For more than a decade, high-tech startups were the darlings of the investment world. Flush with venture capital and optimism, founders were encouraged to scale fast, burn cash, and and made “disruption” the goal, not the consequence.
Then came 2022.
Inflation. War. Interest rates, once near zero for more than a decade, jumped and snapped us out of the fantasy. The risk appetite dried up almost overnight. And suddenly, being practical felt… revolutionary.
"The peak was 2022," says Dom, a venture capital fundraiser and close partner to Fram. "Once interest rates started rising, money began flowing out of high-risk investments like VC and into safer assets."
VC firms that once scattered capital across dozens of startups began to collapse - or adapt.
We invited Dom to help us understand what this means for builders, creatives, and companies like Fram.
The old VC playbook was simple: fund 20 startups, hope one becomes a unicorn, and let its success cover the others. Dom calls it the "spray and pray" era.
"That model is over. The funds doing that? Many aren’t around anymore."
Today’s venture capitalists are choosier, slower, and far more aligned with private equity thinking. They want revenue. They want resilience. They want companies that sell real things to real people. More like private equity than Silicon Valley myth.
That’s led to a surprising resurgence:
The kinds of companies that never went to Web Summit. The ones with outdated websites. The ones quietly generating millions.
"Toilet paper companies. Screw manufacturers. These are the ones VCs are looking at now," Dom says. "They sell essentials. They don’t disappear when the hype fades."
And they’re starting to realize that digitization isn’t optional. It’s overdue.
At Fram, we’ve always believed good design belongs everywhere - not just in SaaS dashboards or crypto apps. So it’s not surprising to us that traditional companies are suddenly interesting again.
Traditional businesses are finally undergoing digital transformation. And unlike startups, they don’t want to build internal teams. They want experts who can help them modernize - without ego, without noise, and without selling them something they don’t need.
"These companies don’t want five marketers on payroll. But they do want partners who can help them modernize fast."
That’s where digital product studios, UX agencies, and branding teams can win big. We know. We’re one of them.
The world of high-growth, high-risk startups hasn’t disappeared. But the market is shifting back toward businesses with fundamentals: profitability, product-market fit, and long-term relevance.
What’s rising now is something quieter, steadier, and, frankly, more meaningful.
This isn’t about chasing the next big thing. It’s about building the next right thing - with people who’ve been overlooked for years.
So, if you’re a designer, a strategist, a builder - you might want to look beyond the pitch decks and venture portfolios. The message is clear:
"The future isn’t boring. It’s sustainable," Dom says. "And right now, that’s what investors want."
Because the most interesting work ahead? It might come from the companies that never wanted to be interesting in the first place
About the author - Ari De Bernardi is a seasoned prfessional with past experience in Business Development projects concerning the Nordic markets as well the MENA region. Ari was based in Düsseldorf, Germany as acting head of office for a Swedish company involved in Energy & Renewables. In the realm of Ari's activities he is the founder of Eliel Advisory OÜ, a boutique advisory firm with offices in Estonia, Sweden and Israel.Eliel Advisory OÜ specializes in the triad of business development, innovation sourcing and M&A.
Our friendly team would love to hear from you.
By submitting this form you agree with our Privacy Policy
