Alex Macdonald

I couldn’t be prouder to be a Venture Partner at Isomer Capital (aka the best European FoF - at least for me) as we just announced the launch of our pioneering £100m secondaries fund. This fund is dedicated to acquiring stakes from LPs in various VC funds, tapping into a massive and largely unexplored market. 🌟 Key Highlights: - Focused Investment: Primarily targeting stakes in VC funds, with selective investments in private companies. - Robust Funding: Already over 20% funded, thanks to strong support from Nordic family offices and a German foundation. - Market Potential: With a growing number of private tech companies and a VC liquidity crunch, Europe's VC secondaries market is poised for rapid growth. - Track Record: This isn’t Isomer’s first foray into the secondaries market. As a firm we’ve done several secondaries deals with portfolio companies and VC firms, including early-stage VC Seedcamp (in 2021) and mobility giant Bolt (in 2023). - Expert Team: Welcoming the amazing Omolade (Rachel) A., formerly of Coller Capital, as a principal to lead this initiative. 💡 Investment Strategy: - 65-75% of the fund will buy "LP interest" stakes in VC funds. - 15-25% will be directed towards stakes in companies. - Up to 15% reserved for flexible investment opportunities. 📈 Looking Ahead: We're targeting returns of 2-3x, with significant distributions expected in the next 4-7 years. As one of the few players in this space, we're not just participating in the market—we're driving it forward. Read all about it here: https://lnkd.in/dc7sbC3G #VentureCapital #SecondariesFund #EuropeanVC

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We had the pleasure of speaking to the inimitable Gordon Sanghera, co-founder and CEO of Oxford Nanopore Technologies, valued at around $6.8bn in 2021. Gordon somewhat accidentally ended up as an entrepreneur, breaking the conventional VC wisdom around 'born founders'. The technology is wild - democratising access to genomic sequencing giving us a new understanding of living organisms. In the episode of Riding Unicorns, we cover: 00:00 Defining Entrepreneurship 00:55 Understanding Oxford Nanopore's Technology 06:10 Gordon's Journey to Founding Oxford Nanopore 12:09 Commercialization Challenges and Strategies 16:27 Building a Strong Founding Team 20:55 Navigating the Ups and Downs of Deep Tech 25:54 Innovative Applications of Nanopore Technology 28:57 Company Culture and Operational Insights 35:05 Attracting Talent in a Competitive Market 37:22 The IPO Experience and Future Outlook https://lnkd.in/eQZVSGeK

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Top 10 Most Active UK Angel Networks The UK’s startup ecosystem is flourishing, thanks to the tireless efforts of angel networks who back the next generation of innovators. Beauhurst recently highlighted the top players in this space, and I’m thrilled to share some of the standout names driving change and growth. 1. Susie Fisher - Kelvin Capital 2. Lynne Cadenhead - TRICAPITAL Angels Limited 3. Alex Davies - Wealth Club 4. Paul Tselentis - 24Haymarket 5. Oliver Woolley - Envestors 6. Jock Millican - Equity Gap 7. Niki McKenzie - Archangel Investors Limited 8. Alexis Toft - Minerva Business Angels 9. Emmi Nicholl - Cambridge Angels 10. Eileen Modral FRSA - Oxford Innovation Finance These networks have consistently provided invaluable support to early-stage ventures, catalysing the growth of some of the most promising startups in the country. 🎯 What angel network are you part of?

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Excellent opportunity for founders looking to expand to the US. I'm pleased to announce that sclr labs is hosting an exclusive private dinner with Wilson Sonsini for those navigating US expansion and fundraising. For many high-growth enterprises, there’s nowhere better to start and grow than the UK, and nowhere better to expand and secure later-stage funding than the United States. The US offers significant commercial opportunities and ample venture capital. However, doing business in this competitive environment requires careful planning and execution. The discussion will be led by Daniel Glazer, who heads the US Expansion group and London office at Wilson Sonsini Goodrich & Rosati. With a track record of representing more tech companies on their venture financings, M&A transactions, and IPOs than any other law firm globally, Wilson Sonsini is a trusted partner for startups aiming for success. If you’d like to learn more about how Wilson Sonsini supports startups, check Wilson Sonsini’s US Expansion, Fundraising & Exit: https://lnkd.in/eTz4DKv3. This event also serves as a heads-up for the upcoming sclr's Scale US program. If you are interested in attending the event, you can request an RSVP directly (pending approval) via the link 🇺🇸 https://lu.ma/vgsbreij. While we are prioritising growth stage startups within sclr labs's ecosystem due to the limited number of places, we are also inviting others, so please let us know if you are interested. For those interested in finding out more about expansion and keen to have a conversation around growth, scaling, and the event itself, please DM me, Jürgen Vleminckx or feel free to email [email protected]. We are looking forward to connecting with you. #scaleup #USexpansion #Fundraising #accelerators #startups #founders

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🚀 Resurge Growth Partners Launches €120M Fund to Back European and Israeli Scaleups Exciting news from Resurge Growth Partners, a London-based venture equity investor, as they announce the launch of their €120 million venture equity vehicle! This fund is designed to bridge the gap between traditional venture capital and private equity, offering much-needed support for high-potential scaleups across Europe and Israel. 🌍 The vehicle is set to invest at least €120 million over the next three years, targeting companies with €8M+ in revenue. By focusing on buyouts, recapitalizations, and strategic partnerships, Resurge plans to inject capital and resources into scaleups, enabling a clear path to sustained profitability. This strategy is sector-agnostic, but the primary focus will be on tech and tech-enabled businesses with established product-market fit. Resurge has already secured nearly half of the capital through GP commitments and backing from a leading family office. The remaining funds will come from a select group of family offices and high-net-worth individuals committing on a deal-specific basis. Founded by Oren Peleg and Eyal Malinger, Resurge aims to transform promising businesses into market leaders by offering tailored support and resources beyond financial investment. This initiative marks a significant opportunity for scaleups in the region to access growth capital and operational expertise, driving innovation and profitability. If you are experiencing difficulties in raising fresh capital and would require warm introductions to new LPs, contact G+QUANT     ▶ Please use G+QUANT's link for inquiries and fund decks, or send your inquiry directly to [email protected] #VentureEquity #Scaleups #TechInvesting #EuropeanStartups #IsraeliStartups #GrowthCapital #PrivateEquity #InnovationInvesting

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🚀 Kanabo: Pioneering Telemedicine and Medical Cannabis 🚀 Explore the pioneering journey of Kanabo the first medical cannabis company to list on the London Stock Exchange. Under the leadership of Ian Mattioli director of Mattioli Woods plc as chairman, Kanabo has innovated in the integration of traditional and alternative medical treatments. This video highlights how working with Ian has deepened our team’s empathy, driving significant enhancements in patient care. Discover Kanabo’s unique approach to telemedicine, combined with medical cannabis, setting new standards in healthcare innovation. #Kanabo #MedicalCannabis #Telemedicine #HealthTechInnovation #MattioliWoods

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Taavet Hinrikus and I made the Financial Times Due Diligence email. https://lnkd.in/ez2AuGQx One 'unintended consequence' is that if there is a 45% tax on carry and CGT (raising £40m per year, remember) it for all intents and purposes closes the door on new VCs in the UK. Especially started by teams from non-traditional backgrounds. To meet the GP commit, you need to be already part of the 'wealthy' as you cannot rely on the value you create - nearly half of it will disappear - to fund it. We have both had extremely successful startups which are few and far between. The smaller number of new VCs will therefore more likely increasingly be for people who have inherited the capital or can draw it from their already rich family. Probably not want they have in mind with this policy.

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This is an excellent article (loong one, pls note) on a step by step guide to hitting PMF or product-market fit. Love how PostHog cofounder 🦔 james hawkins visualises PMF akin to a game, with 5 levels and how to jump levels. More relevant for B2B / SaaS founders than B2C given James' experience w Posthog. One quibble would be keeping the ICP definition process on Level 5, whereas it should be something that you freeze on with picking the problem (his Level 1) ideally. While James describes this as getting to PMF, in my #pmfplaybook this is actually PPF or product to problem fit. In my definition, PPF + MMF (GTM Motion to Market Fit) = PMF. Repeatable scaling post this stage (5 reference customers) via a scalable GTM playbook is what is truly PMF. But this is my opinion against his opinion + track record of building to $20m ARR. This is a truly masterful resource for iterating to PMF. Every B2B / SaaS founder starting out or an aspiring B2B / SaaS founder should eyeball / read this. https://lnkd.in/ghGhBn-v

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A top FIVE trend in #startup ecosystems right now

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New Solo GP: Backfuture Ventures Fund I🚀 By the time Alexander Theuma had run his annual software startup conference, SaaStock, for several years, speakers and investors began encouraging him to launch an investment fund. Initially, he thought it would be a distraction, but not anymore. Recently, the first close at $3m of his target $10m fund for BackFuture Ventures was announced. The firm aims to invest in early-stage SaaS companies, primarily in Europe, leveraging SaaStock's extensive network.💰 “It has, unsurprisingly, been hard,” Theuma says, referring to the market downturn making it challenging for emerging VCs to raise funds. Despite this, he has secured 48 LPs, and hopes to reach the final close by September.💪 The strategy is to write £100k-200k cheques for pre-seed and seed-stage SaaS companies. The firm won’t lead deals and will likely avoid many AI deals for now due to high costs. About 70% of the portfolio will be based in Europe, 20% in the US, and 10% in the rest of the world. Theuma emphasizes the strategic value of Backfuture, stating, “The least interesting thing about us is the money. It’s a strategic play for the founders. No other VC has access to a community and network like SaaStock; through it, we can provide access to VCs and experienced founders.”🎯 Backfuture's initial investments include: - Happl - Tipple Theuma is currently working part-time on the fund, his associate, Kenneth Kashif Thomas, whom he met at a SaaStock event, is full-time. By the second fund, Theuma hopes to dedicate himself full-time to Backfuture.⏰ Inspired by an episode of Harry Stebbings’ podcast 20Minute VC, Theuma adopted the strategy of accepting LP cheques of any size to get the ball rolling. Initially, he accepted nothing below £10k. He later raised the minimum to £50k, then £150k, noting that “people typically come in at the minimum.” To keep the pool of LPs manageable, he plans to raise the minimum further near the final close, aiming to keep it well under 100 LPs.🏃‍♂️ So far, Theuma has spoken to around 200 LPs, with 48 committed. Notable LPs include: - Phil Chambers, cofounder of Workday Peakon Employee Voice. - 🔥 Bridget Harris, CEO of YouCanBookMe. - Taeh Hea Nahm and Ryan Floyd, managing partners B2B VC Storm Ventures. - Christian Reber, founder of Pitch. - Gregory Galant, CEO of Muck Rack. 🦸‍♂️With Backfuture Ventures, Theuma joins a growing community of solo GPs in Europe, excited to support a new generation of SaaS founders. 🚀 ✅ 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 #SaaS #StartupFunding #EarlyStageInvesting #EuropeanTech #SoloGP #SaaStock #Innovation #TechInvesting

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2024 LAVCA Trends in Tech - LAVCA https://buff.ly/4dfL6Qf by @LAVCA sector and country-specific breakdowns, average round sizes across investment stages and the current role of global investors co-investing alongside local fund managers! #rafAIgual #vc #trends #investment #latam

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🎉 20VC Closes Fund III at $400M to Back Next-Gen Startups London-based venture capital firm 20VC, led by Founder and Managing Partner Harry Stebbings, has closed its third fund at a remarkable $400 million. Known for combining venture capital expertise with a powerful media platform, the firm continues to solidify its position at the forefront of the startup ecosystem. 💰 The Fund Breakdown: - $125M allocated for Seed investments, ranging from $100K to $3M. - $275M dedicated to Series A investments, ranging from $5M to $15M. Backers of the fund include renowned institutions such as MIT Investment Management Company, Horsley Bridge Partners, and RIT Capital Partners plc. 🚀 The 20VC Difference 20VC operates three sub-funds: 20Sales, 20Growth, and 20Product—each supported by top-tier experts from global tech giants. These specialists actively assist portfolio companies in scaling and achieving their full potential. The firm's innovative approach extends beyond traditional VC, leveraging its media platform, which features in-depth conversations with prominent figures from the business and venture capital worlds, fostering a unique blend of investment and insight. 🌟 Key Team Members Harry Stebbings – Founder & Managing Partner Kieran Hill – Partner, Pre-Seed & Seed Paul Bonnet – General Partner, Series A & Growth This latest fund positions 20VC to further support transformative startups, enabling them to grow from the earliest stages to impactful global players. ✅ Looking to raise capital for your #VCfund?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments (Series A/Series B)?   ▶ Please use G+QUANT's link for inquiries and fund decks, or send your inquiry directly to [email protected] #VentureCapital #20VC #StartupFunding #SeedStage #SeriesA #VCNews #Innovation #TechInvestments #StartupEcosystem #Founders

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VC Industry Data coming out much earlier this year!!! Let us get you up to speed on: levels of fundraising, exits achieved; investment trends; sectors attracting the most capital; and so much more. Interested in joining us for the VC Industry Survey Launch and sharing your industry perspectives? Please register your interest below. See you there!

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Survival of the Fittest in a Shifting Funding Landscape Founders are adopting a low-key approach, focusing their energy on internal growth. Armed with capital secured in 2021, many are strategically revitalising their businesses. But the big question remains: What will the dealmaking landscape look like in 2024? "Overall, capital infusion will be concentrated on a narrower spectrum of companies than in all. The private capital raising landscape is anticipated to be robust, showcasing significant improvement from 2022. However, the capital infusion will be concentrated on a narrower spectrum of companies compared to the prolific scene of 2021." Read More: https://lnkd.in/d3536qvA In the meantime, share your thoughts! Are you a founder facing a funding crunch? How are you adapting your strategy? #StartupFunding #Founders #Growth #DealMaking #SibaPanda

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How much do founders pay themselves? A secretive subject with big implications: This week on 🌊 𝗦𝘁𝗮𝗿𝘁𝘂𝗽 𝗥𝗶𝗱𝗲𝗿𝘀 my friend Enzo Avigo from June.so takes us down the founder salary rabbit hole: 1. Founder salary benchmarks. 2. Founder financial rollercoaster management. 3. Reverse engineering exit success and patterns. Full article below, comment "interested" 👇 #tech #startup #compensation

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Developing an investment framework was one of the first things we did when starting Silence. Nothing is set in stone, but having this set of principles has proven to be really valuable throughout all the changes in VC markets over the last years.

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Remove the detailed roadmaps from your pitch decks. No VC will invest the time to go through all the milestones in your history and those in the future, with all the bullets providing details about each milestone. Far too early. VCs are not warm enough when they read your pitch deck. Put your detailed roadmaps into your data room and let VCs digest them after they had 1-2 meetings with you and ask for further material. If you think a roadmap could help to increase a VCs appetite, then only provide 3-5 high-level milestones on a slide that could be read and understood in max 10 seconds. Check my FundraisingCOUP program if you want to become a Top 1% fundraiser & get in touch with me if you're building a disruptive Future of Work & Learning startup and looking for Pre-Seed or Seed funding.

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