Paul Klemm is based in Munich but is known as one of Earlybird's most active investors in the Nordics, and he has a habit of backing the same founders more than once, like when he invested in Avrea in part because he had already backed Hannu Valtonen's earlier company, Aiven. He also has a finance-heavy background, having worked at Monkfish Equity and in HSBC's family office division before joining Earlybird, and he's one of the partners named in leading the firm's new perpetual active ownership model.