Fika with Future Planet Capital VC Alex Shadbolt: “Be humble when you've dropped something”

You’ve been at Future Planet Capital for nearly three years – what keeps you there?

"We describe ourselves as “a startup investing in startups” and I think we've kept that mentality even as we've grown. We're managing almost half a billion pounds of assets under management, and we've got to that stage by sticking with our impact thesis, focussing on data-driven sourcing and impact-led investing. That has yielded strong portfolio performance, but also creates a really cohesive narrative that limited partners can get behind."

And congratulations are in order, because you recently got a promotion to Investment Manager and Impact Lead, having previously been an associate. What’s new in your role?

"There’s more responsibility and autonomy in the investment decision-making capacity and portfolio monitoring – it’s a more active involvement in the company lifecycle and on the investment committee. So you’re more firmly in the driving seat."

You’re on several juries for selecting new talent in the impact scene too. Tell us about that?

"I think it's a really important role of a VC to be embedded in an ecosystem and not work in a silo. When you see talent coming through, that gives you ideas and motivation."

What does a typical Friday look like for you?

"Working from home, which is a really nice option to have and allows me to get a run in, in the morning, which is a real treat. A lot of people like to use time at home for deep focus work, but weirdly I actually prefer to take meetings, and set things up for the next week."

Why is that?

"If you have meetings in the office you can be jumping between different rooms, or pulled into other work. At home I have really meaningful first calls or follow-up diligence calls."

Tell me about a recent win for you or one of your portfolio companies?

"Regent Craft – who are making all-electric sea gliders to try and decarbonise short haul coastal transport – just broke ground on their 255,000 square foot production facility in Rhode Island, and signed a big joint venture in the middle east."

What’s been the most unexpected lesson from working in investment?

"You have to be really firm with your ability to say no. There are finite amounts of capital and endless amazing solutions to really massive problems, from mission-driven founders. But not all of those are VC-backable."

When did you last mess up at work?

"I think inboxes are really tough to keep on top of. You need to put time aside to go through things that you flagged or missed that you've been meaning to get back to. I think it is important to be humble when you've dropped something, and always make the effort to pick it back up."

What are you reading, watching or listening to at the moment?

"Last weekend I listened to the audiobook of The Mom Test by Rob Fitzpatrick. It is a really neat book on how to get to know your customer and how to effectively sell to a customer. It was recommended to me by a colleague. In terms of good TV, The Last of Us has kept me very entertained recently."

What’s your favourite fika?

"It depends what time of day it is. In the morning, it would definitely be a flat white. And then in the afternoon if I'm trying to “decaffeinate”, it would be a rooibos tea. For a snack, I've been into malt loaf recently, with a load of butter slathered on top."