VC Corner Q&A: Philippe Von Klitzing of JOIN Capital

Philippe Von Klitzing is an Investment Analyst at JOIN Capital, an early stage investment firm based in Berlin. Prior to his engagement at JOIN Capital, Philippe worked as a strategy consultant at CEPTON Strategies, a Paris-based strategy consulting firm specialised in operational strategies and due diligence on investment targets in the healthcare sector.

Read on to learn more about JOIN and Philippe’s investing philosophy!

— What is JOIN’s mission?

Our mission at Join is to fund European software companies between Seed and Series A within a broad sector we call the Neue Industry. It’s an enterprise-centric logic centered on deep-tech enablers (think cloud, machine learning, AI, autonomous robotics) who allow for substantial efficiency gains delivered by autonomous technologies and data analytics.

Startups that master this new industrial world offer unprecedented ROI possibilities to their customers in all industrial sectors from manufacturing to real-estate and automotive to chemicals. We have both a strong expertise and an incredibly valuable network of industry corporations, from which we’ve derived a skill-building program series that equips founders with targeted strategic performance foundations to address common roadblocks.

— What was your very first investment? And what struck you about them?

My first investment at Join Capital was into Valispace back in March of this year. Both founders, Marco and Louise, were previously working as satellite engineers on Europe’s largest satellite project. They were fed up with the status quo of how hardware engineers work and collaborate. They spent more time on non-engineering tasks and nothing really had changed in the past 20 years!

I was struck by their tremendous expertise and vision about how the future of smart & data-driven engineering should be less complex. Their industry agnostic solution proved to be perfect in COVID times as companies switch to remote engineering collaboration solutions.

— What is one thing you’re excited about right now?

As 2020 comes to an end, I’m excited to see if all the prophecies about the economy and the internet that were made at the beginning of the COVID crisis are going to come true. There was a huge social media trend from March to May around making predictions, but we’ve now realized that we’re merely sailing at sight.

The promising first trial results of Pfizer & Biontech’s vaccine have turned the tech stocks market world upside down in a couple of days and re-launched the debate on a return to normality, whereas 6 months ago it was argued that the world would never return to its pre-COVID state. Let’s see how this plays out!

— Who is one founder we should watch?

Jamie Potter, from Flexciton, who’s very charismatic, incredibly smart, focused, and is building wit this team the most advanced scheduling solution for the semiconductor industry — backbone of any electronic device or hardware out there!

— What are the 3 top qualities of every great leader?

• Inspire others with their vision
• Being able to show resilience in bad times
• Decision-making capabilities

— What is one question you ask yourself before investing in a company?

Is this solution able to generate substantial, quantifiable efficiency gains for its users & customers?

— What is one thing every founder should ask themselves before walking into a meeting with a potential investor?

“How can this investor help me on my journey with more than just money?”

— What do you think should be in a CEO’s top 3 company priorities?

• Recruit top talent with a good company fit
• Aligning that talent with company strategy
• Showing flexibility and constantly innovate

— Favorite business book, blog or podcast?

That’s a tricky question as I do have more than just one, but if I had to pin one down it would be “Let My People Go Surfing” by Patagonia’s founder Yvon Chouinard, in which he outlines the difference between changing methods of conducting business and constant culture and philosophy. I listen to three podcasts usually (one in German, one in English and one in French actually!). Gabor Steingart’s “Morning Briefing” is a nice and crisp overview of daily political and economic topics, Azeem Azhar’s “Exponential View” outlines the impact of tech on business and society, and last but not least RMC’s “After Foot” covers French and European football (because let’s face it, business and politics are not everything!).

— Who is one leader you admire?

Bernard Arnault, long-time CEO of LVHM, the world leader in luxury. Behind its appearance of coldness and rigour, passion dominates. His success can be explained by its ability to finely balance innovation and marketing management. He is also an outstanding pianist and a great lover of art.

— What is one interesting thing most people won’t know about you?

When I was at UCL in London, I co-hosted a two-hour radio show on the local radio station “Rare FM” every Thursday night, during which a friend (Hi Arnoud!) and I would DJ. We recorded the sessions on Mixcloud, so if you’re interested in electronic music and deep house, search for “East Meets West” on Mixcloud!

— What is one piece of advice you’d give every founder?

To first time founders, hire the right people. Hiring smart and amazing talent is the most difficult thing a founder will do but also the most transformative step for their business.

Ready to make a pitch? Startups looking for an opportunity to pitch JOIN or other great funds can apply here!