In the present modern world, many thought leaders and innovators have contributed to the development of technologies that have made our daily lives easier and more connected. They are leading the way in a time when technology is more than simply a tool—it is a force that shapes our collective future.
Michael Tandrup, a visionary leader and pioneer, stands tall among these luminaries, leaving an indelible mark on the IT landscape. With 30+ years in tech and IT, Michael has been part of multiple start-ups, turnarounds, mergers, acquisitions, and exits that have expanded the possibilities of what technology can achieve.
Michael commenced his career in the Danish Navy and Danish Air Force and built a solid technical background. While thriving on his career path, Michael decided to move into the corporate world and establish his own company. However, in 2003, he sold his business and became a business angel, which eventually laid to the role as co-founder of Nordic Eye Venture & Growth Capital
Recently, Michael sat down for an exclusive virtual meeting with CXO Inc. Magazine, where he walked us through various aspects of his venture that drove his innovative streak. The following are highlighted excerpts of the conversation with him, with deep insights and valuable wisdom.
Coining of the Idea
The idea behind establishing the Nordic Eye Venture & Growth Capital started after Michael Tandrup established himself as a strong business angel for more than a decade.
In his words, “I realized that I was ready to take it to the next level. One of my old friends approached me with the idea that instead of being a business angel, I could be cofounder of our own fund. Being a business angel means you are kind of alone. Therefore, it was easy for me to make that choice. When an investment as a business angel is not operating the way, you would like it to, you are utilizing your own money and often find yourself in the CEO position with more money at your disposal. In Nordic Eye, we work for 35 different companies all together as a team. We can’t put our full attention on just one. So that was kind of, you could say, a natural next step. And it was also a career move for me.”
The Key Ingredients that Make Nordic Eye a “Blue Diamond of the Investment Landscape.”
Nordic Eys’ key differentiating element is its entrepreneurial culture. We have a different approach to our investments and the way we work with the Founders of our portfolio companies. Many investment managers in our industry are primarily working through Excel sheets. We spend much time interacting with the Founders. Understand their motivation, values, and visions. “I hear this all the time from the Founders and the management teams: “I like your questions. “I’ve never been asked that before”,” It’s obvious that you guys have a great understanding of the fundamentals of starting a business from scratch, being an entrepreneur, and all the issues that arise along the way”. That’s one of the main differences, in my opinion. Nordic Eye has a team of highly skilled experts who are nice, intelligent, and easy to work with. Both covering strong financial- and entrepreneurial backgrounds” shared Michael.
Fostering a Culture with Personal and Professional Growth Opportunities
Michael believes the first step is to gradually increase employee responsibilities and let them know you are there to support them if they encounter problems. Instead of taking charge and stepping in when problems arise, leaders should work to help their team members complete their tasks. If you can stay on course and assist them in finishing the task instead of taking over the task, they will automatically grow.
Battling the Challenges Along the Way
The major hurdles have been raising money and finding the very good cases. Partnerships are a key driver here. Both to be connected to the right people and to have other people recommend you. To investors and into potential investment opportunities. Another challenge along the way is to convince other share- and stakeholders of the benefits working with us, and to convince others of the benefits of having Nordic Eye Venture & Growth Capital as a part of their enterprise.
A Perfect Balance of Growth: Professional and Personal
Michael decided many years ago when he was looking for tasks to replenish and deplete his energy. He concentrates hard on the things that fuel him so that he can run for as long as possible.
Hence, the inspirational leader seeks out those who are unlike him. Because the right individuals will enjoy these duties and believe they are providing them with energy, they adore all the tasks that deplete Michael’s energy. It all comes down to understanding who you are and what fuels you and then trying to stay on course by focusing on the things that primarily provide you with energy. And since you’ll be like a fish in the water, you won’t ever have a conflict between your personal and professional lives.
Creating an Impact
“The philosophy of the water stream has made the biggest impact,” Michael asserts. The team gains a lot of strength and motivation from Michael’s ability to trust others, give them the freedom to take on responsibility, let them try things on their own, and let them feel as though they are doing the tasks themselves with Michael acting as a coach and a backup plan in case, they need it.
Further, if the hard conversations happen with people early, then they are not so hard. People will feel that you are giving them good advice instead of blaming them
Feathers in the Cap
Michael and his team have had a wonderful journey so far. They have achieved numerous goals in a short time frame. After seven months, they got their first exit, which earned the investors six times over, and the current total assets are on the way to performing quite well.
“We have a great organization where everybody is working together and for each other.
They are jumping in, and they like the culture and the working environment. And if people are happy, investors are happy, or investment cases are happy, then what more could we ask for?”
Futuristic Goals
Since trust is the key word, Michael strives to establish trust. Additionally, he finds it important appealing to other funds to be included in the exceptional situations, and they ensure that their approach to handling the cases will help them develop and succeed more, creating an upward trend that will only get stronger over time.
A Piece of Advice Shared by the Visionary
Be honest with yourself and your ideas, and believe in your actions. Also, when things get tough, this is when winners keep going. Even in difficult situations, be truthful to yourself. I have seen a lot of entrepreneurs going for the money; they are not the ones making the biggest values. The ones making the biggest values are the people who go for the mission, for the idea, for the course, and for their passion. And not the least be trustful and keep your promises. Both as an individual and as an important influencer of the brand promises of the company you are a part of.