Sebastian Saller

Ep.17 Drop #20Angel 🎙 The one & only Philipp Moehring, Co-Founder of Tiny Supercomputer Investment Company, joined me in the hot seat for a rare public appearance 🔥 👉 Introducing Tiny Supercomputer Investment Company FUND III ✍ 👉 Higher valuations = higher expectations 💣 👉 Giving Founders the freedom to be extreme 🤪 👉 Your access gives you your price 💰 Some Founder References on Philipp: dennis müller (Amie): "More than most, pmoe is a cheerleader. The journey is already hard enough, some VC's make it harder by sending unsolicited articles with "seen this?". He's the opposite. always fun to brainstorm ideas with him. Differentiated intros relative to others." David Budde (trawa): “He‘s been a great sparring partner and has a ton of experience. I remember, the night before our Pre-Seed closing, we found a minor but important error in our cap table. Unsure what to do, we called Phil late that evening for guidance. To me, it‘s super important to know that I can reach my investors, if it actually matters, and that they‘ll be able to help! + he’s just a really nice guy.” Milos Rusic (deepset): “Phil is amazing! He was actively involved in assembling each of our funding rounds - even in the first round where he committed before we had settled for a lead investor. He actively helped to construct our favourite setup of lead investors for that initial round. He knows everyone and his support is not limited to great intros - he really helps founders to assess and identify which investor could be a right fit for them. 100% reliable, massive value for every company. What they do is really unique.” This was a special one to do, hope you enjoy 🍿 https://lnkd.in/gTRT_SmJ 20VC, #AngelInvesting, #technology, #podcast, #entrepreneurship, #VC, #Founder, #Investing

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🎙️Podcast alert: Had a great catch-up with Kai on 🤝𝑪𝒍𝒐𝒔𝒆 𝒕𝒉𝒆 𝑫𝒆𝒂𝒍🤝 this week (🇩🇪) After our first session last year, we again talked about the latest developments in the SaaS and M&A market. Topics we've covered: ➡️ Our approach with saas.group, ➡️ Where we stand and what our goals are, ➡️ Current SaaS and M&A market trends, ➡️ How to properly value a SaaS business, ➡️ Role of AI in SaaS and M&A, ➡️ And more... You can check it out on all relevant podcast platforms. Links to Spotify and Apple below: 🟢 Spotify: https://lnkd.in/gn8RaVpD 🟣 Apple Podcasts: https://lnkd.in/g3kBWSBW Enjoy listening! 🙌 @ Kai, Anja + team: Thanks again for having me. Happy to speak again next year and see how good or bad my predictions were.

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Reading tip for all startup founders with fundraising plans in DACH: Investoren Report 2024 by Startup Insider. This report provides valuable insights into the venture capital landscape, and is a must-read for anyone looking to secure funding. Plus, it includes bonus material from IRIS on the latest developments in our ecosystem. Get your copy here: https://lnkd.in/dU-5AMPz #startups #founders #VC #LP #fundraising

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A business lesson that took me a few years to learn: 🗓️ 2020: I was part of the RBF hype from 2020-2022. RBF is short for Revenue-Based Financing. The RBF hype was a period of exceptional innovation in the dusty VC world. Together with Christian Stein, I built the business of a US fund in Europe from scratch. To many of my friends’s dismay, I posted a ton about RBF here on LinkedIn. I even co-authored a chapter on RBF in an investment book published by Springer 🤓 It was a *super competitive* time to be in the market! New funds entered the market every week. We expected unicorns and fairytales. All of us would flourish and continue to grow for years to come. Taking a bite out of that delicious VC cake. If there was a choice, my default decision was the faster, riskier, bolder bet. Being 26 years old, I only knew one direction of the market: up 📈 🗓️ 2024: A few years later, almost every single one of our old competitors is gone 💀 They went bankrupt, exited in a fire sale, or changed their business model. My old fund, Riverside Acceleration Capital, is still around. They played a different game all along. Focused on long-term viable partnerships. True better-together stories, even if that meant sacrificing hyper-growth. Back then, I didn’t understand how exceptional the market was that I found myself in. I didn’t understand that ZIRP was driving +99% of the investment decisions. I didn’t foresee that the shining stars of our industry would go down in flames in just a few years. Today, I am in the middle of a completely different trend. Again, I see competitors popping up left and right. Gitpod has become so successful that it inspires others to take a bite out of the CDE cake. 🍰 But I’ve learned my lesson. They truly don’t matter. Most of them will not be around 5 years from now. But one company will be there: Gitpod. If you are selling a product or service, keep that in mind: Being long-term viable is extremely important. Price accordingly. If new entrants underprice the market and sell at a loss, don’t worry. You are building long-term partnerships that require a business model that works. Make it real and share this idea in conversations with business partners and customers: smart buyers will value long-term viability over saving an extra 5%. Today, I am ready to explain and defend our long-term viability at any moment. I love collecting these business adventures. I’ve spent more time in Excel sheets than I care to admit. But some lessons need to be hard-won over the years :)

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Interesting analysis by Goldman Sachs' Chief Economist for Europe, Sven Jari Stehn, on Germany's problems (of which the structural ones are undoubtedly the most important): 1. Cyclical: - High price of natural gas since Russia's attack on Ukraine - Central banks' turnaround with interest rate hikes - Weak demand in China. 2. Structural: - Over-dependence on trade with China and imports of intermediate goods - The German automotive industry which continues to play an outstanding role worldwide has come under pressure due to the shift towards electric vehicles and digitalization (e.g. connected & autonomuous drive, SDV). - Germany has one of the lowest government investment ratios among the major developed economies - much money is spent on social welfare rather. - Demographic challenge is huge (upcoming retirement of baby boomers) - Excessive regulation (by international standards). 3. Political: - Limited scope for fiscal policy through the debt break enshrined in the constitution - Political fragmentation makes it difficult to pass needed reforms - Ukraine war harbors economic risks - 2nd term of Donald Trump as US President might have an impact on global trade (customs and protectionism).

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Obviously still some room to grow for the German & EU-VC/Startup-Ecosystem! Important sidenote: Whereas these charts look "bad" at first sight and should motivate all of us to further improve the German and EU-system, let's not forget that "less capital in the market" also correlates a lot with "attractive investment terms for the ones that are investing" - so likely investing in German/EU startups / grownups and funds will continue to provide a more attractive return than standing with 100 peers in a long queue in a potentially exagerated US/Chinese-funding round (and e.g. the FoF EIF-data from Bjorn Tremmerie et al seems to prove that assumption). (Ulrike Hinrichs; Verena Pausder; Christoph J. Stresing; Anna Christmann; Anna Alex; David Wortmann; Thomas Jarzombek; Holger Clemens Hinz, CEFA ...)

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Last week I had the pleasure to present at the Handelsblatt CFO Summit in Düsseldorf. It was great to get new inspiration, network and meet so many CFOs from other business areas. My presentation was all about demonstrating that investments in innovation and cost optimization don't contradict each other. In the contrary, often they go hand in hand. At Amazon we have for example invested in Machine Learning Algorithms which help us reduce packaging material. Less waste (even if its in our case 100% recyclable) is better for customers, better for the environment and of course also for our cost structure. Since 2015 we have reduced the weight of outbound packaging by over 41% and eliminated more than 2 million tons of packaging material. It was inspiring to hear that many other companies in Germany will also be investing in the future, and especially exciting that quite a few of the plans aim to improve German infrastructure and thus will help secure the long-term competitiveness and growth of the German economy. A big thanks for a great summit goes of course to the Handelsblatt team. Verena Schuster, Carola Backes, Christian Baier, Maike Schuh, Dr. Robert Hauber, Henrik Adam, Dr. Jutta Doenges, Gori von Hirschhausen, Melanie Kreis, Ingrid Heisserer, Dr. Jochen Cassel, Christopher Korduan, Barbara Gregor, Ilka Friese, Fabian Jeckel, Dr. Peter Kreutter, CFA, Tanja Dreilich, Benjamin Chatton, Prisca Havranek-Kosicek, Juergen Baudisch, Evelyne Freitag, René Aldach, Marco Nix, Dr. Wolfgang Gründinger, Kai Löffler 凯; Julia Stoetzel, Roland Löwe

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What would you wish to have told your 10 year younger self? Here are some pieces of advice. From Christoph Deckert, Strategy Expert at Personio & a16z scout. 1/ Invest in your passion. This is the main driver behind everything. Let it come through. Let us see your passion. 2/ Nurture your relationships. Personal. Professiomal. All kinds. People will always support people. 3/ Trust yourself. Trust your skills. Trust what you can achieve. What about you? What piece of advice would you offer to your younger self? #venturecapital #angelinvesting #startupfunding #europe

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🔸 🔶 🔸 AI is going vertical 🔸 🔶 🔸 In a new guest article for Gründerszene / Business Insider I talk about how vertical AI is revolutionizing the work environment: After genAI took the world by storm it has rapidly commoditized. To train an advanced LLM costs hundreds of millions of $$$. But the usage of LLMs has become commonplace. Now the AI world is turning vertical: How can genAI solutions successfully be deployed within industry verticals? Not on the surface but solving some of the tough industrial challenges in a substantially new way, driving an increase in productivity by a factor of 2-5? That has become a core area of interest for AI in 2024. Vertical AI is already making inroads into a number of core industries such as consulting, finance and healthcare but is also being used in less obvious sectors such as wind energy generation or sports. Over time it is likely to affect our work environment across all sectors. And - unlike earlier automatizations - it is going to affect mostly white collar rather than blue collar work. Welcome to a new and lasting technological disruption. Gründerszene, the leading online magazine for the startup scene in Germany (operated by Business Insider), got interested in the subject and has featured an article on the subject this week. Take a look at the online article following the link below (in German): https://lnkd.in/ecJcUwHK (the Gründerszene article as a pdf: https://lnkd.in/eimBKSQP)

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🎉 𝗜'𝗺 𝘃𝗲𝗿𝘆 𝗲𝘅𝗰𝗶𝘁𝗲𝗱 𝘁𝗼 𝗮𝗻𝗻𝗼𝘂𝗻𝗰𝗲 𝘁𝗵𝗮𝘁 𝗜 𝗷𝗼𝗶𝗻𝗲𝗱 𝗝𝘂𝗻𝘁𝗼'𝘀 𝗖𝗛𝗥𝗢 𝗮𝗱𝘃𝗶𝘀𝗼𝗿𝘆 𝗰𝗼𝘂𝗻𝗰𝗶𝗹 𝗮𝘀 𝗮 𝗳𝗼𝘂𝗻𝗱𝗶𝗻𝗴 𝗺𝗲𝗺𝗯𝗲𝗿! As a partner providing tailormade leadership development programs to its clients Junto's belief is that People & Culture needs to have a seat at the C-level table - ultimately business performance can only be sustainably reached through and with people 💡 I couldn't agree more - and I'm thus very much looking forward to work with Junto's founders Marius Hepp and Johannes Schnell-Kretschmer, helping them to develop innovative products that help people teams to unleash their full potential 🚀 Couldn't be happier to do so in the amazing community of three thought leaders who already represent the people function at the C-level table, too: 💪 Annika in der Beek, who I deeply admire for breaking down the most complicated issues to their essence to build solutions out of them and who was recently appointed Statista's first ever CPO 💪 Roxana Dobrescu, a professional globetrotter in the work context, well-versed and who led people teams through hypergrowth at Glovo and now as CPO at commercetools 💪 Miriam Sternitzky (née Rabung), who I highly appreciate for being a tireless networker, for bringing people together and for being a role model for sharing is caring and who serves now as CPO at Westwing after a dream career in the firm I believe that to shape the future of HR, it will take more than just us - it will require an entire village: ➡️ Who are the People & Culture leaders who have inspired you the most? Tag them in the comments 👇 #hrrocks #chrocouncil #junto #leadership

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INSRD: Reinventing Business Insurance! Meet INSRD, the Berlin-based insurtech that's changing the game for business insurance and risk management. Raised €500k pre-seed to bring you a smarter solution! Here's how they do it: 1. Adaptive Coverage: Insurance that grows with your business. 2. Expert Advisory: Tailored advice to handle new risks. 3. Tech Power: AI-driven platform to keep you covered. INSRD's Protect & Connect platform keeps your insurance up-to-date, ensuring you stay protected no matter how fast you grow. Why it matters: Accurate coverage means peace of mind and security for next-gen industries like AI, Creator Economy, and Robotics. Have you reviewed your business insurance lately? John Ismailoglu, Evgeny Bezlyudnyy, Stefan Balg, Valeriy Bykanov 🇺🇦 Randolf 🐸 Schürmann, Kevin Halpape, https://lnkd.in/dEhb82Wb #Insurtech #BusinessGrowth #RiskManagement #MondayFunding

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I'm thrilled to share that @Smart Reporting has successfully closed a financing round of 23 million euros, with TVM Capital Life Science leading this Series C funding. A warm welcome to our new investors, including Bayern Kapital, as we bolster our resources to expand further into #NorthAmerica and #Australia. This significant capital infusion will accelerate our #mission to revolutionize medical reporting with advanced, AI-supported products. As we step into the #future, our focus is clear: to enhance healthcare IT markets globally and introduce cutting-edge, AI-based solutions that transform radiological and pathological reporting. The power of #genAI and large language models (#LLMs) is redefining what's possible in the healthcare sector. At Smart Reporting, we're harnessing these advancements to provide crucial support to radiologists and pathologists, making their work not only faster but also more accurate. As we gear up for this growth phase, I'm also pleased to announce the expansion of our management team, welcoming Christian Matzen as our new CFO and COO, and recognizing Sigrid Auweter's expanded role as CPO. A big thank you to our existing #investors for continuing on this journey with us and to our new investors for believing in our #vision. The road ahead is exciting, and I look forward to what we will achieve together in making #healthcare more efficient and effective worldwide. #HealthTech #Investment #ArtificialIntelligence #MedicalReporting #Radiology #Pathology #GrowthStrategy #Innovation #AI

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M&A Strategy: Key Elements for Success By Thomas Kessler   Managing Partner at Integration Success GmbH and Atlantic M&A Partners | Pioneer in AI and M&A Integrations   #MergersAndAcquisitions #StrategicAlignment #ExecutiveEngagement In the fascinating world of M&A, success hinges on a well-crafted strategy that covers every aspect from target selection to post-integration. Here’s a concise guide on essential elements to focus on: 1. Target Capabilities and Profile: Identifying the right target involves assessing capabilities and ensuring alignment with strategic goals. This means evaluating potential targets’ strengths, weaknesses, opportunities, and threats within their environment. 2. Purpose and Value Proposition: Clarifying the strategic purpose behind the acquisition and the value it brings is crucial. This involves aligning the acquisition’s objectives with the overall strategy and tracking performance post-acquisition. 3. Best Owner of the Asset: Determining the optimal owner involves understanding which entity can extract the most value from the asset. Identifying synergies and integration points is essential to maximize value. 4. Business Case Development: Building a robust business case ensures that the acquisition is financially sound and strategically justified. This includes forecasting potential outcomes and assessing risks to ensure a solid foundation for the acquisition. 5. Integration Approach: The integration strategy should focus on achieving operational and cultural synergy. Effective change management and meticulous planning facilitate smooth integration and track progress. 🔍 What strategies have you found most effective in your M&A projects? Share your insights below! #SynergySessions #CorporateStrategy #IntegrationPlanning #PostMergerIntegration #MandAInsights #IntegrationSuccess #MandAStrategy #LeadershipInMandA

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4️⃣ 8️⃣ 𝗛𝗼𝘂𝗿𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗟𝗶𝗳𝗲 𝗼𝗳 𝗮 𝗖𝗘𝗢 #𝗯𝗲𝗵𝗶𝗻𝗱𝘁𝗵𝗲𝘀𝗰𝗲𝗻𝗲 Ever wondered what a CEO’s day-to-day looks like? Join me on my 48-hour business trip to Hamburg, where I had the privilege of engaging in dynamic and insightful meetings across this vibrant city. btw: it's the only city I would leave my beloved Karlsruhe for 😉 𝗥𝗲𝗰𝗼𝗻𝗻𝗲𝗰𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗣𝗮𝘀𝘁 I kicked off my trip by meeting with a former client, someone who was there when I first founded my company. It was an incredible experience to catch up and see how our respective businesses have evolved. Reflecting on our journeys reminded me of the importance of long-term relationships in business. 𝗘𝗺𝗯𝗿𝗮𝗰𝗶𝗻𝗴 𝗡𝗲𝘄 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 Next, I had meetings with two new clients. This was a revelation for me. Instead of the traditional keynote presentation, we engaged in deep, meaningful conversations. Listening to their needs and ideas opened up new perspectives and underscored the value of genuine dialogue over structured presentations. 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝘇𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗖𝘂𝗿𝗿𝗲𝗻𝘁 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀 I also met with our current clients to review project statuses and discuss strategic directions. Each meeting took place in unique settings, from classic office environments to a fancy hotel bar at The Fontenay with a stunning view, and even a refreshing walk along the Alster. These diverse backdrops not only made the meetings more memorable but also fostered creativity and openness. This trip reinforced a key lesson for me: the best insights often come from varied environments and authentic conversations. Hamburg, with its rich blend of tradition and innovation, proved to be the perfect setting for this intense yet fulfilling series of engagements. See you soon!   Would you like to read more behind-the-scene stories on my account? #business #ceo #worklife #career #ilovemyjob

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The Importance of a Week One Event in M&A Transactions: Driving Engagement and Integration Success By Thomas Kessler   Managing Partner at Integration Success GmbH and Atlantic M&A Partners | Pioneer in AI and M&A Integrations | #MergersAndAcquisitions #StrategicAlignment #ExecutiveEngagement In the dynamic world of mergers and acquisitions, the initial phase post-acquisition is crucial. A well-structured Week One event can be a game-changer, fostering engagement and ensuring a seamless integration plan. The Week One event provides a platform for both the acquirer's and the target's management teams to refine, optimize, and align their integration strategies. This collaborative approach not only identifies potential improvements but also ensures that all stakeholders are on the same page, thereby minimizing future disruptions. Moreover, such an event is instrumental in creating buy-in from all participants. When team members are actively involved in shaping the integration plan, their commitment to the plan's success increases. This engagement is vital for overcoming the inevitable challenges that arise during integration. Finally, the Week One event sets a positive tone for the integration process. By prioritizing clear communication and collective problem-solving from the outset, companies can build a strong foundation for long-term success. How do you ensure effective engagement in your M&A integration plans? Share your thoughts and experiences in the comments! 🤝💡🤔 #IntegrationPlanning #PostMergerIntegration #MandAInsights #IntegrationSuccess #MandAStrategy #LeadershipInMandA

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Strong founders are like benevolent dictators. 👑🤝 How do personality profiles of successful early-stage founding teams differ from those who are not so successful? We analyzed our 83 early stage founders in our Techstars Berlin portfolio to understand the secret recipe of successful founding teams at the early stage. Our founders took an assessment called Profile Dynamics®, which is an assessment designed to analyze people’s individual driving factors and motivation. Cornelius Schaub and Robert Siegers were so kind to introduce this to us. Profile Dynamics breaks personality factors down into 7 main categories 👉 💡 Yellow: Inspires with visionary ideas, forward-thinking, optimism, and is analytical 🏆 Orange: Competes, plays to win and to be viewed as successful 🏎️ Red: Executes quickly and decisively, and not afraid to be confrontational when necessary 💜 Purple: Stays loyal and dedicated to a cause or people, seeking security and safety 📘 Blue: Thrives in a structured environment, seeking stability and reliability 🌿 Green: Seeks harmony among people, listens empathetically, and desires consensus 🌐 Turquoise: Sees situations holistically, integrates difference in perspective, connects dots Here is the pattern in most of our founding teams that were successful in early-stage fundraising: 🏎️ More Decisive Red 🔴 Successful teams have on average 10 more points on their red score than unsuccessful ones. Takeaway: Strong founders are masters of execution. They cut off discussion to act quickly and decisively. They are relentless in working toward their goals, even if it sometimes means stepping on some toes. 💡 Lots of Visionary Yellow 🟡 100% of our most successful teams have at least one co-founder with a score of yellow higher than 10 points (average difference is 7 points). Takeaway: Successful founders are insanely ambitious with a vision for a new future. They can set a clear and inspiring Northstar for their company. They push for data to back up their vision and set the course. 🌐 Some integrative turquoise 🌐 Successful teams have on average 4 more points on turquoise than unsuccessful ones. Takeaway: While being decisive and visionary, it is critical to be able to integrate a diverse set of opinions around the (leadership) table. Strong teams tend to think in “and” not in “or” (e.g. growth AND profitability). 🌿 Less Harmonious Green 🟢 Unsuccessful teams have on average 8 points more in green. Takeaway: Unsuccessful founders often focus too much on building internal alignment instead of making decisions quickly and executing them. Therefore, don’t feel bad about being assertive and making decisive choices from time to time. We define successful as having raised a (pre-)seed round from institutional investors. Our sample size is 83. While this does not qualify for a scientific publication, is should give some practical advice.

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The next shout-outs are due: in my work with Founder Institute Berlin I have been mentoring startup founders with different backgrounds and the diversity of ideas is always challenging to work with: you never know what question comes next, but it is fun to figure out new ways to build products together. 🛳 Bernhard van Riessen is working on changing the way how companies deliver and make spare parts, just the fact, that his team has the curiosity and courage to take on such a challenging industry and actually make it more sustainable and efficient brings the wow factor in. We worked on understanding the product direction better and looked at the pitch. 🧠 Ric S. has been building his app in the currently trendy space - ADHD and neurodiversity awareness - but for a really long time. This idea is so amazing and such an easy way to solve scheduling issues for people with ADHD, that I was grateful to have helped to develop it even further and I hope to see it get the success it deserves. Having the trust of the founders I work with is a big deal for me because I do believe in the power of the network and the environment: the better the place you start from - the bigger the chances that your company grows into something worthwhile. That is why it is so important to me to share my expertise with the ones, who asked for it. Stay tuned to see more soon 🚀 #founders #mentoring #successstories

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One Key Learning from the WHU Accelerator 🦉: Don’t Strive for Exact Answers, but for Data Points. One week ago, we concluded the WHU Accelerator with the Demo Day, pitching Cuinti to a gathering of founders and investors from the WHU – Otto Beisheim School of Management community. 🌍 A highlight of the program was Mentor Mayhem: two intense weeks of daily 1:1 mentorship sessions with renowned WHU founders and investors. Imagine two weeks of constructive “roasting” and receiving tons of valuable feedback! 🔥🌀 My observation: There’s no single “right” way. Whether in fundraising, go-to-market, or sales—everybody offers a different perspective. You can talk to three super successful founders back-to-back and get three different answers to the same question. 🤔💬 The learning: Even the best founders can't tell us the "right" way to do things. We have to make decisions ourselves by collecting data points. Each feedback, impulse, and tip we receive is one data point that will later help us make a better, more educated decision. 🎯 Connecting with experienced mentors is profoundly valuable. I'd even argue that it's essential. Because while they may not provide exact answers, they guide us to discover our own paths much faster. 🌿⏳ Have you had similar experiences? Thanks to Maximilian Eckel, Niklas Geiss, and Robin Jonathan Metzger for organizing this program. And special thanks to Jérôme Bau for joining me on stage. ❤️ #Entrepreneurship #Startup #Mentorship #WHUAccelerator #DemoDay #WHU #Learnings #WHU

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