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Stefan Tirtey

Fintech/payments investor with 20+ years backing pioneering startups globally, including unicorns Marqeta, Mambu, and etoro.

Stefan Tirtey is a seasoned venture capital investor with over 20 years of experience, primarily focusing on early-stage investments in the fintech sector. He currently serves as a Board Observer and Investor at Volt.io since July 2022, where he contributes his expertise in financial technology innovations.

Professional Background

  • Managing Partner at CommerzVentures (October 2014 - Present): Tirtey leads investments in fintech and insurtech across Europe, Israel, North America, and Africa, specializing in Series A, B, and C funding rounds.
  • Board Observer at Mambu (January 2016 - Present): He has been involved with Mambu, a cloud banking platform that enables rapid product launches for innovative banking providers.
  • Investor at MFS Africa (August 2021 - Present): His role includes supporting the growth of this leading digital payments hub across Africa.
  • Investor/Board Observer at eToro (April 2015 - Present): Tirtey is part of the team at eToro, a prominent social investment network.

Tirtey’s extensive background in venture capital and technology positions him as a key player in driving innovation within the fintech landscape. His contributions to various companies showcase his commitment to fostering growth and transformation in the financial services industry.

Highlights

May 31 · linkedin

🎉 We’re Celebrating 10 Years of CommerzVentures! 🎉

Time flies when you have fun! It is hard to believe that we are celebrating CommerzVentures' 10 year anniversary already! We are hosting a special celebration on June 4th in Amsterdam during Money20/20.

We look forward to seeing you all there, to celebrate this milestone, reminisce about the past and look into the future together.

​RSVP soon (link below) to ensure we have a spot reserved for you. We look forward to raising a toast to the last decade and to many more years of success together 🥂.

Dec 4 · linkedin

🧠 Unveiling the Illusion: Pattern Recognition Bias in VC Decisions

In the world of venture capital, the quality of our decision-making can be the difference between success and failure. Yet, even the most seasoned investors aren't immune to the subtle sway of human biases. Recognizing this, we at CommerzVentures have embarked on a journey to sharpen our analytical edge, initiating a series of workshops to confront and conquer these biases head-on. I'm pleased to present the first in a sequence of posts, beginning with an exploration of the pitfalls of "pattern matching." Keep an eye out for forthcoming contributions from my colleagues, as we delve deeper into the cognitive traps that challenge the investment landscape.

Many VCs talk about "pattern matching" when deciding which companies to back. However, relying on pattern analysis can be a double-edged sword. While it aids in recognizing potential, it can also lead us into the trap of Pattern Recognition Bias. Here's why this is important:

  • Cognitive Heuristics: We often rely on mental shortcuts to make quick decisions, but this can lead us to see patterns that align with our existing beliefs rather than reality.
  • Confirmation Bias: We have a tendency to interpret new information in ways that confirm our pre-existing beliefs, potentially overlooking contradictory data.
  • Overemphasis on Anecdotal Evidence: By focusing too heavily on specific examples, we risk perceiving patterns that don't hold up when considering the broader picture.

This bias can manifest in various ways, such as Founder Background Bias, where we might assume that only founders from certain schools or companies are destined for success, or Industry Trend Bias, where we generalize about entire sectors based on a few data points.

Why should investors be concerned?

  • It can lead to suboptimal decision-making, not supported by comprehensive evidence.
  • It can reinforce stereotypes, leading to biased behavior and potentially unethical outcomes.
  • It can cause us to miss out on opportunities by focusing on perceived patterns rather than the full spectrum of information.

To mitigate these risks at CommerzVentures, we:

  • Implement structured decision-making processes.
  • Encourage diverse perspectives within our teams.
  • Prioritize data-driven analysis over anecdotal evidence.
  • Promote continuous learning and reflection.
  • Seek external input and collaboration.
  • Consider the ethical implications of our decisions.

By acknowledging and addressing Pattern Recognition Bias, we can make more informed and equitable investment decisions.

📈 #biasfreeVC @CommerzVentures

🔗 Stay tuned for more posts in this series over the coming days.

🤔 What are your strategies for overcoming cognitive biases in your decision-making process? Share your insights below or reach out to continue the conversation.

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Stefan Tirtey
Stefan Tirtey, photo 1
Stefan Tirtey, photo 2
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Location

Greater Munich Metropolitan Area