Fika with LGBTQ+ venture partner Sam Eshrati: ‘I was expecting people to be more open-minded’

How is it going so far at Identity.vc?

Great! I actually started being onboarded at Identity.vc in November, but it officially came out just last week that I was going to be a new Venture Partner. Since then I’ve been honored to receive a lot of “inbounds” from a lot of interesting people - people that want to engage in strategy work, mission work and also investment work. It’s not a paid job, but an important role. Profit might be generated in future when we close a fund, but more than anything, it's a mission I wanted to be part of. Diversity is a win-win and contributes to both social impact and financial returns.

When did you first connect with identity.vc?

Part of my work at TechBBQ – one of the largest tech startup events – has been introducing the LGBTQI+ agenda, and diversity has been one of our strongholds. I came across Identity.vc through my work last year and found out they needed to do a lot of branding and community work. They realised that because of the knowledge I have within this space, and good access to startups – and because of the voices we are both echoing – I might be a good match to join their mission.

The Nordics have a global reputation for inclusion and for celebrating LGBTQI+ rights. How accurate is that?

I think things are moving in the right direction in Europe, in terms of awareness of the benefits of diversity. People know statistics show that if you have diversity in your team, you tend to have more productivity and better returning investments. But, some major challenges remain the same.

Tell me more about those challenges...

Well, I'm part of the community myself – as well as someone with a Middle Eastern ethnic background – and I moved to Denmark from London around eight years ago with a lot of optimism. But I feel the diversity agenda in this region is often about “ticking boxes”. I was expecting people to be more open-minded and to come across more people open to discussing sexuality and the LGBTQI+ agenda. I also have only come across a handful of openly gay or LGBTQI+ founders, which is shocking because there are a lot more out there, but they are not sharing that information.

Why do you think this is?

I think it is partly due to the “law of Jante” which is a Nordic tradition that you should not do anything that makes you stand out from the crowd. You keep your personal identity, personal information to yourself - you don't share it out loud. My personal belief is that some founders also want to keep their sexuality to themselves, because maybe the scalability of their projects and products could be jeopardised in the future if they move into other markets. For example some Middle Eastern countries are not as open-minded as in Europe.

So should LGBTQI+ founders be encouraged to be more open? Perhaps some people don’t want their sexuality to become part of their ‘personal brand’?

I understand that if you’re a founder you want to focus on showcasing your talent and your product. You shouldn't use your sexuality in order to help your company thrive. And maybe you want “what happens behind closed doors” to stay like that. But on the other hand I think more founders could approach conversations in a neutral way. If sexuality comes up in a conversation in Europe, you shouldn’t deny your choices.

How do you feel about what's happening in the US right now, with major tech companies ditching diversity, equity and inclusion targets? What impact could that have in Europe?

I think it is too early to say. But historically places like Silicon Valley and New York are diverse, and I think diverse US tech talent will have the opportunity to thrive regardless of the political environment. In the States I think there is a more hierarchical system where people are hired based on people’s merits and their CVs, whereas in the Nordics it can be a lot more about accessing smaller networks.

You’re continuing your day job at TechBBQ. Can you give us any hints about what you’re planning for this year’s main event in August?

We believe this will be a breakthrough year. We're moving to Bella Center Copenhagen - one of the largest event venues in Europe, which is very exciting, but of course, stressful. We are doubling down on our efforts to ensure founders remain the core focus - so they are engaged, can be part of the agenda, part of our competitions and so on. We will stay focussed on Europe but open up a bit more towards the global ecosystem - so stay tuned.

Finally, what is your favourite fika? I’m guessing a Danish pastry?!

Yes! I have a couple of favourite places in Copenhagen including one called Andersen & Maillard near the harbour. They have very innovative pastries and it’s always just a delight to have a bite! To drink? I am an oat latte person!