VC jargon, student investment funds and business and social etiquette in Paris
#21
This is the 21st edition of Sunday CET, a weekly curation of what we found interesting in the European investment tech landscape.
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1. More money in the market
2. How others are doing it
3. Interesting bets
4. Data, research, observations
5. What others think
1. More money in the market
🇨🇭Lakestar raised a total of $735 million for early- and growth stage funds that will invest mainly in Europe
🇩🇪 Speedinvest closed its third institutional fund at €190 million, to invest in European early-stage startups writing initial checks from €50K up to €1.5M.
🇪🇸 Nexxus Iberia has closed its first fund at €170 million, €30 million below the €200 million initially planned.
🇩🇪 Target Global has closed a new fund, Early Stage Fund II, at €120 million.
🇬🇧 Anthemis, a venture investment platform committed growth companies within the insurance industry, announced the $90 million first close of its latest discretionary fund, Anthemis Insurance Venture Growth Fund I (AIVGF I).
🇫🇮 Innovestor announced closing €30M for a B2B Industrial Technology Fund looking to make pre-series A to series A investments.
🇩🇪 BitStone Capital announced the first closing of its second venture capital fund.
2. How others are doing it
🇬🇧 An overview of dealflow, investment process and diversity of pipeline at Ada Ventures after the first month of live operations
🇬🇧 A multibillion Silicon Valley fund claims that it is allocating a hundred “partner days” to the UK this year, up from fifteen the year before. Here’s why.
🇸🇪 It was while playing poker that Susanne met her first major investors. She won games at tournaments for investors and tech start-ups, which helped to boost her profile - link
🇸🇪 A thread a bit technical if not familiar with the VC jargon, but interesting nonetheless
🇬🇧 Creator Fund is a student fund backed by Founders Factory to spot entrepreneurs before they graduate, with a focus on education start-ups. Students will be trained as VCs and given the authority to invest up to £30,000 per start-up.
It is a good idea - in the Nordics there’s a student venture fund called Wave Ventures which has been doing the same since 2016.
🇫🇷 Alven implemented a talent-sharing pool for its portfolio companies.
🇫🇷 Markets in everything:
Bonus
Hierarchy of Information Disclosure
3. Interesting bets
🇫🇮 Finland
developer of autonomous driving software for demanding and harsh weather conditions | $7 million | NordicNinja VC, ITOCHU
🇫🇷 France
platform for interactive help content | $3.5 million | Accel, angel investors
🇮🇪 Ireland
performance intelligence solutions for elite sports teams | Sony Innovation Fund
🇩🇪 Germany
wealth management fintech that uses software to analyze a wide variety of asset types | Deutsche Bank
🇳🇱 Netherlands
online energy management tool for hotels and commercial real estate | €1 million | Enfuro Ventures
developer of a software solution which streamlines customer requests into a shared team-inbox | €1.75 million | Peak Capital
🇳🇴 Norway
software developer of AR solutions for the education industry | We are human, Atomico
🇪🇸 Spain
developer of a digital application that handles VAT refund requests for purchases of non-EU tourists | €1.6 million | OneRagtime, Encomenda, angel investors
🇨🇭 Switzerland
developer of a booking and marketing software for any activity or event | €660k | Swiss ICT Investor Club, business angels
🇸🇪 Sweden
a digital music platform for choirs and educational organisations | $1 million | Bonnier Ventures, Provider Investment
operator of co-living housing | Wallenstam
🇬🇧 UK
deep search AI platform to source and exchange knowledge | £3.76 million | Nauta Capital, Cambridge Angels
no-code data science startup | £3 million | Fuel Ventures, Green Shores Capital, U+I, angels
B2B insurtech business and insurance operating system originally created for the MGA Homelyfe | £2.6 million | Outward VC, Notion Capital, TriplePoint, Downing Ventures
provider of data analytics and market intelligence for the oil industry | $2.2 million | Citi, GS Caltex
developer of a big data platform for sustainable mobility in emerging markets | Google, Toyota
4. Research, data, observations
🇪🇺 Plenty of dry powder for Europe and Israel VC funds
🇪🇺 A list with investment funds announced in the second part of 2019 in the Nordics.
🇩🇰 Heartcore launched a Consumer Technology Trends report.
🇪🇺 Mangrove Capital launched a Healthcare Reimagined report
🇬🇧 The more the merrier - JPMorgan to launch digital bank in UK
🇩🇪 The author of a new book exposes the widespread, historic corruption fueling the Deutsche bank’s downfall
🇪🇺 After the EU past week, the Vatican chimed in about promoting the ethical development of artificial intelligence (AI) and calling for regulation of intrusive technologies such as facial recognition.
🇪🇺 Doing business in Europe (via):
* Germans: You think they don’t like you, but they actually love you.
* British: You think they love you, but they actually hate you.
* French: You think they don’t like you, but they actually don’t like you
🇸🇪 Ikea will start selling plant-based meatballs that have a carbon footprint 25 times less than that of the group’s classic pork-and-beef ones as the flat-pack retailer seeks to slash its emissions by testing ideas such as renting out or refurbishing its furniture.
🇸🇪 Polestar 2 electric car prototype review: on track in Sweden
🇪🇸 A local news outlet calculated that Madrid accounts for 36% of investment in innovation in Spain. Whatever that means. :-)
Innovation is such a corporate word, any startup should be considered an “innovation” tbh, as they (allegedly) bring something new to the table.
Btw, I am very high on Madrid and Spain in general, think it is an under-rated European gem for startups and investments.
🇮🇹 Italy suspends the payment of taxes to alleviate the effects of coronavirus
Bonus:
A Pitchbook paper about the raise of the pre-seed investments
A Twitter list of 800 investment funds. Allegedly all active today.
Food Delivery Wars: 3 Takeaways From The UberEats, Postmates, Grubhub, DoorDash Ecosystem — How It Boomed, And Why It’s At A Crossroads
5. What others think
🇬🇧 Good thread about pre-seeds US vs UK
🇫🇷 Simon Kuper’s guide to business and social etiquette in Paris
🇸🇪 This post goes out to founders who feel misunderstood by people saying they ‘know what it feels like’’ to run a startup.
🇪🇺 Mangrove Capital’s Mark Tluszcz on the huge mHealth opportunity and why focusing on UX is key - link
Bonus
The below tweet reminds me of a VC friend of mine who says the best entrepreneurs are the ones that don’t need his money or advice.
tips on introducing sales quotas in a bottoms-up SaaS business
some of the best iPhone and iPad apps to collect and edit various bits of text
Private Equity and VC Managers ‘Amazed at How Damn Easy It is to Make Money’
Happy Sunday!
Thanks for reading 🙌
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