Q&A with Jeppe Høier, partner, Maersk Growth
1. First, just give us a quick overview of who you work for, what you do, and how long you have been doing it.
I have been an investment partner with Maersk Growth, the corporate venture capital (CVC) arm of [Denmark-headquartered shipping firm] AP Moller-Maersk since the beginning of 2018. I have been working in venture capital since 2008.
2. What attracted you to CVC?
The ability to leverage the best from the VC industry with the best of a corporate. There were early indicators of an amazing setup when I was introduced to Maersk Growth in late 2017 and the possibility to leverage my VC skills within a corporate is quite unique.
3. What have been your greatest successes at your unit?
Our investment in digital logistics service Forto is a great example of the value that we create together with our investments. For example, Forto was the first company to integrate the Maersk Spot product that secures a direct booking of a container on one of our ships for the benefit of both Maersk and Forto. Forto has significantly increased its valuation since we invested in 2018.
4. What have been your biggest challenges?
Explaining what is important when you invest in a startup that is so different from the normal approach in a big corporate. And also aligning expectations when investing in early-stage ventures.
5. What is your main professional ambition for the future?
Keep doing what we are currently doing which we are really good at. This should be to the benefit of Maersk as well as the startup ecosystem.
6. What do you think all CVCs could do better to make it a stronger industry?
Startup investing is a long-term strategic choice. Making sure that there is earmarked capital available for follow-up investing and doing that in an LP-GP setup.
7. What are some of your corporate parent’s technology needs and corporate strategy amid the pandemic, as well as your CVC unit’s pain points?
It is very apparent that a resilient supply chain is needed at the same time as you have full visibility within. Maersk has done tremendous during the pandemic and the future will be even brighter as we invest in and develop more technology within the supply chain.
8. And, finally, for colour, what did you do prior to CVC or in your spare time?
I have been in the VC industry prior to going into CVC. For a decade, I was the chief financial officer for Copenhagen-based Sunstone Capital investing in both life sciences and technology companies. With five children, I have quite an active home life!
