Lefteris Papadopoulos

In 2023, women-founded #startups in Europe raised just 1.8% of the total capital invested in venture-backed startups - a figure that’s only slightly higher in the US at 2%, according to the World Economic Forum. Although I really hope that one day the industry finds a way to overcome its similarity bias, the reality today is typically that diverse founders have to adjust to the industry bias. Therefore, to support female founders seeking funding, I was one of 58 female investors from 26 countries who shared my perspectives. Please find the PwC report on ‘5 fundraising recommendations from women investors to women founders’ here: https://lnkd.in/dGUVPyRK

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High valuation isn't always the best scenario as people usually think 😑 I'm currently looking deep into AI startups and the whole sector. Let's get the case of Perplexity, one of the biggest AI-chatbot firms that was founded in 2022 with ~10M monthly active users (as of Jan 2024). In January, the company raised nearly $74 million at a valuation of $540 million. In April, sources said that Perplexity is raising at least $250 million more at a valuation of between $2.5 billion and $3 billion.  We are talking about at least a +463% valuation growth in 3 months. When a startup that has a valuation of US$200k goes up to US$600k in 3 months we go like 'Ok, big growth but not crazy'. But when you have a +US$500M valuation and you have this growth, I start to be more concerned. But why it can be bad to have a disproportional valuation? Here is an explanation from Fast Company: "The first, and probably most important, is the impact on the company’s ability to attract quality talent... most people in the startup world join startups for the equity upside in a liquidity event or IPO. When a highly-priced round is completed, guess what–the strike price of the options also goes up. In effect, the hurdle for the options to be “in the money” has gone up and the value of the options has decreased." "Another difficulty in raising a highly-priced round is the set of expectations from the new investors...When you next need to raise capital, you may be faced with a down round, or in extreme circumstances, a complete recap or non-funding." Thus, investors and founders need to have all this in mind to not commit themselves to future problems ☠

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Summary: OpenAI Startup Fund, a venture fund investing in early-stage AI-related companies, has quietly closed a $15 million tranche from unnamed investors. The capital was transferred to a special purpose vehicle associated with the fund, and this is the second time the fund has raised capital through an SPV. Key takeaways: The OpenAI Startup Fund has received a $15 million investment from two unnamed investors. The fund uses special purpose vehicles to pool investments from multiple sources. OpenAI CEO Sam Altman has transferred formal control of the fund to manager and sole partner Ian Hathaway. Counter arguments: Some critics have raised concerns about a potential conflict of interest due to Altman's previous control of the fund and its connections to OpenAI. The general partner structure of the fund has been described as "temporary" by OpenAI, but it has already received significant commitments and investments. #startups #venturecapital #vc

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Many startups didn't end up with the same idea that they started with. Instagram started as a check-in app called Burbn. After noticing users were mainly using the photo-sharing feature, they pivoted to become the photo-sharing platform we love today. As founders, the ability to adapt and pivot is crucial. Embracing new ideas, learning from failures, and continuously innovating are the cornerstones of success. I hope this is the reminder you need to change your mind if you have to.

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Starting out as a founder in the startup world is an exhilarating journey, full of highs and lows. One of the most critical aspects of this journey is building a team and nurturing your relationship with co-founders. Based on insights from what we observe about a team as early-stage VCs, here’s what I believe works best for creating a solid foundation: - Open & Communicative Relationships: Just like any work relationship, transparency and communication are key. Ensure that you and your co-founders are always on the same page. Regular check-ins, honest conversations about challenges, and celebrating wins together foster a healthy dynamic. - Understanding Ethics & Working Styles: Every founder brings their unique experience and perspective to the table. It’s essential to understand and respect each other’s ethics and working styles. Whether one has decades of experience or is just starting out, what matters is the alignment in vision and approach to achieve your end goal. - Shared Journey, Shared Vision: The startup journey is a collective one. Embrace the differences in experience and skills, and leverage them to build a stronger, more diverse team. Remember, you are in this together, and understanding each other's strengths and weaknesses will only make your team more resilient. - Prioritisation is Key: With limited resources and endless possibilities, prioritisation becomes crucial. Focus on what brings the most value to your end goal and align your team’s efforts accordingly. Clear priorities help in making strategic decisions and ensuring everyone is working towards the same objectives. 🚀Startup is not just about the destination, but also about the journey🚀 #TeamBuilding #Founders #VCInsights

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Y-Combinator Guide: How to Split Equity between Cofounders & When You Should (and Shouldn’t) Split… https://buff.ly/3WoVkav The Y-Combinator Guide delves into the intricate process of splitting equity among cofounders, outlining the crucial considerations and scenarios where equity division is warranted. Understanding the dynamics of equity distribution is essential for fostering a fair and sustainable partnership. By exploring real-world examples and statistics, cofounders can navigate this challenging aspect of startup collaboration more effectively. It is crucial to establish clear guidelines and agreements to prevent potential conflicts in the future. This guide provides valuable insights for entrepreneurs embarking on new ventures. #StartupEquity #CofounderCollaboration #venturecapital #startups

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This week on Nothing Ventured I spoke to Andrea Gurnari, Partner at 2100 Ventures 🚀 2100 Ventures is a pre-seed and seed stage fund dedicated to supporting European entrepreneurs driving the new golden age of industrial innovation, investing in B2B businesses across a range of verticals. Prior to 2100 Ventures, Andrea was an investor with Atomico and Connect Ventures before which he worked in and co-founded startups in Italy and the UK. We talked about: 💸 How early should founders be thinking about monetisation. 🇬🇧 The collaborative and international nature of the UK and why that’s a huge advantage for the country. 🤔 How the psychology of the founder impacts their decision making, accepting that the experiment hasn’t worked can be very difficult. 🧠 Why founders need deep intellectual honesty. 👹 The ecosystem owes it to founders to not demonise failure. 🧪 Everything starts with experiments. 🇪🇺 Can we innovate on the old economy of Europe and rebuild productivity the region has lost. 🤨 Andrea’s contrarian take - sometimes you have to judge the reasoning not the output. Check out our conversation on YouTube, Spotify, Apple or wherever you get your podcasts 💪🏾 https://lnkd.in/dn6569Eu https://lnkd.in/d5f7FCT9 https://lnkd.in/didDCGNb (And if you love these conversations, don't forget to rate, subscribe and share - and drop me a note in the comments to let me know how we can make them even better 🙌🏾)

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I spoke to Sifted on why European startups like 11x keep moving stateside We need to get back to growth mode, lest the Europe-USA pipeline stay open, draining the continent of its talent Accelerate or die https://lnkd.in/eGJpKW9t

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Ambition ignites the spark, and opportunity fuels the flame. 🔥 Become a part of our Venture Partner Program and drive the next wave of startup innovation. Shape the future with us. 📈💯 Join ah! Ventures and dive into the action. 🤝🏻🔥 https://lnkd.in/dDafq24K #ahVentures #BusinessGrowth #StartupOwnership #StartupInvestment #VentureCapital #InvestmentOpportunity #StartupSupport #StartupEcosystem #VenturePartner #EntrepreneurialJourney #ProfessionalGrowth #StartupSuccess #startuplife #startuptips #startupbusiness

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I've been running a pre-seed/seed deal flow sharing call for about 5 years. Last call, I had 170 intro requests from VCs to meet founders mentioned in the event (investors pitch to investors). Call #58 is coming up next week, and 7 investors have already shared deals for consideration. If you are an investor that wants to get involved (and you are actively deploying), you are welcome. Shoot me an email at [email protected] with the *exact title* "Deal Flow Call #58 - LinkedIn" and include your full name, what your context for investing is (angel, FO, CVC, etc).

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Some interesting startups you might like to check: HindSight Modoru Platforum9 And since 5 out of 12 different founders I talked to this week still weren’t sure how to identify and where to find the right investors for themselves- shipshape.vc #scaling #growth #investment #marketexpansion #marketlaunch

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I used to tell startups the mistakes they should avoid. And now I try avoiding them myself at (Super)Analyst. 1. 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐟𝐨𝐫 𝐞𝐯𝐞𝐫𝐲𝐨𝐧𝐞 "𝘔𝘢𝘹𝘪𝘮𝘪𝘴𝘦 𝘵𝘩𝘦 amount of 𝘱𝘦𝘰𝘱𝘭𝘦 𝘸𝘩𝘰 𝘤𝘰𝘶𝘭𝘥 𝘨𝘦𝘵 𝘢 𝘷𝘢𝘭𝘶𝘦 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘱𝘳𝘰𝘥𝘶𝘤𝘵" How I try to avoid this: 🧐 Full focus on our niche: senior-heavy advisory and investment companies 2. 𝐌𝐚𝐤𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐩𝐫𝐨𝐝𝐮𝐜𝐭 "𝐚𝐥𝐥-𝐢𝐧-𝐨𝐧𝐞" "𝘞𝘦 𝘩𝘢𝘷𝘦 𝘦𝘯𝘥𝘭𝘦𝘴𝘴 𝘶𝘴𝘦 𝘤𝘢𝘴𝘦𝘴 𝘧𝘰𝘳 𝘰𝘶𝘳 𝘱𝘳𝘰𝘥𝘶𝘤𝘵, 𝘢𝘯𝘥 𝘭𝘰𝘰𝘬 𝘢𝘵 𝘰𝘶𝘳 𝘛𝘈𝘔: 𝘩𝘶𝘨𝘦" How I try to avoid this: 1️⃣ We only have ONE use case: trained and tailored support, or even call it a 'workbench', for your operations with maximum flexibility 3. 𝐇𝐢𝐫𝐢𝐧𝐠 𝐚𝐧 𝐚𝐠𝐞𝐧𝐜𝐲 𝐭𝐨 𝐝𝐨 𝐚𝐥𝐥 𝐲𝐨𝐮𝐫 𝐠𝐨-𝐭𝐨-𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐨𝐫𝐤 "𝘗𝘳𝘰𝘥𝘶𝘤𝘵 𝘪𝘴 𝘣𝘶𝘪𝘭𝘵, 𝘯𝘰𝘸 𝘸𝘦 𝘫𝘶𝘴𝘵 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘣𝘳𝘪𝘯𝘨 𝘪𝘵 𝘪𝘯 𝘧𝘳𝘰𝘯𝘵 𝘰𝘧 𝘵𝘩𝘦 𝘱𝘦𝘰𝘱𝘭𝘦" How I try to avoid this: 👋 Our agency is called Stephan Freudl. Drop me a DM! ❓What are your biggest learnings to share? (Super)Analyst #AnalystAsAService #FutureOfWork #Entrepreneurship P.S.: Happy 50th wedding anniversary Mom and Dad! ✨💫

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Fundraising is a long and continuous process, usually taking no less than 3-4 months to finish, and it's better to start it when you have at least 9-12 months of runway (cash in the bank divided by monthly burn rate) #fundraising #startups #investors

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🌟Creandum successfully closes its Fund VII🌟 A €500m vehicle aimed at supporting seed and early-stage startups across Europe, raised in just 12 weeks, is backed by 30 global LPs, with more than half of the capital coming from US investors. The investor base includes 5 of the eight largest US university endowments, as well as pension funds and foundations.💰 Creandum plans to make 35-40 investments at the seed and Series A stages over the next two to three years, across various sectors. The firm, with offices in Stockholm, Berlin, London, and San Francisco, has a history of backing notable companies like Spotify, Klarna, and Depop. Impressively, one in six of Creandum’s early-stage investments has turned into unicorns 🦄. In a statement, Creandum highlighted that the closure of its latest fund demonstrates strong interest from top global investors in European tech, particularly at the early stages. Europe is a significant hub for seed funding, attracting nearly a third of all seed capital globally, and is home to over 500 unicorns spread across 65 cities and 25 countries 🌍. Despite a significant drop in VC investment, Creandum’s latest fund closure underscores a robust appetite from top investors for exposure to European tech. The firm’s LP Top Tier Capital Partners's Jonathan Biggs mentioned that their returns show that European VC groups can match their Silicon Valley peers. “The firm is comfortably at the top table of global VCs,” Biggs said.🏆 Creandum’s fundraising success reflects its disciplined focus and consistent approach. The firm believes that a generalist approach, partnering with top entrepreneurs to build global, category-defining companies at the earliest stages, is key to maintaining market-leading returns.📈 The firm is optimistic about Europe’s tech landscape. The last quarter saw increases in both funding and valuations, largely driven by AI and SaaS. Creandum is excited to back startups like the H Company, which is pioneering the development of Artificial General Intelligence 🤖. Climate tech is another massive opportunity in Europe, with 22% of VC funding in 2023 going to this sector, compared to just 7% in the US. European companies like Enode and Monta are leading efforts to decarbonize the power sector 🌱. Creandum is eager to support a new generation of European founders. The firm extends its gratitude to its team, LPs, portfolio companies, co-investors, and follow-on investors for their partnership and support. ✅ Looking to raise capital for your #VCfund and increase the international pool of your LPs?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments (Series A/Series B)?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE #VentureCapital #EuropeanTech #StartupFunding #AI #ClimateTech #SeedInvesting #SeriesA #Innovation #TechInvesting 4o

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I will be at Sifted Summit again next month, with my weirdly distorted head, doing female founder office hours for Alma Angels with 49 other investors for 100 founders. 🎟 Get your ticket to Sifted Summit with 15% off with the code Alma15 - link in comments - and Sifted will contact you to register. During the day, I will most likely just find a spot and stay there. Please come and say hi. Roxane Sanguinetti 😃 David Fogel Willo® Runna The Maydays AndAlso Improv #founders #startups #venturecapital #buildinginpublic #investinginpublic More at unbundled dot vc.

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Sputnik ATX VC’s Summer 2024 application for early-stage startups is officially open! 🚀 We invest in early-stage startups that have at least a customer and an MVP, and only invest in nerdy startups who know how to make their product/service. We then teach those nerds how to sell. If you couldn’t tell already, we LOVE nerds.😂 If this describes you, apply here by June 25th: https://lnkd.in/e2nuRaCf If you want to learn more about Sputnik ATX VC or ask us questions that we haven’t covered in the FAQ section on our website (https://lnkd.in/ekQTYJaQ), book time with us here: https://lnkd.in/ekRVX3Ae. We’d love to get to know you and see your application! Tag your founder friends in the comments ⬇️ Oksana Malysheva, Joe Merrill, Amanda Eakin, Ethan Hansen, Austin Longoria, Mary (Masha) Krainov #venturecapital #startups #funding #earlystage #founders

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