A question on a side digression: "falls within our thesis" - I often hear/read the term "thesis" being used by investors, and I am curious what exactly is meant by it. Is a thesis a tome of 100+ pages? Is a thesis two sentences, something like "we think that local/mobile/social will be hot this year"?
An investment thesis is basically a hypothesis about what sort of companies will do well as investments. Some investors don't have a specific thesis, and will invest in any company that looks good to them. Others have a specific take on the startup ecosystem. For example an investor might believe that infrastructure companies are a great bet going forward, or they might think that the sharing economy is the right bet, or, as in case of my fund, they might think that companies building valuable and proprietary datasets (and tools for working with those datasets) present the best opportunities. If an investor has a thesis, they will invest exclusively or mostly in companies that fall within that thesis.
It means, not much. More akin to the ivestor has thought about it before. In this case, 'thesis. As in 'Hypothesis', but abbreviated. Not like a shorter version of a dissertation. The investment is "hypothesis testing", by creating a data set, to see if it should be rejeceted. etc
