EUVC

EUVC | E371 | Oxx's Mikael Johnsson on how to make a company stand out in a competitive market

Nov 5, 2024

In this lively discussion, Mikael Johnsson, Founding General Partner of Oxx, shares insights from his 24-year journey in venture capital. He emphasizes the importance of intellectual curiosity and a focus on product-market fit in successful investments. Mikael discusses Oxx's unique approach to backing growth-stage B2B SaaS companies and the challenges faced in a competitive landscape. He also critiques traditional investment philosophies and highlights the need for collaborative investor relationships, making this a must-listen for aspiring entrepreneurs.

53:46

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Episode guests

Mikael Johnsson

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Episode notes

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Quick takeaways

Mikael Johnsson emphasizes that intellectual curiosity is vital for venture capitalists to successfully navigate and predict industry shifts.

Positioning and understanding customer needs are essential for startups to achieve sustainable growth and prevent revenue stagnation in the competitive B2B SaaS market.

Deep dives

The Focus on B2B SaaS Investing

The firm Ox, guided by Michael Johnson, concentrates on investing in B2B SaaS companies across Europe, demonstrating a clear commitment to navigating this niche. The second fund, with a substantial $190 million backing, emphasizes investments primarily between Series A and Series B. This strategy allows Ox to identify and support companies that have already established some traction and are poised for significant growth. By backing businesses at this stage, Ox aims to accelerate their development and drive meaningful returns.

Intro

3min

Navigating the Venture Capital Journey

14min

Navigating the Investment Landscape

22min

Celebrating Partnerships in a Competitive Landscape

2min

Building Success in Venture Capital

9min

The Pitfalls of Pattern Recognition in Venture Capital

2min

Navigating Venture Capital: The Power of Counterintuitive Thinking

3min

In this episode of the EUVC podcast, Andreas discusses with Mikael Johnsson, co-founder and General Partner of Oxx.

Andreas and Mikael discuss the key strategies and insights that have shaped Oxx as a leading player in the European B2B SaaS investment landscape. Mikael shares his extensive 24-year journey in venture capital, highlighting the evolution of his investment philosophy and the experiences that have driven Oxx’s unique approach to backing scale-up stage companies.

Oxx’s second fund, totaling $190M, underscores the firm’s commitment to supporting B2B SaaS innovators across Europe and Israel. With a team of six in Stockholm and nine in London, Oxx maintains a pan-European reach, enabling it to stay closely connected to the pulse of regional tech ecosystems. The firm’s notable investments, including Funnel, Gravitee, and SOCRadar, exemplify Oxx’s focus on high-potential SaaS businesses with the ambition and capability to scale internationally.

Go to eu.vc for our core learnings and the full video interview 👀

Chapters:

02:35 Meet Michael Johnson of Oxx
03:04 Michael's Journey into Venture Capital
04:35 The Intellectual Curiosity of Venture Capital
05:20 Building and Growing Companies
06:11 Challenges and Stubbornness in Venture
07:31 Pivotal Moments and Lessons Learned
09:47 Oxx's Investment Strategy
13:49 The Importance of Product-Market Fit
19:07 The State of Early Stage and Growth Stage VC in Europe
26:00 Challenges in Scaling Venture Firms
26:44 Optimism in European Venture Ecosystem 2
7:30 Importance of Positioning for Startups
28:43 Building a Scalable Company
29:49 Common Mistakes by Founders
30:59 Evaluating Companies for Investment
32:11 The Role of Hustle and Strategy
36:29 Issues in the Venture Capital Industry
49:12 Final Thoughts and Learnings:

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