VIE Tech Capital

Wendy van Ierschot is an HR strategist, entrepreneur, HR tech investor and recognized voice on leadership and growth. She is the founder of VIE People, host of the podcast De Werkprofessor and a frequent radio guest in the Netherlands, known for her sharp views on work, entrepreneurship and scaling companies. As the creator of the adaptive HR model for scaling companies, she helps ambitious organizations build the people, structure and leadership needed for real growth. Wendy brings strategy, energy and substance to every stage she steps on.

Investing in the Known Drives Better Outcomes

My entrepreneurial journey has made me much more focused as an investor. My first investment was in a sector I did not know well. That taught me a simple lesson: do not invest where you have no real edge and in a sector where you have no clue.

Since then, I have chosen to invest much closer to my own field: people & culture. That is where I know the market, the real challenges and the buying behavior. My ambition there is to help make the field more analytical, more evidence-based and less driven by gut feeling.

Evaluating Companies against a Changing Investment Backdrop

When I evaluate startups and leadership teams, I look for three things.

• First, real innovation. Not a small feature dressed up as disruption.

• Second, a strong team. Ideas matter, but teams win.

• Third, the product has to be a need-to-have, not a nice-to-have.

In HR tech, especially, there is a flood of “helpful” tools that no one truly needs.

That said, I am personally drawn to deep innovation, so I sometimes choose opportunities that are risky but genuinely interesting from a technology perspective.

“Every growth phase demands something different. That is exactly why founders need to know early what they are truly great at, and when someone else may be better suited to lead the next stage.”

Current trends are reshaping the investment landscape fast. AI has thrown the whole software market into motion. The big question now is: do SaaS companies still have durable value, or will companies increasingly build their own custom solutions?

At the same time, geopolitical shifts and changing US foreign policy are pushing Europe to think harder about independence, resilience and owning more of its own technology stack. That absolutely influences how I look at opportunities.

Navigating Scaling Challenges

Founders face predictable scaling challenges, but they still walk straight into them. I wrote a book about this, Scale Ups & Downs, because the same traps keep coming back.

Every growth phase demands something different. Once you grow beyond roughly 35 people, for example, you need more structure. Many founders hate that part. They love building, not systemizing. That is exactly why founders need to know early what they are truly great at, and when someone else may be better suited to lead the next stage.

I also believe many investors are too obsessed with focusing too early. In the beginning, founders should shoot a bit with scattershot. You are looking for product-market fit. Once you see which ball starts rolling fastest, then you focus hard. And then you do not keep changing direction every three months because results are not coming fast enough. Knowing when to stay the course and when to pivot is one of the hardest leadership calls in scaling.

Talent is another blind spot. Too many founders hire for the job they need today. They should hire for the company they want to become. In the early years, at least 60 percent of your hires should be people who can grow at least two roles beyond the one you hire them for.

Gaining the Edge as Founders and Investors

My advice for founders? Do not start alone. Find co-founders. Only build if your product solves a real, painful problem. Be brutally honest about whether you truly understand that problem. And if you cannot handle uncertainty, do not become an entrepreneur.

For new investors, my advice is to join an experienced group. Go slow. In your first two years, do no more than two investments. Most beginners do five in one year and only discover later that all five looked better on paper than they did in real life.