The Anti-Fund: One Investor's Bet on SPVs | Enrico Mellis, Animal

Enrico Mellis spent a year at the startup that became Foodora, nearly five at Project A, and four and a half more at Lakestar. In November 2025 he launched Animal: no fund, no management fee, just his own check going in first on every deal, with a small group of angels invited in behind him. Here’s what stuck with me: Venture is really three jobs wearing one trenchcoat: sourcing, selecting and…