The firm focuses on investing in startups that are 2-3 years old and operates in sectors such as E-Commerce and Software. It prefers startups with fewer founders and typically invests in rounds with 5-6 participants. Siemens Mustang Ventures has had a higher number of lead investments compared to other companies and has had successful exits in 2004. The firm typically invests in deals ranging from $10-50 million and is associated with sponsors like Dain Rauscher Wessels and Walden International.