Investing in Tomorrow: Expert Insights on Tech Startups
In the dynamic world of technology and investments, Tom Aerts, Head of Investments at LRM, and Roald Borré, member of the executive committee at PMV, play a crucial role in supporting and guiding startups and scale-ups. With years of experience and a keen eye for innovation, they know better than anyone which trends will shape the market and what a startup needs to succeed. In this exclusive review of 2024 and outlook for 2025, they share their insights on standout deals, promising companies, and key lessons.
Investing in Innovation: Successes and Opportunities
Aerts praises the resilience of Senhive, a company that managed to recover and grow despite difficult circumstances. "Senhive has held its ground in a tough market, and that makes this investment particularly valuable," Aerts states. Borré, on the other hand, highlights Monarch, a company that showcases the different scale and approach of American startups. Borré thinks U.S. companies see the world through a different lens than Europeans. "Their scale and methods are in a league of their own," he adds.
Both investors see AI as a driving force in the future of technology. Aerts expects Senhive to grow further and highlights the international impact of AI companies like ChatGPT. Borré points out the increasing influence of AI in cybersecurity, linking it to geopolitical concerns. "Cybersecurity combined with AI is becoming a major factor, especially considering geopolitical tensions," he observes.
Major Deals and Memorable Moments
2024 was a year of groundbreaking deals. Aerts saw Odoo stand out with impressive numbers, highlighting the strength of Belgian tech companies. "Odoo’s growth shows how strong our local entrepreneurs are and how they can break through internationally," Aerts notes. Borré, meanwhile, reflects on Henchman, a company PMV ultimately did not invest in but still admires. "We passed on Henchman, but their high valuation and impact on the ecosystem are impressive," he explains.
But investing in startups also comes with challenges. Aerts experienced firsthand how difficult it can be to lead companies to a successful exit and views a bankruptcy in his portfolio as a valuable but tough lesson. “A bankruptcy in our portfolio, despite a very promising exit process,” Aerts states. Borré agrees but adds that regrets are not productive.
He believes that “regret is pointless. You did it or you didn’t. The key is to digest failures and move forward."
What Makes a Startup Successful?
Both investors agree that a strong team is more important than a brilliant idea. "A top team with mediocre technology will go further than a mediocre team with top technology," says Aerts. Borré emphasizes leadership as a defining factor: "A great founder inspires their team, makes mistakes, gets back up, and keeps pushing until they reach their goal."
They draw inspiration from iconic entrepreneurs. Aerts praises Fabien Pinckaers, founder of Odoo, for his determination and open communication. "His approach and transparency make him a role model for other entrepreneurs," Aerts comments. Borré takes a broader view, valuing any founder who can build and sustain a motivated team. "Leadership is about inspiration and resilience, not just business acumen," he explains.
The Power of Networking: SuperNova as an Investment Hub
Both investors emphasize the importance of SuperNova as a meeting place for startups and investors. Aerts sees the informal networking opportunities as a key factor in successful collaborations and investments. "SuperNova provides the perfect setting to forge new connections and close deals," Aerts says. Borré views it as an essential platform for strengthening Belgium's global investment reputation. "SuperNova plays a crucial role in putting Belgium on the international investment map," Borré believes.
The Future of Technology and Investments
AI and autonomous vehicles will, according to Aerts and Borré, have a massive impact on various industries in the coming years. Aerts acknowledges that the current macroeconomic climate presents challenges. Borré adds that AI's intersection with cybersecurity and geopolitics will shape many investment decisions. "The world is shifting rapidly, and technology will be at the heart of that transformation," Borré notes.
Despite uncertainties, both investors remain confident in startups with strong teams and innovative products, believing that these are the key to sustainable growth and success in the international market. With their foresight and passion for innovation, Aerts and Borré remain driving forces in the Belgian investment landscape. Whether it’s AI, venture capital, or the future of SuperNova, they continue to spot and seize opportunities in the ever-changing world of technology.