Mathias Åsberg, CEO And Co- Founder Of Nextgrid- Accelerating The Pace Of Innovation By Investing In Artificial Intelligence Startups, Talent And Ecosystem!

Mathias Åsberg is a technology theorist, and a serial entrepreneur turned investor.

He is the Ceo and Co-founder of Nextgrid, an investment company of the 2020s with a focus on supporting early-stage AI companies in scale.

In an exclusive interview with AsiaTechDaily, Mathias says:

The world needs innovation. To support early-stage companies building with the world’s most powerful technology is my motivation.

• Never ever-ever write your own contracts
• Winning is all about being persistent & consistent
• Two hands can only do so much. To succeed, one needs momentum, belief & support from others

Read on to know more about Mathias Åsberg and his journey.

What background and domain expertise do you have?

Mathias Åsberg: I am a serial entrepreneur with a technical background. My main area of domain expertise is in artificial intelligence & customer acquisition.

When did you first think about starting a fund?

Mathias Åsberg: We started to work with Nextgrid in mid-2019. The company was then founded end of 2019.

What kind of startups/ sectors have you invested in till now?

Mathias Åsberg: Nextgrid’s focus is on investing in companies building products on modern AI technologies. We especially focus on subsets deep learning & reinforcement learning. We are vertical and geography agnostic and work with startups innovating in various industries spanning from developer tools to fintech to MedTech.

What types of companies do you look to invest in? And What’s your mental model for investing?

Mathias Åsberg: Currently, our focus is on early-stage companies that have Artificial Intelligence at their core, either as the primary tech behind their product or somehow contributing to the growing AI ecosystem. Strong technical founder and a product that has the potential to become a moonshot. We aim to extend the operations with multiple funds now in 2020.

What is your typical investment range, and how many startups you invest in per year in general? Additionally, overseas headquartered startups get funding from you?

Mathias Åsberg: Nextgrid invests resources & cash into early-stage companies at the range of USD 250k – 1m. We accept applications from all over the world.

What would be the KPI that you usually check about the startups’ growth?

Mathias Åsberg: It may be diverse in each industry like LTV, CAC, MoM, etc. but it will be helpful to understand more about your additional investment factors.

Our due diligence is mainly focused on understanding the technical aspect of the R&D within artificial intelligence the company is planning to do.

How do you handle this COVID-19 outbreak situation for your fund’s survival in the future?

Mathias Åsberg: Even before the pandemic, we designed the program to make it possible for founders to participate mostly remotely. Starting from March this year, we did adapt our program and application process to run 100% online, which in many ways opened the door to projects that would otherwise have no opportunity to relocate and participate in it. So far, our experience is very positive.

Right after being an investor like in the early days, there must be some tough times in building up the first fund along with building up a second fund or giving back the good returns to those LPs. If there is any similar tough time like this, please tell us more about it and how you (or your team) overcome the difficult times?

Mathias Åsberg: It is the lack of plan B. Sheer determination is the single biggest success factor of any project—also, a lot of exercises.

What mistakes do you see founders make when raising money?

Mathias Åsberg: Overcomplicating material & explanations in the first interaction and a lack of focus.

What’s your advice to entrepreneurs who have a chance to meet investors like you? What are the top 3 questions that you always ask the founders?

Mathias Åsberg: We want to know your story of how and why the company was created. We want to see your unstoppable drive and determination to succeed.

What’s your general thought about the term “Global,” and What are the important factors (criteria) for local startups to consider for international expansion?

Mathias Åsberg: Scalability and customer acquisition.

What kind of startup or tech industry will impact the world in the future like 2-3 years locally in your view?

Mathias Åsberg: Companies building product/service on modern artificial intelligence technologies.

How do you keep yourself motivated every day?

Mathias Åsberg: The world needs innovation. To support early-stage companies building with the world’s most powerful technology is my motivation.

What are the top- three life lessons that you want your (future) sons and daughters to know?

Mathias Åsberg:

• Never ever-ever write your own contracts
• Winning is all about being persistent & consistent
• Two hands can only do so much. To succeed, one needs momentum, belief & support from others

What would you like to be remembered for?

Mathias Åsberg: Disrupting the investment industry and making a positive impact on humanity.

You can follow Mathias Åsberg here.

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