“Bootstrap! Retain your equity. Don’t give up your ownership too easily,” Sir Martin Sorrell advised startups during his fireside chat at Arctic15 Stockholm.

Sorrell stressed that capital from private equity firms is usually the most costly for founders.

“If it’s a smart deal for them, it’s a bad deal for you,” he said.

Sir Martin Sorrell founded investment firm S4 Capital after leaving his position at the helms of WPP, and he has been an active player in global M&A deals since 1980s.

He said management’s significant shareholding was one of the key factors when making investment decisions.

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