Erik Paisley had a busy 2022 as director of advanced materials manufacturer 3M’s strategic investment arm, 3M Ventures, closing 10 deals in a year that also saw the unit record three exits. The role requires him to constantly be looking at both the startup and the corporate side.
“We think in terms of mutual value creation, win-wins,” Paisley says. “So, a lot of my role and our team’s role in CVC is being that bridge between the companies. Your actions should reflect that, and you should certainly try to be responsive. That’s a given, and on the time frame startups work in, which is quick.”
3M initially brought Paisley onboard over a decade ago as a business development intern, and he worked his way through business development and product manager roles before moving over to investment director at 3M Ventures in 2015. He was promoted to director in 2021.
“My background is in investments, business development and project management, so CVC was really an interesting opportunity to utilise that”
“My background is in investments, business development and project management, so CVC was really an interesting opportunity to utilise that background,” he says.
“I was interested in CVC as an opportunity to invest in interesting and exciting startups, disruptive technologies and new business models. And then within CVC, be able to partner with those companies to build new businesses.”
Paisley liaises with some 34 portfolio companies and is always looking to add value, be it through introductions to investors and corporate VCs, offering access to resources or subject matter experts from within 3M or helping to forge commercial partnerships between the corporate and its startups.
“I’m very proud to be part of a team that established a new strategy for ventures at 3M back in 2015 when I joined,” Paisley says. “I’m happy to see we’re generating value financially and strategically for our portfolio companies and for 3M. We’re certainly working hard continuing to build on that.”
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