“Forward-thinking” is a term Oliver uses a lot, and in his view, it is also a character trait any startup investor should have. He says that he was always eager to try out new things: Years ago, he co-founded two internet platforms and he also was one of the first bitcoin miners in Switzerland. “It’s funny to think how many bitcoins I owned at that time, but I also had to sell many of them to cover the cost of the server farms”, he says. With a keen interest in sustainability and new technologies, he was also one of the first owners of a Tesla car in Switzerland: “I couldn’t wait for the Model S, so I opted for the Tesla Roadster”, he muses. Later, he co-founded the Swiss Tesla Owners Club, which has grown from 6 to over 1000 members today.

Olivers drive to discover novel things also guides his investment strategy. Some investors only look at startups in a given field, while Oliver tries to be open-minded and look at different sectors – even if that entails reading a lot about all kind of different topics. For him, a curious mind is a character trait most business angels possess.
“What people who invest in startups have in common is a pronounced interest in innovation. It is natural that they have a tendency to look at startups active in a field they are familiar with. Personally, I am interested in everything technical. However, I try not to limit myself, because I realize that there are incredible opportunities in other domains too. I, for example, lack expertise in the medical sector. So I rely on the screening and research Verve Ventures investment managers do. This approach effectively lowers the hurdles and empowers me to look at domains I would not feel comfortable enough to invest in on my own.”

While Verve Ventures works as a digital platform connecting potential investors with entrepreneurs on the web, it also regularly organizes meetings between the two groups in its offices across Switzerland. In his investment decisions, Oliver relies mainly on the information available on the platform, but also wants to meet the core team of a company whenever possible.

“If someone wants to get rich quickly, he should look somewhere else than in venture capital”

“I want to feel the founders. Do they thrust forward or are they hesitant? Are they hyperactive and commence a lot of things without getting anything done? This kind of information is easier to get in person. I am looking for people that can pursue their vision even when it hurts. A good entrepreneur needs an elevated capacity for suffering. However, there is no archetypical founder, as the skills needed to succeed differ greatly from one company to another. One addresses consumers, the other business clients, one needs to build a great sales team, the other prepares itself for a sale to a tech giant, and so on.”

Oliver says that a lot of people he knows do not want to invest in startups because they think it is too complicated or fear they might get cheated on. The most important defense against this, in his opinion, is to invest together with trustworthy partners – to be part of a network of investors. That being said, he cautions against a motivation beginners might have:
“If someone wants to get rich quickly, he should look somewhere else than in venture capital. To place large bets on a few risky businesses is definitely the wrong approach. Diversification is key and it is important that you have a roadmap with that goal in mind. The opportunities are plentiful – you could invest all day. So it is important to assess the risks of each and every deal thoroughly. You should aim to make ten small investments over time rather than a one or two large ones.”
When it comes to the criteria he applies to potential investments, Oliver underlines the importance of a good product-market fit. One of his first investments via Verve Ventures was CombaGroup, an agritech producer of lettuce. As Oliver says, the firm came to the market at the right time, when it began to matter to consumers that their food is produced locally instead of travelling thousands of kilometers.
He tries to help founders grow their business whenever possible: “I’ll making introductions with my professional network or give specific advice if I can. However, as an investor you should not be a distraction for the founders or try to interfere with their vision.”

As an investor you should not be a distraction for the founders or try to interfere with their vision

Investing in startups is not for everyone though, he cautions. It is something for active people who like to learn. If you’re new to the field, Oliver advises to take a small amount of money, an amount that will not hurt you if you lose it, and do a first investment.
“You will never find out if venture capital is something for you if you don’t actually invest at least once. This is the only way to experience the joy and pain associated with it. It takes time and determination. Apply yourself; go and meet with the founders; read the documents Verve Ventures provides on startups raising capital; stay active. It is not comparable to investing in listed equities where you can base your decisions on analyst reports or numbers like a dividend yield. Venture capital lacks the liquidity of the public markets, the transparency and in the end, the returns are hard to predict. As a private investor, you should not delude yourself and think that you can easily replicate the returns of mammoth VC companies like Sequoia with a few investments.”
When it comes to failures, Oliver says that in hindsight, things often appear much clearer. “Having a complete loss in your portfolio deflates your ego. But the soul-searching that comes with such an event has its positive side. You learn to look closer when you see red flags, you try to judge plans with realism and not euphoria.”
Being a self-declared geek, Oliver is still enthusiastic when it comes to new companies on the Verve Ventures platform. He sees potential in Astrocast, a swiss satellite company that wants to enable machine-to-machine communication. And, as a Tesla owner, Oliver is proud that Astrocast’s first satellite was transported to orbit using a SpaceX rocket, the other major venture of Elon Musk.