Earnest Capital
Calm Company Fund (formerly Earnest Capital) is a remote-first early-stage investment firm that backs profitable, sustainable software businesses using a proprietary Shared Earnings Agreement, providing capital, mentorship, and community to bootstrapped founders globally.
- Company typePrivate
- Founded2018
- HeadquartersJackson St Forest, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Earnest Capital does
Earnest Capital, now operating as Calm Company Fund, is a remote-first early-stage investment firm founded by Tyler Tringas in 2018 and rebranded in June 2021. The firm invests in profitable, capital-efficient software companies — primarily post-revenue B2B SaaS, developer tools, and niche vertical software — using a proprietary financing instrument called the Shared Earnings Agreement (SEAL). Under a SEAL, the fund receives a capped percentage (typically 2-5x) of 'Founder Earnings' (salary plus dividends plus retained earnings) once an earnings threshold is met, with an equity-basis component that converts only if the company later raises a priced round or is sold; the firm explicitly takes no equity, board seats, or voting control at signing.
The firm's product surface extends beyond the SEAL to include a Community Platform (private Slack of 200+ founders, mentors, and investors), a Mentorship Program drawing on 150+ experienced software founders who are also fund investors, an annual Founder Summit co-hosted with SureSwift Capital, the Founder Liquidity Fund for secondary transactions, Calm Boards for advisory support, and a custom async application portal at apply.calmfund.com. Operations are supported by a no-code engineering team running 10-20k internal automations per month.
Revenue is generated through traditional VC-style management fees (approximately 10-15% of fund capital), carried interest on exits, and Shared Earnings payments from portfolio companies. Four funds have been raised since 2019, checks range from $100k-$500k per company, and the firm reports 69-80 portfolio investments with only one write-off over three years. The firm operates with a small distributed team (8 people, down from a peak of 11), has 200+ LPs across all funds (predominantly successful software entrepreneurs), and 100% of investments come through inbound applications. In June 2024, the firm announced an indefinite sabbatical from new investments and fundraising, citing inability to scale fund size to support the team and ongoing litigation with SureSwift Capital, while committing to continue managing existing portfolio and fund obligations.
Earnest Capital firmographics
Firmographics- Name
- Earnest Capital
- Legal name
- Calm Company Fund
- Website
- https://calmfund.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Calm Company Fund (formerly Earnest Capital) is a remote-first early-stage investment firm that backs profitable, sustainable software businesses using a proprietary Shared Earnings Agreement, providing capital, mentorship, and community to bootstrapped founders globally.
- Ownership category
- akta.pro rank
Earnest Capital industry classification
Industry- Product category
- Venture Capital & Investment Management
- NAICS
- Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), All Other Financial Investment Activities (52399)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Accelerators & Incubators (Investor-Operated) (FSANAAAM)
Keywords
Where Earnest Capital is headquartered
LocationHeadquarters
- HQ city
- Jackson St Forest
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Earnest Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Fund Management Fees: Traditional VC-style management fees (approximately 10-15% of fund capital) used to cover team, tools, research, community building, portfolio support, reporting, taxes, and compliance.
- Carried Interest (Carry): Performance-based fees earned when portfolio companies generate returns beyond the Shared Earnings Cap. Investors receive equity basis that converts to ownership if company is sold or raises priced round.
- Shared Earnings Payments: Investors receive percentage of Founder Earnings (founder salary + dividends + retained earnings) once earnings exceed agreed threshold, capped at 2-5x initial investment.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Direct investments via Shared Earnings Agreement |
| Other | Pay-as-you-go | Alternative investment range stated in FAQ |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels6 records
Earnest Capital product offering
Product offeringCore offering
Earnest Capital (Calm Company Fund) is a micro venture capital firm that invests $100,000 to $500,000 in early-stage, post-revenue, profitable software companies through a proprietary Shared Earnings Agreement (SEAL). The SEAL entitles the firm to a capped percentage of Founder Earnings once a defined threshold is met, in lieu of equity, board seats, or control, and converts to equity only if the company raises a priced round or is sold. Beyond capital, the firm provides a private community of 150+ mentors who are also LPs, an async application portal, an annual Founder Summit, partner perks (AWS, Webflow, Notion), and secondary liquidity via the Founder Liquidity Fund.
Product overview
Calm Company Fund (formerly Earnest Capital) is an investment firm that provides capital, mentorship, and community for founders building sustainable, profitable calm companies. The firm's core offering is the Shared Earnings Agreement (SEAL), a novel financing structure that aligns investor and founder interests without requiring equity or control. Beyond funding, the firm provides a community platform, mentorship program, annual Founder Summit conferences, and a custom application portal. Secondary products include the Founder Liquidity Fund for secondary transactions and Calm Boards for advisory support. The portfolio spans B2B SaaS, developer tools, and niche vertical solutions.
Differentiator
Problem solved
Functional benefit
Products and services
- Shared Earnings Agreement (SEAL) A proprietary financing structure that allows Calm Company Fund to invest $100k-$500k in calm companies in exchange for a capped percentage of Founder Earnings above a defined threshold; the agreement converts to equity only if the company raises a priced round or is sold.
- Community Platform (Community HQ) A private Slack-based community platform for portfolio founders, mentors, and investors offering tactical workshops, networking, and resource sharing.
- Mentorship Program A structured mentorship program connecting portfolio founders with 150+ experienced software founders who are also investors, providing guidance without top-down advice.
- Founder Summit An annual conference for founders of calm companies featuring fireside chats, workshops, and networking; previously held in Mexico City and as a Camp Edition.
- Founder Application Portal A custom async application tool that allows founders to apply for funding at their own pace, with guided resources and thought-provoking questions; replace traditional pitch processes.
- Calm Company Scouts
- Calm Boards
- Founder Liquidity Fund
Quantifiable outcome
- 1 write-off in 3 years across 69 investments
- +5 more outcomes
Companies that use Earnest Capital
Customer profileNamed customers12 records
Segments2 records
Ideal customer profiles2 records
Earnest Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Earnest Capital partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- SureSwift CapitalcoreCo-hosted Founder Summit events together. SureSwift Capital is a private equity firm. Note: There is ongoing litigation between the companies which has impacted Calm Fund's operations.
- AWS (Amazon Web Services)minorExclusive partnerships with leading brands for portfolio companies. AWS provides cloud infrastructure benefits to portfolio.
- WebflowminorExclusive partnerships with leading brands for portfolio companies. Webflow provides no-code platform benefits.
- NotionminorExclusive partnerships with leading brands for portfolio companies. Notion provides productivity tool access.
Scale indicators13 records
Recent moves8 records
Expansion highlights5 records
Earnest Capital competitors and assessment
Company assessmentDirect peers
- Hustle Fund: Shiyan Koh and Elizabeth Yin pre-seed fund writing small checks in SaaS and mobile; similar check size and stage but more conventional SAFE/equity terms.
- Indie.vc: Brian Jacobs' fund that pioneered revenue-based/shared-earnings investing in bootstrapped US companies. Almost identical mandate and structure to Calm Company Fund.
- TinySeed: Fund/accelerator run by Rob Fitzpatrick and Einar Vollset that invests small checks in bootstrapped SaaS founders in exchange for royalties and equity-light terms; nearly identical audience and deal size.
- SaaS Capital: Rob Belcher's firm focused exclusively on growing SaaS companies, providing debt and minority equity. Direct overlap on SaaS-only thesis but capital is structured differently.
- Awesome Fund: John Biggs' operator-led fund writing small checks with mentorship for bootstrapped and indie founders; very similar check size and ethos to Calm Company Fund.
- Uncorrelated Ventures: Bryan Binke's fund backing 'outliers' in large markets with technical founders; shares the founder-friendly, novel-terms ethos though at much larger check sizes.
- Contrary Capital: Eric Bahn's student/founder-led fund taking small checks in unconventional talent; comparable in ethos of identifying overlooked founders though stage and approach differ.
Broad incumbents
- Forerunner: Early-stage consumer/finance-focused firm with similar founder-friendly brand, but operates at meaningfully larger fund sizes and broader mandate.
- Idealab: Bill Gross' long-running technology incubator/venture firm; comparable in model of investor-operated company creation and capital + mentorship offerings, though older and broader in scope.
Emerging players
- Lighter Capital: Revenue-based financing provider to bootstrapped SaaS companies; partial overlap with SEAL economics (no equity) but uses debt rather than a shared-earnings cap.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Earnest Capital social profiles
Digital presenceEarnest Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Earnest Capital leadership team
Management profileNumber of profiles
Profiles1 record
Earnest Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Earnest Capital M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Earnest Capital
What does Earnest Capital do?
Earnest Capital (Calm Company Fund) is a micro venture capital firm that invests $100,000 to $500,000 in early-stage, post-revenue, profitable software companies through a proprietary Shared Earnings Agreement (SEAL). The SEAL entitles the firm to a capped percentage of Founder Earnings once a defined threshold is met, in lieu of equity, board seats, or control, and converts to equity only if the company raises a priced round or is sold. Beyond capital, the firm provides a private community of 150+ mentors who are also LPs, an async application portal, an annual Founder Summit, partner perks (AWS, Webflow, Notion), and secondary liquidity via the Founder Liquidity Fund.
Is Earnest Capital a public or private company?
Earnest Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Earnest Capital founded?
Earnest Capital was founded in 2018. It employs 1 to 10 people.
Where is Earnest Capital based?
Earnest Capital is headquartered in Jackson St Forest, United States, in the North America region.
How does Earnest Capital make money?
Three revenue lines are on record. Fund Management Fees are the primary driver. The others are carried Interest (Carry) and shared Earnings Payments.
Who are Earnest Capital's main competitors?
Direct peers on record are Hustle Fund, Indie.vc, TinySeed, SaaS Capital, Awesome Fund, Uncorrelated Ventures and Contrary Capital. Broad incumbents are Forerunner and Idealab. Lighter Capital is listed as an emerging player.
Does Earnest Capital have an API?
No public API is recorded for Earnest Capital.
What industry is Earnest Capital in?
Earnest Capital's product category is Venture Capital & Investment Management. Its primary akta.pro industry code is FSANAAAM, Accelerators & Incubators (Investor-Operated). Its NAICS code is 523940 and its SIC code is 6282.