You forge your own path as you walk

I am quite often asked how I became Director at Faraday Venture Partners and with the following post I’d like to explain. Almost six years have passed since I’ve joined the fascinating world of start-up innovation and I’m confident there’ll be many more to come.

The passion that I feel for this sector and being surrounded by entrepreneurs day-in, day-out has been something that my parents have practically instilled in me since birth. Both are entrepreneurs, albeit in very different sectors, such as odontology and biotechnology. However, it was my parents who ensured that we were all exposed to the effort and dedication required to build something for yourself and they taught us the unquestionable importance of start-ups as the engine of the Spanish economy. This is not primarily because the activity of start-ups contributes to the creation of quality jobs and tax income, and more due to the positive consequences that they bring about in more traditional sectors and in society. For this reason, being connected to this ecosystem was one of my most meaningful objectives when I finished my studies and it made me decide to set out my professional career accordingly.

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My professional trajectory

Following two and a half years of working in KPMG’s M&A department, I wanted to make a career shift to finally combine my two biggest passions: entrepreneurship and finances. Searching among the different companies and fund houses that already combined these two areas, I decided to contact Gonzalo (CEO and founder of Faraday Venture Partners). I had already worked with Gonzalo at KPMG for about a year and we had shared a very good relationship. Gonzalo, after leaving KPMG, had already mentioned that he was planning to set up his own business and had told me that if everything worked out as planned, he’d very much like to work with me again, this time at Faraday and being one of his first analyst hires. His proposition was of great interest to me at the time and I started working for Faraday while still at KPMG. My objective during this year was to continue to acquire solid financial knowledge, while also trying to familiarise myself with the start-up world and its particular investment opportunities. During that year, where I followed the first Faraday investments closely (among them, Habitissimo, Playspace and Bodeboca), I decided to contact Gonzalo again to see whether the timing to join might be right now. Fortunately, the answer this time was positive. Ultimately, there were three aspects that made me decide to accept Gonzalo’s offer:

  • Gonzalo’s professional capabilities, which he aptly demonstrated during his time at KPMG, as well as his professional ambitions,
  • the possibility of making Faraday into the best alternative investment option for start-ups and private investors in Spain and
  • finally, Faraday’s hybrid investment model and investment strategy.

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The way we work

Faraday Venture Partners represents a solid network of investors (i.e. our Partners: who are primarily individuals, small investment funds and family offices). We offer our Partners investment opportunities that are professionally assessed and analysed in depth by our full-time analysts’ team. We also act as the main intermediary between our Partners and the entrepreneurs in the closing of all investment deals, allowing our Partners to invest exclusively in the projects that are of interest to them. Following the acquisition of the start-up company, Faraday gets involved in helping its investee companies scale, generating maximum value for its promotor teams, thanks to our extensive experience, contacts and energy, which comes at no extra cost to the start-up. We then provide all this information as follow-up information to our Partners.

After a few years at Faraday, having lived many happy moments and some more complicated ones and having led several investments representing our Partners in a good number of companies, I now hold the position of Investment Director for Spain. My position as Director of Spain comes as we’re pursuing an ambitious international expansion plan and are looking to bring our business model to new markets.

This new objective implies a continuous search for new investment opportunities and emerging and innovative start-up projects which demonstrate high potential for rapid growth and profitability in early financing rounds, but naturally with the corresponding elevated risks associated. My task now consists in spreading the word about our business model, investment philosophy and strategy among those interested. I also advise both entrepreneurs and our Partners, on ever-more complex financial and operational aspects relating to the investments made, which allows me to continue to grow professionally in my two great passions.

Keeping this in mind, I would like to encourage all start-up CEOs that meet our investment requirements to contact us through our website here. As well as those interested in our service offering for investors, which can be found here. I hope I will be able to continue sharing happy and complicated moments with all of you!

Wishing everyone a happy summer period!

Jaime Biel, MBA

Investment Director, Spain