“We sell, for instance to a company like Microsoft, something they perceive as a Gucci handbag. Something they feel they really need and are prepared to pay a hefty premium for.” This was one out of many metaphors painted by David Sonnek, CEO SEB Venture Capital, when explaining the fundamental mechanisms of venture capital. “We look for businesses that are unique, scalable and with a global market potential.” However, neither the takers, such as Microsoft or Cisco, nor the entrepreneurs are regarded as their customers. Their investors, allocating assets to the venture capital fund, are regarded as their customers. A venture capital firm, such as SEB Venture Capital, offer the opportunity to these customers, such as pension funds, to invest in fast growing unlisted tech stratups, something they otherwise would not be able to do.
We are really happy that we had the opportunity to visit SEB Venture Capital at the SEB HQ and the privilege to listen to David Sonnek’s views on the industry and his inside stories.