In the dynamic world of venture capital, the search for promising Founders is an intricate dance of identifying potential and a unique blend of qualities and experiences that set individuals apart.
We had the opportunity to sit down with Robert Antoniades, a seasoned investor renowned for his keen eye in selecting exceptional Founders. As a Co-Founder of Information Venture Partners, he leads investments and serves on the Boards of some of Canada’s most forward-thinking tech startups. With an interest in finding disruptive ideas and entrepreneurs who believe in new or better software that can change the world, his main areas of focus include SaaS, next-generation analytics, capital markets, banking, wealth management, insurance, and regulatory technology.
In this interview, Rob sheds light on the crucial elements he seeks when considering an investment round and shares insights into what makes a Founder stand out in the competitive entrepreneurial landscape.
What qualities and experiences do you look for in a Founder when looking to invest?
First and foremost, we look for domain experience and having lived the problem they are trying to solve. If we’re giving them money to build a great solution, we want them to understand the depth of the problem.
Second, the ability to listen. Founders, like anyone, don’t know everything and should look for opportunities to learn from others’ experiences. This is particularly important for the team they build around themselves.
Third, a sense of curiosity. This is important even when you’re “winning.” Great Founders are always looking for answers – why didn’t we win this customer, for example, or why are we winning in this vertical? This questioning leads to creating systems and repeatable processes that amplify success.
Finally, anybody we work with needs to be transparent and willing to build a relationship of trust. Founders and CEOs who don’t tell you what’s wrong with the business (and ask for help) will struggle to find long-term success.
What measures are you seeing the best-run companies put in place to ensure continued success in this more challenging economic climate?
You have to be in control of your business: managing your burn (expense base) relative to growth expectations, and ensuring you have enough capital to withstand a challenging economic market – this is also when great companies question everything (Is pricing correct? Do we have the right customer base?) because you have time to dive into the core strategies behind your business, and curiosity continues to be key for teams to adapt to any market condition.
Additionally, now is the time to evaluate your team. There are many talented people in the market now, and you have the opportunity to search out the right and best people, not just for now but for well into your company’s future. Reassess talent and make changes sooner rather than later.
What technological developments in the finance market excite you the most, and what makes them stand out?
AI – we are just beginning to see the power and the breadth of AI – as demonstrated by the speed of growth from Generative AI. We are just starting to imagine the future that can be shaped by AI. We’ve had companies using AI in our portfolio for many years, which is especially exciting to us as investors. Especially the speed of change.
Office of the CFO – we’re two decades into a multi-decade evolution of enhancing the finance function and the role of the CFO to become more strategic. While a lot has been done, there is a lot more to do. We expect that companies will continue to invest in the infrastructure supporting the finance activity.
Cybersecurity – we know that cybersecurity is important, but with every year it becomes more critical. The vectors of cyberattacks are growing, the number of attacks is growing, and the sophistication of the attacks is improving. Businesses are really starting to understand that attackers only have to be right once, while security needs to be right all the time to protect people, capital, and brand value. In finance specifically, there are billions of dollars at risk, so we need innovation.
As we conclude our interview, it is evident that successful investments are not just about financial metrics but also about the character and approach of the Founders. In this challenging economic climate, Robert advises companies to take control of their business, question core strategies, and seize the opportunity to build a resilient team.
The investment journey is about the destination and the partnership between investors and Founders, guided by a shared vision of innovation and success.