Memex

Memex is a tool for personal and collaborative research on the web, founded by Oliver Sauter. When they decided to commit themselves to steward-ownership, all traditional and institutional venture capital investors dropped out, leaving them in a tough spot. Like many startups, Memex needed funding for early-stage fast growth but wanted to align it with their values. Their solution was to design a financial instrument offering competitive returns while keeping them limited.

To achieve this, they used redeemable equity – shares that the company repurchases in the future – creating a clear cap on investor returns. The challenge was attracting investors willing to accept these limits, breaking the typical risk-return logic of VC investments. To address this, they used Fairmint.com’s Community Shares to reduce investor risk and make the model more appealing.

Oliver Sauter emphasizes the importance of explaining steward-ownership to investors during pitches: why the model is chosen, what it means, and how investments can work within this framework. He believes there's a significant need for investor education in this area and sees steward-ownership-aligned financing as particularly suitable for strategic investors and business angels.