Nancy Fechnay is a Partner at Flight Ventures where she runs the UK syndicate. Nancy moved to London from Silicon Valley in 2014, having spent time with the likes of Kleiner Perkins and GE Ventures. She is also the Interim Director at Techstars London as well as an advisor to several select UK- and US-based startups, and has a soft spot for wearables and other digital hardware plays, but invests across all sectors.
In this episode of Angel Insights, Nancy talks about thinking big and discusses the main differences between the startup scene in the UK and the US.
‘As a culture, Europeans tend to be more risk averse,’ says Nancy. ‘I also think it’s the result of the investors. Some investors here are risk averse. They might come from high banking or private equity, where they’re used to having KPIs and numbers to base a decision off, and therefore when they don’t have those things they don’t want to make the investment or encourage founders to take smaller steps in order to build a business.
‘I’ve worked with a lot of entrepreneurs in recent months – I’m advising seed-stage companies now – and a lot of them, when I say “dream bigger, think bigger, how are we gonna make this a global company?”, they say, “well this is what I wanted to do but all my past advisers and mentors told me I’m thinking too big.” I just don’t have that same point of view.’