This interview captures a well-rounded picture of an angel investor who balances a passion for high-risk startup investments with a calm, methodical approach. Olga Luštšik, an EstBAN member since 2022 emphasizes the importance of learning, networking, and always staying curious about the next possible big thing.
How did you become an angel investor?
I’ve been involved in investing for over 20 years, starting with stocks and funds. I have also worked on the stock exchange for some time investing into stocks and bonds in the beginning, but moved toward riskier assets, the derivatives. Later on, as a derivatives dealer at Hansabank (predecessor of current Swedbank), I traded oil and metal derivatives on global exchanges. Then I worked at Admiral Markets, a derivatives trading platform, and naturally got pulled into the world of high risk investments. Angel investing, which is even riskier than derivatives, came into the picture through Funderbeam. In 2020, I got involved in selecting the winner for the Tartu Startup Day pitch-competition, thanks to Ivo Remmelg, and that’s how Jeff App appeared onto my radar. After they raised funds a second time, I invested again – and that’s when I decided to become a member of EstBAN too.
What’s your investment philosophy?
The general advice is to allocate 5-10% of your portfolio to high-risk investments, but I’ve invested more. I know it’s not ideal, but when I see an exciting opportunity, I find it hard to resist. Currently, I’m trying to be more cautious.
Have you experienced both success and failure?
I’ve written off one of my investments on Funderbeam. I’ve tried to invest in a variety of things – stocks, bonds, derivatives, but I found the constant buying and selling very stressful. I was checking prices every hour, and it was emotionally draining. With startups it’s different – once the money is invested, you just have to wait and hope for the best. I’m happy that I’m doing something for the future, but it forces me to stay calm and not get overly anxious.
How do you manage your investments?
It’s much easier to manage these kinds of investments when you have a business entity. When I was just a salaried employee, I didn’t think about making these types of investments. Once I started working as a consultant and set up my own business, I began investing more freely.
Is investing something you talk about outside of work?
For me, investing is purely a hobby – it’s not my main job. I spend my free time attending EstBAN events and staying up-to-date with the latest news. My day job is helping grow the Estonian economy by advising companies on digitalization.
Other than that, I like gardening and picking mushrooms, and spend time in my summer cottages. I also love visual arts, contemporary dance, modern ballet, and performance art. My kid is already 17, so there’s not much to do any more, but a 10-year old dog keeps me busy too.
What value does EstBAN provide you?
I see belonging to EstBAN as an investment in education, networking, and new business or career opportunities. Sure, I could spend that €300 on clothes or shoes, but when I think about the value I get from EstBAN – education, events, new contacts – it’s clearly an investment.
Which startups of your investment portfolio are you rooting for right now?
I’m cheering for Complok! I know the founders personally and believe in their persistence.
How can you help fellow EstBAN’ers?
I’ve spent over 15 years in product development and have been the Chief Product Officer in several startups, so I know how agile product development should work. If anyone asks for advice, I’m happy to provide it.
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- If you want you can contact Olga via LinkedIn
- Enjoy reading our 1st Investor Talk with Grete Pariis
- Want to lear about angel investing – join the Mature Angels programme
