Investment thesis · Draft for discussionOctober 2026

Built on the relationship.
Held for eternity.

For Eternity is building a connected family of faith-based consumer brands, media and data businesses. They all sit around an asset that is hard to copy: a direct, permission-based relationship with Christian households, and with the churches and ministries that serve them.

~$26MProposed anchor acquisition
1.4MOpted-in email & SMS contacts
3Layers: anchor, consumer, data
2Growth channels not yet started
The thesis in one page

One audience.
Three layers of value.

Most faith-based companies are founder-owned, under-capitalized and run on their own. We are assembling them on purpose, so that each new business starts with an audience, a channel and the data it needs from day one.

01
The anchor · Fund I

Spiral Bible

A profitable, direct-to-consumer scripture brand with about 1.4 million opted-in contacts. It provides the cash flow, the customer file and the operating base for everything that follows.

02
The consumer platform

Brands, media & voices

A Christian influencer network plus acquisitions and investments in family-focused Christian media, Christ-centered apparel and other consumer brands. Each one is helped by the audience the anchor brings and adds to it.

03
The data & church layer

Serving the Church

Businesses that serve churches, ministries and nonprofits, starting with personality assessment and direct mail to vendors selling into the church market. This is recurring business-to-business revenue backed by data that is hard to replicate.

SPIRAL BIBLE Influencers Media Apparel Brands Assessment Direct mail Church services CONSUMER PLATFORM DATA & CHURCH LAYER
Each ring feeds, and is fed by, the one inside it
Why now

A large, loyal market.
Very little patient capital.

Christian households are one of the largest and most loyal consumer groups in America, and demand for scripture is near record highs. Yet the companies serving them rarely have an owner built to hold, connect and grow them for the long term.

U.S. Bible unit salesCircana BookScan
5M
2015
17M
2024
19.1M
2025
3.8×growth in a decade, while total U.S. print book units rose about 1% in 2024

Sources: Publishers Weekly / BookScan (2015, 2024, print units) · Religion Unplugged / Circana (2025)

62%

of U.S. adults identify as Christian

Pew Research Center, 2023–24 Religious Landscape Study
19.1M

Bibles sold in the U.S. in 2025, up 12% on 2024 and more than triple the level of a decade ago

Circana data via Religion Unplugged
~373K

religious congregations in the U.S., about 335,000 of them Protestant and other Christian churches

Hartford Institute for Religion Research
$151.6B

given to religion in 2025, still the largest share of American charitable giving

Giving USA 2026
The anchor · Fund I · Legacy

Spiral Bible.
The foundation stone.

Spiral Bible makes spiral-bound notebook Bibles that lie flat, with wide margins for notes, in several translations, alongside journals, devotionals and planners. It is the anchor acquisition for the Hold strategy.

Anchor transactionProposed
~$26M
Anticipated purchase price
  • Fund I · Legacy (Hold)Vehicle
  • ~1.4M opted-in email & SMSAudience
  • Profitable, direct-to-consumerProfile
  • Long-term hold, no planned exitHorizon
  • Non-binding; in diligenceStatus
01

A permission-based audience

About 1.4 million people who opted in to hear from the brand by email and SMS. That is owned distribution: no ad auction and no algorithm sitting between us and the customer.

02

New product extensions to cross-sell

Several new product lines can be offered to customers who already trust the brand. That raises how much each customer is worth without raising the cost to win them.

03

Retail: still untouched

The business has grown mainly direct to consumers. A broad push into bookstores, big-box and specialty retail has not begun.

04

International: not yet started

Demand for scripture is global. Expansion abroad, along with the translation licensing it requires, is a second channel that has not begun.

The audience1,400,000opted-in email & SMS contacts
Each dot = 10,000 opted-in contacts
Growth channels1 of 3channels active today
Direct to consumer
Active
Retail distribution
Not yet begun
International
Not yet begun
Product extensions
Ready to cross-sell
Illustrative: shows which channels are active, not channel revenue

"Meat on the bone": this is a profitable business whose next two growth channels have not been tried, owned by a strategy designed never to sell it.

The consumer platform

Every deal makes
the next one stronger.

Around the anchor we intend to add consumer businesses that gain from the same audience and add to it. Brands, content and trusted voices all strengthen one another.

Voices

Christian influencer network

Trusted creators who reach families every day. They launch products, build reach and bring new opted-in customers to every brand in the family.

Fills the top of the funnel
Content

Family-focused Christian media

Platforms households return to every week. Media earns attention, and attention makes every product launch cheaper.

Keeps the audience engaged
Identity

Christ-centered apparel

Faith people wear in public. These are high-margin products with repeat purchases, a natural fit to cross-sell to the anchor's customers.

Raises customer value
Adjacent

Other consumer brands

Faith-based consumer products that grow faster with a shared audience, shared fulfillment and shared back-office services.

Widens the portfolio
Audience1.4M + new voices ContentMedia & creators ProductsScripture, apparel InsightConsented data Every dealstrengthensthe next.
A further bet on data

Serve the Church.
Understand the household.

Churches, ministries and nonprofits buy a great deal from vendors, and they buy it repeatedly. We are targeting the businesses that already serve them, each holding data and relationships that would take a new entrant decades to build.

Target · AssessmentTarget

Ministry Insights

One of the most widely used church-focused personality assessment platforms. Its Leading From Your Strengths profile, introduced in 2001, is used by church staff, ministry teams, couples and families. It also has certification programs and long-standing ministry partnerships.

  • Recurring use by churches and ministriesRevenue
  • Insight into how leaders and teams workData
Target · Direct mailTarget

Church-market direct mail

One of the largest direct mail providers to vendors selling into the church market. It holds the address data and campaign infrastructure that companies use to reach congregations.

  • Recurring campaigns from vendorsRevenue
  • Reach into congregations nationwideData
Target · ServicesCategory

Church, nonprofit & parachurch services

Similar businesses serving churches and, more broadly, nonprofit and parachurch organizations, a sector that received an estimated $151.6 billion in religious giving in 2025.

  • Sticky, mission-critical servicesRevenue
  • Knowledge of how organizations operateData
HouseholdsConsumer brands & media ChurchesChurchesAssessment & services VendorsDirect mail & reach

Consumer brands reach the family at home. The data and church layer reaches the congregation and the vendors who serve it. Together they cover both sides of faith-based demand.

How value compounds

Acquire. Connect.
Hold forever.

A simple, repeatable playbook. We put patient capital into companies that are already profitable, rather than relying on financial engineering.

01

Acquire

Buy durable, cash-flowing faith-based businesses at disciplined prices.

02

Connect

Link each company to the shared audience, influencer network and services.

03

Expand

Open the channels founders could not: retail, international and new products.

04

Learn

Use consented, first-party data to sharpen every offer and every acquisition.

05

Hold

Keep and compound. Cash flow funds the mission and the next deal.

Pipeline

Where we are.

Illustrative and subject to change. Inclusion here does not mean any agreement exists.

OpportunityLayerIntended fundStatus
Spiral BibleNotebook Bibles & scripture productsAnchorFund I · LegacyProposed: non-binding, in diligence
Ministry InsightsChurch-focused personality assessmentData & churchFund I · LegacyTarget
Church-market direct mail providerName withheldData & churchFund I · LegacyTarget
Christian influencer networkCreator partnershipsConsumerPlatform-wideIn development
Family-focused Christian mediaMedia platformsConsumerFund I or IICategory: sourcing
Christ-centered apparelConsumer brandsConsumerFund I or IICategory: sourcing
Church, nonprofit & parachurch servicesSimilar businessesData & churchFund I or IICategory: sourcing
Where each deal lives

One thesis.
Two funds.

The thesis runs across both strategies. Mature, cash-flowing businesses are held in Fund I. Young companies with momentum are backed in Fund II. Each gains from what the other builds.

Fund ILong-term hold

For Eternity Legacy Fund

Hold.

The anchor and the established businesses around it: scripture products, assessment, direct mail and church services. These are durable cash flows held for good.

  • Spiral Bible (proposed anchor)Anchor
  • Assessment, direct mail, servicesData layer
  • Established consumer & media brandsConsumer
Fund IIGrowth to scale

For Eternity Venture Fund

Scale.

Young faith-based brands and platforms that scale faster with the shared audience, influencer network and data behind them.

  • Emerging apparel & consumer brandsConsumer
  • Creator-led products & mediaVoices
  • Tools for churches & ministriesData layer
How we steward it

Guardrails, not afterthoughts.

  1. 01

    Consent first

    Every subscriber is contacted only on the terms they agreed to. We will not sell lists. We market across brands only where the consent and the law allow it, including the TCPA and CAN-SPAM.

  2. 02

    Mission over leverage

    Conservative capital structures sized to cash flow, so no company is pushed into a short-term sale.

  3. 03

    Brands keep their soul

    Each company keeps its identity and its relationship with its community. Only the back office is shared.

  4. 04

    Data serves people

    Assessment and church data are used to serve churches and families better, never to exploit them.

What could go wrong

Key risks.

  1. R1

    Deal risk

    The anchor is a non-binding proposal. It may not close, or may close on different terms or at a different price.

  2. R2

    Concentration

    Early in the funds' life, results will depend heavily on a single anchor business.

  3. R3

    Consent & data regulation

    Email and SMS consent may not carry over to new brands or owners. Privacy and messaging laws keep changing.

  4. R4

    Integration & execution

    Cross-selling, retail and international growth are plans, not track records. They need talent, capital and time.

  5. R5

    Consumer & key-person risk

    Discretionary spending, reliance on influencers, founder transitions and licensing terms can all affect results.

For accredited investors

Go deeper with us.

Request the full materials Back to the funds

Detailed financials, deal terms and offering documents are available only to verified accredited investors.

Sources
  1. Pew Research Center, "Religious identity," 2023–24 Religious Landscape Study (Feb 2025)
  2. Religion Unplugged, "'Never Been A Better Time': Increased Bible Sales…" citing Circana (Mar 2026)
  3. Hartford Institute for Religion Research, "Fast Facts on American Religion"
  4. Giving USA 2026: The Annual Report on Philanthropy for the Year 2025
  5. Spiral Bible, "Our Story"
  6. Ministry Insights, "Our History"