Mahdi Raza co-founded Exponent after operating roles at Robinhood through its IPO and leading early growth at passwordless auth startup Stytch, then transitioning from fintech investment banking at Evercore and investing at GIC to become an operator. He focuses on backing ambitious founders building real products in software, payments, and AI that transform legacy industries like insurance, emphasizing a first-principles approach that views good valuations as separate from good investments. Mahdi Raza co-founded Exponent after operating roles at Robinhood through its IPO and leading early growth at passwordless auth startup Stytch, then transitioning from fintech investment banking at Evercore and investing at GIC to become an operator. He focuses on backing ambitious founders building real products in software, payments, and AI that transform legacy industries like insurance, emphasizing a first-principles approach that views good valuations as separate from good investments.