Jacob Fonnesbech Aqraou

The latest update from the research team at Primal Capital explains the importance of wallets in the Web3 ecosystem and highlights the evolution of solutions in the market today. These solutions provide greater utility compared to the original Web3 wallets, which was simply to safeguard assets from centralized platforms.

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I recently had a chance to speak to Martin Luenendonk at his Startup Fundraising Mastery Podcast. We discussed some interesting facts and stories regarding Taver Capital Partners portfolio companies. For example, we talked about EARTH AI as a success story of #industrial AI and recapped some of its recent achievements in mining. We also covered Four Growers, Inc. and iFarm as examples of agritech that also are doing great and have a huge potential. Additionally, we talked about why heavy industries have yet to be disrupted by AI, and why this is one of the greatest opportunities today. Last but not least, I shared some insights regarding how I decide whether to invest in a startup or not, my outlook for the future of Taver Capital, #investment plans for Fund II, and some advice for #founders to help them secure investments. You can find the full recording here: https://lnkd.in/djm6T_RC

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Welcome ecoLocked to the Climentum Capital portfolio! We are proud to have led the €4M funding round together with Matterwave Ventures, and delighted to have existing investors Counteract, Startup Family Office, Sabancı Building Solutions, and VOYAGERS.io joining the round. The investment will support ecoLocked’s mission to revolutionize the construction industry with carbon-negative building materials. Concrete production accounts for 8% of global CO2 emissions, making innovations in this field crucial for achieving net-zero goals. ecoLocked is leading the change by converting carbon captured from biomass into functional, carbon-negative building materials. This funding will accelerate ecolocked's efforts to turn buildings into carbon sinks, scaling their innovative biochar-based solutions and enabling 1Gt carbon removal by 2040. Doerte Hirschberg Morten Halborg Stefan Maard

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WSJ reporting Foundational Model company Mistral is raising $600mm at a $6 Billion Valution. For VCs goes to show Foundational Models are a big boys game with hundreds of millions if not Billion + needed to be raised to be competitive. But I wonder longer term if these are + ev bets or simply a way for the blue chip VC firms who have raised billions for their new AI funds to deploy massive amounts of capital in low-risk low-return bets. The more interesting companies are still worth $50 million or less but; 1. Finding them is hard 2. Check sizes are by definition smaller so for big VCs won't move the needle 3. The risks of failure are extremely high But that is where the highest expected value lies.

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You will never retain great companies when your stock market is perceived as unattractive. LSE has a chronic lack of liquidity. Of the $11.9 billion raised via IPOs in Europe this year, just over 2% was in the UK—the lowest in decades, according to data compiled by Bloomberg. This compares to an average share of 31% between 2012 and 2023, the data shows.

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“VC funding is now a rare and expensive commodity, and founders are being encouraged to focus again on business fundamentals and capital efficiency. As a result, Venture Debt is now a topic of discussion in most Board meetings, and almost every Startup that’s raising institutional capital (seed to Series D) is thinking about Venture Debt as a meaningful addition to their capital stack.” These are timely and important conversations to be had by founders, management teams, and early investors. And it’s encouraging to see demand for debt continue to increase. But it’s not hard to see why. What’s happening in the industry now can be attributed to a few factors: ✔ We are experiencing a recalibration from the “easy money” era of high valuations. Many venture equity providers are now essentially hoarding capital and waiting for cap tables to self-correct to reasonable levels. ✔ Equity is expensive, especially for late-stage companies. Venture debt has become a more compelling alternative to equity dilution for companies that want to avoid a down round. ✔ Founders are realizing that venture debt is not rescue financing. Rather, companies with consistent revenue and a clear path to profitability are increasingly seeing debt as a means of propelling further growth. While no one can predict the future, we’re very optimistic about the role that debt can (and will) play for late-stage startups throughout the remainder of the year and beyond.

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🌟 Interesting yet unsurprising findings from the latest VC performance report: 📈 Established European venture capital funds (fund 5+) are delivering 2x the IRR of New (fund 1-2) and Developing (3-4) funds. 🌍 European VC funds consistently outperform their US counterparts, underscoring Europe's strength in the global investment landscape. Read the article at sifted https://lnkd.in/eZYF4THT

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A good dataroom makes a great impression, but is not that obvious what that looks like and what consumer VCs are looking for! Having gone through hundreds of these at dmg ventures and seen the good, the bad and the ugly we want to help entrepreneurs putting their best foot forward. So Taos Edmondson, CFA wrote a great piece on how B2C founders can build data rooms that investors will love. Have a read!

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At our VC firm, we don't just fund companies, we fund your existential crises. Every investment comes with a complimentary philosophy book. #vc #startups #investment

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Very intriguing insights on the resurgence of startup growth following a period of caution and scaling back by VCs over the past 2+ years. Is now the opportune moment to initiate scaling, recruitment, and drive for expansion? #StartUps #BusinessGrowth What are yout thoughts? is the reawakening happening? is it too early? Do you agree?

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The challenge of growth is a challenge of energy. According to Copenhagen Economics, Population and GDP per capita are likely to grow by 20% and 90%, respectively by 2040.  Demand for energy services would grow by 50% or more, driven by urbanisation, industrialization, infrastructure build-out, and a growing global middle class. Energy intensity will continue to improve by up to 75% by 2040, driven by ongoing structural shifts to less energy intensive economic activity and improving technology. In spite of that, energy demand will still increase by 30-60% if developments follow the trends seen in the past. The current energy system is highly carbon intensive : coal, oil, and natural gas provide 85% of all energy.   To meet these challenges, the « all or nothing » scenarios are for no use. Fossil fuels won’t be replaced overnight. The economy will then have to combine for a long time an optimized utilization of fossil fuels with a fast growing H2 adoption.  #energytransition #growth #H2

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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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Standing before the tiger, a symbol of strength and courage, I feel the weight of my mission deeply. Each step forward represents bold progress, and every decision lays the groundwork for the future. 🌟🐯 On the global capital markets stage, opportunities and challenges intertwine. As a dedicated professional helping companies list on Nasdaq, I understand that success requires not only wisdom and strategy but also unwavering faith and relentless effort. 💼📈 Every bit of support and trust fuels my drive. Let's stand together, bravely facing every challenge that comes our way, and create a brighter tomorrow together. 🚀✨ #Nasdaq #EntrepreneurialSpirit #InnovationDriven #CapitalMarkets #GlobalVision

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Innovations are happening less and less within companies and more in so-called innovation clusters as part of open innovation initiatives and collaborations between established companies and startups. 𝐁𝐫𝐢𝐝𝐠𝐢𝐧𝐠 𝐜𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐬𝐭𝐫𝐞𝐧𝐠𝐭𝐡 𝐰𝐢𝐭𝐡 𝐬𝐭𝐚𝐫𝐭𝐮𝐩 𝐚𝐠𝐢𝐥𝐢𝐭𝐲 𝐬𝐞𝐞𝐦𝐬 𝐭𝐨 𝐛𝐞 𝐭𝐡𝐞 𝐦𝐚𝐠𝐢𝐜 𝐟𝐨𝐫𝐦𝐮𝐥𝐚 𝐟𝐨𝐫 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧. That's why I'm thrilled to announce that Arno Baltruschat, Co-lead at OTTO DOCK 6, will join us at this year's Project A Knowledge Conference (short PAKCon) and give a keynote at the management hive with the title "𝐕𝐞𝐧𝐭𝐮𝐫𝐞 𝐂𝐥𝐢𝐞𝐧𝐭𝐢𝐧𝐠 - 𝐒𝐮𝐜𝐜𝐞𝐬𝐬 𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐨𝐟 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 - 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧𝐬". His keynote will be followed by a vibrant panel discussion about collaborations between startups and incumbents, moderated by Anne Decker from wattx and Maschinenraum. Other confirmed keynote speakers at the management hive are Nina Michahelles from Google, Miriam van Straelen from Roland Berger, Dr. Alexander Mrozek from Oetker Digital, Sebastian Herzog from hy – the Axel Springer Consulting Group, and more to come! This year, PAKCon takes on a new format. Instead of one single event, we will have ten content-specific hives throughout the day, culminating in a grand convention and the legendary party at night. Over 1,400 people have already applied for tickets, so don't miss out—apply now for the management hive 𝐚𝐧𝐝 the convention/party. #ventureclienting #openinnovation #innovation #pakcon2024 #managementhive 

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I'm speaking at SuperVenture 2024 on the 5th of June in Berlin. The topic of the panel is emerging VC managers: time to shine or out of their depth? Are LPs fleeing to established names and those that cut their teeth during previous cycles? Or is now the time for emerging managers to bring something different to the table? Is volatility leading to true innovation and disruption? We’re on track to see approximately 44% of the total LP capital committed to US VC funds since the start of the year go to just two large established VC platforms, according to PitchBook data. While many established VCs maintain their allure, there is a subset of LPs who are making a deliberate choice to increase their allocations to specialist emerging VC managers - managers who have spun out from established funds and have an attributable track record, founders with deep operational experience turned funders or academics with deep domain expertise. There is non-trivial added complexity when it comes to emerging VC selection – given the large number of funds needed to be screened and the more complicated referencing and DD process. Data highlights how important it is for GPs to identify & back ‘big winners’ early on to drive fund returns. Typically, ~5% of invested capital in a few winners drives most of the return (>50%). The VC model is built around investing in early-stage companies each with the potential to more than return the whole fund. Who has the right to win? Who will the best founders (and LPs) decide to partner with? #SuperVenture #VC SuperReturn

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It is great to see the validation of the femtech category out of Europe with Flo Health Inc.- the recognition of its market size and growth capital of this magnitude from the leading GP General Atlantic. Category leadership is the name of the game in VC/growth as is gaining "unicorn" status. I am so keen to see change: change in diversity at GPs and retention, in the deal funnel/female category and capital allocation parity for females/diversity founders. Female health has been underfunded and under researched and I am 50% of the population that takes medication based on male clinical trial data and have been on my own clinical trial journey for TED (auto-immune diseases are more prevalent in women). Artemis Women's Health Foundation is a great place start to learn more about this topic! In this case we have a "win" for femtech funding, but also some contention. If the CEO had been female, would she have been able to raise this capital? There is still disparity in funding female entrepreneurs and senior leadership due to gender norms and because deal funnels are mostly overseen by males. Would capital parity not enable more innovation in femtech/female health, more female leadership and how is male allyship best constructed to change bias and reduce the pay and wealth gap? More important data on this from Anna-Sophie Hartvigsen://https://lnkd.in/guGihqWh #femtech #startups #VCFunding #europeanwomeninvc #sifted #femalehealth

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It is ironic that VC funds invest in the newest technologies but do not adopt cutting edge technologies at all. Well, thanks to people like Dr. Andre Retterath and the Data-Driven VC, this is changing. We at Mindset Ventures are proud to be in such a prestige group of funds which is taking this leap forward. https://lnkd.in/eq9GvNcE #DDVC #AI #venturecapital #technology

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How do we make investment decisions at Scalebridge? 👀 This is a common question from founders and investors. 💬 To shed light on this opaque process, we are launching 𝗙𝘂𝘁𝘂𝗿𝗲 𝗼𝗳 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗲𝘀 newsletter. Naturally, we kick things off with our investment theses. 🔮 🚀 𝗔𝘂𝘁𝗼𝗻𝗼𝗺𝗼𝘂𝘀 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 is a key investment thesis at Scalebridge, expected to redefine the tech landscape over the next decade. 🌟 The potential immense opportunity, with >$𝟱 𝘁𝗿𝗶𝗹𝗹𝗶𝗼𝗻 𝗶𝗻 𝘀𝗽𝗲𝗻𝗱 up for grabs. ❌ Traditional digital transformation, despite heavy investment, has a failure rate exceeding 70% 𝗧𝗵𝗲 𝗰𝗼𝗻𝘀𝘂𝗹𝘁𝗮𝗻𝘁-𝗱𝗿𝗶𝘃𝗲𝗻 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝘁𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗺𝗼𝗱𝗲𝗹 𝗶𝘀 𝗯𝗲𝗰𝗼𝗺𝗶𝗻𝗴 𝗼𝗯𝘀𝗼𝗹𝗲𝘁𝗲, due to its rigidity and complexity. 🦾 Autonomous Transformation leverages data, workflow automation, and AI to achieve strategic goals with minimal manual interference. It allows for real-time autonomous decision-making and process adjustments, directing human efforts towards strategic management. 💸 The convergence of services and emerging technology capabilities has created 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 𝗳𝗼𝗿 #automation 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 to lead the future of Autonomous Transformation. These automation companies are poised to replace traditional IT services and consultancy, addressing accumulated technological and process debts. ❓𝗙𝘂𝗹𝗹-𝘀𝗰𝗮𝗹𝗲 #autonomoustransformation 𝗶𝘀 𝗮 𝗺𝘂𝗹𝘁𝗶-𝗱𝗲𝗰𝗮𝗱𝗲 𝗷𝗼𝘂𝗿𝗻𝗲𝘆, facing key challenges including limitations of #AI, #data quality & governance issues, and intricate enterprise #workflow. 💫 𝗔𝗹𝗹-𝗶𝗻 𝗼𝗻 𝗔𝘂𝘁𝗼𝗻𝗼𝗺𝗼𝘂𝘀 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝘁𝗵𝗲𝘀𝗶𝘀 𝘀𝗶𝗻𝗰𝗲 𝗗𝗮𝘆 𝗢𝗻𝗲. A new wave of automation startups is spearheading #autonomoustransformation, replacing traditional consultancy and IT services. The future is here! Check out our investments: Versori, Spendkey, Garvis (exited), Trusstor. 📥  https://lnkd.in/ehUh6eiW #Automation #Scalebridge #thesis #VC #emergingmanager #founder

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Venture capital investors are going through a tough time with fundraising, and US GPs are getting hit particularly hard. In the first quarter of this year, a meager 100 VC vehicles closed, worth a total of $9.3 billion, according to the latest PitchBook-NVCA Venture Monitor, with last year seeing the lowest fund count since 2015. On a percentage basis, the number of closed VC vehicles in the US fell further last year than in Europe, Asia and Africa. US-based LPs are still feeling the impact of the imbalance in their portfolios from the public market downturn over the past couple of years. Additionally, the lack of capital being returned to LPs due to muted exit activity for VC-backed companies has meant that for some, putting more cash into VC is not an attractive option. #investment #VentureCapitalists #fundraising #funding #fundmanagers #Generalpartners #limitedpartners #USFunds #familyoffices #EUfunds #institutionalcapital #GPs #LPs #VCs

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