For Tatiana Jama. The ≥30% rule, machine-inspectable per portco — defensible to the EIF, Tibi 2, and the final-close LPs.
Substrate is the operational form of the rigor you already named.
cases/sista · audit_chain_v1 · methodology_overlay_v1
One rule, enforced from day one. One arc — NGO → fund → EIF anchor — that compounds it.
Every deal screen since Oct 2022 is gated on one rule: ≥30% female founder shares in the cap table at investment. The 4 themes — Fintech, Healthtech, Frontier Tech, Sustainability — sit on top. NGO (2018) → Fund (2022) → EIF €30M anchor (Nov 2024, EIF's largest gender-equality investment to date).
Founder & Managing Partner. Serial entrepreneur (Dealissime → Amazon 2011, Selectionnist, Levia.ai) · 30+ angel investments.
Maddyness, April 2024: "after reflecting, data structuring, and bringing entrepreneurs together, SISTAFUND goes further to participate directly in the reduction of this funding gap."
- 01Post-Gallo restart · late 2025 · "reinforced rigor and ambition."
- 02EIF quarterly gender-metric + InvestEU sectoral cycle — first cycle in flight.
- 03Tibi 2 ends 2026. The next six months turn audit-grade evidence from useful into required.
Five dimensions sit under the rule. The question is whether each one is reconstructable per portco on a 24-month look-back.
FIG. ── PER-PORTCO EVIDENCE REGIME · 5 DIMENSIONS × (TODAY · UNDER EIF / TIBI 2 / FINAL-CLOSE REGIME)
Same evidence, three readers, one source of truth — the chain names when the rule held, what evidence-mode verified it, and what the cap-table did next.
Two primitives sit underneath the ≥30% rule — audit chain and methodology overlay. The rule becomes a deterministic test, not a periodic recalculation.
Hash-chained, append-only log of every per-portco cap-table or sectoral event. Each entry carries an evidence-mode tag: founder-attested / Sunshine-validated / lawyer-certified.
The ≥30% rule becomes a deterministic test against the chain — not a periodic recalculation from PDFs. Dilution risk is a continuously-tracked field, not a discovery at the next round.
One inspectable YAML per portco — cap-table snapshot, theme weights, EIF + Tibi 2 reporting tags, gender-impact KPIs. Version-controlled, diff-able quarter over quarter.
The rule is the schema gate; the 4 themes are the sections. When EIF tightens or Tibi 3 lands, the schema gets a new field and the chain regenerates compliant reports without reconstructing from scratch.
FIG. ── AUDIT CHAIN · CAP-TABLE EVENT BLOCKS · APPEND-ONLY · EVIDENCE-MODE TAGGED · NEVER-DELETABLE
FIG. ── ≥30% RULE AS SCHEMA GATE · PER-PORTCO EVENTS → AUDIT CHAIN + L2 OVERLAY → 3 READING FRAMES
The rule has held since October 2022. Pressure-test the substrate that makes it machine-inspectable per portco.
The substrate answers in its own voice — the same primitive we'd install on three SISTAFUND portcos for one quarterly cycle in Phase 0. Not a demo. The actual reasoning surface.
STREAMING · κ ≥ 0.85 · ANONYMITY HOLDS · CITATIONS BY DEFAULT
Three portcos. One quarterly cycle. An LP-reporting page per portco, plus a one-click EIF cycle output.
Consumer-impact thesis · conviction-led diligence encoded as substrate before scale.
Healthtech specialist · pre-clinical evidence asymmetry · dual-pathway diligence as substrate.
Youth mental health · evidence-mode tagging across pre-clinical signal and lived experience.