Wij willen met u aan tafel zitten en in een openhartig gesprek uitvinden welke uitdagingen en vragen er bij u spelen om zo, gezamelijk, tot een beste oplossing te komen. Oftewel, hoe kan de techniek u ondersteunen in plaats van dat u de techniek moet ondersteunen.

Project A, the Berlin-based VC, just raised a new $ 200 million fund (€180 million) to continue backing European startups at Seed and Series A stage.

In addition, the firm — whose investments include WorldRemit, Catawiki, Voi and Uberall — announced it will now have a presence in London and Stockholm in order to put people on the ground in what it says are “two of its favorite ecosystems.”

What better time, therefore, to catch up with the team at Project A, where we talked investment thesis, why Stockholm and London, and the increasing interest in Europe from U.S. LPs and VCs. Other subjects we touched on include diversity in venture, and, of course, Brexit!

TechCrunch: You last raised a fund in 2016, totaling €140 million, what changes have you noticed since then with regards to the types of companies you are seeing and the European ecosystem as a whole?

Uwe Horstmann: Entrepreneurs definitely matured a lot over the last few years. We see more and more of serial founders who combine drive with experience delivering great results. We also noticed an increase in more tech / product-centric and in B2B models.

This doesn’t come as a surprise as the market for consumer-oriented models started developing much earlier and is now reaching its limits after a few years. Many entrepreneurs gained experience in the Old Economy or have been consulting companies for a few years, learned about the struggle with products and processes first-hand and developed solutions specifically tailored to the industry’s needs.

We also notice a rise in professionalism in company setups and a higher ambition level in founding teams. This is probably also due to a more professional angel and micro fund scene that has developed in Europe.

TC: I note that you have U.S. LPs in the new fund, which I think is a first for Project A, and more broadly we are seeing a lot more interest from U.S. VCs in Europe these days. Why do you think that is, and how does this change the competitive landscape for deal-flow and the ambition of European founders?

Thies Sander: Having our first U.S. LPs on board makes us proud. LPs have noticed that European VC returns have really picked up during recent fund cohorts.


TechCrunch

Valo Ventures, a new firm focused on social, economic and environmental megatrends, has closed on $ 175 million for its debut venture capital fund.

The effort is led by Scott Tierney, a co-founder of Alphabet’s growth investing unit CapitalG, as well as Mona ElNaggar, a former managing director of TIFF Investment Management and Julia Brady, who previously worked as a director at The Via Agency, a communications workshop.

Google is like being a kid in a candy store,” Tierney tells TechCrunch. “It’s a great place to be. For me, I thought, ‘alright, I’ve been here for seven years, I have this opportunity to create my own fund and be more entrepreneurial and take all the learnings I was fortunate to have inside of Google and apply them.’ ”

Tierney joined Google in 2011 as a director of corporate development after five years as a managing director at Steelpoint Capital Partners. In 2013, he co-founded CapitalG, where he served as a partner for the next two years. He completed his Google stint as a director of corporate development and strategic partnerships at Nest Labs, a title he held until mid-2018.

The Valo Ventures partners plan to participate in Series A, B and C deals for startups located in North America and Europe. Specifically, Valo is looking for businesses solving problems within climate change, urbanization, autonomy and mobility. 

The goal is to bring an ESG (environmental, social and corporate governance) perspective to venture capital, where investors infrequently take a mission-driven approach to deal-making. To date, Valo Ventures has deployed capital to Landit, a career pathing platform for women, and a stealth startup developing an AI platform for electricity demand and supply forecasting.


TechCrunch

Created by R the Company. Powered by SiteMuze.