Björn Jopen

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

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💸 ➡️ 🧠 Time to dive back into some REAL work, after a fun week chasing LP in Berlin. Look forward to connecting with AI experts, founders, and corporates to discuss "Autonomous Transformation" for legacy industries. #ai #automaton #aisummit

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🚨 We did it again! We've created the ultimate Side Event List for this week's SuperVentures & SuperReturn and TOA Berlin. Plus, we're giving away Tech Open Air tickets and guest list spots for the biggest VC Party, organized by Join Capital, EUVC , Isomer Capital and others. 𝐑𝐞𝐚𝐝 𝐭𝐨 𝐭𝐡𝐞 𝐞𝐧𝐝 𝐨𝐧 𝐡𝐨𝐰 𝐭𝐨 𝐠𝐞𝐭 𝐭𝐡𝐞𝐦👇 What is the Superventure / SuperReturn conferene? How Amy Lewin would describe it: "SuperVenture is the Berlin conference where VCs go to fundraise and catch up with their LPs". Kinda like the definition! And let me say this! The Side Event's this week are on fire 🔥. Here are my top 3 + 1 event from the 45+ Event List: - Diversity Drinks at the stunning Fotografiska space. Networking with a purpose! Organized by Auxxo Female Catalyst Fund, the Evangelistas, Out Investors and identity.vc I Backing LGBTQ+ Entrepreneurs - JOIN CAPITAL is doing it again, and is running the biggest VC Party this Wednesday. We have limited tickets available for FOMO Insider Subscriber. - Cherry Ventures & Felix Capital are coming together to run a networking event at the coolest flagship stores Berlin, at Highsnobiety - FOMO (fearofmissingout): HIT x Yoga meets Rooftop Session, Thursday, 8 am start. ​Amidst a busy week with Super Ventures, Super Return, and TOA, we're creating a sanctuary away from the typical networking and business noise. Link in the comments. Here’s how you can win: - 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 45+ 𝐒𝐢𝐝𝐞 𝐄𝐯𝐞𝐧𝐭 𝐥𝐢𝐬𝐭: Subscribe to FOMO Berlin and comment below. - 𝐉𝐎𝐈𝐍 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐕𝐂 𝐩𝐚𝐫𝐭𝐲 𝐆𝐮𝐞𝐬𝐭 𝐋𝐢𝐬𝐭: If you're in the VC, LP, EP, GP scene, comment below your favorite Berlin VC fund. - 𝐅𝐫𝐞𝐞 𝐓𝐞𝐜𝐡 𝐎𝐩𝐞𝐧 𝐀𝐢𝐫 𝐭𝐢𝐜𝐤𝐞𝐭: Comment below your favorite event and tag the event organizer & FOMO (fearofmissingout).

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📢 Some major final fund closes have been announced this week, despite a relatively volatile market. Here are some highlights: 🇨🇭 Lakestar announced an over-subscribed round for its early stage fund Lakestar Early IV with a final close of EUR 280 million and EUR 320 million for Lakestar Growth II. 🇺🇸 Andreessen Horowitz just closed $7.2 billion for a new feeder Master fund, beating its own target. It will now be investing by thematics, rather than by stage. 🇺🇸 Toyota Ventures closed a total of $300m across Toyota Ventures Frontier Fund II and Toyota Ventures Climate Fund II, putting total AUM since inception at $800. 🇺🇸 New Mountain Capital just announced they have closed their seventh flagship buyout fund, with a close of $12.4 billion, surpassing the fund’s $12 billion target. 🇬🇧 Magnesium Capital LLP, a London-based buyout private equity outfit, has closed the oversubscribed inaugural Magnesium Capital I at EUR 135, exceeding the EUR 100 million fund target. They will be investing between EUR 15 million to EUR 50 million in energy transition companies, most notably energy production, grid resilience, and resource efficiency. 🇨🇦 ambit partners has announced the closing of $20 million Ambit Partners Fund II. This is part of a new breed of search funds such as Novastone Capital Advisors. #privateequity #venturecapital #privateassets #LPs #fundraising

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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

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Without Venture Capital, the US economy would be half its size (public markets). Europe continues to underappreciate the impact that VC has on the broader economy. Next to its big brother Private Equity, venture capital is often discarded by larger investors as “not in our focus”. And I get it - as an asset class it has to further mature. But already today its impact is massive. According to a recently updated paper of researches at UBC and Stanford, Venture capital-backed companies account for 41% of total US market capitalization and 62% of US public companies’ R&D spending. Among public companies founded within the last fifty years, VC-backed companies account for half in number, three quarters by value, and more than 92% of R&D spending and patent value. In Europe, data is less readily available but various sources point to it being in the 20-25% range - obviously less but still quite significant. What other data do you have on this point?

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Angel Invest Coaching #6 Our View on the Macro. Summary: Q3 2023 was the bottom in the private tech market. Now on the upswing, good visibility of behaviour and prices.

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𝐀𝐚𝐭𝐮 𝐇𝐨𝐫𝐮𝐬: "𝐀𝐭 𝟐𝟑, 𝐈 𝐝𝐫𝐞𝐚𝐦𝐞𝐝 𝐨𝐟 𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐰𝐢𝐭𝐡 𝐓𝐨𝐧𝐲 𝐑𝐨𝐛𝐛𝐢𝐧𝐬. 𝐒𝐞𝐯𝐞𝐧 𝐲𝐞𝐚𝐫𝐬 𝐥𝐚𝐭𝐞𝐫, 𝐈 𝐥𝐞𝐝 𝐡𝐢𝐬 𝐜𝐚𝐦𝐞𝐫𝐚 𝐭𝐞𝐚𝐦." My guest for the next episode of the Venture Growth With Leon Eisen Podcast is Aatu Erik Horus, Aatu is a famous producer of AI-powered media solutions in Europe, US, and Asia and a managing director of the Industry Rockstar Films. His extensive global experience over the past decade includes collaborations with renowned personal brands such as Les Brown and Tony Robbins. Aatu has a proven track record in producing impactful brand films and crafting AI platforms that transform B2B sales and marketing strategies. With fluency in English, Mandarin Chinese, Thai, Finnish, and Nepali, Aatu bridges cultural divides, ensuring his team's work resonates globally. Operating across Nepal, Thailand, Venezuela, and Finland, with Bangkok as its hub, Aatu excels in creating immersive, educational, and audiovisual experiences that merge cultures and break down international barriers in media. Aatu helps businesses to create awe-inspiring experiences that immerse people into your company's brands and culture. 👉 Key takeaways: "I don't think you really understand any culture truly before you understand at least somewhat their language. Through languages, I got cultural understanding and through cultural understanding, you see how the world works." "It proves that any dream if you think about it and want it, you can realize it. You can create your future by yourself by dreaming about it." "AI drastically influenced my business; every step of the process of commercial production now includes AI. It makes things faster and allows you to focus more on the creative aspect instead of manual technical work." "We build platforms and apps for public speakers and educators, making them AI-powered to serve their audience better." "Instead of just watching videos in a course, our interactive online courses involve the user's input, making the learning process more engaging and delivering tangible results." "I don't believe in convincing clients. Not everybody needs what I offer. If somebody comes to me with a problem, I assess if it's a problem I can help them with." "The perception that the public has about you before they get in front of you matters greatly for selling high-ticket products. Branding is often underestimated but crucial." "Market your personal brand, not a corporate brand. Be yourself, talk about your weaknesses sometimes, and be honest. People can detect fakeness from miles away." ♻ Repost it to help others. You can watch the full episode by clicking on the link in the comments 👇 #filming #marketing #producing #courses #video #brand #leonesien

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Don't forget your home market. 📍 Advice from Daniel Keiper-Knorr, Founding Partner at Speedinvest. Speedinvest got more than half of its money from Austrian investors. They wouldn't have predicted such strong domestic support. Your home market can be a hidden gem. Don't neglect it in your fundraising efforts. Global markets are tempting but focus matters. If a specific region isn't delivering, don't be afraid! Shift your focus and target more receptive areas. Resources are precious – use them wisely! What other tips do you have to navigate the fundraising journey? Join the conversation below. #venturecapital #angelinvesting #startupfunding #europe

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Is Germany missing out by not backing its tech champions? 🤔💭🚀 Germany is a global leader in innovation with over 1000 companies driving disruption worldwide. However, many promising startups struggle to scale internationally due to a lack of large local funding. When growth-stage companies have to look abroad for investment, it puts them at a competitive disadvantage versus overseas rivals. With limited local options, more may feel pushed to relocate rather than stay to build in Germany. While American tech companies have abundant access to both private and public investment, including VC funding and IPOs, financing for later-stage German startups tends to lag. On average, US tech companies raise significantly more money per funding round compared to their German counterparts.  📈 For example, in 2021 the average Series B round for a US startup was $35 million, whereas for a German startup, it was only $10 million. This financing gap has real consequences. With more funding, American tech scaleups can achieve stronger growth and international expansion faster—and they can also offer higher salaries to attract top talent 🔝 on a global stage. As a result, many promising German founders end up relocating to Silicon Valley to access resources and continue building at the scale required to succeed in a global market. 🌎 We believe in leading great entrepreneurial visions sustainably into the digital future—D11Z can provide a network to enable startups to have better later-stage options. So how can we inspire our own investors to back the country's burgeoning tech champions and help them scale at home? I'm interested in your thoughts on strategies to close the late-stage funding gap. #D11ZVentures #FutureOfTech #VCInsights

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70+ years of venture capital experience in one row! Great panel with my four superstar guests at the Crypto Asset Conference at Frankfurt School. On the panel today, I had Alex von Frankenberg from HTGF | High-Tech Gründerfonds, Olaf Hannemann from CV VC, Dominic Briggs from Blockwall, and Heinrich Zetlmayer from yabeo  . In case you missed it, stay tuned for the video recording, which we will post soon. #cac24a #cryptoassetconference #frankfurtschool #venturecapital #web3 #blockchain #bitcoin

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🚀 UVC Partners: Driving Europe's Leading Deeptech Startup Ecosystem 🌍 Munich’s UnternehmerTUM stands out as a powerhouse in Europe’s startup scene, largely thanks to UVC Partners, a key player providing vital early-stage funding for B2B deeptech, climate tech, software, and mobility startups. 🚗 A Hub for Innovation and Growth📈 Founded within UnternehmerTUM in 2011, UVC Partners has grown significantly, helping to transform the funding landscape for European startups. 💰Initially starting with a modest €25 million fund, UVC Partners now manages around €400 million in assets and is currently raising its fourth fund, targeting €200-250 million. This impressive growth reflects the firm’s success in identifying and nurturing startups with the potential for world-changing innovations, such as space technology platforms and flying taxis. A Changing Funding Landscape💰 The shift in funding dynamics is stark. In 2012, deeptech companies across Europe received a mere €400 million. Fast forward to 2023, and German deeptech startups alone secured €1.6 billion, with the German government announcing a €1 billion fund for deeptech and climate tech growth-stage companies. UVC Partners has been at the forefront of this evolution, closing its third fund generation in 2021 with €260 million raised across two funds. Strategic Connections and Deep Expertise🤝 UVC Partners benefits from its close ties to UnternehmerTUM, leveraging a vast network of corporates, Mittelstand companies, universities, and government figures. This network provides startups with unparalleled access to industry leaders and policymakers, a significant advantage highlighted by many portfolio companies. “We have a unit called Value Creation that focuses on customer creation and knowledge,” explains UVC partner Benjamin Erhart. This unit taps into UnternehmerTUM’s business relations, offering startups tailored introductions to industry heavyweights when needed. Success Stories and Flagship Investments UVC Partners has a strong track record of successful investments and exits. Notable investments include: Flix, Isar Aerospace, Vimcar, FAZUA, Aleph Alpha, Reel The Future of European Deeptech🤖 UVC Partners' commitment to fostering innovation and connecting startups with essential resources has solidified its role in Europe’s leading startup ecosystem as an early-stage backer of B2B deeptech, climate tech, software, and mobility startups that are working on potentially world-changing innovations, reported Sifted. ✅ Looking to raise capital for your #fund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE 🌟 #VentureCapital #Startups #Deeptech #Innovation #Entrepreneurship #UVCPartners #TechFunding #MunichTech #ClimateTech #EuropeanStartups

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20 years in VC. Going from CVC to VC. Here's the story of Rainer Märkle, General Partner at HV Capital. 1/ Engineering roots: His journey began in electrical engineering. Working on exciting projects like mobile and fiber communications. 2/ A twist of fate. By chance, he landed a role at a corporate VC arm of Siemens. Investing in the very tech I helped build. 3/ VC journey: That's where the VC journey began! He discovered a passion for nurturing innovation. So, he knew his mission was to help promising startups. What inspired your VC journey? Share your thoughts with us in the comments. #venturecapital #angelinvesting #startupfunding #europe

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Top tips for angel investors for more international deals. From Eva Spannagl, Managing Director of Climatos. The easy part: 👉 Build connections with international investors. 👉 Reach out proactively to international teams. 👉 Use Linkedin The tough one: 👉 Define your unique value proposition for this type of founders 👉 Preach what you want to do a thousand times. Talk about what you want. And the actions will follow. What do you think? What other tips will you add to the list? Join the conversation. #venturecapital #startupinvesting #angelinvesting #europe

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The 15th edition of Athletico Ventures's newsletter is out. A selection of celebrity investments and venture capital contents published over the last few months. > #Nadal jumps into startup world; Nico Rosberg and Ryan Reynolds are killing it > Podcast recommendation: "Startup Europe - The Sifted Podcast" by Sifted editor Amy Lewin (esp. the episode with Roxanne VARZA and Sriram Krishnan) Links in comment.  #athleteinvestors #startupfunding #venturecapital

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Navigating Seed-Stage Fundraising: Key Insights Understanding seed-stage fundraising is crucial for any startup founder. Here’s a concise look at the landscape, based on data from 1,271 priced seed rounds between April 2023 and March 2024. Top Players: - SaaS leads in deal volume, showing strong investor interest. - Healthtech and Fintech are also in the spotlight, with Healthtech now surpassing Fintech. High Valuation and Cash Raised: - HR startups stand out with the highest median pre-money valuation and cash raised. - Transport and Renewable Energy also show high valuations, indicating significant potential. AI’s Impact: - AI influences multiple sectors and would top every chart if tracked separately, highlighting its transformative potential. Benchmarks: - Median pre-money valuation: $13M. - Median cash raised: $3M. Industry Clusters: Analytics, SaaS, and Healthtech form significant clusters around median values. Biotech and Cybersecurity also perform strongly. Lagging Sectors: DTC Retail, Food, and Personal Products lag in both valuation and cash raised, potentially exploring alternative funding methods. Deeper Insights: -Industry Disparities: Significant variations exist, with Healthtech showing increased investor confidence. -AI’s Dominance: AI offers diverse investment opportunities across industries. Decline in Seed Volume: -Most sectors see reduced seed funding, except for AI. -Alternative Funding Strategies: Some founders are exploring revenue-based funding instead of traditional VC routes. Takeaway: Navigating the seed-stage funding landscape requires strategic understanding and adaptability. This evolving environment offers unique opportunities and challenges for both investors and founders. If you're on this journey, let’s connect. I’m here to help you navigate these complexities and improve your chances of securing funding. #startups #entrepreneurship #venturecapital #investing #finance #crossborder #inovexus #startup #VC #earlystage #angleinvestor

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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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(Open source) software is eating the world. Open + Free + Commercially Sustainable = Paradox? At Serena, we wanted to understand better the relation between Open Source values and commercial success - which is key for entrepreneurs, customers, VCs and, more importantly, projects' sustainability. So, being data-driven as we are, Matthieu Lavergne put together our first Commercial Open Source Report - together with the Serena team and with the help of awesome contributors such as JB Onofré from the Apache Software foundation, open-source entrepreneurs such as OpsMill's Damien Garros, Kotzilla's Arnaud GIULIANI and Miguel Valdes Faura, IT-law expert Gilles Rouvier and of course our very own Bertrand Diard who co-founded open-source and Nasdaq-listed Talend. There's a ton of insights in there that hopefully will help navigate, benchmark and understand COSS. Some takeaways that I find exciting: - VC funding of COSS has steadily been growing. - US unsurprisingly dominates VC-funding of COSS but Europe is on the rise. But there's also a lot to learn when looking at software categories, correlation between funding and success metrics, impact of the license models, relationship with foundations, etc... It's free and accessible here: https://lnkd.in/d5uBvjAU

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