After a €100 Million Exit: How Anna Alex Masters the Balance Between Investor and Entrepreneur

About this episode

Anna Alex is one of Germany's most prominent serial entrepreneurs. After successful exits with Outfittery and Planetly, she has embarked on a new path: As Founding Angel at Nala Earth, she combines operational work with a strategic investment role. In conversation, she explains how this setup works and why nature conservation is the next big business case.

Secondaries: The Underestimated Game Changer for Founders

A central topic for Anna is the strategic use of secondaries. "Founders should consider secondaries early on to minimize risk and think big long-term," she explains. These partial exits allow founders to sell part of their shares without completely leaving the company.

The advantage is clear: Founders can create financial security while remaining motivated to build sustainable companies. Instead of putting everything on one card, secondaries create room for long-term decisions and reduce pressure for quick exits.

The Founding Angel Model: Operational Without Management Responsibility

At Nala Earth, Anna has chosen an innovative setup: As Founding Angel, she remains operationally active without taking on management responsibility. This model offers several advantages for both sides.

For founders, it means: You can efficiently build innovative companies while maintaining freedom for family and other projects. For investors, it's attractive because experienced entrepreneurs contribute their operational know-how without being bound long-term.

"It's about the balance between working time and equity stakes," says Anna. "You don't always have to work 100% full-time to make a valuable contribution."

Nala Earth: Why 50% of Global GDP Depends on Nature

With Nala Earth, Anna focuses on an often overlooked risk: companies' dependence on intact nature. In fact, 50% of global GDP depends on functioning ecosystems.

"Companies take massive risks when they ignore their dependencies on resources like water, pollinators, and soil," Anna warns. Nala Earth supports companies in recognizing and managing these dependencies.

This is not only morally right but also makes economic sense. Sustainability and nature conservation are no longer nice-to-have topics but belong in companies' finance departments.

Lessons Learned: Planetly and the Importance of Culture

Anna's experiences with the Planetly exit offer valuable learnings for other founders. "A clear company culture and strong team cohesion are crucial – even beyond a company's existence," she emphasizes.

In acquisitions, integration is particularly important. Cultural differences can significantly complicate a takeover. "It was difficult to see when Planetly was shut down," Anna admits. "But these experiences are valuable for future projects."

The Challenge of Mergers: Alignment Between Founders and Investors

A critical point is the often different interests of founders and investors during exits. While investors primarily focus on financial returns, founders often have emotional bonds to their companies and teams.

"The interests are not always perfectly aligned," Anna acknowledges. "That's why it's important to have these conversations early and openly."

Sustainability as the Business Case of the Future

For Anna, it's clear: Nature conservation and climate protection are not just ethical imperatives but the big business cases of the future. Companies that develop sustainable strategies today will profit long-term.

"We need to stop seeing sustainability as a cost factor," she argues. "It's an investment in the company's future viability."

Anna's path shows: There are various ways to remain active as an entrepreneur. The Founding Angel model could be an attractive alternative for many experienced founders – operationally active but with more flexibility than in the classic founder-CEO role.