At the recent ‘Bits & Pretzels’ fair in Munich, venture capitalists and start-ups gathered to network and pitch their ideas. However, this year’s event had a different feel, with meetings resembling speed dates and venture capital starting to resemble private equity. In the past, venture capitalists were known for taking risks and focusing on long-term growth, but now there seems to be a shift towards short-term gains. In an interview with Andreas Riegler, Founder and General Partner at APEX Ventures, he discusses his role as a venture capitalist and his passion for driving technological advancements in the deep tech sector.
Riegler explains that in venture capital, the focus is on identifying start-ups with above-average growth potential and the ability to unlock large markets. Profitability is important, but it should not overshadow the foundational elements of product development, market fit, and building a disruptive presence in the industry. He also notes that deep tech companies face unique challenges in finding technical talent and commercial-minded team members.
When it comes to environmental, social, and governance (ESG) factors, Riegler believes that while they may not be the primary driver for investments, they are increasingly influencing investment considerations. Deep tech companies often have a higher concentration of individuals who are driven by purpose and impact. For example, portfolio companies like OroraTech are using satellite technology to detect wildfires early and reduce CO2 emissions. Riegler also emphasizes the importance of diversity in the tech industry and how his team strives to set a good example by having a diverse team with people of different ages and genders.
Overall, Riegler believes that startups can aim for both top-line growth and a healthy bottom line, but it requires strategic prioritization, impeccable execution, and adaptability to market dynamics. He also highlights the importance of making an impact and being focused on solving substantial challenges in the world through technology.
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