Veteran Economist Lennart Ohlsson Announces Third Book in Conceptual Trilogy on Lead Investment Strategies
"My goal is to provide readers, particularly those with ambitions of becoming high-caliber lead investors, with a framework that blends logic and intuition into a single, operational investment philosophy," Ohlsson states.
In this new volume, Ohlsson refines and expands upon themes he introduced in his earlier books. Best Practice Venture Capital (2006) has provided foundational principles and tools for structuring investment strategy. Meanwhile, Träffsäkra Investeringar i Startups (Accuracy in Startup Investments), published in 2018, has become an accessible, step-by-step guide to selecting, analyzing, and financing early-stage ventures. His latest effort goes deeper, offering practices tailored to complex, high-tech startups or what he calls "SciTechs."
Structured into methodical chapters, the book outlines a comprehensive, interlinked methodology for due diligence that maintains internal consistency across all compartments. From market analysis to technological viability, it ensures that the narrative of a startup aligns logically across its various components.
Building on his belief that successful investing isn't a purely logical exercise, Ohlsson references the dual-system thinking model made popular by Nobel laureate Daniel Kahneman. He explains that effective lead investors must learn to integrate both systems of the brain: the intuitive, emotion-driven decision-making that many angel investors rely on, and the deliberate, analytical reasoning typically employed by economists. Ohlsson introduces his interpretation of "expert intuition." It's a concept derived from decades of experience, where structured knowledge enables an investor's instincts to be more reliable, even in uncertain, rapidly evolving contexts.
The book also includes a case study on Polar Light Technologies (PLT), a Swedish deep-tech startup that Ohlsson supported as a senior business advisor. It traces a multi-year journey from initial pitch to significant technological milestones, including a breakthrough in micro-LED development. PLT serves as a model for the book's overarching thesis: that Sweden's investment culture lacks sufficiently structured lead investors capable of navigating high-risk, high-reward SciTech ventures.
"Many U.S. accelerators emphasize speed and milestone-driven progression. Sweden's early-stage ecosystem often favors a risk-averse strategy of narrowing focus too early. It's a low-hanging fruit approach that can ripple long-term potential in complex startups with multiple market pathways," Ohlsson says.
The PLT case unfolds across a period of intense collaboration. A five-person leadership group, comprising the founder, a business developer, a recruited CEO, and Ohlsson himself, operated as an informal accelerator team. Weekly strategy sessions were used to make fast and informed decisions while the formal board maintained oversight.
What made PLT particularly challenging and instructive was its dual-core technology, each with large market implications. Navigating product development, market timing, and investor negotiations required a balance between flexibility and strategic focus. For example, it took nearly a year to diagnose and resolve a proof-of-concept failure tied to a reactor design flaw, illustrating how lead investors must also be willing to operate at a granular technical level when needed.
Throughout the book, Ohlsson anchors his insights in both theory and practice, referencing his formal economic training and over 40 years of hands-on experience guiding startup investment. His background as a founder of multiple angel-based venture funds, including the Sustainable Energy Angels and the Stoaf Group, informs the design of the strategic frameworks he presents. Rather than merely offering anecdotes, Ohlsson emphasizes how parts of an investment process interrelate, and how that relationship affects outcomes.
Ohlsson's third book, slated for release next year, promises to be a culmination of decades of theory, practice, and reflection. It's an essential resource for those ready to shape the future of deep-tech investment in Sweden and beyond. Meanwhile, in line with his educational philosophy, Ohlsson has also leveraged LinkedIn as an integrated platform for early thought development. Many of the core ideas, tools, and even drafts of chapters appeared first as posts or articles, providing ongoing engagement with readers and professional peers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
DW
2 days ago
- DW
What next for US, China after talks end with no trade deal? – DW – 07/30/2025
Although no trade agreement has been reached, the US and China did agree to continue working towards extending the 90-day tariff truce, which is due to expire on August 12. Will the two rival superpowers strike a deal? The latest round of trade talks between the United States and China in Stockholm ended on July 29, with no deal in place. The 90-day truce announced in May after talks in Geneva paused an escalating trade war between the world's two largest economies, who had threatened to impose tariffs of over 100% on each other. After the Geneva meetings, US tariffs on Chinese goods were reduced from 145% to 30%, while China's retaliatory tariffs dropped from 125% to 10%. While the two rival powers have signaled that they are open to extending the negotiations beyond the August 12 deadline and avoid tariffs surging to pre-Geneva levels, key differences remain unresolved after the talks in the Swedish capital. This latest round of negotiations "showed no material difference from the previous two" and still reflected "a case of waiting things out in hopes of a shift," Claus Soong, an analyst at the Mercator Institute for China Studies (MERICS) in Berlin, told DW. Whether the pause will be extended now depends on US President Donald Trump, who is expected to decide after a full briefing. Treasury Secretary Scott Bessent, who led the US delegation in Stockholm, called the meetings "constructive," but he stressed that "nothing is agreed until we speak with President Trump." US officials warned that failure to reach a deal could see tariffs on Chinese goods surge back to triple-digit levels. China confirmed efforts to prolong the 90-day pause on most reciprocal tariffs. The US-China trade dispute as well as the US leader's trade policies with most of his country's partners has caused global uncertainty and impacted economic growth. And while the International Monetary Fund (IMF) said the recent easing of some tariffs has helped raise its global growth forecast to 3%, it warned that higher tariffs would create more uncertainty that could lead to slower economic activity. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Dr. Patricia M. Kim, a fellow at the Brookings Institution's John L. Thornton China Center, told DW that recent weeks have seen both sides look to moderate their rhetoric, "signaling a mutual interest in creating the conditions for a leader-level meeting." While no agreement was announced, both sides seem to have "achieved their immediate objective from this meeting — to extend the trade truce, buying time to work toward a broader deal that Presidents Trump and Xi [Jinping] could endorse when they meet later this year," she added. There have been reports that the two leaders could meet on the sidelines of the Asia-Pacific Economic Cooperation summit in South Korea being held from October 30 to November 1. Trump this week denied that he was "seeking a summit," although did not rule out traveling to China to meet with Xi Jinping. The US delegation went into the talks in Stockholm just days after Trump secured a deal with the EU, which many in the bloc say favors the US. The US has also recently signed deals with Japan, the United Kingdom, Vietnam, Indonesia, and the Philippines, giving the trade delegation in Stockholm a boost as it renewed talks with China. But after a string of wins, Washington is finding out that striking a favorable deal with China might not be so easy. A core element of the standoff revolves around China's dominance over rare earth materials and US restrictions on AI chip exports. At trade talks in London in June, export controls were formally included in trade discussions, an unprecedented move that blurred the lines between trade and national security. After London, both countries signaled a potential easing of restrictions on rare earth and semiconductor exports. According to MERICS expert Soong, China has the upper hand in this area, as the "chip card" is less effective than rare earths. "China can leverage its control over the global market for rare earth materials and magnets," he said, which are crucial for the world's car, semiconductor and aerospace industries. "Rare earth control is the real pain point," Soong added. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video In February Trump imposed a 20% tariff, claiming China had failed to curb fentanyl precursor exports. While most of the Geneva-era tariffs were later scaled down, the 20% fentanyl-related tariffs remain in place. In what was widely seen as a gesture of goodwill and a bid to de-escalate trade tensions, in late June Beijing added two fentanyl precursors to its list of controlled substances. While that move raised hopes that the related duties might be lifted, Soong cautioned that "the fentanyl-related tariffs appear to serve primarily as a pretext." "Given that their removal would lower the overall tariff rate to just 10% — potentially below the levels applied to Japan and the EU — such a move seems improbable," he said. Soong added that even if the 20% fentanyl tariff is scrapped, "equivalent measures would likely be reintroduced under a different justification." To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video In an interview with Fox Business ahead of the Stockholm talks, Bessent pointed out that China accounts for 30% of global manufacturing exports. "It should not get any larger," Bessent said, adding that China's "is an unsustainable, historically the most imbalanced economy, thus a shift towards a domestic consumption-centered economy is necessary." Dr. Kim said that given Beijing's own recognition of those economic imbalances, US concerns about Chinese overcapacity or the need for consumer-driven growth may be manageable. She highlighted how some of their interests are aligned — namely Chinese purchases of non-strategic US goods, Chinese investment in non-sensitive US sectors, and cooperation on fentanyl. But when the negotiations go beyond trade and enter "the strategic realm, they will get more challenging," Kim said. "It's hard to imagine Beijing agreeing to side with the US against its strategic partners," she said, referring to the Trump administration pressing China on their purchases of Russian and Iranian oil. China, Dr Kim explained, will "certainly have demands" of their own, including pushing the Trump administration to adopt their preferred language and stance on Taiwan, and to commit to exempt export restrictions on high-tech goods. "Such issues that cut against the core strategic interests of both sides will prove more difficult to resolve," Kim said.
Int'l Business Times
3 days ago
- Int'l Business Times
US Second Quarter GDP Growth To Reflect Tariff Turbulence
US economic growth is expected to rebound in the second quarter, analysts said, in a momentary comeback reflecting trade shifts as companies tried to avoid the harshest of President Donald Trump's wide-ranging tariffs. The world's biggest economy is anticipated to expand at an annual rate of 2.5 percent in the April to June period, according to a consensus forecast by This marks a reversal of a 0.5 percent decline, annualized, seen in the first three months of the year. But cost pressures from tariffs, among other factors, could later bog down investment and consumption -- a key driver of the US economy. "It's very much distorted by the trade flows and inventory," said Nationwide chief economist Kathy Bostjancic, referring to second quarter growth. At the start of the year, businesses rushed to stock up on products in an effort to avoid Trump's threatened tariff hikes -- but this build-up is now unwinding. The imports surge ahead of tariff hikes in the first quarter led to the largest drag on GDP growth from net exports on record, analysts at Goldman Sachs said in a recent note. This means a bounce back is expected once imports cool. But the acceleration is not sustainable, Bostjancic told AFP. Trump had raised the idea of across-the-board tariffs targeting trading partners during election campaigning last year, and since returning to the US presidency in January he has rolled out wave after wave of fresh duties. These included a 10 percent levy on almost all US partners, higher duties on steel, aluminum and auto imports, as well as separate actions against Canada and Mexico over illegal immigration and illicit fentanyl flows. In April, the Trump administration separately took aim at the world's number two economy, China, as Beijing pushed back on US tariffs. Both countries ended up imposing tit-for-tat tariffs on each other's products, reaching triple-digit levels and bringing many trade flows to a halt before Washington and Beijing reached a temporary agreement to lower duties. After two days of talks in the Swedish capital of Stockholm this week, negotiators from both countries signaled there could be an extension of the truce -- although the final call depends on Trump. Bostjancic expects that underlying activity driving US gross domestic product will be moderating, although not collapsing. "The US economy continues to navigate a complex set of crosscurrents, obscuring a clear reading of its underlying momentum," said EY chief economist Gregory Daco in a note. But he added that one trend is evident, which is that "economic activity is decelerating even as inflationary pressures are reemerging." "Tariff-induced cost pressures, persistent policy uncertainty, severely curtailed immigration, and elevated interest rates are collectively dampening employment, business investment and household consumption," Daco said. Analysts are closely eyeing the impact of Trump's tariffs on inflation, with economists warning that the duties could fuel price increases. They expect to learn more from data in the summer months. All of this could impact consumer spending -- a key economic driver. "The trend in GDP growth is best analyzed by considering the first and second quarters together," said Samuel Tombs, chief US economist at Pantheon Macroeconomics. "The likely average growth rate of about 1.5 percent over these two quarters represents a clear deceleration from the 3 percent rates in the previous two years," he added. He said in a note that the US economy would probably "lose more momentum" in the third quarter, when consumer prices for imported goods likely will rise sharply. And "adverse consequences" of economic policy uncertainty will also start to materialize when it comes to business investment, Tombs said. Analysts have noted that companies tend to hold off major decisions during times of uncertainty, given the risk of sudden policy shifts. "We continue to expect GDP growth to average just 1 percent in the second half of this year," Tombs said.
Int'l Business Times
3 days ago
- Int'l Business Times
US Says Trump Has 'Final Call' On China Trade Truce
China and the United States agreed Tuesday to hold further talks on extending their tariff truce, but a top US trade official stressed that President Donald Trump would make any "final call." The world's top two economies met for a second day of negotiations in Stockholm, with both sides seeking to avert tariffs from returning to sky-high levels that had ground trade between the rivals to an effective standstill. The meeting in a Swedish government building, led on the Chinese side by Vice Premier He Lifeng and Treasury Secretary Scott Bessent for the Americans, ended without a resolution but with the US side voicing optimism. Neither government has made public any details from the talks, which started on Monday, although US Trade Representative Jamieson Greer said Trump would have the "final call" on any extension in the truce. "Nothing has been agreed until we speak with President Trump," added Bessent, calling the tone of the talks "very constructive". The negotiations are taking place in the wake of a trade deal struck over the weekend that set US tariffs on most European Union imports at 15 percent, but none on American goods going to the EU. The truce between China and the United States has temporarily set fresh US duties on Chinese goods at 30 percent, while Chinese levies on trade in the other direction stand at 10 percent. That accord, reached in Geneva in May, brought down triple-digit tariffs each side had levelled at the other after a trade war sparked by Trump spiralled into a tit-for-tat bilateral escalation. The 90-day truce is meant to end on August 12. But there are indications both delegations want to use the Stockholm talks to push the date back further. The South China Morning Post, citing sources on both sides, reported on Sunday that Washington and Beijing are expected to extend their tariff pause by a further 90 days. Trump said he would be briefed again by Bessent on Wednesday. "We'll either approve it or not," he told reporters aboard Air Force One as he returned from Scotland. Separately, Trump has threatened to hit dozens of other countries with stiffer tariffs from Friday this week unless they reach trade deals with Washington. Among them are Brazil and India, with the South American giant facing a threat of 50 percent tariffs. Asked about Friday's deadline, Bessent told CNBC: "It's not the end of the world if these snapback tariffs are on for anywhere from a few days to a few weeks, as long as the countries are moving forward and trying to negotiate in good faith." Trump has already announced deal outlines with five countries -- Britain, Vietnam, Japan, Indonesia and the Philippines -- as well as the one with the 27-nation EU. Beijing says it wants to see "reciprocity" in its trade with the United States. Foreign ministry spokesman Guo Jiakun said dialogue was needed "to reduce misunderstandings". The previous round of China-US talks was held in London. Analysts said many of the trade deals Trump has been publicising were leaning more on optics than on details. Stephen Innes, managing partner at SPI Asset Management, a firm that advises on currency exchange and commodities, said an extension of the 90-day truce between China and the United States could reinforce that view. "That truce could set the stage for a Trump - (President) Xi (Jinping) handshake later this year -- another risk-on carrot for markets to chew," he said.
