Few teenagers who want to start their own business would move to China to launch a startup, but that is what Kipras Daujotas, investor at Aramco Ventures, did. His interest in climate tech came later, during a brief stint at ByFounders, an early-stage venture firm in Copenhagen.
After a while, he realised that much of financial VC’s interest in climate tech was focused more on returns, conducive to technologies such as software. A more strategic and patient approach, therefore, seemed like a better platform for transformative tech, leading him into the CVC world.
Aramco Ventures’ remit covers just about all stages, but Daujotas particularly enjoys working with the earlier-stage startups – having the early-stage background means he has empathy for founders. “Because I founded startups in the past and worked at an early-stage fund, I understand what founders are going through and I connect with them at a deeper level,” he says.
Coming from an entrepreneurial background, one realises how precious every single dollar is. You have to act as if it was your own money.
The main difference between his time atByFounders and CVC is the presence of the corporate as an additional layer to be navigated. The process of getting those stakeholders on board, however, naturally de-risks the investment.
According to Daujotas, young professionals should not do what they usually do by restricting their role to a particular box, limited by their job description. They should instead seek to expand their remit, taking on more responsibility and new challenges and being as present as possible along the entire process.
Even in a fund as vast as Aramco Ventures, the former founder warns against ever being cavalier with capital just because it is not coming out of your own pocket. “Some people say: ‘oh well, it is not my money, it is the company’s money – if we lose it, then it is not a big deal’. Coming from an entrepreneurial background, one realises how precious every single dollar is. You have to act as if it was your own money.”
See the full list of GCV Rising Stars for 2024 here.