Slow Ventures Puts $64M Into 'Cults': A New VC Bet on Creators

According to Lightcap, the structure is comparable to investing in Beast Industries rather than Feastables: the fund bets on the entrepreneur and the ecosystem of businesses they can build. Slow's stake in each individual project isn't identical: if a creator forms a joint venture with an external partner on equal terms, the fund's stake applies only to the author's half of the business.

Before a deal, the fund conducts extended due diligence. Beyond standard procedures for traditional founders, Slow analyzes the strength of the community: it reaches out to subscribers to understand why they trust the author, examines audience engagement, commercial traction, and category size. After investing, the fund deliberately doesn't get involved — it takes no board seat and sets no KPIs.

'We Invest in Cults'

The key to the strategy is choosing the right type of creator, says Slow Ventures co-founder Sam Lessin. The fund divides authors into two camps: entertainment-focused ones like MrBeast and Alex Cooper, and niche ones — recognized authorities in specific fields. The latter have smaller audiences, but the depth of their relationships with subscribers gives them an advantage when launching businesses.

"I think we've passed the moment of mass creators like Beast Industries," Lessin said. "We invest in cults. And the most valuable cults aren't the ones you can talk about on CNBC."

Notably, none of the three newly invested authors is building a media business per se. Advertising and sponsorships monetize their audiences, but aren't a priority, Lightcap notes. For them, the audience is a means to a broader commercial purpose. Among current projects — direct-to-consumer sales of frozen fish in the CPG segment; the authors plan to diversify their revenue streams.

Trust Is Worth More Than the Product

In Lessin's view, the development of AI has only reinforced this investment thesis. Technology makes it cheaper to create products, and the product itself loses defensibility — trusted distribution is growing in value.

"The trust premium has never been higher," Lessin says. "Making a product is so easy that having the best product can no longer be considered an investable advantage. What is investable is trust and community."

He acknowledges that these investments are unlikely to deliver the outsized returns of early-stage tech startup rounds. However, the lower return reflects a higher probability of success: unlike startups with an idea on a napkin, creators already have a loyal audience, revenue, and commercial traction, which reduces the risk of total capital loss.

Whether the strategy will succeed is an open question. Slow plans to deploy all $64 million over two to three years, and the results of the investments will only become apparent years later. Nevertheless, the model demonstrates a new tactical approach by institutional investors toward creators — further evidence that the next wave of influential businesses will likely start with individual authors.