Albert Fischer was brought in by Netherlands-based power company Nuon to set up its corporate venturing unit, Yellow & Blue, in 2008.
Fischer, managing director of Yellow & Blue, said: “On the basis of Aim-listed Plant Health Care, where I was non-executive chairman [for nine years to 2010], Nuon invited me to start Yellow & Blue in 2008.”
Fischer previously worked as managing partner of venture capital firm Planet Capital between 2004 and 2008 and as managing director of venture firm Pymwymic (Put Your Money Where Your Mouth Is Community) from 1997 to 2002. Before this he was head of development from 1988 to 1997 at Anglo-Dutch publisher Reed Elsevier. Fischer was a physicist by training.
Lessons from the top: Fischer said: “Why do corporate venturing? You can keep money in a bank account, but earning 2% to 3% interest is less attractive than VC returns, which should be higher if you do it well. It is also cheaper than conducting your own research and development. As a venture fund you are getting a complete window on innovation through your dealflow. And in the long run, you can buy the companies that fit your business strategy.
“It is important to balance independence from the corporate and support from the corporate. If you cannot follow the investment cycle of the free market, that is a problem.
“I do not have to find business support from Nuon, which means I can act much faster on opportunities – being able to negotiate purely on the basis of financial return makes it easier to do.
“People in the venture world are different from the corporate world. Penalties for breaking the rules are different. If you play in the VC world, act like a venture capitalist.”