At Auxxo, Carla Schell is responsible for the topic of "Platform." As an employee from the very beginning, she not only builds the fund, but also drives topics such as brand, network, and value-add for the fund's portfolio companies. She enjoys initiating new ventures herself, is committed to digital education and personal development, and even initiated a coding school to enable unemployed and socially disadvantaged individuals to participate in digitalization. She also founded her own startup, "Amelia," which serves as a development program and network to enable young professionals to pursue self-determined professional and personal careers.
Auxxo has already invested in several Munich-based startups, such as Anybill, Einwert, Fides, Filu and Ubimaster.
Founding with purpose
Munich Startup: What motivated you to work with startups in the investment sector?
Carla Schell, Auxxo: Since the beginning of my career, the “why” of my work and the ImpactThe impact I can have on others and society is paramount. For years, I've been concerned about the low proportion of female founders in Germany and the fact that only a fraction of venture capital goes to them. The 'Auxxo Female Catalyst Fund' is the first venture capital fund in Germany to specifically address this issue and invests exclusively in teams with at least one woman on the founding team. With the first fund, we've now made 30 investments in outstanding women.
In our work with the portfolio, we have a strong focus on leadership and founder wellbeing, which allows us to act as an "impact multiplier" to influence the type of companies our capital builds. Numerous studies have also shown that women start companies with purpose and build more sustainable and diverse companies—a win-win situation.
Munich Startup: Which technology or industry do you personally find particularly interesting at the moment?
Carla Schell: The future of work, especially combined with the potential of current AI developments, fascinates me. The way we have worked over the past decades is no longer up to date and will not advance Germany as a business location in the future. AI offers the opportunity to increase productivity, reduce working hours, and place each individual where they can add the greatest possible value. The key to this lies in bringing everyone along on this technological journey and rethinking education. Questions like "How can we successfully reskill and upskill employees? How do we place greater emphasis in education on unique human skills such as creativity, emotional intelligence, or storytelling?" occupy my mind. Furthermore, the "how" we work will increasingly come to the fore.
Diverse teams lead to higher returns
Munich Startup: In your opinion, what advantages do diverse founding or VC teams bring?
Carla Schell: Numerous studies have shown that diverse teams lead to higher returns. Different opinions and experiences help make more informed and balanced decisions, and different perspectives lead to greater innovation. Gender is only one aspect of diversity.
In the VC context, diverse teams are essential for finding the best deals and making investment decisions. Unfortunately, the scene has historically been dominated by men, with one-sided backgrounds and the same networks. However, most deals come through personal networks. Furthermore, the similarity bias leads to a preference for teams that are similar to one's own (gender, professional background, etc.).
Therefore, the diversity of startups must be reflected in the investor landscape. Fortunately, a lot is happening in this direction right now. Particularly noteworthy here are the 300-member female angel network "Evangelistas" and the newly founded angel arm of "2Hearts."
Pitch tip: Show your vision and provide facts
Munich Startup: What are your three favorite work tools?
Carla Schell: I largely structure my personal and work life using the note-taking tool Notion. I'd be lost without my Google Calendar. For creative balance, I love to explore the design tool Figma.
Munich Startup: Your top tip on pitching?
Carla Schell: Develop a story that showcases your big vision while also providing facts about why you're the one who can implement it. And: the first pitch usually doesn't work. It's best to practice with friends, your network, or investors who aren't high on your priority list.
Munich Startup: Does this seem like a good time to start a business? Why?
Carla Schell: Historically, the best companies have emerged in times of crisis. Thanks to new technologies, it's never been easier to validate ideas so quickly and affordably. So yes, it's definitely a good time to take the plunge into entrepreneurship!
Munich Startup: In your opinion, what could be improved at Munich as a startup location?
Carla Schell: “Never before has it been so easy, so quickly and cheaply to validate ideas”
Carla Schell: I moved from Berlin to Munich about a year ago. I particularly noticed that there are great networks in Munich, but they tend to be rather exclusive and rarely meet up. With the exception of the Munich Startup Festival, I missed Berlin's "welcome culture." For this reason, among other things, I started the regular "Women in Tech" breakfast "Croissants & Connect." Here, we bring together women of different generations and professional backgrounds. I realized that Munich is actually very open to this kind of thing!
Munich Startup: Which investor would you like to meet in person? And what would you ask them?
Carla Schell: I don't have any particular role models among investors or founders. Working in venture capital, I meet countless fascinating people every week. And I quickly realized that I can gain a great deal of learning and inspiration from every encounter. I'm particularly interested in what drives the person I'm talking to—both professionally and personally.
