Nathan Ben Kemoun
"The Matrix is a system, Neo. That system is our enemy, same goes for VC: it's a complex ecosystem, where fallacies are our enemies"
My Backstory
Where were you born?
I grew up in Essen, the industrial heart of Germany, where people are known for being hard workers, straight shooters, down to earth, and easy to grab a beer with. My parents taught me the value of dreaming big and working hard. My mother founded a successful biomedical startup in the 1990s, growing it for 15 years before selling to a large firm. She taught me about perseverance, breaking through barriers, and doing simple things better than overconfident incumbents. My father started as a car mechanic before founding his own dealership in the 1970s. He saw success come and go with industry changes, but his amazing relationship skills allowed him to relate to anyone.
Starting at age 8, my parents had me help out on a small farm, which helped me appreciate physical labor. In my teens, I worked admin roles at my mom's startup, learning efficiency and attention to detail. At 16, I took a monotonous job besides high school at a bank’s account statement printing department that taught me patience - which is valuable as an early-stage investor. I studied energy management and finance, doing my undergrad in Germany before a Master's at Purdue and Tsinghua.
After university, I started in corporate finance and M&A, focusing on renewable energy deals. I then joined a large utility amid industry transformation during and after Fukushima. My role changed to business development in batteries, grid storage, and distributed energy. I also supported early tech investments at the intersection of energy and power retail tech. Later, I helped a global engineering firm leverage its vast hardware expertise to partner with early-stage hard tech founders - right before embarking on my own journey as a founder (unsuccessfully).
What is your name?
Nathan Ben Kemoun (my last name means 'son of cumin' in Arabic).
Where were you born, where were you raised?
I entered this world in Epinal, a cozy town in eastern France. But I wasn't one to stay put! At 2, I traded bratwurst for bouillabaisse near Marseille. Then, at 6, I made my grand entrance to the Parisian suburbs, where I grew up until I was ready to spread my wings. From east to south to the capital – I've had a taste of France's greatest hits!
What is the area you are from famous for?
Epinal's claim to fame? A pillow factory nearby. Rumor has it that's the source of my sleep addiction. The area is also part of a mountain range just above the Alps – a paradise for forest lovers.
What did/do your parents do?
My dad's been with Nestlé for 34 years, which both fascinates me and would be unthinkable for me. My mom started as a GP, then pivoted to launch her own business in parental communication. She runs workshops and gives talks. It was my first brush with entrepreneurship, though it took me a while to realize what an inspiration she is.
Any siblings when you grew up?
I've got two big brothers, 6 and 10 years older. The younger one is a finance bro in private equity. The eldest one is a sales bro pushing telecom at Orange. Both live in Paris's 11th arrondissement – basically hipster central.
What are the two things (outside of school) that you spent the most time on when you were a kid or teenager?
Seeing friends and sneaking into my brother's room to watch movies on his computer.
What are you missing from your younger years?
Not having any responsibilities, not having to worry about anything.
Did you have a side job during school?
I tutored math and physics a lot – loved teaching and the pedagogical aspect that comes with it (also, the pay was good). I also did a brief stint as an Uber Eats driver for a month and worked a summer at a bank counter. Not all glamorous, but definitely educational.
What did you study, and where?
I studied engineering in Toulouse, then specialized in energy at Palaiseau (think Parisian countryside). Fascinated by startups and less keen on traditional engineering, I added a master's in entrepreneurship in Paris.
Summarize your work after university and before Foundamental.
I tried to launch a music school project in New York with a pianist. In the end, I stopped: getting a visa to work was too restrictive, and I didn't feel I was making enough of a contribution to the team. But the first school opens in 2025 :)
What is your story of getting into Foundamental?
I stumbled upon one of Patric's memes on LinkedIn. Next thing I knew, I was sold on both the fund and his personality. Sometimes, memes do change lives.
I Am On The Lookout For
What makes a great VC investor?
I don't think there's a magic recipe, but these are the ingredients that count for me:
Curiosity, to take an interest in everything, understand problems, and perceive the opportunities they represent.
Intuition, which I don't think is innate, but comes gradually as you build up your convictions and learn to spot an unfair advantage.
Finally, I would say emotional intelligence, because this is a job where social interaction is at the heart of every process.
What are 3 things you look for in a founder?
Captivation. Vision. Data-driven.
What are the things in a business that excite you?
Product and the problem it solves. I'm all about making a real impact, not just spinning wheels. What gets me fired up is sensing a project's potential to be truly life-changing. When that clicks, it's either too early or everything else falls into place. So naturally, I'm also excited by timing. It's all about the right solution at the right moment.
What are mistakes that AWESOME founders don’t make, but many other founders make and you see repeatedly?
Top founders don't build their grand vision before nailing the problem-solution fit. Many others jump the gun, dreaming big before they've even proven their idea solves a real issue.
What are values that are ultra important to you in other people in business life?
Transparency. It's been my driving force throughout my professional journey. No smoke and mirrors, just clear, honest communication.
Describe what ‘partnership’ means to you.
Partnership is like a good sandwich – it needs the right ingredients, balanced flavors, and both sides working together. Too much of one thing, and it falls apart. Just the right mix, and you've got a recipe for success. In business terms: shared vision, complementary skills, and a willingness to split the last cookie in the conference room.
What are you chasing in your life?
Still trying to figure it out.
What intrigues you? As in, you see or hear something like this, you stop whatever you’re currently doing.
A truly great product. I'm talking about those 'why didn't I think of that?' moments.
Think of VC as an artisan craft, where every craftsman has their unique method and finesse. How would you describe your unique ‘craft’ in VC?
I'm honing my craft as a deal detective. My specialty? Unearthing the crucial nuggets of information that can make or break a deal. Like a skilled prospector, I'm getting better at spotting those golden insights amidst the noise.
Any favourite readings?
I rediscovered reading a few years back with self-development philosophy books. Now, I prefer using books to unplug my brain.
These days, I'm into novels, especially thrillers (think Harlan Coben) and sci-fi (like Liu Cixin).
What is your favourite quote or mantra that can be applied in a business context?
"Believe in your dreams and they may come true. Believe in yourself and they will surely come true." ― Martin Luther King
Cool. Now give a second quote or mantra you like in a business context.
"If you're going to make a mess, at least make it interesting." – My mom, probably.
What is your secret ninja-skill?
Multi-tasking maestro with a knack for adapting to any situation.
In what ways do you feel inferior to some people you look up to?
I'm often in awe of those who can make quick, confident decisions. While I'm weighing pros and cons, some folks seem to have a sixth sense for the right call. As a kid, I was the type to agonize for 30 minutes over pasta or pizza at Italian restaurants. I'm working on it, but for now, let's just say I'm keeping the 'venture' in venture capital very literal – every decision is an adventure.
If you were a superhero, what would be your superhero name?
'Keyboardman': Using 98% of his brainpower to type on a QWERTY as if it's AZERTY. One day, he might actually learn to use QWERTY properly. The struggle is real, but so is the determination!
What is one person in the world you would like to have dinner with?
My grandfather. I've heard incredible stories about him, but never from his own lips. One dinner to hear those tales firsthand – that would be priceless.
What can you nerd out over for hours with the right discussion partner?
The simulation hypothesis. There's a non-zero chance we're living in a computer simulation. Red pill or blue pill? Let's discuss.
When someone who knows you in your business life very well were to describe you, what adjectives would they use for you?
Reliable, honest, devoted, and needs to be challenged.
Is there something you would never mind spending a lot of money on?
Backpacking adventures. Ironically, it's not the most expensive way to travel.