Expect fascinating stories from Balderton's Rana Yared about her invaluable experiences from taking many companies from seed to successful exit, hear from industry experts like Speedinvest’s Deepali Nangia, who will share what it's like to who will share what it's like to make a move from angel investing into VC. Check Warner from Ada Ventures will discuss building a global movement to address barriers to entry in the industry, and we'll learn, amongst many others.

This podcast is not limited to a single nation but will bring you perspectives from investors all across Europe and beyond. We'll hear from investors in the UK, Germany, France, and more!

Your hosts for this podcast series count are none other than Sarah Finegan from Antler & Chloe Dagnell and Savitri Tan from Isomer Capital 🚀 We are also supported by the firms we work for. Antler , the world's leading day zero investor and the most active early-stage VC firm in Europe, made an impressive 102 investments into European startups in 2022. We are committed to further increasing our investment rate this year to support the emerging world-class founder talent in Europe.Isomer Capital, on the other hand, supports technology-enabled entrepreneurs throughout Europe through VC fund commitments, co-investments, and providing liquidity via secondary purchases of funds and companies.Whether you are an investor seeking to learn from top investors across Europe or a founder looking to raise capital, this podcast is a must-listen for all early-stage investing enthusiasts.So, let's dive into the exciting world of venture capital and uncover the stories behind the success of Europe's most influential investors.Let's go!

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theemergingvc.substack.com

For this week’s episode, we got a rare look at GP/LP co-investment dynamics with participants from both sides of the table. And most importantly: Alexis Hussou of HCVC & Chris Wade of Isomer have actually done deals together, so no skirting the uncomfortable stuff here.

I must say, I’m particularly proud of this episode as I do think it’s one of the most honest conversations we’ve brought on eu.vc. But let’s start with the beginning:

The origin story of the relationship between Isomer and HCVC

“This is very, very cool! I could get quite excited about this! I just sure hope that they know about venture capital as well!”

I could talk at length about how I’d wish more LPs would think about emerging VCs like that. But I’d both be talking my own book and preaching to the choir, so I’ll hold my peace.

Managing LP relations in co-investments

It’s a funny thing with co-investments. On the one hand, many LPs focus on getting rights/opportunities to access on these when investing, on the other hand, many GPs express that LPs typically fail to follow through when they get the opportunity. To the level that I created this gif some time ago:

But there’s many things to consider when doing it. We asked Alexis to expand on how he thinks about LP-co-investing.

You have to do this with people where there's a lot of trust on both sides.

Exactly, the point of trust in the relationship was seconded by Chris:

“The overwhelming most important thing an LP can ask of a GP is to be transparent and that we can have a trusting relationship. And this act was more affirmation than we ever needed that we were backing the right manager.”

Now finally, before letting you go on to the rest of this newsletter, I wanna share with you the below segment as one thing I keep seeing is emerging VCs not spending enough time (if any!) on getting to understand potential LPs’ context and motivations for investing.

LP motivations & reflections on co-investments

We run by this fundamental inconvenient truth: Funds don't make money, companies make money.

Listen to the whole episode below or wherever you get your podcasts.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theemergingvc.substack.com

This week we were joined by Umerah Akram, Head of Private Markets at the London Stock Exchange Group (LSEG) and Martijn de Wever, Founder of Floww to dive deep on how they’re changing how private markets are run.

I must say, we’ve seen quite a few firms come up in Europe lately trying to disrupt exactly this. And some have looked quite similar, if not indistinguishable. So when I first heard about Floww, I was suspicious.

But I do actually think there’s something to pay attention to here.

‘Cos Floww has partnered with LSEG, yes - that LSEG. The London Stock Exchange Group. And they’re not playing the game of building a centralized platform for private markets, but rather the game of empowering the decentralized nature of private markets.

“It's in nobody's interest to have a centralized market. It is more in everybody's interest to take away the pain problems of running liquidity events. I belive you either disrupt the current market players or you empower them. Hey, I'm much more a believer of empowering players.

Martijn de Wever, Founder of Floww

But what’s that Floww x LSEG partnership about? What’s the stock exchange getting into this for? We asked Umerah, Head of Private Markets, to take us through their motivations:

We are looking at creating a new type of wholesale market in the UK, which the government is committed to and is referred to as the Intermission Trading Venue by the UK Treasury, which is really about giving private companies opportunity to access periodic liquidity and we will be leveraging some of our public market assets to deliver that.

Umerah Akram, Head of Private Markets at LSEG

Now that’s exciting! … At least it is to me! 🤓 Join us in experiencing the vision that LSEG and Floww are pioneering for the private markets by listening to the full episode below or sign-up for our joint event on the 15th of June 3:30 CET.You can also listen on your favorite podcast platforms: linktree.com/theeuropeanvc

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theemergingvc.substack.com

Today we are happy yo welcome Bruno Raillard, Co-founder & Managing Partner at Frst, a “Day 1” VC focused on founders building global-scale companies out of the French ecosystem. Launched in 2015, Frst now has over 200m€ under management and has invested in the likes of Payfit, Owkin, Pigment, Electra and Shippeo. Before launching Frst Bruno has built his career in financial consulting and general management working with startups, SMBs and large enterprises across a broad spectrum of industries.

In this episode you’ll learn:

* The journey from financial consulting, to running a family office and finally launching Frst

* Bruno’s reflections on the French tech and VC ecosystem, why it’s considered closed by many and why an old adage would have said that French startups are destined to max out before unicorn status

* Bruno’s reflections on pivoting from running an FO to running an independent fund

* A deep dive on Frst’s recently launched paper “Appel au Génie Français” (loosely translated to “Call to French Genius”) and how it relates to their investment thesis and strategy

The paper discussed in the episode can be read in English on episode page on eu.vc and in original French on https://www.linkedin.com/pulse/appel-au-génie-français-bruno-raillard

You can also listen on your favorite podcast platforms: linktree.com/theeuropeanvc

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theemergingvc.substack.com

Today we are happy to welcome Enrique Alvarado Hablutzel and Christin ter Braak-Forstinger, Co-Founders of Chi Impact Capital, the conscious impact investor that is creating strong financial returns by investing in core-regenerative business models that advance the most burning Sustainable Development Goals in Europe. Through the Burning Issues Impact Fund, Chi is scaling early growth stage companies using breakthrough technologies to transform the sectors they operate in.

In this episode you’ll learn:

* An honest discussion of SFDR and the reason why it’s at risk of being more red tape than real change

* Reflections on the future of vertical farming and the business models and technology being applied in the space

* TTying fund carry to positive impact and the design of governance bodies

You can also listen on your favorite podcast platforms: linktree.com/theeuropeanvc

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theemergingvc.substack.com

Today we are happy to welcome Augustin Sayer, General Partner at OVNI Capital, a VC seed fund specialising in France-based tech startups. Based in Paris, Augustin manages the company's investments in France and Israel. He was previously Partner at Newfund, a french-american fund, overseeing 20 investments in companies such as FairMoney, the largest African neo-bank, and Umiami, a plant-based texture technology company.

In this episode you’ll learn:

* From Banking to PE, to founder to VC to now emerging manager

* How Gus’ journey as monoentrepreneur made him realize that VC was the way to go

* Everything about the French ecosystem and how to think about it

* Why OVNI’s thesis of backing French founders who are international from day-1 positions them incredibly

You can also listen on your favorite podcast platforms: linktree.com/theeuropeanvc

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theemergingvc.substack.com

Today we are happy to welcome Kim Lundberg, Senior Portfolio Manager at the Export and Investment Fund of Denmark, formerly known as Vækstfonden, a Danish Growth Fund that he joined in 2017. Kin has been supporting numerous Danish startups with venture debt and growth loans in collaboration with both investors and other venture debt lenders, offering a great overview on tech lending.

In this episode you’ll learn:

* Tech lending deep dive, it’s history, role and who it’s for (and not!)

* The intricacies and nuances of Venture debt and Revenue-based financing and how to employ these services as a VC for your founders

* The core terms you need to know and how to think about them

* Kim’s take on the effects of tech lenders not having an equity reward as part of their deal structure

* Where to seek more knowledge and key resources about venture debt

You can also listen on your favorite podcast platforms: linktree.com/theeuropeanvc

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theemergingvc.substack.com

Today we are happy to welcome Nick de la Forge, Co-Founder and General Partner of Planet A, a leading European GreenTech Fund looking to invest into scalable, sustainable innovation. Before following the calling of building Planet A, Nick worked in different roles at leading firms at European deep-tech startups and funds, his own company Scalewonder, and he has a long-ranging track record as an angel investor in the WEB2.0 and WEB3.0.

In this episode you’ll learn:

* Nick’s surprising journey from his university studies to Web 3 to finally launching Planet A

* Nick's views on ReFi as investment vertical and solution to our climate issues

* How to build from a theory of change when building your fund and why causing systemic change is a success criteria for Planet A

* The importance of ensuring that prospective LPs understand and accept the core assumptions of your fund

* How Planet A employ Life Cycle Assessments to measure impact and use science in your investment decision making

You can also listen on your favorite podcast platforms: linktree.com/theeuropeanvc

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theemergingvc.substack.com

This is the second part of Miguel's episode. Today we will explore the common misconceptions about the VC techstack and check his top tips for emerging VCs building their techstack. Miguel is the head of technology at Seedcamp, the European seed fund launched in 2007 that helps European entrepreneurs to compete on a global scale. He works on internal and public-facing projects ensuring they leverage the right tool suite to continue to identify, invest and support the most exciting companies out there.

In this episode you’ll learn:

* Why following the herd and FOMO is the worst, yet one of the most pervasive way to select tools for your VC tech stack

* Why Airtable is an absolute power tool for VCs and Miguel’s perspectives on leveraging it’s power

* Why Miguel believes there’s too little deep thinking about the VC tech stack and too many looking for a magic bullet rather than making the effort to build their own path

* How to think about the organizational development to leverage the power of data and tech as a VC - when to hire a Miguel!? Should you even?

* How Miguel thinks about the trend of data driven VC and if it’s more than just big words

You can also listen on your favorite podcast platforms: linktree.com/theeuropeanvc

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theemergingvc.substack.com

Today we have a special episode, brought to you by Latitude 59, the flagship startup and tech event of the world’s first digital society taking place in Tallinn, Estonia, from the 24th to the 26th of May. Latitude59, in collaboration with a syndicate by Estonian Business Angels Network and TeraVC, is looking for bold and promising startups that are shifting paradigms and changing the world for the better, to compete for €1 million in 2023. And on that note, we are happy to welcome Andrus Oks, Founding Partner of Tera VC, and Martin Gorosko, Head of Business Development at TEHNOPOL, member of EstBAN and co-lead of the 1M€ investment during Latitude59 conference.

In this episode you’ll learn:

– Why you should consider having Latitude59 on your event plan this year

– Why Andrus and Martin have committed to the 1m€ prize pot for the Latitude59 Pitch competition

– A look behind the scenes of the process, deliberations and decision criteria behind the 1m€ prize pot

– A discussion of the Estonian venture scene and how it’s positioned in relation to the New Nordics and Baltics

You can also listen on your favorite podcast platforms: linktree.com/theeuropeanvc

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit theemergingvc.substack.com