How I invest at Common Magic (or, rather, things I believe to be true)

Sarah Drinkwater
2 min readAug 2, 2023

With my fund Common Magic newly live, I want to make it really easy for founders to know if my fund could be a fit for them.

Founders are the experts in their specific domains, of course, but there are lots of beliefs I hold that influence the decisions I make, and the kind of companies I like to invest in. This doc is a living and breathing list I’ll add to as my beliefs evolve or change; if you have 30 minutes, this 20Angel podcast could be another good introduction to me (I really enjoyed it).

Humans are toolmakers; I like products that enable users to be active not passive.

There should be many more technologies that centre privacy.

I like “Githubs for [field where there is currently no Github]”

Freedom is one of my highest values; I like companies that enable this for as many people as possible (could be economic freedom, mental, social, spiritual). Related; new power.

Just because a company is B2B doesn’t mean it can’t have the taste and style of a B2C company. People who work in companies are still people, and delightful experiences should be for everyone.

Advertising doesn’t work, or only works for very distinct transactions or companies. I don’t fund purely advertising-based models.

Some of the hardest problems of our time aren’t technical but social. Related; there’s deep commercial opportunity in products that enable alignment.

Companies built bottom up versus top down tend to be more resilient.

The best companies build worlds. That could mean distinct & deep internal cultures or through the look and feel of what they build.



Sarah Drinkwater

Solo GP Common Magic, investing in products with community at their core. Into communities, the best uses of technologies, London, looks and books.