Jens Lapinski is the Founding Partner & CEO of Angel Invest, Europe’s most active angel fund. Previously, he was a Managing Director at Techstars, where he launched the German fund that invested in 40 companies that have raised €250M+ in funding. Read our interview to check out the valuable advice for angel investors he shared with us and find out what is it about working with startups that particularly attracts him.

1. Hi Jens, thank you for taking the time to speak with us! Can you share a bit about your background and how you got into angel investing?

Absolutely! I started out as a scientist before transitioning into entrepreneurship and then investing. Today, at Angel Invest, we make one investment per week, typically €125K per company. Beyond just funding, we actively coach founders to help them secure significant follow-on investments in their next funding rounds.

My journey into investing began with helping to establish Forward Labs, the UK’s first startup studio. That venture eventually went public and was later acquired by Molten. I moved to Germany in 2014, where Techstars asked me to launch Techstars Germany. Later, I founded JL Angel, which evolved into Angel Invest. Today, we are a team of about 20 people, and we invest into approximately one company every single week.

2. As the Founding Partner & CEO of Angel Invest, Europe’s most active angel fund, can you tell us more about your mission?

At Angel Invest, our mission is simple: to maximize the number of successful startups in Europe. We believe the ecosystem has the capacity for us to invest in up to 250 companies per year, or one per working day, without saturating the market. Our focus is on helping founders execute at the highest level and then supporting them in securing substantial Series A funding. Startups are our passion, and we aim to contribute to their success in a meaningful way.

3. Before Angel Invest, you were a Managing Director at Techstars and launched the German fund, which backed 40 companies that went on to raise over €250M. What excites you most about investing in startups?

For a startup to work, everything has to align. First, they need to avoid failure. A strong team dynamic is critical — if internal conflicts arise, the company can quickly fall apart. Then, they need to understand their customers and build a product that truly meets their needs. If they get these fundamentals right, they stand a chance of surviving.

But survival isn’t enough — startups need to scale. That requires the right market, business model, and timing. When these factors come together, investors will recognize the opportunity and provide the capital needed for growth. Witnessing this journey unfold is incredibly rewarding. When startups win, I do too.

4. Which advice would you share with angel investors who are just starting out?

Three key points:

• Expect no returns for ten years. Many new investors assume they’ll start seeing money come back within a few years, but the reality is that it often takes a decade to realize significant returns. Plan your pace accordingly.
  
• Pace yourself and aim for outliers. If you’re serious about angel investing, think in terms of decades. You might choose to invest in two or three companies per year rather than spending all your capital too quickly. Ultimately, one out of every 20 investments should ideally return 100x your money.
  
• Respect that it’s the founder’s company, not yours. As an investor, you’re there to support and advise, but ultimately, the founders run the business. The best angel investors understand how to provide value without overstepping.
  

5. What do you predict for the ecosystem in Berlin?​ What opportunities and challenges do you see?

Berlin’s startup ecosystem has come a long way. Two decades ago, there was very little, if anything, there. Then, Rocket Internet created the ecosystem from nothing. Fast forward to about 10 to 12 years ago, and we saw the next generation of founders emerge — people who had prior experience and were ready to build something new.

Back in 2012 – 2015, there were only around ten investment firms in Berlin, outside of accelerators. Today, we have dozens. The investor ecosystem is well-established and continues to grow, bringing more capital into Berlin-based startups.

On the startup side, we are seeing an exciting wave of data-driven companies, and Berlin has also become a global hub for crypto startups. The city has matured into a thriving tech ecosystem, and I believe its growth trajectory will continue.

Thank you very much for sharing your insights and story, Jens. We wish you the best of luck in your future endeavors.

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