Angel investing passion – People, innovations, and big impact
February 23, 2017
FiBAN’s new chairman Torsti Tenhunen described his key drives for making startup investments.
“What do you do at work? Do you like it? Why do you like it?”
You may have experienced it. Your kids or parents asking those tricky questions. While you are rolling on the floor and trying to simplify your passion into understandable answers, you may also realize how important these answers are.
For me angel investing passion can be put into three main categories: People, innovations and big impact. I have always been excited about innovations and long-lasting impact of them. I have always been a “garage inventor” by myself. Personality tests claim that I’m an “out-of-the-box” type. In my early days of entrepreneuring, this meant that I was doing stuff way too early. Lessons learned.
And I have always been excited about coaching and training. Some say that I’m good with it. Especially in Nordics, angel investing is mostly dealing directly with startup founders, who are innovative and passionate people. Helping them to grow (and avoid my mistakes) is a wonderful task, especially with our Pivot5 accelerator.
“Scalability is one of the most
important forms of impact.“
But without the big impact, giving money and time would be doomed soon. Scalability is one of the most important forms of impact. “Scalability is a no-brainer” we say often. What I specially like in impact, is platformization. Some of the most interesting startups are knowingly or subconsciously creating something which enables other businesses to scale. Monetizing that indirect scalable position requires innovations in the business model. It is very exciting when I see that happening.
But then there is the social macro economic impact. Startups truly create jobs and incubate and accelerate opportunities that make them bigger employers some day. Startups and scaleups are truly the hope in the new economy.
So what did I answer? Something like this: I help people that have new ideas, to start selling them by advicing and giving some money. I really like it. I like it because that is the way world gets better and maybe I can earn some money as well.
FiBAN, Chairman of the Board
Torsti Tenhunen has 19 years of entrepreneur, leadership and investor experience in digital service business, marketing communication and corporate strategy. He is known as an unaffected impact seeker, service innovator and brand strategist. Currently with 18 startup investments, 4 exits and 1 IPO.