LA Venture Podcast


Carl Fritjofsson — Creandum

May 31, 2023

Series A

Carl Fritjofsson is a Partner at Creandum, one of Europe's leading VC firms. 

In this episode Carl shares:

- Why nearly every software category can be reimagined with a Generative AI-first approach 

- Why Q4 2023 and Q1 2024 could be "pretty bloody" and a "moment of truth" for startups

- Creandum's approach to winning competitive Series A deals

- Why VC poses career risk for associates early in their careers

Full transcript

Carl Fritjofsson is with me today in Venice. Carl is a Partner at Creandum, where he has been for seven years, but only more recently in LA. Creandum is known as one of Europe's best VC funds with investments in Spotify, Klarna, Bolt, Trade Republic, and many others. Carl was a founder before venture and we go back quite a ways when I was just starting Shift.

Carl. You moved to LA and you saw a big opportunity for a Series A fund?

Well, I should give a brief history of Creandum, which is, we've been around for about 20 years. Started in Sweden of all random places in the world. No one did venture in Scandinavia / Nordics at the time, and we then had the good fortune to be one of the local players that came into some of the biggest companies that were created there. So, you mentioned Spotify and Klarna, two of the most prominent ones. And then slowly but surely, we've kind of expanded our footprint out into the world.

And though our core bread and butter is early-stage Seed and Series A investing in Europe, we've actually been present in the US for the last 10 years. And initially we set up shop in the US to basically help our European portfolio companies expand into the US and raise capital in the US. And at that point of time for European startups to raise money from the top growth investors in Silicon Valley, generally speaking, you had to kind of be there, you had to move there.