Welcome to HERMESA's member of the month, Eda Leka!
Q: Tell us about your background and expertise:
I have a cross functional background in consumer and retail, initially building operations and brands in traditional brick and mortar settings and later in consumer tech with Amazon and HelloFresh which I joined after finishing my MBA at MIT Sloan School of Management and was part of the scale up journey for 7 years in various leadership roles.
I have made 13 angel investments to date and angel investing led me towards consulting and venture partner roles with VC funds & accelerator programs (Carbon13, Pact, Techstars), leveraging my operational expertise to support early stage start-ups.
Q: What brought you to angel investing and HERMESA?
Having seen the struggles of a startup journey first hand, I know how much support is valued in the early days and wanted to provide that to founders.
I read a book called “Angel” written by Jason Calacanis. It gave me a practical framework on how to go about angel investing. My network led me to an MIT Angels event where I met the first company I invested in - an AI powered precision agriculture company called Deep Planet - alongside HERmesa investors.
Q: Any key highlights or learnings on your angel investing journey?
I have learned a lot about how to assess early stage deals. I have my frameworks but one key learning is that the founder’s personality and their degree of determination are a big success driver. So I always look for signs of that determination in their past journey and my interactions with them.
Another learning is that as an angel, you can’t do it on your own unless it’s a full time job. The time commitment to review enough deals before investing in one (I would say a ratio 10:1 at least) is huge and that’s where angel syndicates can add tremendous value with deal sharing and due diligence.
Q: Can you tell us about your investment thesis and some of the companies you have invested in?
Coming from the consumer industry, I value tech that can disrupt markets and impact consumer behavior with an accessibility, improvement and inclusion theme. Two examples of portcos with these themes I invested in via Hermesa are Flexa and Code First Girls. I am also looking to increase my portfolio share in climate tech further (a space where I am currently consulting).
Business wise, I prefer B2B software because of scalability and good margins and revenue generating deals, just enough to give me a sense that the company has found product - market fit.
Q: What would you say to others who are thinking about becoming angel investors?
Get involved! Contrary to popular belief, you can engage with very small tickets and it’s a space where you can really make a difference.
It is a game of numbers so make sure you review 10 -15 times more deals than you invest in which is easier to do through angel syndicates.
Be selective, stick to your investment thesis and diversify, diversify, diversify.
AI Expert, CEO of 01.AI, Chairman/CEO of 创新工场 (Sinovation Ventures), Author of 'AI Superpowers', 'AI 2041'
2wCongratuations, Ping!