Over 400 venture capitalists ('VCs') responded to the survey this year and shared their perspective on the underlying dynamics of the market as well as their experience since the start of the pandemic.
This first section provides an overview of the VCs that took part in the survey, segmented by their latest closed fund size, their preferred investment stage and their firm's journey to date.
The recycling of entrepreneurial and operator talent is a well-known accelerator of the flywheel that drives value creation and positively transforms the mindset of the best talent within start-up communities. The recycling of investor talent is also an important component in helping to broaden and deepen the pool of investors ready to back new generations of founders. As the European ecosystem matures, it’s now increasingly evident that this important component of the European tech flywheel (hyperlink to flywheel imagine) is also spinning faster and faster - to the benefit of founders and LPs all across Europe.
Similar to founders, VCs had to adapt quickly to the pandemic. From sourcing investment opportunities to evaluating deals, investors had to rethink and reshape their internal processes.
Europeans are still too locally focused. Launching a company focused on just one European country is sure to make you vulnerable to your US competitor. This was as true for social networks a decade ago as it is for delivery or mobility startups today. I'd encourage all European startups to think globally from day one. I've raised money in the US in 2008 and in 2018, while being based in Europe. I've seen a complete 180 when it comes to [US investors'] attitude. As long as founders have a global mindset, they actively are looking to invest in Europe. Besides: on Zoom, nobody knows you're a European.