Deep Tech, with structure-aware discipline

Technical diligence dominates. Deep tech underwriting depends on evaluating the technology, not just the market. Structured technical diligence rubrics are essential.

IP is often the asset. Patents, trade secrets and know-how frequently drive value. IP portfolio tracking is first-class, not an afterthought.

Capital deployment is milestone-based. Rounds are triggered by technical milestones rather than metric milestones. Milestone tracking drives capital planning.

Cycles are long. Deep tech companies frequently take a decade or more to exit. Portfolio management needs to persist that long.

Deep Tech carries 8 sub-asset overlays in the Reuben AI rubric registry: Quantum, Advanced semiconductors, Robotics and automation, Advanced materials, Photonics, Fusion, Neurotech and Synthetic biology platforms. Those overlays are part of the 314 sub-asset overlays the platform maintains across 56 of its 68 native asset classes.

An overlay never reweights the parent rubric. It adds the extra scoring criteria, risk flags, document types and key term fields that only apply to that slice, so a quantum deal and a synthetic biology platforms deal are both scored on the shared deep Tech rubric while each is still asked the questions specific to its structure. That is what keeps deals inside one asset class comparable to each other and to the rest of the portfolio.

Selecting an overlay at intake changes what the platform expects: the document checklist, the extraction schema for key terms, and the flags raised when a term sits outside the range the rest of your deep Tech book has accepted. Nothing is retrofitted later by hand.

Every deep Tech opportunity that moves through Reuben AI leaves a structured record rather than a folder of documents and a memo. The rubric score is stored with the criteria that produced it, each extracted key term is stored with the clause and page it came from, and every flag is stored with the reason it fired and who cleared it.

The practical effect is that the investment committee paper, the LP report line and the audit trail are all reading the same underlying record. When an LP asks in year three why a deep Tech position was underwritten the way it was, the answer is retrieved, not reconstructed.

Deep Tech sits as a core allocation for VC and CVC mandates, and is adjacent or opportunistic for 4 of the other fund types the platform serves.

That matters operationally because most funds do not hold deep Tech alone. The moment a portfolio spans more than one asset class, comparability becomes the constraint: a position scored on a bespoke deep Tech spreadsheet cannot be ranked against a position scored somewhere else. Running deep Tech on the same rubric engine as the rest of the book removes that break.

Reporting inherits the same property. Portfolio monitoring, valuation cadence, capital account movement and LP reporting all draw from the single stored record, so a deep Tech position appears in the quarterly pack on the same basis as every other holding, with the same evidence behind it.