Natalia Kolupaeva, MBA

I am pleased to see Alitheia IDF (AIF) highlighted by Jessica Espinoza, CEO of 2X Global, at the SuperReturn Emerging Markets 2024 event in Amsterdam! Jessica showcased AIF as an example of how Gender Lens Investing (GLI) strategies drive commercial and social impact. Since closing AIF (a 2X Flagship Fund) at $100M in 2021, we have invested over $50 million in 12 companies, with 75% women ownership. As the first and largest GLI fund in Sub-Saharan Africa, we developed the industry’s first comprehensive GLI toolkit, inspiring broader adoption across private equity. Our commitment to putting women as key success drivers across the investment value chain has become a model for the industry, inspiring others. It’s rewarding to see AIF’s impact and approach recognized as a model for sustainable, inclusive investment in emerging markets. Check out the slides from Jessica’s presentation for more insights: https://lnkd.in/dpGiraPU #GLI #ImpactInvesting #SustainableFinance #AlitheiaIDF #SuperReturn2024

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👉An interesting overview #BusinessAngels #VentureCapital #LPs #GPs #Innovation #InnovationManagement #CorporateInnovation #CorporateStrategy #DigitalTransformation #StartUps #StartusInsights #InnovaticGroup InnovaticGroup. Create the Future Now

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New fund Modelling in VC workshop. On Assumptions Sheet Construction. Join us, together with Marc Penkala, on May 16th. Check it out if you are: 📌 ​Emerging Fund Managers 📌 VCs in Established Fund 📌 Family Office employees 📌 CVC employees 📌 High Net Individuals investing in venture capital funds. We've prepared a 2-hour educational session on all things related to: ✏ How to build a comprehensive assumption sheet ✏ How to analyze different assumptions ✏ How assumptions influence fund performance ✏ The effects of strategic levers on fund outcome ✏ Hands-on exercises where you'll work collaboratively ... and more that you can discover here. https://buff.ly/49HK2Bk #venturecapital #fundmodelling #familyoffices #vcfunding

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The alchemy of the venture capital process, in which investments are catalyzed over a number of years into a successful IPO or a big M&A deal, is under pressure. Investors are demanding to extract returns from VC firms and startups even though the IPO market is still in a state of recovery, reflecting lingering economic anxieties and other factors. IPOs in 2024 have outpaced last year, but activity remains below normal levels, the law firm Ropes & Gray LLP said. Those dynamics are driving VCs and more mature startups to create liquidity by selling to private equity, even though the rewards often aren’t nearly as dazzling as in a public offering. Tech as a percentage of total PE deal value was 28.3% in the third quarter, up from 18.7% in the second, as buyers and sellers had an easier time agreeing on prices, according to PitchBook private equity analyst Garrett Hinds. Capital was cheaper, and PE buyers could pay a little more. Looking forward, he said, PE buyers may broaden beyond the highest-quality targets that were evident in the third quarter. PE firms are particularly drawn to software companies with subscription business models and stable, recurring revenues, although they will look for growth opportunities in other sectors such as AI-supportive data infrastructure deals too, according to Ropes & Gray partner Kate H. Withers. Lane Bess, chief executive of cybersecurity startup Deep Instinct, said his family office, Bess Ventures, invested in companies he thought were going to have a shot at going public in the two to five year range—and many of them have aged beyond that timeframe. Three years ago, many startups in cybersecurity and other areas of tech were valued at 12 to 15 times forward revenue, he said. Now those valuations are in the revenue multiple range of six to 12 times, in many areas, with the exception of a few areas such as AI and some software-as-a-service players. A private-equity exit may not be as lucrative or satisfying as ringing the bell at the stock exchange to celebrate a successful IPO. And measured realism feels alien in the tech world, synonymous with a go-big-or-go-home mentality.  But it could have a positive side effect for tech startups, by discouraging marginal companies and investors from contributing to endemic bubbles. Still, the idea is a hard sell for some, including Bess. “Personally, selling my company to private equity would be my last choice,” he said. “That’s because they’re likely to cut costs to the bone, and they’re likely to let the company sit for a while until they can find some other way to combine the company or manufacture a strategic valuation or re-entry into the public markets.” Others may not share his sentiment. “A lot of this does come down to investor and board dynamics, to get liquidity,” Bess said. “There is a lot of impatience. Investors are now saying, ‘Listen, you know, my money’s been tied up in that company long enough. I’d be happy to see an exit.’ ”

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✨ Breaking: Nodem Capital Continuation Fund Announces New Fund.- Nodem Capital Continuation Fund A continuation fund by Nodem Capital focused on secondary liquidity for assets in Emerging Europe, Turkey, LATAM, SEA, and India. https://nodem.com/ Please share to let other #Founders know For the ❤️ of Startups #Fusion42 #Startups#Venturecapital

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European family offices should allocate more to private equity! By region, family offices in North America allocate 35% of the average portfolio to private equity and 8% for hedge funds; in Latin America, 18% and 2%; in Switzerland, 18% and 3%; in the rest of Europe, 22% and 4%; in the Middle East, 27% and 5%; in North Asia, 18% and 6%; and in Southeast Asia, 19% and 5%. #familyoffice #wealthtransfer #assetallocation #investmentstrategy #investmentmanagement #privateequity #returnoninvestment #portfoliomanagement #risk #return

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𝐖𝐡𝐚𝐭 𝐠𝐨𝐞𝐬 𝐢𝐧𝐭𝐨 𝐞𝐟𝐟𝐞𝐜𝐭𝐢𝐯𝐞 𝐕𝐂 𝐟𝐮𝐧𝐝 𝐦𝐨𝐝𝐞𝐥𝐥𝐢𝐧𝐠??? ⚒️ 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 is where it all begins. In our view, a granular approach to planning your entry investments and potential follow-ons is invaluable. Every detail matters, from the initial compilation to the strategic planning of future investments. This sets the stage for everything that follows, laying a solid foundation for your portfolio. 🔍 Once you’ve built your portfolio, 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐃𝐞𝐜𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 becomes crucial. Tracking what happens over time – when and how you sell, and how your investments develop – is key to understanding each asset’s journey. The dynamic factor in decomposition can be particularly insightful. Adjusting the NAV dynamically provides a more realistic reflection of your portfolio's performance, allowing you to adapt to changing circumstances and refine your strategy effectively. 🎯 Having a Granular Overview is essential. While it might seem like a lot of work, the details are where true understanding lies. By meticulously tracking and modeling each asset’s performance, you ensure that your portfolio reflects its true potential. This detailed approach enables more informed decisions and a clearer picture of your investments. If these insights resonate with you and you want to explore them further, consider joining the second edition of our "Fund Modelling in VC: Portfolio Construction and Decomposition" workshop on August 7th with Marc Penkala. This workshop is designed to delve deep into the intricacies of VC fund modelling with a practical, no-nonsense approach. Spots are limited, and they’re going fast: https://lnkd.in/d4NMkKxb #vc #Fundmodelling EUVC

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Wing Venture Capital is excited to unveil today the "Angels' Share 100", an exclusive list of the most active angel investors in the most promising startups in B2B technology. This project's mission is to serve as an information and relationship platform for the founder and angel community. Building a successful B2B technology company is hard work, and as early-stage investors and long-term company builders ourselves, we know we need all the help we can get! An important source of help has been the individual investors we work with. Individuals investing alongside us have consistently made powerful contributions to ultimate success. So we set out to study these “angels” in our midst. Who are they? Where did they come from? What allows them to make a difference? https://lnkd.in/gfFs4-bu

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In 2024, family offices played a significant role in startup investments, with the top 10 family offices collectively making over 150 investments, focusing on sectors like biotech, energy, crypto, and artificial intelligence. CNBC, in partnership with FINTRX, analyzed these offices, revealing Maelstrom (Arthur Hayes' family office) as the most active, with 22 investments primarily in blockchain. Other top players include Motier Ventures, led by Guillaume Houzé, and Thiel Capital, led by Peter Thiel. AI emerged as a dominant investment theme, with 78% of family offices planning to invest in AI within the next 2-3 years. Read More: https://lnkd.in/eKSaYP88 Branded Hospitality Ventures #AI #Biotech #Crypto #Investing Hospitality Headline Newsletter Guillaume Houzé Peter Thiel Laurene Powell Jobs Trust Bernard Arnault Robert Frank Nico Mizrahi

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The Venture Capital Raise-Rinse-Repeat Investment Cycle Is Facing Decline as indicated in the article linked: https://buff.ly/3YoqArt. This trend reflects a shift in investment strategies within the venture capital industry. Investors are now seeking alternative methods to maximize returns and mitigate risks amidst changing market dynamics. The traditional model of raising funds, investing, and repeating the cycle is evolving to adapt to the current economic landscape. This shift prompts industry players to explore innovative approaches to stay competitive and sustain growth. #VentureCapital #InvestmentTrends

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 “Confidence is key to this unlocked activity — and it is returning, but remains fragile. Some of the obstacles that previously affected deal-making are diminishing but problems remain. In practice, for deal makers, investors and companies, the ability to forecast the future valuation of the businesses, to navigate the regulatory environment, to face political uncertainty as the general elections draw closer, and to anticipate shareholder reaction to any transaction will be key to successfully exploiting this wave of M&A activity and delivering strategic value to stakeholders.” said Simon Branigan in The Times highlighting the M&A market in the UK. Read Full Article: https://lnkd.in/eA4ZBr2b Branded Hospitality Ventures #innovation #venturecapital #technology #Hospitality Linklaters Dr Tim Johannsen-Roth Cristina Serrano Andrew Vickery Chris Holt

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Preparing a VC-Backed Company for an Exit Event Excited to share insights on navigating exits for private companies! 💼 Achieving liquidity through M&A exits requires preparation and strategic oversight. Founders and managers must ensure internal alignment among stakeholders before embarking on the sale process. Timing is key—keeping a close eye on market conditions and managing burn rates can maximize value. Starting early with the proper mix of financial and legal advisers, being on top of legal housekeeping, and diligently negotiating the term sheet can simplify the process and lead to a very rewarding outcome for all parties involved. Read More Here: https://bit.ly/4dcbZnT #MandA #StartupSuccess #BusinessStrategy Branded Hospitality Ventures

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🚀 Unlocking Global Growth: A Deep Dive into Fundraising for Expansion 🌍 Yesterday's '#Fundraising for #International #Expansion' session as part of the Scaleup Globally program was incredibly insightful and packed with valuable information! 🌟 It offered a full 360-degree view of the fundraising landscape - including #public funding options, fundraising #stages, #VCs view, #private equity - in order to help to navigate the #challenges and #opportunities of scaling businesses internationally. 🌍💰 Many thanks to the organizers and all the presenters ✨ Renate Schnutt, Rosin Iscen, Elena Frauenlob Austrian Federal Economic Chamber, Female Founders #ScaleupGlobally #StartupExpansion #WKÖ #EEN #FFG #aws #InternationalBusiness #Entrepreneurship #InternationalExpansion #Fundraising #Collaboration #Learning #Growth #Innovation #PersonalDevelopment #Investors #BusinessAngels #VentureCapital #LPs #GPs #PublicFunding #Startup #Scaleup #InnovaticGroup InnovaticGroup. Create the Future Now Innovaticgroup.com

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Capital invested by global corporate venture capital (CVC) firms surged 26% QoQ to $15B in the first quarter of 2024, per CB Insights. CVC's investment surge was greater than the uptick seen in the broader venture funding market. CVCs invested 47% of the funding into 33 mega funding rounds of more than $100M. Notable rounds backed by CVCs include a $700M funding round for Wonder and a $675M financing for Figure. American Express Ventures and Google Ventures participated in Wonder’s latest funding round, while Intel Capital, M12, N Ventures, OpenAI Startup Fund, and Samsung Ventures backed Figure. Early-stage startups bagged 66% of global CVC deals so far in 2024. Early-stage startups in Europe, Asia, and the U.S. secured 73%, 66%, and 59% of the deals, respectively. The fintech sector saw a 41% QoQ jump in CVC deals to 165. Blockchain investment firm OKX Ventures was the most active CVC investor, backing 27 startups in Q1 2024. CVC activity cooled in China, with funding dropping 40% QoQ to just $300M in the first quarter.

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🔝⚠️Key Hedge Fund Managers📉📈Rebalance Portfolios📊Away from🦾Nvidia♻️‼️ 🔘Amidst an ever-evolving #technology landscape, several high-profile #investors have recently adjusted their tech holdings, signaling a shift in conviction towards companies with strong #artificialintelligence (#AI) prospects. Notable #billionaires operating #hedgefunds began divesting from #Nvidia, a titan in the #GPU industry, even before its #stock underwent a 10-for-1 split on June 7. Despite Nvidia’s stock more than doubling in the past year, largely thanks to its AI buzz, these investors saw potential elsewhere. 🔘Philippe Laffont of Coatue Management significantly downsized his Nvidia shares by 68%, instead boosting his interest in #tech conglomerate #Alphabet by 155%. Alphabet, known for its dominance in both the #admarket and #cloud infrastructure, has integrated its AI-driven platform, #Gemini, into various services including #Google Search and Google Cloud, showing promising #revenuegrowth in its Q1 #financial report. 🔘Similarly, Steven Schonfeld of Schonfeld #Strategic Advisors cut his Nvidia stake by more than half while almost doubling his #investment in Alphabet. Paul Tudor Jones of Tudor Investment slashed his Nvidia shares considerably, concurrently showing enthusiasm in cloud-based #datawarehousing company, Snowflake, which Forrester recently acknowledged as a market leader. Lastly, Louis Bacon of Moore #Capital Management lightly reduced his Nvidia position, merely by 19%, opting to invest in both Alphabet and #Snowflake as well—although not as prominently within his #portfolio. ⚠️Key Questions and Answers: 🟡Why are hedge fund managers moving away from Nvidia? Hedge fund managers might be #rebalancing their portfolios away from Nvidia to diversify their investments and capture higher growth potential elsewhere, particularly in companies with emerging AI capabilities and strong positions in cloud infrastructure. 🟡Which companies are favored by the hedge fund managers? Hedge fund managers have shown an increased interest in Alphabet, due to its significant advancements in AI and cloud services, and Snowflake, which leads in cloud-based data warehousing. 🟡What challenges does Nvidia face? Despite its past success, Nvidia may face challenges such as increased competition in the AI and GPU markets, potential regulatory issues, and the need to consistently innovate to maintain its market position. 🟡What controversies are associated with Nvidia? Nvidia has occasionally faced controversy over topics such as product shortages, competitive concerns, and the environmental impact of cryptocurrency mining which relies heavily on GPUs. …

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I struggle with the viewpoint of some of the European GPs toward prospective US LPs. Cross-border investing from the US is different from anywhere else in the world. You have to care about your (prospective) LPs and can't expect them to be fluent in US PFIC/CFC/GILTI tax regimes. Saying "taxes are their problem" is an attitude that will not help you to get them in the next fund because you will fail to provide them with the massive data needed to file 5471, 5472, 8938, and FinCEN114. And when resulting fines start climbing from 5 to 6 digits, you may find yourself as a GP in some very hot legal waters. GP-LP relationship is a minimum 10-year commitment. Often, it will go into several decades. I don't know about you, but I can't work with someone who does not care how our business relationship affects both of us.

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Some interesting points about venture investing by family offices made in the CNBC article below: According to PwC, almost a third of startup capital came from family offices in 2022 (2024 data not available).  This article points out that a major trend has family offices “co-investing” as partners alongside a VC fund, which leads the investment (often with lower fees than LPs). This arrangement is a win-win: lower risk for the family offices who don't have the in-house expertise or bandwidth to effectively source and vet early stage opportunities and large pools of funds for VCs to put to work. Among the drivers for venture investments by family offices is the desire to stay ahead of the technology curve. Family office advisors point out that serial investors often take the perspective that investing in startups is a way to get a first-hand and early understanding of specific technologies and markets, knowledge which they can put to use in larger investments or inside their own companies. This has multiple potential benefits, from providing early stage companies with the inside opportunities to accelerate R&D and go-to-market, while offering the portfolio companies of the investors early access to implement and reap the rewards of emerging technologies. #familyoffice #investing #tech #startups #venturecapital #vc #alternativeinvesting #vcfunds #earlyadaptors #researchanddevelopment

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Private Uncorrelated Alternative Investments: These are investments where the underlying risks are uncorrelated, or less correlated, with both publicly traded equity and fixed income investments. For the right portfolio they can be a strategic hedge against the potential turbulence discussed in this article. Capital Q® Ventures Inc.

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