Marco Rodzynek

For 200 years, our economic growth has been borrowed from Nature. Now, the Nature Bank is empty... 🐼❌ ➡️ 3 reasons why investing in Nature is a strategic business necessity Nature Capital is the backbone of our economic model. Prof. Dr. Martin R. Stuchtey from The Landbanking Group (and previous founder of Systemiq Ltd.) joined me to go deep on the impact of investing in Nature. Watch our episode to understand why nature capital might be the most crucial asset class of the 21st century. Full episode here 👉 https://lnkd.in/difPBfBk #NatureCapital #NatureSwag

43

4 Kommentare

It's official! I am both excited and proud to share that HV Capital has published a guide to demystify ESG for startups. Why write it? Because #ESG is not just a feel-good gesture – it’s about driving value and setting #founders up for long-term success. Yet, there’s a lot of confusion about what it is and how to get started. The problem: ESG as we know it from public markets is not fit-for-purpose for startups. We hope that with this guide, our pragmatic and proportionate approach to ESG will help you get started. Interested in knowing more? Download it for free from the link in the comment section. You will find lists of free tools, useful tips and much more to help you turn ESG into a value driver. Thank you to our partners VentureESG and lfca.earth - Community | Leaders for Climate Action who push us to do better! PS: You've got ideas on how to improve the guide? Great! Leave your thoughts below, we all have got a lot to learn from one another!

186

35 Kommentare

Great insights from Adam Agius on what to consider when raising debt for a search fund buyout. Most relevant to the UK market, but a worthwhile read for all searchers. There's more debt capital keen to support search acquisitions than ever before, but approaching it naively can be very costly...

21

🇩🇪 The German economy is weakening, which is also due to the self-imposed austerity measures; harming the whole of Europe. What we need is exactly the opposite, namely an investment plan the likes of which Germany has never seen before: 1,000 billion euros by 2030. This would enable us to create the industry of the future and even help to overcome the climate crisis. My guest article in Capital Magazin: https://lnkd.in/eu5fX4MC (in German)

116

13 Kommentare

Three biggest learnings from a fundraising journey. Shared by Rainer Märkle, General Partner at HV Capital at EUVC 1/ Have a time box with a deadline attached. Have a defined horizon & create a clear plan. Have some urgency to get things done at some point. Execute very transparently and reliably. 2/ Stick to your narrative. But don't do it blindly. Tweak it when necessary. Adapt it. Don't let yourself be surprised by major changes. Keep focusing on delivering according to your strategy & plan. 3/ Fundraising is a marathon with many sprints. There are moments when you'll ask yourself - Why do I do this? Is it gonna work out? But don't get too negative during the down phases. Adapting and pivoting is part of our job. As it is for the founder of a company. How about you? What fundraising lessons have you learned? Join the conversation. 🔽 #venturecapital #angelinvesting #startupfunding #europe

5

1 Kommentar

🌟 Empower Women in Angel Investing with NuFund! 🌟 🚀 Join our Women in Angel Investing event for 2024! Dive into the world of angel investing and gain insights from five inspiring women who will share their journeys, lessons, and tips on how they became successful investors. 🔍 Did You Know? Only 2.1% of VC funding in the US goes to startups founded solely by women (source: (PitchBook, 2023). Furthermore, a mere 11% of investment partners at VC firms are women (source: (Harvard Kennedy School, 2024). These statistics reveal a clear gap and a critical need for more inclusive investment practices. 👩‍💼 By supporting and participating in events like ours, we can help bridge this gap and boost the presence of women in the investment community. Meet Angela Steinway , Caitlin Wege , Denise Saltojanes , Dr. Josephine Polich and Victoria Lakers who will share their expert insights and personal journeys in angel investing. These incredible women have paved their paths in the venture ecosystem, making significant impacts along the way. 🎉 If you are an inspiring angel investor or a female funded, don’t miss the chance to learn from these exemplary leaders. 💡 Sign Up Now: https://lnkd.in/gWiMnPDW 🌐 Why It Matters: Women-led startups are proven to deliver higher ROI, yet they face substantial hurdles in securing funding due to a lack of representation in VC. NuFund is committed to changing this narrative by empowering female investors and founders alike #AngelInvesting #WomenInInvesting #EmpowerWomen #FemaleFounders

24

1 Kommentar

***Update on Version One Ventures's thesis*** We back mission-driven founders who are early in new areas. As you know, Boris Wertz and I never stop challenging ourselves to be better VCs - it’s one of our core values! An important part of that work is developing a strong investment thesis, and evolving it as technology improves and markets change. Our current investment thesis, “backing mission-driven founders at the earliest stages,” was introduced back in 2020. It encapsulates our focus on backing a certain type of deeply passionate entrepreneur at an early stage when few people might believe in them.    Those words still hold true but they don’t explicitly spell out something we look for when evaluating an investment opportunity: timing. Investors always talk about “Why now”, and we do too, but the more interesting question for us is “Why not?”   Another way to ask it is “What’s possible?” We’re interested in those rare opportunities where a founder is creating a brand new category. These opportunities are fringy and emerging (some might call them crazy, weird, whacky or wild). There’s nothing obvious or inevitable about it. They’re building something the market hasn’t yet imagined and doesn’t fit neatly into an existing market category. But if they’re right, then the fringe picks up momentum and ultimately becomes a wave. So, going forward, we’re evolving our thesis to be even more explicit about the why now and why not: We back mission-driven founders who are early in new areas. Looking back, we predicted a few waves right and invested early into them: Vertical SaaS in 2012-2014 (e.g. Jobber) Crypto in 2016-2020 (e.g. Uniswap Labs) Climate in 2020-2021 (e.g. Patch) These days, the areas on our radar are a combination of “why now” and “why not”. AI – with a focus on AI-native products (e.g. Ada) VR/AR – especially with the recent launch of Apple Vision Pro (e.g REMIO) Crypto – yes, we’ve been investing in crypto since 2016, but it still feels early given that design space has recently opened with new L2 scaling, and the acceleration of mainstream use cases like payments or tokenization of real-world assets Climate/energy – we are looking outside of software and just invested in a materials company replacing lithium ion with sodium ion (as the world is moving towards electrification) Hardtech/biotech – we recently backed a company building the next illumina for proteins Building a startup is hard enough as it is, but pioneering founders need to build on brand new technology, find new markets, and convince everyone of the market need. BUT this is exactly who we, as venture capitalists, want to back. We look forward to meeting more of these courageous and bold founders creating transformational change!

131

8 Kommentare

What questions do we ask when looking to acquire a business? 🙋‍♂️🚧 - Is it a good business? ✅ - We look at historical returns on capital (EBITDA or Net Income divided by Capital required to run the business). 20% is good but one we just bought is 100%+. A capital-light business with high net margins leads to significant free cash flow to invest in growth and acquisitions. - Can we buy at reasonable valuation? ✅ - 10% yield on earnings is attractive, or operating earnings divided by enterprise value (EV). The S&P 500 trades at a 4-5% yield, bonds trade at 4-8% and small businesses can trade at 10-20% yields. The businesses we are buying trade at 25% yields with little to no growth. Our team believes we can grow net cash flow by four times (4x) in 5 years, making returns quite attractive. - How can we add value? ✅ - Do we understand the business and operations? Can our backgrounds, capital, network and partners add to business development, talent bench, accretive acquisitions and growth of the platform. We believe so. We will add experienced professionals to our Advisory Board to accelerate strategic growth. Join Us. 🛻🚜✈️ Email Matt@HillandaleAdvisors.com or Register for Private Business Roundtable. Hillandale Advisors Private Business Roundtable https://lnkd.in/ddfDABu4

25

5 Kommentare

Last month, we at World Fund announced our investment in Faircado. I’ve written a ‘why we invested in’ blogpost, looking at why we led the deal - and what excites me about this startup. Founded by the brilliant Evoléna de Wilde d'Estmael 🌱and Ali Nezamolmaleki, Faircado is an AI-powered browser extension that makes sustainable choices more accessible and mainstream for millions of consumers online. Our collective closets overflow with items we no longer need but that others could use. We need to embrace a circular economy, and Faircado can help us break this ineffective cycle - perpetuated by awful brands like SHEIN - by helping us make better buying decisions online. You can read the full piece here: https://bit.ly/4coXxYy

98

7 Kommentare

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  

11

FUNDRAISING DIARY 6️⃣  "Not our Investment Focus" Statistics: the most frequent reason for investors' rejection at the moment is "The idea is great and the project looks promising. But this is not our investment focus" We decided to clarify which sectors investors may find investment in Mashaverse relevant (and then profitable) 👇 1️⃣ CRYPTO AND WEB3 For crypto and Web3 investors, Mashaverse offers exposure to a disruptive project at the intersection of entertainment and blockchain. Mashaverse's roadmap includes moving to its own Web3 platform and teaching children how to interact with blockchain. This is a long term strategy that will lead to mass adoption of blockchain and cryptocurrencies 2️⃣ GAMING For gaming investors, Mashaverse presents a compelling opportunity. With over 840,000 daily active users, 7 million monthly active users, and more than 570 million game downloads worldwide, Mashaverse boasts a large and engaged audience. Its innovative approach to combining entertainment with blockchain technology is poised to disrupt the gaming industry, offering investors significant growth potential and diversification. 3️⃣ EDTECH For EdTech investors, Mashaverse is a leading innovator in educational technology, offering a captivating platform that combines entertainment and learning. With features like career guidance and talent search, along with a projected 23 million user registrations, Mashaverse presents a promising investment opportunity in the booming EdTech market. 4️⃣ AI Through sophisticated data analysis, Mashaverse adapts educational materials and game mechanics to match each user's unique preferences and learning styles, enhancing engagement and skill acquisition. This cutting-edge integration is backed by a robust infrastructure, that will ensure Mashaverse as a frontrunner in AI-driven education. 5️⃣ NFT and METAVERSE With plans to integrate NFTs into its gaming experiences and establish a versatile metaverse platform, Mashaverse aims to capture a share of the growing metaverse market, projected to reach $626.5 billion by 2030. With over 570 million game downloads worldwide and a daily viewership of 20 million, Mashaverse offers a compelling investment proposition for those interested in the future of digital collectibles and immersive virtual worlds. As you can see, the Mashaverse lies at the intersection of five major - growing, emerging and promising - investment sectors. This combination multiplies our chances of X5's success. 👉 Learn more. Discover our Pitch Deck: https://lnkd.in/dkA52QXT #pitch #investors #invest #investments #future #digital #nft #metaverse #ai #edtech #gaming #crypto #web3 #pitchdeck

9

2 Kommentare

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

590

92 Kommentare

I’ve just found a video of Marc Andreessen outcompeting other VCs in startup funding rounds with their new $7.2bn fund. In all seriousness the split and timing of their mega fund structure is interesting. 2/3 focussing on infrastructure and growth. Rest - the uje. Except for one phrase that I think is just awesome - they’ve allocated $600m to ‘American Dynamism’. I almost don’t care what that means. I just love the notion and will be borrowing the theme for our UK future fundraises. UK Dynamism is long overdue. The United States of Freedom leads the way for our ecosystem and they’re suggesting back into growth kids. Yes inertia. Yes this will take some time to deploy! But back into growth all the same. Where as is the norm in startup land - timing is everything. Congrats to A16z. I’m not in the slightest bit envious. #venturecapital #vc #startups #investing #startupfunding #oldwhitemen #lps #fundraising #vcfunds #usausausa

148

33 Kommentare

💭 #VC Confused or skeptical about Sustainability or ESG in VC? Especially if you focus on innovation and returns, not impact? Why should you bothered when your startups are so small anyway? Just a distraction? Is it a strategy topic, a fundraising lever, a portfolio problem... even for a non-Impact VC fund? What works? What doesn't? How to avoid greenwashing? What about commitments? And backlashes? Isn't ESG reporting enough? - Any question is valid, so let's talk about it! ---> I am offering 4 new slots of Dedicated Office Hours for VC Partners <--- 💭 Why? To help VC investors make progress in Sustainability & Impact by asking any question or concern, as #TimeIsNow for all of us... but even more so for the ones who source, select, finance and support the emergence of decisive technologies and innovation. Whether for adaption, mitigation, fair transition, etc. 💭 How? You're familiar with the office hours drill, so no need for an elaborate explanation: 30-minute slots, free of greenwashing or BS, one-on-one. No prep needed, come as you are. 💭 What to expect after the session? - Enhanced clarity on your chosen topic, - Perhaps more questions (a positive indicator in my book), - Hopefully, a realization or two as we engage in discussion, - A handful of unconventional ideas and tactics - consider it my distinctive touch. Again: any question is valid, whether practical or foundational. As long as you sincerely want to discuss the question beyond a cookie-cutter approach #NotThatKindOfGirl 💭 When? 4 slots available Monday May 20th, between 3 and 5pm CET. 💭 Where? Online - expect a calendar invite post-confirmation. Questions? ---> Fire them my way :) Interested? ---> Send me a DM -- Super grateful for the kind words below <3 "The clarity that just one session with you can bring is exceptional. So grateful to have been at the receiving end of one of these" Yonca Braeckman (founder Impact Shakers - European VC with a systems-view and authentic impact at its core) "Definitely recommend! 🤩 #oneofakind opportunity to get real feedback on everything from investment thesis / scope to impact approach and execution. 🔥 What I definitely like: #thinkingoutsidethebox. Imène has a natural talent to uncover what makes you unique and bring it into the perfect message towards investors and startups alike... " Sabine Flechet (co-founder Masawa - European VC focused on mental health, proponent of "nurturing capital") "Rare opportunity ! Imène you bring a unique combination of no BS, strategic advice and operational approach, always pointing on what bring real sustainable value. 4 lucky happy few !" Isabelle Albert d'Argenson (Climate & Regeneration, ex COO at Satgana) "Get ready for some insights, market intelligence.and practical distinct feedback… 🏎️🏁" Florence His 🐬(Global VC / impact fundraising expert, among many other hats) Photo Credit: IPEM #SustainableFinance #ImpactInvesting #InvestInWomen #TimeIsNow

42

Getting ready for an upcoming workshop on angel investing led me to the Angel Next Door Podcast episode on 2024 trends (sharing the link in the first comment 👇). Here are a few key takeaways: 🔍 With AI technology evolving rapidly, it's essential to stick to the basics when conducting due diligence. Asking fundamental questions about the business model, target market, sales cycle, expenses, use of funds, deal terms, valuation, risk assessment, and exit strategy is crucial. Quality data will be a game-changer in evaluating AI companies effectively. 💡 The future is looking brighter for tech industry, and it’s a great time to be an angel investors. Angel investment was the most resilient asset class in 2022, as well as very consistent — capital invested was down but not dramatically different than VC, capital invested per deal and capital invested annually per angel group was similar to previous years. We stay the course in 2024. 🌍 Angel world is changing — Gen Z investors will seek a more tech-savvy approach to investing compared to traditional angel investors. Gone are the days of in-person dinner meetings; instead, transactions will be conducted swiftly and electronically through apps on mobile devices. If you want to be a part of this transformation, join us in ICLUB: https://lnkd.in/dWdsCxp9 #AngelInvesting

17

1 Kommentar

𝗛𝗲𝗿𝗲'𝘀 𝗮 𝘁𝗲𝘅𝘁 𝗜 𝗴𝗼𝘁 𝗳𝗿𝗼𝗺 𝗺𝘆 𝘁𝗲𝗮𝗺𝗺𝗮𝘁𝗲 𝗮𝘀𝗸𝗶𝗻𝗴 𝗮𝗯𝗼𝘂𝘁 #venturecapital 𝘀𝗲𝗰𝗼𝗻𝗱𝗮𝗿𝗶𝗲𝘀 ... ... which led me to explain a bit about my personal history with them, and how they work. Here's what I told him 👇🏻 (which is #notfinancialadvice of course) 👉 I've personally sold common in secondary transactions twice (2 different companies as well) to existing investors who already owned a bunch of preferred + common in said companies. In one case I was approached by an existing investor, and in the other I approached the existing investor. 👉 Our first Creator Science Syndicate deal was a secondary transaction (we created an SPV to invest in a vehicle that had common stock in ConvertKit) 👉 For early stage companies, because there is still so much risk + the common stock is not really tradable, there’s no market for it. Whereas for later stage companies that are performing well, the common stock's inherent value starts to get very close to that of the preferred stock. So you will see the secondary market price for common begin to trend much closer to that of the preferred. 👉 Secondary transactions can be done directly with existing individual shareholders, or with firms/entities (eg SPVs, investment firms). 👉 Some very reputable firms have made venture secondaries the crux of their business model. Industry Ventures comes to mind. Anything else folks should know about secondaries? Leave a comment below!

5

🇪🇺 The results of the EU elections are horrible (for all of us and in particular for investors and founders) given the strong gains made by far-right parties, especially in France and Germany: In a world that is increasingly leading to a cold war between 🇺🇸 and 🇨🇳, Europe must close ranks and stick together as quickly as possible. The parties that have started to gain the upper hand want to divide and weaken Europe. What makes Europe strong is democracy, the rule of law, diversity, migration and borderlessness. The far-right parties aim to do exactly the opposite. As founders and investors, we should be aware that our successes are based on precisely these five pillars: democracy, the rule of law, diversity, migration and borderlessness. And we should realise one more thing: In a world of cold war between China and the US, we must consider the geostrategic importance of technologies for Europe - also and especially to mitigate financial risk. It is not anymore about "only" managing the Green Transformation but we need to get it done as independently and autonomously as possible as Europe, while strengthening our resilience to defend our democracy, the rule of law, diversity, migration and borderlessness. The stakes are high. Perhaps even everything we have managed to build since the Second World War is at stake. I am worried. What will help is a new level of Corporate Political Responsibility (CPR). As entrepreneurs and investors, we can't stay out of politics because "we're just doing business". With every business and investment decision, we are doing politics, whether we like it or not! Again: It is time for a new level of Corporate Political Responsibility! A few entrepreneurs, investors and I have already taken the first steps; we will report back soon. I am seriously concerned. 🇪🇺

251

58 Kommentare

In a recent Sifted article, I share thoughts on emerging managers esp. Solo-GPs, here's what I think 👇🏽 https://lnkd.in/eYx7h5Qv I’m a solo-GP building OpenseedVC, here’s what some think this means; 🔻That there is key-person risk 🔻That there is little accountability or governance 🔻That it is a one-person show Here’s what it ACTUALLY often means; 👇🏽 ✅ We've set up governance that foster accountability, not bureaucracy ✅ As a fund, we have a dizzying depth of complementary skillsets ✅ We build conviction and move quickly; critical for early stage ✅ We are process geniuses, automations and efficiency is in our DNA ✅ We have a lean, mean team optimised for high for efficiency There is no "founder-like fund" quite like a Solo-GP emerging manager. For us at OpenseedVC, we invest up to $150k at the angel stage, and are flexible. We can lead your angel round. We can follow if the terms work for us. We don't take board seats. Whatever it is, we are first investors in ambitious and experienced operators just as they start their technology companies! We are founders ourselves, and have parallel experiences to the most ambitious and resilient founders, and this is ultimately superpower 💥 Solo-GPs are outliers, and in the business of #VC #venturecapital, outliers signal potential for outsized opportunity. #operators #openseedvc #europe #africa #soloGPs

77

3 Kommentare

“VC funding is now a rare and expensive commodity, and founders are being encouraged to focus again on business fundamentals and capital efficiency. As a result, Venture Debt is now a topic of discussion in most Board meetings, and almost every Startup that’s raising institutional capital (seed to Series D) is thinking about Venture Debt as a meaningful addition to their capital stack.” These are timely and important conversations to be had by founders, management teams, and early investors. And it’s encouraging to see demand for debt continue to increase. But it’s not hard to see why. What’s happening in the industry now can be attributed to a few factors: ✔ We are experiencing a recalibration from the “easy money” era of high valuations. Many venture equity providers are now essentially hoarding capital and waiting for cap tables to self-correct to reasonable levels. ✔ Equity is expensive, especially for late-stage companies. Venture debt has become a more compelling alternative to equity dilution for companies that want to avoid a down round. ✔ Founders are realizing that venture debt is not rescue financing. Rather, companies with consistent revenue and a clear path to profitability are increasingly seeing debt as a means of propelling further growth. While no one can predict the future, we’re very optimistic about the role that debt can (and will) play for late-stage startups throughout the remainder of the year and beyond.

39