// S2 Capital
Skin in the game.
Not a seat at the table.
We work with post-PMF founders who need growth execution, not more advisors. We take equity, build the system, win when you win.
Equity stake
~5%
sweat
Stage
Seed
→ pre-A
Upside
Performance
-based
Partner retainer
2,750
/mo
// The difference
This is not a VC relationship.
VCs invest capital and expect reporting. We invest time, expertise, and attention — and share the risk of getting it right. There are no quarterly board updates. No pitch decks between us. Just the work.
What VC looks like
✕
Six-month fundraise process before work begins
✕
Six-month fundraise process before work begins
✕
Board seats, governance obligations, quarterly reporting
✕
Board seats, governance obligations, quarterly reporting
✕
Generic portfolio support from associates
✕
Generic portfolio support from associates
✕
Cash in, advice out — execution still yours to figure out
✕
Cash in, advice out — execution still yours to figure out
✕
Partners incentivised by fund return, not your specific outcome
✕
Partners incentivised by fund return, not your specific outcome
What S2 Capital looks like
→
Two-week onboarding, then we're inside the machine
→
Two-week onboarding, then we're inside the machine
→
No board seat. We run alongside your team, not above it
→
No board seat. We run alongside your team, not above it
→
Senior operators doing the work, not managing it
→
Senior operators doing the work, not managing it
→
We build your growth OS and recruit your FTE when ready
→
We build your growth OS and recruit your FTE when ready
→
Our upside is your growth. The incentives are the same.
→
Our upside is your growth. The incentives are the same.
// The model
Simple economics, serious commitment.
A structured arrangement — equity stake, a partner retainer, and performance upside — so our incentives track to yours from day one.
// 01 · Equity base
~5%
sweat
A founding stake, not a consulting fee
We take an average of 5% in sweat equity alongside a CHF 2,750/month partner retainer. The equity is what changes the scope: instead of one growth motion at a time, you get the full system running in parallel. We're on the cap table because we're committed to the outcome.
// 01 · Equity base
~5%
sweat
A founding stake, not a consulting fee
We take an average of 5% in sweat equity alongside a CHF 2,750/month partner retainer. The equity is what changes the scope: instead of one growth motion at a time, you get the full system running in parallel. We're on the cap table because we're committed to the outcome.
// 01 · Equity base
~5%
sweat
A founding stake, not a consulting fee
We take an average of 5% in sweat equity alongside a CHF 2,750/month partner retainer. The equity is what changes the scope: instead of one growth motion at a time, you get the full system running in parallel. We're on the cap table because we're committed to the outcome.
// 01 · Equity base
~5%
sweat
A founding stake, not a consulting fee
We take an average of 5% in sweat equity alongside a CHF 2,750/month partner retainer. The equity is what changes the scope: instead of one growth motion at a time, you get the full system running in parallel. We're on the cap table because we're committed to the outcome.
// 02 · Performance upside
Variable
+
Additional upside tied to results
Beyond the base equity, we agree on a set of growth milestones at the start of the engagement. If we hit them, additional upside accrues. The triggers are defined before work begins — not after.
// 02 · Performance upside
Variable
+
Additional upside tied to results
Beyond the base equity, we agree on a set of growth milestones at the start of the engagement. If we hit them, additional upside accrues. The triggers are defined before work begins — not after.
// 02 · Performance upside
Variable
+
Additional upside tied to results
Beyond the base equity, we agree on a set of growth milestones at the start of the engagement. If we hit them, additional upside accrues. The triggers are defined before work begins — not after.
// 02 · Performance upside
Variable
+
Additional upside tied to results
Beyond the base equity, we agree on a set of growth milestones at the start of the engagement. If we hit them, additional upside accrues. The triggers are defined before work begins — not after.
// 03 · Partner rate
2,750
/mo
The full OS — not the entry motion
Standard GrowthOS retainers run one growth motion at a time. S2 Capital partners get the entire system — every channel, every motion — running in parallel, at CHF 2,750/month. The equity stake is what makes the scope expansion sustainable for both sides.
// 03 · Partner rate
2,750
/mo
The full OS — not the entry motion
Standard GrowthOS retainers run one growth motion at a time. S2 Capital partners get the entire system — every channel, every motion — running in parallel, at CHF 2,750/month. The equity stake is what makes the scope expansion sustainable for both sides.
// 03 · Partner rate
2,750
/mo
The full OS — not the entry motion
Standard GrowthOS retainers run one growth motion at a time. S2 Capital partners get the entire system — every channel, every motion — running in parallel, at CHF 2,750/month. The equity stake is what makes the scope expansion sustainable for both sides.
// 03 · Partner rate
2,750
/mo
The full OS — not the entry motion
Standard GrowthOS retainers run one growth motion at a time. S2 Capital partners get the entire system — every channel, every motion — running in parallel, at CHF 2,750/month. The equity stake is what makes the scope expansion sustainable for both sides.
// 04 · Exit-aligned
Long
term
We hold. We don't advise and exit.
Sweat equity is only valuable if the company grows. We are structurally motivated to see your Series A close, your MRR compound, and your first growth hire placed into a system that's already running. When you're ready, S2 Recruitment finds them. We stay in the relationship beyond engagement.
// 04 · Exit-aligned
Long
term
We hold. We don't advise and exit.
Sweat equity is only valuable if the company grows. We are structurally motivated to see your Series A close, your MRR compound, and your first growth hire placed into a system that's already running. When you're ready, S2 Recruitment finds them. We stay in the relationship beyond engagement.
// 04 · Exit-aligned
Long
term
We hold. We don't advise and exit.
Sweat equity is only valuable if the company grows. We are structurally motivated to see your Series A close, your MRR compound, and your first growth hire placed into a system that's already running. When you're ready, S2 Recruitment finds them. We stay in the relationship beyond engagement.
// 04 · Exit-aligned
Long
term
We hold. We don't advise and exit.
Sweat equity is only valuable if the company grows. We are structurally motivated to see your Series A close, your MRR compound, and your first growth hire placed into a system that's already running. When you're ready, S2 Recruitment finds them. We stay in the relationship beyond engagement.
// What we bring
GrowthOS, activated.
We don't consult. We build and run the system — the same one we'd build if we were your in-house growth team.
♦︎
ICP & positioning
We define and narrow down the exact customer, channel, and message that makes your pipeline convert, retain, and expand.
♦︎
ICP & positioning
We define and narrow down the exact customer, channel, and message that makes your pipeline convert, retain, and expand.
♦︎
ICP & positioning
We define and narrow down the exact customer, channel, and message that makes your pipeline convert, retain, and expand.
♦︎
ICP & positioning
We define and narrow down the exact customer, channel, and message that makes your pipeline convert, retain, and expand.
⌱
Acquisition architecture
Demand creation and capture, SEO-GEO, outbound, content, organic, paid, and referral mechanics. Built, launched, iterated.
⌱
Acquisition architecture
Demand creation and capture, SEO-GEO, outbound, content, organic, paid, and referral mechanics. Built, launched, iterated.
⌱
Acquisition architecture
Demand creation and capture, SEO-GEO, outbound, content, organic, paid, and referral mechanics. Built, launched, iterated.
⌱
Acquisition architecture
Demand creation and capture, SEO-GEO, outbound, content, organic, paid, and referral mechanics. Built, launched, iterated.
⏣
Pipeline & CRM
Your CRM configured, enriched, and mapped to your sales motion. Taxonomy applied. Every lead tracked. Every stage defined. No data rot.
⏣
Pipeline & CRM
Your CRM configured, enriched, and mapped to your sales motion. Taxonomy applied. Every lead tracked. Every stage defined. No data rot.
⏣
Pipeline & CRM
Your CRM configured, enriched, and mapped to your sales motion. Taxonomy applied. Every lead tracked. Every stage defined. No data rot.
⏣
Pipeline & CRM
Your CRM configured, enriched, and mapped to your sales motion. Taxonomy applied. Every lead tracked. Every stage defined. No data rot.
⛺︎
Agent layer
Purpose-built AI agents that run on your context — enrichment, sequencing, monitoring, reporting; so human experts focus on decisions.
⛺︎
Agent layer
Purpose-built AI agents that run on your context — enrichment, sequencing, monitoring, reporting; so human experts focus on decisions.
⛺︎
Agent layer
Purpose-built AI agents that run on your context — enrichment, sequencing, monitoring, reporting; so human experts focus on decisions.
⛺︎
Agent layer
Purpose-built AI agents that run on your context — enrichment, sequencing, monitoring, reporting; so human experts focus on decisions.
⎈
Conversion optimisation
We define and narrow down the exact customer, channel, and message that makes your pipeline convert, retain, and expand.
⎈
Conversion optimisation
We define and narrow down the exact customer, channel, and message that makes your pipeline convert, retain, and expand.
⎈
Conversion optimisation
We define and narrow down the exact customer, channel, and message that makes your pipeline convert, retain, and expand.
⎈
Conversion optimisation
We define and narrow down the exact customer, channel, and message that makes your pipeline convert, retain, and expand.
⚄
Growth hire readiness
When you're ready to bring growth in-house, we help you define the role, recruit the right person, and hand them a running system.
⚄
Growth hire readiness
When you're ready to bring growth in-house, we help you define the role, recruit the right person, and hand them a running system.
⚄
Growth hire readiness
When you're ready to bring growth in-house, we help you define the role, recruit the right person, and hand them a running system.
⚄
Growth hire readiness
When you're ready to bring growth in-house, we help you define the role, recruit the right person, and hand them a running system.
// Who this is for
Post-PMF. Ambitious. Pre-Series A.
S2 Capital is not for every company. We take on a limited number of partnerships per year and select for the conditions where our model works best.
→
Product–market
fit is confirmed.
Product–market fit is confirmed.
You have customers, they're staying, and some are referring others. The signal exists — it just needs a system behind it.
→
You're at seed or
approaching Series A.
You're at seed or approaching Series A.
Cash is constrained. full-time marketing hires and growth agencies aren't the right move.
→
The founder is the
growth lever.
The founder is the growth lever.
You've been running acquisition yourself. You need someone to build the infrastructure and free you to lead.
→
You're in B2B SaaS, regulated industries,
or marketplace models.
You're in B2B SaaS, regulated industries, or marketplace models.
These are the verticals where our playbooks are sharpest.
→
You want an operator, not an
advisor.
You want an operator, not an advisor.
We're inside the work, not on a monthly call about it.
// Why it works
"Your first growth hire is a system, not a headcount."
Most early-stage founders hire a growth marketer before the foundation exists. The hire runs experiments in the dark. SystemTwo builds the foundation first — the ICP, the channel logic, the measurement — and places the team into a working machine. In the S2 Capital model, we do this for equity, not cash. That changes everything about how we show up.
// How it works
From application to active in weeks.
// 01
Apply
Fill out a short application — your stage, current traction, what you've tried so far in growth, and your goals. We review every application within five business days.
// 01
Apply
Fill out a short application — your stage, current traction, what you've tried so far in growth, and your goals. We review every application within five business days.
// 01
Apply
Fill out a short application — your stage, current traction, what you've tried so far in growth, and your goals. We review every application within five business days.
// 01
Apply
Fill out a short application — your stage, current traction, what you've tried so far in growth, and your goals. We review every application within five business days.
// 02
Diagnostic call
A 60-minute call with a senior SystemTwo operator. We map your current growth motion, identify the constraint, and assess fit. No pitch deck. No slides. A conversation.
// 02
Diagnostic call
A 60-minute call with a senior SystemTwo operator. We map your current growth motion, identify the constraint, and assess fit. No pitch deck. No slides. A conversation.
// 02
Diagnostic call
A 60-minute call with a senior SystemTwo operator. We map your current growth motion, identify the constraint, and assess fit. No pitch deck. No slides. A conversation.
// 02
Diagnostic call
A 60-minute call with a senior SystemTwo operator. We map your current growth motion, identify the constraint, and assess fit. No pitch deck. No slides. A conversation.
// 03
Term sheet
If there's fit on both sides, we present a simple term sheet: equity percentage, performance milestones, scope of engagement, and timeline. No ambiguity.
// 03
Term sheet
If there's fit on both sides, we present a simple term sheet: equity percentage, performance milestones, scope of engagement, and timeline. No ambiguity.
// 03
Term sheet
If there's fit on both sides, we present a simple term sheet: equity percentage, performance milestones, scope of engagement, and timeline. No ambiguity.
// 03
Term sheet
If there's fit on both sides, we present a simple term sheet: equity percentage, performance milestones, scope of engagement, and timeline. No ambiguity.
// 04
Onboarding sprint
Two weeks of intensive discovery. We get inside your data, your customers, and your current stack. At the end of this, you get a Growth blueprint and operating system — the plan for what we build together.
// 04
Onboarding sprint
Two weeks of intensive discovery. We get inside your data, your customers, and your current stack. At the end of this, you get a Growth blueprint and operating system — the plan for what we build together.
// 04
Onboarding sprint
Two weeks of intensive discovery. We get inside your data, your customers, and your current stack. At the end of this, you get a Growth blueprint and operating system — the plan for what we build together.
// 04
Onboarding sprint
Two weeks of intensive discovery. We get inside your data, your customers, and your current stack. At the end of this, you get a Growth blueprint and operating system — the plan for what we build together.
// 05
Build and compound
We execute against the blueprint, shipping growth infrastructure, running experiments, and iterating until the system is self-sustaining. Typically 6–12 months of active partnership.
// 05
Build and compound
We execute against the blueprint, shipping growth infrastructure, running experiments, and iterating until the system is self-sustaining. Typically 6–12 months of active partnership.
// 05
Build and compound
We execute against the blueprint, shipping growth infrastructure, running experiments, and iterating until the system is self-sustaining. Typically 6–12 months of active partnership.
// 05
Build and compound
We execute against the blueprint, shipping growth infrastructure, running experiments, and iterating until the system is self-sustaining. Typically 6–12 months of active partnership.
// Apply now
We take four new partnerships per year.
Applications are open.
If you have product–market fit and want the full GrowthOS running — we want to hear from you. The application takes 10 minutes.