Nexit Partner Spotlight - Michael Mandahl
"In the early days, a company is shaped by its customers," says Michael Mandahl, Nexit Venture Partner.
Michael Mandahl joined Nexit as Venture Partner in June 2005. He is an experienced ICT entrepreneur and venture capital investor who has overseen the founding, internationalization and successful investor exits of numerous ICT companies during the last two decades. Mr. Mandahl has a strong background in M&A activity and the creation of partner networks for international technology companies.
Before joining Nexit, Mr. Mandahl worked as Venture Partner for Sweden-based BrainHeart Capital. He had a central role in bringing Mobeon AB, a developer of wireless messaging services, to a global leadership position in its field. Mobeon services currently have over 40 million subscribers worldwide. At BrainHeart Capital, Mr. Mandahl led Ericsson's M&A activities, which included the integration of Ericsson's product unit with Mobeon. He was also responsible for BrainHeart Capital's investments in the United States.
What is the most interesting thing happening in the mobile industry right now?
Michael Mandahl: I think that the convergence that is driven by mobile entertainment is very exciting. It is an area that is still at the same level as medicine was when it was practiced by barbers.
On the technology side, I still think that the IP-everything trend is one of the hottest games in town where the big bang is still to come. The Internet stealth comeback as the greatest thing on earth is creating a lot of new opportunities for startups also in the mobile industry.
What kind of company do you like to invest in?
MM: I dream about a company with an offering based on strong and sought- after “heavy weight lifting” technology that can serve global customers from the start with a small marketing and salesoriented team. l like medicine was when i I am inspired by most of the entrepreneurs I meet. One of the benefits of being in the business of early-stage technology investments is that you get to meet people from all over the world with new ideas and a passion to do something with them.
Nexit has a strong presence in the world's three most important mobile technology hubs - the United States, the Nordic countries and South Korea. In my position as Venture Partner, I look forward to helping the company find and fund the most dynamic new companies in the mobile industry.
You have an extensive background in the global ICT sector. How does the industry climate differ between, for, example, Scandinavia and the US?
MM: Firstly, the startup environment is different. We have great entrepreneurs in the Nordics but the support system is not as developed so it is tougher for them to build a complete team. In the US, you will find many seasoned professionals who are not entrepreneurs themselves, but have experience from multiple startups.
Another difference is that many of the larger companies in the Nordics are quite advanced in ICT use in comparison to the US, but they can be more reluctant to experiment with new offerings from startups.
Generally, the pace is faster in the US. In my opinion, the Americans are much was practiced by barbers.” better at riding the horse the same day they put on the saddle.
What is the key to launching a successful startup?
MM: Focus on your core abilities; this is really an essential thing. Figure out a way to learn from the experience of others. This is done by both studying the market and by building a great network around you.
Then you start building the whole team and start performing like superstars. In the early days, a company is shaped by its customers, so it is really important to find the right lighthouse customers early on.
