At the EUVC Summit, Bernard Dalle (formerly of Index Ventures) and Thomas Kristensen (LGT Capital Partners) shared candid reflections on how to build a venture firm from the inside out. Instead of fixating on star hires and grand strategies, their talk emphasized the compounding power of cultural alignment, junior talent development, and early operational investment.

Drawing on first-hand experience, they unpack what it takes to build enduring institutions—where team, trust, and time matter more than titles.

Whether you're raising your first fund or scaling your platform team, this conversation offers timeless lessons from one of Europe’s most respected firms.

Here’s what’s covered:

* 00:45 Betting on People: Why hiring for cultural fit beats chasing CVs

* 02:20 Long-Term Talent Playbooks: Junior hires, long runway, big impact

* 03:50 Under-hiring on Purpose: Why Index rarely hired GPs straight out

* 05:10 The Operations Edge: Building support teams early pays dividends

* 07:00 The Index Blueprint: Early days with David, Pascal, and a deep ops bench

* 08:30 Institutional Memory: Capturing partner insights across the portfolio

📺 Watch the episode here or stream it on Spotify or Apple Podcasts—now with chapters for easy navigation 🎧

Grow Internally Before You Scale Externally

Both Bernard and Thomas echoed a core belief: venture firms are built on trust, not just track records. That’s why hiring younger people who bet into the culture often outperforms bringing in outsiders at the top.

“Even with senior roles, we found more success hiring a level below and letting people grow into it.”

Promotions rooted in trust and internal performance, rather than title inflation, created stronger leadership and tighter alignment.

Build Your Ops Early—Or Pay the Price Later

While many firms overlook operations at the beginning, Index took a different path. With David and Pascal joining early, the firm gained depth and foresight many others lacked.

“Too often ops is neglected, but early investment creates leverage.”

Ops wasn’t an afterthought—it was part of the strategy. It enabled scale, reduced friction, and preserved culture.

Remember What Your Firm Knows

A subtle but powerful point emerged in their discussion of portfolio review culture: firms need collective memory.

“You’d say ‘this partner thinks such and such about that company’—and that layered view across time is invaluable.”

This isn’t just deal tracking—it’s curating evolving partner perspectives across years. That’s how conviction is built.

Final Message: Think in Decades

For both speakers, success wasn’t about short-term wins—it was about planning a decade ahead. Build teams slowly. Invest in culture early. Remember what you learn. That’s how great firms endure.

“This is the kind of thing you have to start thinking 10 years in advance.”

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Dario combines deep institutional, operational, and investment expertise, investing in early-stage companies and funds. Recognized as a "40 Rising Star under 40" by VCJ, he actively contributes to the industry.

Before founding LTV Capital, Dario co-led fund investments at Anthemis Group, a top fintech investor, where he developed early-stage fintech plays with BBVA and pioneered a media-financial services fund. His background also includes spearheading international expansion at emerging markets fintech JUMO and contributing to the creation of ROAM, now Africa's largest classifieds group.

Academically, he holds a Master of Business Science in Finance from the University of Cape Town; his dissertation on "Tencent Holdings Limited" is widely downloaded and cited.

Outside of work, Dario is a former 125cc motorcycle racing champion who now advises the Finetwork Mir Racing Team, supporting young talent in motorsports. He is driven by a passion for empowering others and fostering change in the emerging manager VC ecosystem.

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🗓️ The EU CVC Summit 2025 | 📆 26 - 28 August 2025 | 🇩🇰 Copenhagen, Denmark

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