Commerce is undergoing a secular shift in how we transact.
Digital transactions are one proxy for this revolution.
Mu backs founders removing friction from transactions.
Market moments that have our attention:
1.
Automating commerce for people,
and their AI agents
It’s insane that more transactions aren’t happening online. Ecommerce sales in 2024 accounted for only 16% of total sales. In the coming years, this number could cross 50+% with growth coming from new channels (e.g. robots, gaming, auto), and existing channels (e.g. social, marketplace, international). AI-driven agents are already handling more of the transaction load, and we expect this trend to accelerate.
Legacy commerce infrastructure is at risk of being replaced as the transaction layer changes and commerce gets more convenient and complex. Targets: vertical AI, supply chain, ad/mar tech, payments, and marketplaces.
2.
Reinventing digital marketing, and the data that drives it
With CACs up and attribution down, the days of reliably scaling DTC on paid social are over. Future marketing activation will be fueled by first-party data acquisition and activation. Mµ is focused on the tools that make this possible for every merchant. Targets: Data infrastructure, retail tech, adtech, martech
3.
Disruption through decentralization
Decentralization is impacting commerce broadly. You see it in the growth of the gig-economy, the emergence of remote work, and the proliferation of B2C and B2B marketplaces. Each of these trends has the power to create businesses that will replace long standing incumbents. Targets: Marketplaces, Vertical SAAS
