Jens Lapinski

At our VC firm, we don't just fund companies, we fund your existential crises. Every investment comes with a complimentary philosophy book. #vc #startups #investment

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You know deeptech has gone mainstream when UBS is leaning hard into it. 🤷🏼‍♂️ It's difficult to make anything of this 'Deep Tech Nation Switzerland Foundation' as of now, other than the name is quite the mouthful. It's a foundation that 'will not launch its own funds', but 'the financial contributions of the partners flow into the foundation's assets, which are invested in the various programs to change the framework conditions in Switzerland in the long term and strengthen Switzerland's competitiveness in the global innovation race.' 🤔 Honestly, the corporates involved should just focus on being LPs. That's what Swiss (and all European) deeptech needs more of: European LPs investing in European deeptech VCs...who then invest in European deeptech startups and scaleups. Europeans love creating big, convoluted organisations doing bureaucratic things, even when it's not directly part of government. A word of advice to the Swiss: keep it simple. When you do involve more people though, make sure they actual know deeptech, have built deeptech companies, and/or have a track record of investing in deeptech companies. And involve international profiles. The Swiss ecosystem is waaaay too insular. It's a major handicap. Also, it looks like they took a page from the EIC fund's marketing and comms team and lifted the term 'unicorn factory' from them. Another word of advice to the Swissies: don't copy the EIC, especially not their marketing and comms. https://deeptechnation.ch/ https://lnkd.in/eT7VHG_d 🇨🇭🐄 🏔 ⌚️ 🫕 🧀 🍫 #vc #venturecapital #startups #entrepreneurs #entrepreneurship #tech #technology #innovation #deeptech #money #business

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Oh dear, after the Financial Times decided to "take a fresh look at Bitcoin's ESG credentials" https://lnkd.in/gf285mbi in Dec last year, an error and omission-ridden article has just been penned by Simon Mundy. Article: https://lnkd.in/gKPNERYA Overview: Mundy seems unaware that there have recently been 6 peer reviewed publications, 4 independent reports and numerous mainstream media articles including his own newspaper updating their thinking based on new data, supporting the positive environmental externalities of Bitcoin mining. He has instead recycled old myths and old data from 2021 to write a piece, the likes of which we haven't seen in a mainstream newspaper since last year. Article Rebuttal: These are the main 5 errors and omissions in the article 1. Mundy cites Cambridge's data from 2021-2 in saying "A large part of that energy comes from fossil-fuel burning power plants". However, Bitcoin is now over 50% powered by sustainable energy, as reported by Bloomberg Intelligence and other outlets in 2023 source: https://lnkd.in/gKfTUb6K 2. Mundy brings up 2 examples of fossil fuel plants supposedly revived by Bitcoin (Montana, and Lake Senaca). However Montana is no longer used for mining bitcoin (source: https://lnkd.in/gv7u4XH7) , and Lake Senace was never opened to mine Bitcoin in the first place (source: https://lnkd.in/gNv2bc7r) 3. His article also contains numerous value-judgements such as "fearsomely energy-inefficient". Inefficient? This claim is unsupported by data. Bitcoin can be run with 60x less energy than banking (source: https://lnkd.in/gPqXXyfV) 4. Mundy makes the claim that Bitcoin mining raised energy costs to Texans by "4.7 per cent" according to Wood Mackenzie, yet the linked article is an opinion piece and is contradicted by both peer-reviewed research and the grid operator at the time (Brad Jones) who said Bitcoin mining "brings down the cost of electricity for all Texans". (source: https://lnkd.in/gGcuiXXp) 5. Mundy states "Concerns about the impact on grid operations and consumer prices prompted the EIA to announce in January a mandatory survey of energy usage by crypto miners." This is factually incorrect. EIA did not initiate the survey. They were directed by the Whitehouse Administration to conduct this survey. Further, Mundy insinuates that the impact on grids of Bitcoin mining is negative. However peer reviewed research has demonstrated that Bitcoin mining helps to stabilize grid source: https://lnkd.in/g722jzjM) Overall, Mundy has much to learn about Bitcoin mining. We're here to engage whenever your ready.

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Want to exit as an early-stage founder? Yes, it is possible. But it requires a different approach to typical M&A dealmaking. A bit of context… I get 5-10 messages per week from relatively early-stage founders (traction, but not massively profitable yet) who are looking to exit. There are many reasons why - one of several projects, need more stable finances, tapped out and unsure what to do next. Etc. This also applies to relatively small businesses (sub-£5M revenue), owner-operated with a good team where the motivation may be a life-style change or retirement. Now. To be blunt and honest, in 90% of cases there isn’t an exit path - usually because of mis-match in expectations. (Eg: “We’re just one small investment away from building a $BN+ company”) But. Most of the time you can salvage a £1-10M outcome over a 12-36 month period. How? By treating it as an investment case to deliver an outcome for a specific target company. For example: You have a software product that helps insurance companies manage supply-chain risk. Let’s say the business does £500k revenue and covers costs. Your average M&A Advisory would try to sell the company based on the revenue/EBITDA and (after many months of false hope) fail to do so. They will get offers - but rarely ones you want to accept. My advice - and what I always recommend founders / owners do below 1M EBITDA - is to approach specific targets with an investment case to deliver outcomes. For example: Making / saving a target insurance company Z benefits over an agreed timescale with milestone payments. Becuase taking supply chain risk. This is a multi-million, even billion, sized problem that all wrestle with - and invest significant CapEx and OpEx into annually. If you can solve that - or deliver X saving … you get Y. Sounds fair, no? This is a very standard deal in enterprise consulting land. And beats shutting the venture down and feeling like you’ve failed. No. It’s not the all-cash deal from Google. Yes. It will require work to implement. Yes. It is a viable path for most owners / founders to realise a good return for creating value in a relatively de-risked way. See. What many founders / owners overlook is that the most valuable thing they have created isn’t IP … software … their service offering … etc … It’s actually their understanding of the problem, how to solve it, and a team who can solve it. So. If you are in this situation and looking for an exit. But aren’t really acquirable yet, why not give this a go? First step is putting together a short-list of targets who you might approach and are already investing in the problem (bigger is better). Hope useful. I wish someone had given me this advice on the dozens of early-stage ideas I walked away from over the years! #exitstrategy #founder #openequity

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Congratulations and many thanks for this work First Momentum Ventures, Dr. Maximilian Ochs, David Meiborg, Lena Späth, Reinhardt Karpenko ! Tach2yone GmbH as a Growth Equity investor in the Green Energy Transition and related areas is looking to invest in more mature Deep Tech companies (Series B and later). One of our most important investment criterion is (positive) EBITDA: we believe, that in industries with high CapEx, EBITDA is useful because it eliminates the distortions caused by significant depreciation and amortization expenses, providing a clearer view of operational profitability. Thus, EBITDA is an essential tool for us to assess a company’s core profitability and financial health. First Momentum Ventures and community: what are your thoughts on this approach and would you consider to take also EBITDA into your napkin for later stage companies?

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Thanks (again) Martin and Jan for the great discussion in today’s Investments & Exits episode of Startup Insider. See the link to the episode in the comments. 👉 TL;DR: (1) Congrats to the team from Caeli Wind GmbH for announcing their 11M EUR Series A from Notion Capital and Santander with participation of existing investors HTGF | High-Tech Gründerfonds. Ben Schlemmermeier and Heiko Bartels are building a platform to match wind park developers 🍃 with landlords of suitable locations ⛳. On top of matching these parties and taking out the friction in the market, the solution provides deep tooling for both sides of the platforn. (2) In that context we discussed the potential expansion opportunities and also the general need to be empathetic with both sides of such a marketplace model 🔄 (3) We all shared our fascination for the model and the team's approach and also highlighted that in many instances the real power of such a solution lies beyond the obvious. 🔍 (4) Finally, we reemphasized that we are both Cavalry Ventures and Picus Capital very open to talk to founders in the very early stage, especially on the non-obvious and tricky challenges that e.g., the #EnergyTech and #ClimateTech space is facing. #StartupInsider #InvestmentsExits #Podcast #PreSeed #Seed #Series A

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💡 The European AI Unicorn nobody has heard of 🎧 A few days ago, a $ 5.4 billion deal has been signed: A Russian consortium acquired Yandex's Russia-based assets - hereby cutting all ties of the Yandex N.V. publicly listed entity with Russia. Trading on the Nasdaq - with a peak market cap of $ 30 billion - Yandex's Nasdaq shares were suspended shortly after Moscow invaded Ukraine in February 2022. The company will be renamed to Nebius and retains the international assets, the purchase price and more than 1,000 very skilled engineers, as well as a datacenter in Finnland. Arkady Volozh, previously under EU sanctions which were lifted in March, is re-positioning the former tech giant towards one of a select few AI infrastructure companies based in Europe: Yandex’s original founder is a renowned internet entrepreneur and aims to leverage Nebius’s existing cloud platform to support the growing global AI industry by developing large-scale GPU clusters, cloud platforms, and tools for developers, aiming to be a unique publicly traded AI infrastructure stock outside Big Tech. Unlike other AI startups the group has already years of experience in applied AI, in areas ranging from internet search, cloud computing to self driving cars. And despite selling its Russian business at a discount, Nebius has money to invest in growth, targeting billions in investments from both internal and external sources. Volozh highlighted the current high demand for AI infrastructure, with pre-orders secured months in advance. Nebius plans to triple the capacity of its Finnish data center and maintain strong GPU access through its longstanding relationship with Nvidia. If the company is able to get the same multiples some former Bitcoin-Miners turned High-Performance-Computing (HPC) stocks have been able to command, this could become a very interesting „turnaround“ story. ⤵️ All sources in the comments Yandex #AI #unicorn #stocks #Nasdaq #Nebius

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Fintech mittelstand I became an entrepreneur in 2015 when I fell in love with blockchain and broke the shackles forever impeding my creativity. My calling was to democratise finance. I have failed to make any dent, but the game is not over yet. One thing I wanted to replicate was a mittelstand, the family-owned backbone of Germany’s manufacturing prowess and much of its GDP: the best quality possible known from devoted aficionados. Picture meeting for a coffee and whilst talking, your fingers run spontaneously appreciating the grain of that tabletop. You look under it and spot a brand you have never heard of; an online search finds it is behind the best coffee tables in the world…You are hooked and have become an ambassador. It’s a story of unbending, uncompromising quality, and care in everything you do: you aim to provide the best service and build the best product ever. In that quest, you have to be forever disappointed because it is an antidote to complacency.   Whilst the term “mittelstand” describes SMEs under 500 employees, I take the following attributes in everything I want to build (in no particular order): ✅ Quality – Respect the vision, the brand…treat everything you do as an opportunity to show your craft, as an opportunity to excel. Be proud of your output as good work done, not to build your ego. ✅ People – Without your team, you can’t build anything let alone get clients. Whilst you may not be able to pay market rate at the beginning, pay over it once you can because your teammates are your soul, your sales, your brand. ✅ Clients – Be of service with unparalleled customer service. There is always a human at the end of your tech stack so not only build your products for them but also with them (in mind but critically in flesh through user testing). Solve a customer’s problem without creating any in the process. ✅ Pride – Whilst you treat everyone with respect, you have a mindset where your product is the best in class, the Hermes of your aspirations which means you can say no to anyone that doesn't share your vision...prospect, client, or investor. ✅ Cashflow mission control – Easier said than done. Setting up a business is stressful enough hence having the right focus on the right numbers is important: low operating costs, decent margins, recurring revenues and therefore positive cashflow. ✅ Independence – it’s key to have control of your future to be free to research and develop new products, let alone pivot when the headwinds are too strong. Innovativeness is priceless. ✅ Strong connections – Size matters when it comes to making meaningful connections, knowing each other, and driving towards a shared goal. Your brand is an ambassador of the place it emanates from. It represents the best of the people building it. Be proud, be you...keep building! #motivation #leadership #learning #entrepreneurship #fintech #mindset #success #brand #startuplife #growth #mentalhealth #bankingindustry

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Market size slide often misses the mark due to a standardized approach by pitch coaching. This template mandates the inclusion of TAM, SAM, and SOM in three bubbles. You can find such templates all over the internet. 👀 Everywhere I found that entrepreneur claims “Our global TAM is $X B, but we are going to start in a certain part where our SAM is $Y B. And we project that our SOM is $Z B” It’s clear why entrepreneurs try to pump up their market size. They’ve been told that VC only interested in unicorns, and so they assume that the best way to become a unicorn is to go for the largest market. The thinking is that it's easier to get 2% of a very large market than it is to get 20% of a smaller market. So, they search for market data that allow them to claim that their TAM is $56B, or $256B, or even better, $2.5T. When this slide appears, most investors chuckle. Investors generally don’t give any credence to the market size. We may still ask founders how big their target market is, but the point is to see 'how founders think about segmentation, not to rate the startup based on how big they think.' 💡 Savvy investors prefer startups go after a market that doesn't yet exist. Better to create the market than try to unseat established competitors. Rather than claiming that you can disrupt a existing market, what’s more relevant and compelling is how you answer questions such as: 👇 1. Who are your target customers? 2. How will you reach them? 3. How many can you reach? 4. How will you convert them? 5. How many can you convert? 6. How will you onboard them? 7. How much will that cost? 8. What is a customer worth? 9. How many customers will you acquire this year,Next year,The year after? Most investors want to see market opportunity, not market size. They need to see that you understand more about your approach of reaching & onboard customers. Founders should build a bottom-up model that demonstrates how you will build a big, profitable, customer by customer business. Don’t suggest that your focus is on acquiring market share in a large market. 🙆‍♀️ We’ve heard several pitch on wearable technologies for dogs. They claim - there are 90M dogs in the US alone — at $9.95 a month subscription, that’s a $10B market! But truth is It doesn’t matter if there are only 20M or 200M dogs. What matters is how many dog owners the entrepreneur can convince, one by one, to sign up for this service. Define your target precisely, like "urban professionals, 25-35, earning $80,000+, active Instagram users, and dog owners." Entrepreneur should stop pitching the typical market-size slide. Instead, they should show investors that they understand the market opportunity customer by customer.💡 Check out my free newsletter for more insights: https://lnkd.in/dKZQKHg2 . #startups #funding #fundraising #founders #investors #VC #angelinvestors #founder #fund #money #runway #marketsize #market #entrepreneurship #entrepreneur #customers

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Vsquared VC: New Fund II Raised💰 Vsquared Ventures has successfully closed its Fund II at €214m to invest in early-stage deeptech startups across Europe. The fund significantly exceeded its initial target of €165m, reflecting the growing momentum and understanding of deeptech's importance in Europe. Founding partner Thomas Oehl attributes this success to the increasing recognition of deeptech's potential.🌟 The fund will invest between €500k and €5m in approximately 25 companies, reserving two-thirds of the fund for follow-on investments. The portfolio already includes notable startups: cylib, Synthara AG, and NEURA Robotics.🤖 🔎The new fund will focus on six key themes: AI and next-gen software, energy transition, new computing and sensing, space, tech bio, and robotics and manufacturing. Oehl emphasizes that Vsquared aims to be the first institutional investor in these deeptech startups, positioning itself as a leading supporter of innovative technologies.🦸‍♂️ Vsquared's latest fund is primarily backed by European LPs, including Novo Holdings, the NATO Innovation Fund (NIF), the Export and Investment Fund of Denmark, the European Investment Fund (EIF), and Germany’s KfW Capital . This deliberate choice showcases Vsquared as a pan-European fund. The fund also includes founders as LPs, such as Simon Bolz of Klara, and Dr. Oliver Trinchera and Dr. Alexander Huettenbrink, co-founders of KINEXON.💵 GP Lise Rechsteiner, PhD notes a significant shift in the perception of deeptech investments over the past few years. "Two or three years ago, you had to explain a lot why you were doing deeptech investments, and that has completely changed. There is no question around that anymore," she says. Rechsteiner emphasizes that Europe's strength in deeptech is underpinned by its high-quality universities, scientific research, and graduate talent. Rechsteiner highlights several emerging deeptech hubs outside the traditional powerhouses of Munich, London, Paris, and Stockholm. She sees Vilnius as strong in cybersecurity and tech bio, and Copenhagen emerging as a hub for quantum and biomanufacturing.🏦 Despite the immense opportunity for Europe to build deeptech champions, Rechsteiner points out challenges such as fragmentation in the European IPO market. Unlike the centralized Nasdaq in the US, Europe's decentralized IPO markets create a fragmented investor base, making it difficult for not-yet-profitable companies. "Getting rid of hurdles and trying to really see Europe as a united region would be amazing," Rechsteiner concludes. 🌍✨ ✅ Looking to raise capital for your #VCfund and increase the international pool of your LPs?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments (Series A/Series B)?   ▶G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE   #Deeptech #VentureCapital #EuropeanInnovation #Startups #TechInvesting

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Sequoia Capital asks founders one key question, which is one of the most fundamental questions entrepreneurs must consider. Once they have a precise answer, it simplifies everything - including fundraising. Here is the question: 𝗪𝗵𝗮𝘁'𝘀 𝘁𝗵𝗲 𝘀𝗰𝗮𝗹𝗲 𝗼𝗳 𝘆𝗼𝘂𝗿 𝗮𝗺𝗯𝗶𝘁𝗶𝗼𝗻? "𝘒𝘯𝘰𝘸𝘪𝘯𝘨 𝘵𝘩𝘦 𝘦𝘹𝘵𝘦𝘯𝘵 𝘢𝘯𝘥 𝘪𝘮𝘱𝘢𝘤𝘵 𝘰𝘧 𝘸𝘩𝘢𝘵 𝘺𝘰𝘶 𝘸𝘢𝘯𝘵 𝘵𝘰 𝘢𝘤𝘩𝘪𝘦𝘷𝘦 𝘪𝘴 𝘤𝘳𝘶𝘤𝘪𝘢𝘭 𝘵𝘰 𝘥𝘦𝘧𝘪𝘯𝘪𝘯𝘨 𝘵𝘩𝘦 𝘣𝘭𝘶𝘦𝘱𝘳𝘪𝘯𝘵 𝘧𝘰𝘳 𝘺𝘰𝘶𝘳 𝘤𝘰𝘮𝘱𝘢𝘯𝘺, 𝘺𝘰𝘶𝘳 𝘵𝘦𝘢𝘮, 𝘺𝘰𝘶𝘳 𝘤𝘶𝘭𝘵𝘶𝘳𝘦, 𝘺𝘰𝘶𝘳 𝘱𝘳𝘰𝘥𝘶𝘤𝘵 𝘷𝘪𝘴𝘪𝘰𝘯, 𝘢𝘯𝘥 𝘺𝘰𝘶𝘳 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘺." Roelof Botha, Partner at Sequoia Capital. Try to think about it and see if you can form a clear vision of your ambition. I personally find it challenging because of numerous biases coming from ego (itself fueled by social/media influence), that lead entrepreneurs to believe they must disrupt industries, transform people's lives, lead a global movement, make the world more sustainable, etc... you name it. Such ambitions are entirely valid and fulfilling when they originate from a place of truth within oneself—the gut, heart, instincts, and introspection—rather than external influences or the desire for control or recognition. While many people aspire to be heroes, lead meaningful lives, and potentially become rich, it is equally valid to free oneself from these stereotypes, let go of the pressure, and take some time to discover the life one genuinely wants to live. I am convinced this sole question has the power to bring clarity and strength to the entrepreneurial path. #ambition #truth #life

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atai (Nasdaq: ATAI) went public almost exactly 3 years ago. I am fully aware that ATAI Life Sciences AG (as well as most other psychedelic stocks) are trading roughly at all-time lows. While I know this is painful for all shareholders, including myself, the share price doesn’t reflect what I believe the fundamental prospects are:   ·      While I understand that biotech stocks are especially sensitive to interest rates – and that’s why, IMO, many other high quality biotech stocks are suffering the same share price dynamics as atai – atai has 8 (!) clinical stage (!) drugs in development to help tackle some of the most prevalent mental health issues of our time.   ·      Biotech always has the risk that trials don’t work out due to safety and/or efficacy. However, atai’s pipeline has purposefully targeted those (psychedelic) compounds with prior human evidence, which provides valuable insight into their safety and effectiveness and de-risks its pipeline.   ·      atai is the only company featuring a pipeline that, IMO, contains all major psychedelics that both make sense for development as a drug and which are supported by a strong patent estate - namely, psilocybin / psilocin, DMT, 5-MeO-DMT and ibogaine.   ·      Plus 2 psychedelic-adjacent compounds: R-Ketamine and R-MDMA.   ·      Plus 2 non-psychedelic mental health drugs.   ·      I know that many expect that the roll out of psychedelic therapy will be slow, as we indeed need to educate doctors and patients about a new treatment paradigm. However, I have exactly the opposite opinion: psychedelics have already arrived in society (from “How to change your mind” on Netflix to every dinner conversation I have), and many, many people touched by psychedelics go on to become “advocates”. The demand is there and is eagerly awaiting atai’s success. In my opinion, those who believe psychedelics will have a slow roll out will be very positively surprised.   ·      Yes, Spravato’s roll out was initially slow, but IMO it was because they didn’t initially know how to handle the roll out for a psychedelic drug. It was also a different time. And to give J&J credit, they paved the way for the 2-hour treatment window most of atai’s psychedelic compounds are designed to fall into. And if you look at Spravato’s numbers today you see they are now growing substantially and anticipated to shortly hit “blockbuster” status.   Please check out my blog post from earlier this year for more information.   I know it’s not easy for shareholders to navigate this ongoing biotech winter. But I deeply believe in the mission of atai and am of the mind that it will massively pay off: for patients and shareholders alike. #investing #future https://lnkd.in/gws78cV9

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By 2050, over 2.1 billion will be aged over 60. It is insane statistics, if you think about it. In light of this looming threat to societal structure, we are all trying to push aging research, support new technologies in the longevity field. But longevity research is not the only aspect to think about. I just read a pretty solid report “Longevity Economy Principles: The Foundation for a Financially Resilient Future,” published by the World Economic Forum, and here I want to bring your attention to the 6 principles for the longevity economy: ✔ Ensure financial resilience across key life events Nearly 40% globally face financial instability after unplanned career interruptions, including career breaks, illness or unexpected retirement.1 Public-private collaboration is crucial to support individuals navigating these challenges. ✔ Provide universal access to impartial financial education Only 33% of the global population is deemed financially literate, contributing to wealth inequalities, strongly correlated with life expectancy inequalities. Comprehensive, impartial financial education empowers individuals to make informed financial decisions. ✔ Prioritize healthy ageing as foundational for the longevity economy Around one-fifth of life is expected to be lived with illness,3 and 80% of adults in developing countries are concerned with the cost of medical expenses.4 Equitable access to health services can facilitate well-being for both the individual and broader society. ✔ Evolve jobs and lifelong skill-building for a multigenerational workforce Internationally, up to 25% of individuals aged 55 and older wish to work in old age but face barriers in finding opportunities.5 Demographic shifts and technology innovations require jobs and skill-building to adapt and evolve, enabling individuals to extend their working years as desired. ✔ Design systems and environments for social connection and purpose Social connection is integral to healthy longevity. Socially isolated older adults have a higher risk of poor health and earlier death. Intentional design of systems and environments for social connection can mitigate these impacts. ✔ Intentionally address longevity inequalities, including across gender, race and class Benefits of longevity are not distributed equitably. Advocacy for pay and pension equity, as well as support for informal caregivers, are some of the crucial elements to ensure that financial security and the benefits of longevity can be more accessible to all. Kudos to Haleh Nazeri and Rich Nuzum, CFA for creating this thought leadership piece. At LongeVC we support not only tech and science companies but also those helping improve the economic condition of various communities and democratize access to longevity for as many as possible. #longevityeconomy #longevity #globaleconomy #future Image credit: World Economic Forum

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Very insightful summary of the IMF study on Europe’s productivity issues and the potential for venture capital.

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🚩 22 investor red flags to look out for. 🚩 You deserve the best investors! But it’s easy to make a mistake. There are over 8,400* VCs in Europe alone. During fundraising you will meet many. And not all investors are created equal. They will all be selling themselves well. You will read and hear all kinds of superlatives. Spotting early red flags is essential. I’ve decided to help you out on this. 🚩 22 investor red flags to look out for 🚩 > Arrogant behavior > Highlife party culture mentality > No track record in your industry > Pressing you to make a decision > Slow response in communication > Slow in the due diligence process > No clear value-add besides money > Wanting to take >50% of the company > Very aggressive valuation negotiations > The VC worked only in financial services > Demanding lock-up exclusivity, during DD > Conflict of interest with other investments > No prior founder experience in the VC fund > Demanding unrealistic stake. Check trends > Wanting too many board seats or veto rights > Discouraging you to do due diligence on them > Not transparent in advance with LP constraints > No exploratory calls with your customers (if any) > Corruption proposals. Getting you into a scheme > Late for meetings and acting like nothing’s wrong > Bad feedback on them by their portfolio founders. > No transparency on process, criteria, decision-makers If you see any of these red flags, be cautious. Dig deeper. If things don’t look well, move on. It’s 8,400* of them in Europe alone. P.S. What red flags would you add? 🚩 Let's discuss in the comments. ⬇️ *According to Crunchbase

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𝐄𝐮𝐫𝐨𝐩𝐞’𝐬 𝐬𝐭𝐚𝐫𝐭𝐮𝐩 𝐬𝐜𝐞𝐧𝐞 𝐢𝐬 𝐛𝐨𝐨𝐦𝐢𝐧𝐠, 𝐛𝐮𝐭 𝐰𝐡𝐲 𝐝𝐨 𝐬𝐨 𝐟𝐞𝐰 𝐦𝐢𝐧𝐧𝐨𝐰𝐬 𝐛𝐞𝐜𝐨𝐦𝐞 𝐮𝐧𝐢𝐜𝐨𝐫𝐧𝐬❓     "Europe’s real problem is not seed capital. European startups raised $13.7 billion in the first quarter of 2024, up 5% year on year. The continent’s share of global VC reached 17% in 2023. Yet 60% of European venture capital was raised in just three EU member states and the United Kingdom.  The biggest challenge comes in the second stage of funding needed for minnows to grow into full-fledged unicorns. The US boasts a large pool of venture capital targeting later-stage startups." #startup #entrepreneur #venturecapital #investing #vc  

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Since there is currently speculation about whether the "Valley of Death" for European climate tech startups even exists (the investment gap in Series B): unfortunately it does, the data is clear. 📊 The numbers are based on the most extensive database about European climate tech companies (i3 Connect; part of the Cleantech Group). Read more about it in World Fund's whitepaper "Investing in Climate Tech - An Opportunity for Europe" 🌍 https://lnkd.in/ehJK2Twu 🌍

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