10 investor insights from Lead Investor, Tronn Skjerstad
Continuing our series of interviews with Lead Investors on Funderbeam, we are excited to introduce you to Tronn Skjerstad, who is currently leading the investment in Fara Cycling. Tronn is an experienced investor with a PhD in Industrial economics and background in information technology and media. Currently, he is also an associate professor at the University of Oslo and the
Norwegian University of Science and Technology
As an early stage investor, what questions do you always ask when looking at a business and its management team?
I’m very interested in getting a key understanding of the business and whether it’s a company worth investing in. So I always ask;
- Who is the team here, and how committed are you?
- What are the team’s core skills?
- Who are your external partners on what areas, and why?
What is the biggest lesson you have learned in investing in early-stage companies?
For me, the biggest lesson I learnt was finding out what the formula for success was. Team x Product x Luck. You can never underestimate that sometimes you need to get lucky to succeed.
Are you sector agnostic when it comes to making investments as long as they meet your criteria?
I do have a tendency to invest in the areas I am more confident in or areas I feel I can offer more in the way of contribution. I would say I am more focused on telecom, media, energy and retail.
Can you tell us about some of your favourite companies in your portfolio?
I’ve been quite fortunate as I have quite a few companies across different areas in my portfolio that I really like! If I needed to name a few I’d say;
- FARA Cycling — beautifully designed customised high end bikes,
- Happybytes — the most aggressive mobile service operator in the Nordics
- Becour — a company that guarantees the origin for clean energy and
- Dirtybit — a highly profitable mobile gaming company
What areas do you think will present the most opportunity for early-stage investors over the next 18–24 months?
I don’t tend to follow trends as much, I believe that a lot of people will rush to the same things: AI, two-sided platforms and big data among others. Whereas I will continue to look for good teams in sectors I believe I understand, like the ones mentioned previously.
Where are you seeing the most exciting early stage opportunities? What are the ‘ones to watch’/ most currently underrated?
I have the privilege of being an Associate Professor at the Norwegian University of Science and Technology in Trondheim (NTNU) where I see a stream of new talented entrepreneurs coming out. In networks like this and other similar ones is where I expect to see the next wave of early-stage companies developing.
It’s really great to see some of the companies coming out of NTNU being able to raise funds on Funderbeam, such as Exero Technologies who’s founders were my students when they were working on the business idea.
How did you discover Funderbeam?
I first learnt about Funderbeam through the founder of FARA Cycling, Jeff Webb. He is constantly searching for opportunities and new business relations!
One of Funderbeam’s key strengths is our ability to put together investors from all over the world in one syndicate. What are your favourite cities and why?
I have so far found it very interesting to meet investors from Denmark, Croatia, Estonia, and Iceland, but I expect to learn more over the next few months.
What book/podcast do you most frequently recommend to friends and family and why?
As an academic and a practitioner I recommend: «Thinking Strategically» by Avinash Dixit and Barry Nalebuff. It gives insight into negotiations and strategic thinking in both business and everyday life.
Tell us something people are surprised to learn about you?
I am still the fastest man ever to cycle the classic distance Trondheim-Oslo (540 km in 12:51 hours)
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The information appearing in this blog post is approved as a financial promotion by Funderbeam Markets Limited (authorised and regulated by the Financial Conduct Authority under FRN 794918). Complete and comprehensive information about an investment opportunity is only available to the investors who have been approved by a Funderbeam group entity. Funderbeam does not provide investment advice or any recommendation to invest. The investment opportunity should not be considered as an offer to the public and is not directed at or offered to anyone located in a jurisdiction where it is unlawful to do so.
