Episode 86: Jan Reichelt - Founding Partner of 10x Founders - Are Former Entrepreneurs Better Investors?

In this episode, we catch up with Jan Reichelt, Founding Partner of 10x Founders. Jan is an entrepreneur at heart who has spent his professional career in tech startups, online businesses, professional information services, and digital media. He started and exited two companies and he has been awarded "European Founder of the Year" by TechCrunch / The Europas. Now he's a Founding Partner of 10x Founders, a network-driven investor backed by over 200 entrepreneurs and angels. Through an exclusive international network of successful entrepreneurs and investors, mainly in Europe and the US, 10x Founders' partners have been the first backer of unicorns such as Adyen, EquipmentShare, Luminar, Palantir, and others. Their past and present startup investments over the last 16 years include 16 unicorns, and they've had more than 40 notable exits and 8 IPOs. This super angel expertise is implemented in the 10x Founders strategy. Their one-of-a-kind network and community of supporters are there to enable founders' success. In this conversation, Jan discusses the nuances of entrepreneurship as a lifestyle choice rather than just a career. He shares insights on selling a company, managing emotions during the highs and lows of startup life, the transition from being a founder to an investor, and his most expensive mistake. Jan emphasizes the importance of storytelling for founders, trusting one's instincts, and investing in unconventional ideas. He also reflects on the challenges of balancing hustle with personal life and shares his past experience as a salsa instructor. The conversation concludes with a discussion on balancing hustle and relaxation, and Jan's ideal dinner party with top entrepreneurs and investors. Takeaways 1.Entrepreneurship is a lifestyle choice that impacts your whole life. 2.Managing emotions is crucial for founders during their journey. 3.Investors should not dictate the direction of a startup; founders must trust their instincts. 4.Storytelling is essential for both fundraising and internal motivation. 5.Red flags in startups are subjective; each opportunity should be evaluated on its own merits. This episode of EU-Startups Podcast is brought to you by Vanta. Compliance doesn’t have to be complicated. In fact, with Vanta it can be super simple. Trusted by over 7,000 companies, Vanta automates the pricey, time-consuming process of prepping for ISO 27001,SOC 2, GDPR, HIPAA, and more. Learn more here: http://vanta.com/eustartups