Capital-light entry into a serial founder's next venture in the peptide supply chain. Finnrick is Michael Carter's new Tokyo-based peptide supply chain business; the wedge is StoryHouse's long-standing relationship with Carter (Playco, Orbited) and the option-value of a small non-dilutive SAFE alongside a founder who does not need capital.
Carter directly offered StoryHouse involvement in his new ventures during an in-person meeting in Tokyo, and as of May 2026 the company has built revenue traction (0→$2M in peptides) and is now recruiting CEO/CTO co-founders through Toku, signaling productization. The pursuit is structured as a long-term capital partnership across Carter's future ventures rather than a single financing event. StoryHouse is exploring a $50–100K SAFE from Fund I in lieu of warrants — the structure preserves clean tax treatment for foreign LPs while keeping us positioned for follow-on rounds.
Ken O'Friel emailed Miles asking for CEO/CTO candidates for a peptide company doing 0→$2M in revenue — likely Finnrick. Confirms commercial traction and ongoing executive team build-out.
Source: Meeting Notes recgL1Po6PDVI3x2l
Miles met Michael Carter in Tokyo. Carter offered StoryHouse involvement in two new ventures (AI coding business and Finnrick Analytics, the peptide supply chain). Original structure was warrants, but those create non-capital-gains tax issues for foreign LPs. Miles proposed a small $50–100K SAFE as...
Source: Meeting Notes recd0Y2PQYmKutm7A
Ken O'Friel (Toku) referenced Michael Carter and the peptide company in a May 2026 talent search, independently corroborating Finnrick's revenue trajectory.