to happen, in the order it needs to happen. Includes BAU and day-to-day operational tasks that keep the machine running.
Week of Mar 10
Mar 10 – 14 · NOW
1
Brand system delivery from Interlude — trigger same-day rollout
Website swap, favicon, meta images · target, imminent
Must-Do
Howie + Jen
2
LinkedIn company page & team profiles update
All profiles updated within 1 week of brand delivery
Must-Do
Jen + All Team
3
Email signatures — create and distribute to all team
New logo, tagline, links · deadline
Must-Do
Jen → All
4
Ryden meets Joe: define Quantum Brief scope, angle, plan + timeline
Main research project for the sprint · set milestones now
Must-Do
Ryden + Joe
5
Investment Machine: sync with Nathan — lock process design
Was due · needs to happen this week
Behind
Nathan + Michael + Jen
6
Ray email: finalize approach and send
Materials done · now align on ask and send
Must-Do
Nathan + Michael
7
Audit: Michael completes foundational audit + risk control reviews
Overdue from February
Behind
Michael
8
Metakeep issue: diagnose, resolve, and decide on next steps
Active issue · Howie leads, Michael loops in
Resolve
Howie + Michael
9
Team offers: align on Joe, Sam, Howie — structure + comp
Needed before we can build out the research + ops machine
Must-Do
Nathan + Jen + Michael
10
Portfolio companies audit: complete David download, map each company
Foundation for Labs systematization
Active
Jen
Week of Mar 17
Mar 17 – 21
1
Brand rollout complete — all platforms confirmed updated
Milestone gate: AngelList, Crunchbase, PitchBook, DocSend, LP portal ·
Must-Do
Jen + Michael + Howie
2
Pitch deck in new template
Deadline
Must-Do
Jen
3
Research brief, quarterly letter + one-pager templates
Interlude + Jen · deadline
Must-Do
Interlude + Jen
4
Private investor preview: personal outreach to current investors
Wave 1 · deadline
Must-Do
Nathan + Jen
5
Portfolio companies notified + co-branded templates delivered
Deadline · Jen + Candice
Must-Do
Jen + Candice
6
Quantum Brief: first draft outline + research plan locked with Joe
Ryden + Joe working from scope defined week 1
Active
Ryden + Joe
7
Decisions: Circuit, Twism, Anduril — make the calls
All three need resolution before they drag further
Decide
Nathan + Michael
8
Heretical Science: assign internal owner & kick off planning with HAUS
is 10 weeks away · needs to start now
Needs Owner
TBD
9
HAUS: confirm positioning direction ahead of Mar 27 framework
Nathan + Jen review HAUS draft, give directional feedback
Active
Nathan + Jen
Week of Mar 24
Mar 24 – 28
1
HAUS messaging & positioning finalized — gate for all public comms
Deadline · gates Wave 2 outreach and all public content
Must-Do
HAUS + M31
2
Content strategy & calendar approved
Deadline · locks what runs in April through launch
Must-Do
HAUS + M31
3
Launch materials package (deck + one-pager) with finalized messaging
Deadline
Must-Do
Jen + HAUS
4
Website copy updated with finalized messaging
Deadline
Active
Jen + HAUS + Howie
5
Boilerplates, team bios, talking points standardized
After HAUS framework lands · deadline
Active
HAUS + Jen
6
Quantum Brief: draft in progress — Nathan review checkpoint
Ryden + Joe working · Nathan provides directional feedback
Active
Ryden + Joe + Nathan
7
Sync with Cassie: lock April content calendar + launch content plan
What runs in April, what drops at launch (May)
Active
Nathan + Jen + Cassie
8
Deep Tech Week: define concept + scope + timeline
Ryden leads · needs to be scoped before April
To Do
Ryden
Week of Mar 31
Mar 31 – Apr 4
1
Tailored client outreach begins — Wave 2
With finalized messaging + launch materials package ·
Must-Do
Nathan + Tom
2
Content distribution begins: 2–4 articles/month live
LinkedIn, X, newsletter · HAUS leads
Must-Do
HAUS
3
Quantum Brief: final draft ready for Nathan review
Joe + Ryden finalize · Nathan does final review pass
Active
Joe + Ryden + Nathan
4
Heretical Science: format, speaker criteria, venue concept confirmed
Working backward from · need concrete plan by now
Must-Do
Owner + HAUS
5
Deals through investment machine: first round of active pipeline
Test the process with real deals
Active
Investment Team
6
Fund deployment plan: full team alignment locked
Nathan + Michael + Jen
In Progress
Nathan + Michael + Jen
Week of Apr 7
Apr 7 – 11
1
Q1 Quarterly Letter: writing begins (first in new template)
Due · Nathan leads with M31 team
Must-Do
Nathan + M31
2
Quantum Brief: published to research brief format + distributed
First major research output of the sprint
Must-Do
Ryden + Joe
3
Client outreach in full swing — track responses + follow-ups
Wave 2 · deadline for initial send
Active
Nathan + Tom
4
Advisory board: begin identifying and approaching first names
Nathan · aim to have 3–5 targets identified
To Do
Nathan
5
Contributor network: begin outreach to first 5 potential contributors
Building toward 20+ by Q2
To Do
Nathan
BAU & Day-to-Day Operations

These run every week regardless of sprint. They keep the machine operational and investors informed.

Leadership & Ops
Partners meeting / weekly sync Weekly
Budget monitoring & spend review Weekly
Risk & compliance check Weekly
Team check-ins (Jen) Weekly
Plan site & tracker update Weekly
Hiring pipeline review Bi-weekly
External relationships follow-up Bi-weekly
Investment
Investment pipeline review Weekly
Deal flow triage & responses Weekly
Portfolio company check-ins Bi-weekly
Investor communications As needed
LP portal updates Monthly
DD pipeline progress Weekly
XAI / portfolio news monitoring Daily
Research & Content
HAUS content approval cycle Weekly
Research brief publishing (when ready) Monthly
Paradigm signal scanning Daily
Nathan writing & synthesis Ongoing
Substack / newsletter send Monthly
LinkedIn & social publishing 2–4x/week
Contributor network engagement Weekly
Michael — Ops & Finance
Investor Relations — calls, questions, onboarding, redemptions, intros Ongoing
NAV inquiries — reconciliations, accounting, reporting Monthly
Audit inquiries — funds, SPVs, valuations As needed
Legal — entity registrations, filings, form ADVs Ongoing
Risk policies & procedures — TAP changes, hardening systems Ongoing
Monthly portfolio dashboard — performance, fees, health Monthly
Monthly expenses — payments, budget vs. actuals Monthly
Annual Recurring — Michael

These happen on an annual cycle. Worth tracking so nothing slips through as the year gets busy.

Vendor Risk Reviews
Annual review of all vendor relationships
Document risk level, access, exposure
Vendor DD Assessments
Due diligence on key vendors & service providers
Refresh documentation and contracts
Data Room Refresh
Update LP data room with current docs
Confirm all materials are current and branded
Quarterly GP Update
GP update letter / communication to LPs
Q1 due Apr 22 — first in new template
Budget & Forecasting
Annual budget build + partner sign-off
Quarterly reforecast vs. actuals
M31 Capital · March – April Sprint Tracker
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M31 Capital · Focus View

Nathan’s week.

Week of March 17 · Things only you can move.
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