When they set out to build their own companies, they needed an investor like that.
With the aim of leading early-stage rounds between 1 million and 10 million, the founders of Plural are an overachieving lot. They include the founder of Songkick and the CEO of Wise. They intend to offer their entrepreneurial expertise as well as capital to their portfolio of companies because of their track records in leading such notable successes.
Only 8 percent of investors in Europe have worked in fast-growing tech companies. Hinrikus gives an explanation. The US is decades ahead of us. Entrepreneurs have brains that are configured for life. Many investors ask why legal costs are higher this quarter. It doesn't make or break a company, but ex-founders can look at the things that matter.
A total of 10 entrepreneurs will be added to the team by the end of the year, another 20 the year after, and thereafter maintain an ambitious rate of growth. Hinrikus says that they have identified a bunch of possible new investors and are working to identify the entrepreneurs ready to make that journey You can trust people who are ready to become a partner. Investing is too short-term. Being a company builder means not looking at a single line in a spreadsheet but sitting next to you and being on the wavelength.
Certific, a company that offers guided home testing for conditions such as urinary tract infections or Covid-19, is one of the companies that has received an investment from Plural.
He says that they all gravitate to harder things to resolve. Khalid is interested in artificial intelligence, Sten is interested in Web3 and I am curious about the weather. Women make up 29 percent of our portfolio and minorities make up 36 percent. There is nothing in our term sheets yet, but we are aware of the need for more diversity. That sounds more like a publicity stunt.
Although there is plenty of capital looking for deployment, raising funds has become more difficult due to the financial challenges. The amount of money invested in European startup fell from 29 billion in the first quarter of the year to 14 billion in the second quarter.
It isn't enough to think in national terms. We want to help Europe as a whole. Thanks to the stay in the game, Estonia got really lucky. The country has a population of 1.3 million. I would love to speed up Europe in the same way.
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