On episode 45 I talk with Andrew Steele of Activant Capital. Activant is a global investment firm that partners with high-growth companies that transform commerce.
I wanted to bring in a growth investor to bring a different perspective to founders that tune into the show. While our core focus is early-stage companies and investing, I wanted to examine the next phase in the growth curve.
It was fascinating to hear about the evolution of Activant, they started out as a $75mn growth fund writing a handful of checks in the $15mn range. They have since transformed to have 4 funds with more than $2.1bn in assets under management.
Andrew and I talked through how Activant evaluates and invests in companies, why they focus on infrastructure themes, why investing is more than just writing a sizable check, how their investment thesis has evolved since fund one, valuations, what’s next in fintech, and much, much, more.
So without further ado, I present Andrew Steele of Activant Capital. I hope you all enjoy the show and be prepared to learn:
- Andrew’s journey to Activant Capital
- Activant’s investment thesis
- Activant’s evolution since being founded in 2015
- The value add that comes alongside the check
- Why infrastructure is a focus for the fund
- Where valuations stand today
- How they counsel companies on good press and bad press
- What he is most excited about in fintech
- How he stays focused on their thesis as fintech moves at breakneck speed
- Why in-person meetings cannot be replicated by Zoom
- Why it’s better to read than not read
- Favorite book: 1984 by George Orwell
- Last book read: Say Nothing by Patrick Radden Keefe
- And much more…
Download a PDF transcription of No. 45 Andrew Steele
