Start-ups shouldn't be pushed to profitability too early, investor says
Pushing companies to profitability too early isn't the answer, but having a coherent story and a coherent path to profitability is the answer."From our perspective, rationality and reasonableness of expectation is actually positive," Larsen said. He added that a slight reset in how investors scope out investments would probably be helpful to those trying to put their money in real, transformative technologies.
Asked about expectations Ping An has of its portfolio companies, Larsen said that they don't have to show profitability in the short term. Instead, those start-ups should have a sustainable path toward long-term profitability. "Pushing companies to profitability too early isn't the answer, but having a coherent story and a coherent path to profitability is the answer," Larsen added. In Ping An's case, the fund looks at both the financial case presented by prospective investments as well as the strategic case — in terms of how well the technology and business scopes align with Ping An's own research and developments.
Larsen explained that if the right opportunity presents itself, the Global Voyager Fund may shell out amounts north of $100 million, but the scrutiny into the company would be a lot more stringent.
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