Tandem

Private event

Tandem 2026 Annual Meeting

09.302026

Fund I proved the model. Fund II builds on it.

Wednesday, 11:30 AM – 1:30 PM Tandem HQ · Lehi, UT

Reserve your seat

A note from the partners

What we’ve built. Where we’re going.

Four years ago, many of you took a chance on a founder and an investor with a shared vision: build a venture firm centered on backing exceptional founders and supporting them with people who have been in their shoes.

Since then, we’ve built something we are incredibly proud of. In 2025, we backed nine new companies and deployed more than $13M. So far in 2026, we’ve backed another 10 companies, investing $14.5M in new opportunities. That brings the Fund I portfolio to 33 companies, with the fund now nearly fully deployed.

We’ve watched founders turn ambitious ideas into meaningful businesses, build incredible teams, and create real value. But what we’ve built together goes well beyond the portfolio.

We absolutely love what we do. Helping the next generation of founders build enduring companies, create jobs, and contribute to both our local and national economy is incredibly fulfilling. Getting to do it alongside all of you makes it even more meaningful.

Many of you have become active partners in Tandem. You’ve introduced us to exceptional founders, sent opportunities our way, opened doors for our portfolio companies, shared your expertise, and helped us attract great talent. We don’t take that for granted.

Most importantly, thank you for believing in us early. You backed the vision before we had four years of results behind us, and we are incredibly grateful for that trust.

With Fund I nearly deployed, we’re entering the next chapter for Tandem. As we look toward Fund II, our mission remains the same: back exceptional founders early, support them deeply, and continue building a venture firm that creates meaningful value for founders and LPs alike.

On September 30, we’re excited to share what Fund I has accomplished, hear directly from some of the founders behind that progress, and give you a look at where Tandem is headed next.

Thank you for being part of Tandem. We hope you’ll be in the room.

Alex Bean & McKay Dunn
General Partners
Alex Bean and Mckay Dunn

The details

Be in the room.

Two exceptional founders. A top-decile fund. Looking at what is next.

Join us for an afternoon with the founders, LPs, and people behind Tandem. We’ll unpack Fund I, hear directly from two of our portfolio founders, and share where we’re headed with Fund II.

When
Wednesday, September 3011:30 AM – 1:30 PM MT
Where
Tandem HQLehi, Utah + Virtual
Lunch
Aubergine, Dole Whip, snacksCome hungry.
  1. 11:30
    WelcomeStart serving lunch
  2. 11:40
    Inside Fund IPerformance, portfolio & what we’ve learned
  3. 12:00
    Sterling Snow | RedoBuilding Utah’s hottest unicorn
  4. 12:15
    Justin Steinke | StrixTaking on the future of counter-drone defense
  5. 12:30
    Where Tandem goes nextFund II outlook + Q&A
  6. 1:00
    Open minglingThrough 1:30

Closest-to-the-pin. Tandem swag. Giveaways.Including a four-night stay in Mexico.

Reserve your seat

Fund I

We said it and we're delivering.

28 investments later
and 3 years in

Unique Deal Access

52%
Net IRR · Top 10% fund performance
Top decile seed on Carta. 1.80x Net MOIC. Zero portfolio company losses to date.

Find Utah's Next Unicorn

1 in 23
Tandem's unicorn rate
Backed a unicorn after 23 investments, ahead of Utah (1 in 61) and California (1 in 72).

Back Breakout Companies

587%
Avg. YoY revenue growth
Across 28 companies, with $203M in follow-on capital.

How we compare to other VC funds

Net MOIC for 2023 vintages

Median

Top Quartile

Top Decile

Tandem

Net IRR for 2023 vintages

Median

Top Quartile

Top Decile

Tandem

Top decile means top 10%. Carta, Q1 2026.

Sterling Snow

Founder, Redo

We’ve known Sterling’s talent firsthand since his time working alongside Alex at Divvy. When he joined Redo three years ago, we knew he was the kind of founder we wanted to back with as much conviction as possible. Tandem was fortunate enough to get in early. Since then, Sterling and his team have built Redo into a $1.25B company, with nine products now generating meaningful revenue and extraordinary momentum across the business. Sterling is a rare operator, and Redo is a rare company. He’ll share how they’ve built it, where they’re headed, and why he believes they’re still just scratching the surface.

Smash Capital led the $81M Series B. 4,100+ brands on the platform, 1,750+ running more than one product, and the stack has moved well past returns: tracking, package protection, fulfillment, service, marketing, and AI.

$1.25B
$81M Series B
4,100+
Brands on Redo
1,750+
On multiple products
Sterling Snow, founder of Redo
Strix

Justin Steinke

Founder & CEO, Strix

Based in Colorado, Strix is quickly emerging as one of the most exciting companies in Tandem’s portfolio. Defeating hostile drones autonomously, at the tactical edge and at an economically viable cost, has been one of the hardest problems in modern defense. Strix is proving to be the first to crack it, already passing some of the U.S. military’s most rigorous testing. Government procurement rarely moves this quickly, but the differentiated nature of Strix’s technology and the urgency of the threat are accelerating adoption. CENTCOM is advancing a $41.7M APFIT submission for 1,100 systems across 22 sites, the Marines have programmed an additional $30M, and Strix recently secured another $3M defense contract. Justin will take us inside what Strix has built, why it’s different, and why the U.S. military is moving so quickly to get it into the field.

$41.7M
CENTCOM APFIT submission
1,100
Systems across 22 CENTCOM sites
$30M
Additional Marine Corps POM
Justin Steinke, founder of Strix

Fund II - Same size, on purpose

Why this size

$50M
Same as Fund I
Growing too quickly is one of the largest drivers that ruins fund performance. A bigger fund forces a new strategy, or a seed fund over-diversifies and kills alpha.

Double or nothing

2x
First-close investors
We brought double-or-nothing GP carry to the industry. Fund II doubles down: 2x double or nothing for every first-close investor.

Complete alignment

LP + GP
We make money when you do
Complete LP and GP alignment. We make money when our LPs make money. We're in this to generate outsized returns.

Fund II terms

Fund size
$50M
Fund life
10 yrs
Min check
$0.5M
Capital calls
Bi-annual
Mgmt fees
2%
GP carry
20%