Sufeng Li is the strategic mind behind Steppe Ventures and a dedicated solo angel investor. Sufeng’s journey into the startup world began with a pivot from theory to practice, moving quickly from attending webinars to making his first hands-on investment. Today, he is a specialist in identifying high-potential “misfits” in the early-revenue stage, specifically within the FinTech, Marketing Tech, and AI sectors.

Sufeng brings a sharp focus to the table, emphasizing the necessity of defensible data moats and the critical thinking required to master unit economics. We discuss his unique perspective on the Rotterdam ecosystem, his predictions for industrial innovation spillover from Amsterdam, and how platforms like Leapfunder are lowering the barriers for the next generation of founders. Join us as we explore why resilience, agility, and a grounded go-to-market strategy are the ultimate markers of a standout founder.

• Hi Sufeng, thank you for agreeing to do the interview. Could you please tell us how you first got connected to the startup world?

I initially joined a few startup webinars to learn the landscape. It was a theoretical start, but I knew that to really understand this world, I needed skin in the game. Shortly after, I made my first small-ticket investment to gain hands-on experience. That was my true entry point—learning by doing is the only way to navigate the startup ecosystem.

• Tell us about your work at Steppe Ventures, where you’re leading early-stage investments, with a focus on FinTech, EdTech, and AI-driven startups.

I operate as a solo angel investor, sourcing deals through my personal network, syndicates, and public platforms. My focus is on early-stage, early-revenue startups; the “misfits” or the underdogs who are just starting to prove their concept.

I look for companies with a strong in-house tech capability, a defensible data moat, or a very clear niche market positioning. While I look across sectors, I am particularly active in FinTech, Marketing Tech, and AI application in productivity.

• What is it about entrepreneurship that particularly attracts you, and what is the best advice you can share with founders reading this interview?

I’m drawn to the level of critical thinking required to build a business from scratch. It’s not just about a “big idea”; it’s about shaping a solid financial plan and developing a deeply grounded go-to-market strategy.

The founders who stand out to me are those who truly understand their customers and, crucially, their unit economics. My advice to founders is: stay resilient and remain agile. The market will always give you data; the best founders are those who keep refining their strategy as they learn.

• Tell us about the startup ecosystem in Rotterdam. What are the opportunities, what are the challenges? What do you predict for the near future?

The ecosystem in Rotterdam feels less active compared to Amsterdam, where the majority of major startup events, investors, and founders tend to gather. That density is a challenge; there are fewer local meetups and capital networks.

However, Rotterdam has massive untapped potential in logistics, sustainability, and industrial innovation, given the city’s economic profile. In the near future, I expect more spillover from Amsterdam and a gradual strengthening of niche, industry-driven startups right here in Rotterdam. It’s an ecosystem that is currently “under the radar.”

• What do you think about Leapfunder’s role in the Dutch startup ecosystem? How important is it to facilitate early-stage startup financing?

Leapfunder plays an important role by giving less-experienced founders a practical, structured platform to raise their first round. It offers straightforward investment instruments and facilitates the fundraising process from end to end.

Early-stage financing is the lifeblood of innovation. Platforms like Leapfunder are critical because they lower the barrier for both founders and new angel investors to get started in a professional way.

Thank you very much for sharing your story and insights, Sufeng. We wish you the best of luck in your future endeavors.

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