EUVC

In this episode of the EUVC podcast, Andreas talks with Alberto Chalon, founding GP of Giano Capital and an expert with a decade of experience in venture secondaries.

Andreas and Alberto dive deep into the sell-side of venture secondaries, exploring the fundamentals that drive the market, the motivations of key players, and the nuances of preparing for a sale. Alberto shares his sophisticated approach to buyer processes, using a quantitative scorecard, and provides a practical guide for sellers navigating valuation, pricing, and legal challenges. Their conversation also addresses the current dynamics and trends shaping the secondaries market, offering a comprehensive look at what it takes to succeed.

At Giano Capital, Alberto specializes in secondaries, drawing on his extensive experience to drive value for both buyers and sellers. This episode is packed with real-world insights and practical examples, making it an essential listen for anyone looking to understand or engage in the world of venture secondaries.

Go to eu.vc to read the core take-aways.

Chapters:

00:33 Gianno Capital's Focus and Mission
01:13 Current Transactions and Future Prospects
01:36 The Rise of Secondaries
02:04 Understanding the Secondary Market
02:33 Key Players and Stakeholders
02:49 Market Evolution and Opportunities
05:20 Differences Between US and European Markets
06:32 Types of Sellers in the Secondary Market
10:28 Role of Intermediaries in Secondary Transactions
13:34 The Buyer Process and Giano Capital's Framework
15:20 Quantitative Analysis and Scorecard Approach
20:47 Qualitative Analysis and Reference Checks
22:12 Valuation and Pricing Strategies
25:37 Legal and Financial Due Diligence
28:50 Closing the Deal 31:29 Preparation for a Sale from a Fund
36:15 Valuation Preparation for Assets
38:02 Final Thoughts and Conclusion

In this episode of the EUVC podcast, Andreas talks with Sandeep Bakshi, Head of European Investments at Prosus Ventures.

Andreas and Sandeep discuss the evolving dynamics of early-stage investing across Europe and beyond, sharing insights into how Prosus Ventures identifies opportunities in a global landscape. Sandeep offers his perspective on navigating the European VC scene, reflecting on the unique challenges and opportunities facing founders today. The conversation also covers the role of strategic capital in scaling startups, with a focus on the sectors and trends shaping the next decade.

At Prosus Ventures, Sandeep oversees a diverse portfolio targeting early-stage companies around the world. With notable investments such as Delivery Hero, iFood, OLX, Bilt Rewards, Corti, Superside, Avant Arte, and Oxford Ionics, Prosus Ventures continues to drive innovation by backing transformative startups across various sectors and geographies.

Go to eu.vc to read the core take-aways.

Chapters:

02:56 Understanding Prosus Ventures
04:03 Investment Strategies and Market Cap
07:29 Focus on AI for Marketplaces
14:22 Operational Efficiencies in Marketplaces
18:04 Generative AI in Creative Services
23:20 AI in Search and Discovery
24:37 Challenges in Deep Tech Talent
25:22 The Axis of Talent
26:37 Europe vs. Other Regions in AI Marketplaces
28:02 Innovations in India and Southeast Asia
29:55 Social Commerce and Conversational Tools
31:23 AI Tools for Marketplaces
32:50 AI Reshaping Shopping Habits
36:07 The Role of Agents in AI
38:08 Investment Opportunities in Europe's AI Marketplaces
43:29 Sandeep's Personal Journey and Insights
45:32 Controversial Beliefs and Market Trends

Hello and welcome back to 'At The Cap Table”, a podcast series here at EUVC, where we explore the journeys and insights of some of the most influential leaders in venture capital. Today, we’re thrilled to have Evgenia Plotnikova, General Partner at London HQ’d Dawn Capital. 

From her start in investment banking during the financial crisis to her role now in VC, she talks about the challenges, successes, and what it takes to thrive in an ever-evolving industry. 

We dive into her work at Dawn, what it means to be a B2B software specialist, and her thoughts on navigating today's exciting AI landscape. Let's get into it!

Go to eu.vc to read the core take-aways.

Chapters:

00:14 Guest Introduction: Evgenia Plotnikova
00:20 Evgenia's Early Career in Investment Banking
00:30 Transition to Venture Capital
00:49 Invitation to Venture Escape Event
01:24 Welcome to the Interview
01:35 Evgenia's Journey to Dawn Capital
02:01 Early Career Challenges and Insights
03:19 Private Equity and the Shift to Venture Capital
04:59 Joining Dawn Capital
05:51 Dawn Capital's Focus and Specialization
08:57 The Importance of Mentorship
09:57 Team and Culture at Dawn Capital
13:51 Challenges and Resilience in Venture Capital
15:20 The Exit Environment in Venture Capital
20:49 AI and the Future of Venture Capital
22:34 Final Thoughts and Reflections
22:47 Alternative Career Paths 24:06 Conclusion of the Interview
00:41 Closing Invitation to Venture Escape Event

In this episode of the EUVC podcast, Andreas speaks with Maitham Mohamed, CEO of Material10.

Andreas and Maitham explore the rapid evolution of the gaming industry, discussing innovative business models and unique approaches to monetization that are reshaping consumer engagement worldwide. Maitham shares his journey to founding Material10 in 2022, highlighting his mission to revolutionize mass-market gaming with a free-to-play model that aims to drive sustained player engagement while building a new revenue framework.

At Material10, Maitham leads a lean team of 10 from the company’s headquarters in the United Kingdom, backed by €2.5 million in funding. With a focus on the global mass-market gaming audience, Material10 is positioning itself as a disruptive player in the gaming space, delivering immersive experiences that appeal to a broad demographic and challenging traditional B2C models.

Go to eu.vc to read the core take-aways.

Chapters:

00:17 Meet Maythem: Founder of Material10
00:52 The Revolutionary Business Model
01:06 Sponsor Message
02:14 Deep Work Retreat and First Impressions 
03:55 Maythem's Background and Journey
09:28 The Birth of Material10
13:01 Challenges in Web3 Gaming
23:31 Innovative Monetization Strategies
31:05 The Game Mechanics
33:37 Unveiling Project Fallen 
34:05 Trading Mechanics in the Game
35:20 Economies in Gaming 
37:19 Validating the Game Concept
39:32 Why Develop a Game Instead of a Platform
42:17 User Experience and Development Cycle
46:07 Team and Culture
48:40 Pre-Production Metrics and Marketing
54:17 Competitors and Market Landscape
01:02:32 Future Vision and Final Thoughts

In this episode of the EUVC podcast, Andreas sits down with Jan Lynn-Matern, Founder and General Partner at Emerge, a global pre-seed fund backed by over 100 leading operators in the future of work and learning. Jan shares Emerge’s mission to democratize access to opportunity for early-stage founders, providing not just capital but deep expertise and a community of seasoned professionals.

Together, Andreas and Jan dive into how AI is transforming work and education. They discuss Emerge’s investment philosophy and focus on impact, the importance of nurturing curiosity from a young age, and Jan's insights on the European market and its dynamics. Jan sheds light on the evolving landscape of education, the challenges and opportunities posed by generative AI, and how these shifts are redefining job markets. The conversation explores the critical need for adaptability and upskilling within organizations to keep up with technological change and how AI could become a powerful tool for enhancing learning and career development.

This episode offers a nuanced look at Jan’s journey, Emerge’s investment approach, and the unique role AI plays in reshaping the future of work, learning, and access to opportunity.

Go to eu.vc to read the core take-aways.

Chapters:

00:02 Meet Jan from Emerge
00:25 Emerge's Mission and Impact
01:48 Personal Stories and Inspirations
02:23 The Role of AI in Learning and Work
04:16 Founding Journey of Emerge
07:31 Investment Philosophy and Strategies
20:01 The European Opportunity
21:36 Technological and Societal Convergences
25:43 Investment Themes: Learn, Navigate, Work
38:51 Consumer Learning and AI in Education
39:49 Challenges in Formal Education Systems
40:50 The Decline of Traditional Universities
42:30 AI-Powered Learning Support for Students
44:50 Innovative Education Models 
46:09 Personal Experiences with Education Systems
49:19 Navigating Career Choices with AI
56:23 AI in Recruitment and Career Development
01:01:11 Upskilling and AI Adoption in Enterprises
01:07:50 Future of Education and Final Thoughts

Welcome to a new episode of the EUVC podcast, where we’ll cover recent news and movements in the European tech landscape with Dan Bowyer and Mads Jensen from SuperSeed.

Go to eu.vc to read the core take-aways.

Chapters:

00:00 Introduction: What's Happening This Week? 
00:59 Election Drama and Trump Headlines
01:26 The Most Expensive Election
Ever 02:03 Swing States and Predictions
03:05 Potential Civil Unrest
03:38 Trump's Policy Implications
05:20 The CHIPS Act Debate
09:20 European Chips Act
11:47 UK's Semiconductor Strategy
13:20 Government Investment and Planning
18:16 Berkshire Hathaway's Cash Reserves
18:59 Warren Buffett's Investment Strategy
21:46 ChatGPT vs. Google Search
23:41 AI Boom and Market Cap Gains
24:00 Europe's Role in Semiconductors
25:04 Startup Founder Mental Health
26:15 VC's Role in Founder Support

In this episode of the EUVC podcast, Andreas is joined by Robin Haak, the solo GP behind Robin Capital, to share his unique journey through venture capital and entrepreneurship.

Robin opens up about his extraordinary path, from building a coffee shop in Bhutan to fighting Muay Thai in Thailand, and how these experiences shaped his investing philosophy. Andreas and Robin discuss the realities of being a solo GP in Europe, the challenges of fundraising, and the importance of community-driven LP relationships. Robin shares why he chose the solo GP route after co-built Revaia, a €250 million growth fund, and why staying small and boutique matters to him.

This episode goes beyond the typical investment talk. It dives deep into what drives Robin, the principles behind his investments, and the personal journey that shaped him into the investor he is today. Robin’s story is one of resilience, growth, and a deep desire to serve founders in ways that go beyond just financial backing.

Go to eu.vc for our core learnings and the full video interview 👀

Chapters:

02:55 Robin Capital: The Basics
03:59 Investment Strategy and Progress
05:54 Challenges of Fundraising
09:14 Personal Journey and Philosophy
13:02 Spirituality and Life Lessons
16:54 The Importance of Community
17:46 Long-Term Vision and Acceptance
20:07 Spiritual Exploration and Insights
25:23 Conclusion and Newsletter Shoutout
26:59 The Journey's End: Funding Status
27:17 Finding Passion in Marketing
27:45 The Love for Human Stories
28:34 Exploring Bhutan: A Personal Journey
30:36 Meeting the Royal Family
32:13 Building a Coffee Shop in Bhutan
32:47 Impact of COVID-19
33:10 Transition Back to Travel Business
34:09 The Role of Operators in VC
44:57 The Importance of Serving Founders

In the ever-evolving landscape of business communication, platforms like WhatsApp are no longer just messaging apps but have transformed into powerful platforms enabling businesses to connect with their customers in groundbreaking ways.

The latest episode of Startups in Focus features Carlos Espinal and Felix Martinez from Seedcamp, dive deep into this topic with Tarek Khalil and Mohamed Elbadwihi, co-founders of Rasayel, exploring how they are leveraging WhatsApp to redefine business communication.

Go to eu.vc for our core learnings and the full video interview 👀

Chapters:

00:35 Founders' Backgrounds and Journey
02:42 Lessons Learned from Previous Startups
04:59 The Birth of Rasael
07:35 Understanding Rasael's Product 
10:08 WhatsApp as a Business Platform
12:59 Platform Risks and Meta's Incentives
16:00 Global Adoption of WhatsApp
18:37 WhatsApp's Role in Business Functions
20:52 Navigating Multiple Messaging Platforms
23:25 Global Customer Insights
23:41 The Dominance of WhatsApp
24:12 Trust and Confidentiality
25:12 WhatsApp's Strategic Development
26:42 Regional Messaging Preferences
27:10 Navigating Multiple Channels
31:07 WhatsApp Business Platform
32:41 Compliance and Data Management
37:01 Future of WhatsApp Integrations
44:28 Conclusion and Contact Information

In this episode of the EUVC podcast, Andreas discusses with Mikael Johnsson, co-founder and General Partner of Oxx.

Andreas and Mikael discuss the key strategies and insights that have shaped Oxx as a leading player in the European B2B SaaS investment landscape. Mikael shares his extensive 24-year journey in venture capital, highlighting the evolution of his investment philosophy and the experiences that have driven Oxx’s unique approach to backing scale-up stage companies.

Oxx’s second fund, totaling $190M, underscores the firm’s commitment to supporting B2B SaaS innovators across Europe and Israel. With a team of six in Stockholm and nine in London, Oxx maintains a pan-European reach, enabling it to stay closely connected to the pulse of regional tech ecosystems. The firm’s notable investments, including Funnel, Gravitee, and SOCRadar, exemplify Oxx’s focus on high-potential SaaS businesses with the ambition and capability to scale internationally.

Go to eu.vc for our core learnings and the full video interview 👀

Chapters:

02:35 Meet Michael Johnson of Oxx
03:04 Michael's Journey into Venture Capital
04:35 The Intellectual Curiosity of Venture Capital
05:20 Building and Growing Companies
06:11 Challenges and Stubbornness in Venture
07:31 Pivotal Moments and Lessons Learned
09:47 Oxx's Investment Strategy
13:49 The Importance of Product-Market Fit
19:07 The State of Early Stage and Growth Stage VC in Europe
26:00 Challenges in Scaling Venture Firms
26:44 Optimism in European Venture Ecosystem 2
7:30 Importance of Positioning for Startups
28:43 Building a Scalable Company
29:49 Common Mistakes by Founders
30:59 Evaluating Companies for Investment
32:11 The Role of Hustle and Strategy
36:29 Issues in the Venture Capital Industry
49:12 Final Thoughts and Learnings:

In this episode of the EUVC podcast, Andreas talks with Carmen Alfonso Rico, a self-described VC turned angel at Cocoa Ventures. and Evan Finkel, Head of Venture Capital Investments at Integra Global Advisors.

Carmen is leading the charge at Cocoa Ventures, a €15M fund headquartered in the UK and focused on backing pre-seed and seed-stage startups across Europe. Cocoa Ventures invests across sectors, emphasizing Carmen’s vision of supporting bold founders in their first institutional round. Notable investments include Speckle, Eventstore, FDM, Tilebox, Fractile from Cocoa I, and hopin, SideQuest, Hived, pre-Cocoa.

At Integra Global Advisors, a venture fund with €700M in assets under management, Evan targets early-stage and emerging managers across the US, LatAm, Europe, and Israel. Notable investments include Plural, Fly, and Retail (EU).

Carmen, and Evan delve into the complexities of LP-GP relationships in venture capital, emphasizing the importance of separating personal and business dynamics. They also share insights on identifying strong GPs and the importance of maintaining integrity in the venture ecosystem and discuss the complexities of management fees and carry in the venture capital landscape, emphasizing the need for alignment of incentives between GPs and LPs.

Go to eu.vc for our core learnings and the full video interview 👀

Chapters:

02:10 Diving into Personal and Business Relationships
04:09 Managing LPGP Relationships 
10:45 Gamesmanship in Business 
15:07 Challenges of First Closings
23:57 Re-ups and Signaling in Fundraising
32:50 Handling Fund Breakups
45:30 Succession Planning in VC
46:33 Tough Decisions in Venture Capital
48:00 Assessing Emerging Managers
49:16 The Importance of Personal Brand in VC
50:30 Carmen and Cocoa: A Perfect Synergy
53:18 Management Fees and Carry: A Deep Dive
55:52 Challenges with the 2% Management Fee Model
01:03:05 The Debate on Carry Structures
01:05:12 European vs. American Waterfalls
01:11:39 Navigating LP-GP Relationships
01:29:14 Closing Thoughts and Future Topics