Wise’s Taavet Hinrikus and Teleport’s Sten Tamkivi partner in new investment firm — just don’t call it a VC fund – TechCrunch

Taavet Hinrikus, Skype’s first employee and co-founder of fintech giant Wise (Prior transfer), Working closely with Teleport co-founder and current Topia CPO Stan Tamkiwi to create a new investment vehicle.

Both are already experienced investors – Hinrichs is one of Europe’s bona fide super angels More than 100 investments in his name – and has already done several tickets simultaneously. The investment activities of the couple as a new yet anonymous venture will be formally seen as an equal partnership and will be supported by a team of six people based in Estonia, including an investment analyst.

Just don’t call it a VC fund.

“I’m still not setting up a fund, but partnering to help do the same more on the investment side,” Hinrichs told me in a text message last week.

For the past few years – perhaps hinted at by swapping the role of Wise’s CEO for Chairpersons – there has been speculation within London’s fast-growing venture capital scene that he could raise a fund of his own or be a partner. As an A-list VC can join the firm. The savvy founder actually spent nearly a year as a venture partner at Mosaic Ventures, which expired last summer and went unlicensed.

“When you say fund, it means other people’s money and a specific mandate (ie seed or delayed investment, in biotech or fintech, promising to return the money in a set amount of time, etc.),” ​​Henricus Said in an email earlier in the week. He also explained that the new firm would not demand outside of LP and would be “evergreen”, enabling it to place bets of much longer duration than many VC funds. Instead, Hynricus and Tamkivi are happy to invest for 10–20 years.

In the email, Tamkivi said, “This structure is both liberating and differentiating, because without a strict external mandate we can go after campaigns that we feel passionate about and really be patient for how long we are in our companies.” Stay involved. “

“[We] The one underlining Hinrikus would not be the one to insist on selling the founder. “We will always be on the founder’s side because we are in that position ourselves.”

The pair’s joint portfolio is mostly focused on Europe, but even further, including the US, Japan and Singapore. Mutual investment (or shareholding) includes Wise, Bolt, Verif, LHV, Xolo, Oyster HR, Pactum, Starship, Curb, Sunrise and Acapella.

Hinrichs and Tamkivi have jointly contributed to several “mission-driven” non-profit efforts such as the Zahvi School of Technology, the Good Deed Education Fund or the Wababu Museum of Freedom and Occupations, which they and the new firm’s back office support Will stay. More recently, Hinrikus co-founded Credentials, Which is constructing the rail for home health testing.

Hinrikus and Tamkivi say their new investment firm will return tech companies with a seed investment of € 250,000 to € 1 million, but also have the freedom to comply with the IPO right. In most instances, it does not expect to lead the round, but may be seen as more collaborative than a competitor.

“In short, we’ll be doing the same more: founder-support more upcoming founders,” Hinrichs said. “The thing that gets us most excited is the future of the future and finding positive missions to improve our future. So far this is the future of work, the future of finance, but in the future we would like to think more about the future of health and climate ”.

“It will take a slightly more conscious effort to explore our research and strategy for completely new areas,” says Tamkivi. “As human beings, we both care about longevity, health, education, democracy – if we find ways to move these huge problem places with capital, we are very eager to learn”.

The pair is set to take place in crypto tokens, real assets or any alternative financial instruments.

Tamkivi said, “At a higher level you can think of Daffy as a natural extension of our broader ‘financial expansion of future money’.” “When it comes to technical execution, we have benefited not only from the freedom of established companies to invest in equity, but to take token status, use on-chain yield strategies or work with specialized venture funds Do it Whatever helps our founders ”.

To that end, the new investment fund is breaking cover with very little fanfare – and, as noted, it is yet to be named. “Have you talked to Tat and Stan yet?” Should work fine for now, “quipped Hinrichs, in his own style of humor I’ve grown accustomed to over the years.

“More seriously, we’re just starting together,” clarified Tamkivi. “[We’re] We still have to find out what kind of structures, processes, new talent and other things, such as additional branding, will require us to mass-produce activities as personal angels from our lives to the present day ”.