Longtrepreneur continues to bring the best-in-class tech and business leaders to get their take on long-term thinking in the world of Commerce, Technology and Entrepreneurship.
This week’s “Take the L” series guest is a personality who needs no introduction: Fridtjof Berge – Co-Founder and Chief Business Officer – Antler.
Here is the conversation in an interview format between Yawar Abbas(Longtrepreneur) and Fridtjof Berge(Antler).
As the Co-Founder and Chief Business Officer at Antler, the day zero investor, Fridtjof works with a team dedicated to enabling and investing in the world’s most exceptional people building the defining companies of tomorrow. Antler operates out of more than 20 major startup ecosystems across six continents, including Toronto, Austin, New York, London, Stockholm, Berlin, Bangalore, Singapore, and Sydney.
Since its launch in 2018, Antler has helped build and invested in more than 1000 companies in over 30 industries, including AI, Web3, robotics, fintech, proptech and healthtech.
Fridtjof was previously in McKinsey & Company, where he focused his work on the retail, consumer goods, and financial services industries across Northern and Central Europe. He has previously been part of scaling startups and e-commerce companies in the Nordic region and across Southeast Asia.
Fridtjof is a Norwegian based out of Singapore. He is a Forbes 30 Under 30 honouree in Finance & Venture Capital, and he obtained his MBA from Harvard Business School. In 2023 he was appointed a Young Global Leader by the World Economic Forum.
Yawar Abbas: What is your morning routine?
Fridtjof Berge: As I am a frequent traveler it changes based on where in the world I am. However I typically try to get my workout in during the morning and set aside some time to work in peace and quiet before meetings. While I don’t always succeed at it, I’m trying to spend the first part of the morning without looking at my phone or other electronic devices. Given how much they consume the rest of the day, delaying this ‘connected-stage’ of the day has had a nice, calming effect on my mornings.
Yawar Abbas: Amongst your parents, who had more sway over you growing up?
Fridtjof Berge: I think this one is difficult to answer – I’ve been fortunate that my parents have always been very united, and I’ve never really felt that one of them had more sway over me than the other.
Yawar Abbas: Why did you pick the name Antler?
Fridtjof Berge: The word Antler was a good fit for what we were trying to build, as it symbolizes rapid growth and renewal. Antlers are the fastest growing tissue in any mammal, and many animals shed their antlers for new ones to grow out. At Antler, we help build and invest in fast growth companies, and we do this systematically through our residencies where new companies are formed, grow and evolve.
Yawar Abbas: What skills did you hone at McKinsey which led you to found Antler?
Fridtjof Berge: We wanted to make a big positive impact, inspired by other entrepreneurs, including McKinsey alumni. Similarly to many McKinsey alumni who have gone on to build impactful organizations, I have pulled on a range of useful skills that you learn on the job – problem solving and communication being some of them, as well as experience with having addressed organizational, strategic and operational challenges in different types of client organizations. Perhaps more importantly, McKinsey’s alumni network of great people – that we have reconnected with as team members, investors and entrepreneurs – has been helpful in founding and scaling a large, decentralized organization.
Yawar Abbas: Why did you select Naman Budhdeo as Partner Antler (Canada)?
Fridtjof Berge: Naman is a great example of a successful entrepreneur with a strong passion for helping others and he is someone who wants to make a difference. This is the mindset we look for when looking for leaders to join our organization. He has an impressive background as a seasoned entrepreneur in the travel tech industry, known for founding Flight Network and TripStack; he achieved remarkable growth and both companies were acquired in 2019.
Beyond his business ventures, Naman is passionate about supporting underserved founders: He’s been an active member of the global leadership community Young Presidents’ Organization (YPO) for nine years and has received several awards, including being recognized in Canada’s Top 40 under 40.
Yawar Abbas: When did you catch the entrepreneurial bug?
Fridtjof Berge: Growing up in Norway, a country renowned for its commitment to equality, I am connected to the spirit of creating opportunities for everyone. My time at Harvard Business School further fueled this, encouraging me to think big while remaining rooted in the values of my upbringing.
Antler crystalizes these interests: What sets us apart from traditional venture capital firms is our approach to dive in earlier than nearly any other investor. We pioneered what we call “day zero investing.” This means we get involved before a company even exists, lowering the barrier for talented people to found and scale startups. We bring together aspiring entrepreneurs in our offices globally, collaborating closely with them for about three months. During this period, our focus is on helping them shape their business models and form robust co-founder teams. It’s a hands-on, proactive strategy that sets the stage for success right from the beginning.
Yawar Abbas: What is your favorite cuisine?
Fridtjof Berge: Greek cuisine.
Yawar Abbas: What do you miss most about your time at McKinsey?
Fridtjof Berge: The connectivity and ability to get advice, support and ideas from peers around the world was something incredible at McKinsey. I learned a lot from this way of creating network effects across skills and we have built a global network in a connected fashion. This approach not only saves us from making the same mistake twice, it also ensures that we are always learning and improving. It’s all about tapping into the collective knowledge and avoiding reinventing the wheel.
Yawar Abbas: What do you mean by “uncomfortably ambitious?”
Fridtjof Berge: When we started, we publicly declared our plan to invest in 500 companies within the first five years – a seriously ambitious goal. We had to hire, onboard, and support leaders globally to create a great founder experience. We not only achieved it, but we doubled it: We have now made more than 1,000 investments in five years.
It is amazing and proves that setting big targets can drive rapid progress. Setting uncomfortably high targets keeps us motivated, hungry, and pushes us to achieve what we once thought impossible.
Yawar Abbas: Which top 3 founder traits do you look for when investing in founders at Antler?
Fridtjof Berge:
- Grit – is the person driven and will she stop at nothing to achieve her goals?
- A clear spike – does the founder do something better than 99.9% of people? E.g. is this person an amazing salesperson or an expert within her field?
- Leadership skills – can this person attract and lead a successful team?
When we invest, the team dynamics between the co-founders is also tremendously important. Some people can be great together and thrive – other matchups can set great individuals up for failure if the chemistry is not right.
Yawar Abbas: What do you want your legacy to be?
Fridtjof Berge: Having contributed – on a global scale – to the creation of companies that solve important problems. By systematically taking away the typical constraints – lack of access to capital, co-founders and support networks – and helping great people make the most of their ideas.
Yawar Abbas: Which three people would you want to nominate for the “Take the L” interview series with me on Longtrepreneur?
Fridtjof Berge:
- Manuel Schönfeld, founder of PowerX
- Carolina Strobel – Antler Partner based in Sao Paulo
- Bahadir Ozdemir – co-founder of Airalo
