In this episode, David Cruz e Silva sits down with Andre de Haes, founder of Backed VC, live from SuperVenture 2025 in Berlin.
Backed is one of Europe’s boldest early-stage funds, known not just for investing in frontier tech but for pioneering a new model of VC community. In this conversation, Andre unpacks the philosophical and practical foundations of their work—from turning a value-add into a moat to why “edge” in venture is mostly a myth—unless you build your own rules.
Who should listen:
Emerging managers figuring out how to build true differentiation
LPs trying to evaluate durable edge in a saturated VC market
Founders deciding what kind of capital partner they want long-term
Here what’s covered:
00:00 Who is Andre de Haes & What is Backed VC?
00:32 Frontier Tech Focus: Fintech, Bio, and Manufacturing Software
01:30 Why Community is a Core Offering—Not a Side Show
02:15 Behind the Scenes: The SuperVenture Speaker Dinner & Rooftop Surprise
04:00 Playing the Long Game: Trust Built Over 20-Year Cycles
05:08 Stage Preview: What it Means to Build VC Edge
07:50 Advice for LPs on Identifying Real Differentiation
10:50 Biggest Learnings: Humility, Leverage & Contrarian Courage
15:00 Investing at the Frontier: Computational Bio, Optics & Non-Invasive Brain Tech
16:00 What Munger & Buffett Teach Us About Capital Efficiency in VC
Watch it here or add it to your episodes on Apple or Spotify 🎧. Chapters for easy navigation are available on the Spotify/Apple episode.
💡 Key Takeaways
The Backed VC Model
Backed focuses on three frontier verticals where Europe can win globally:
Fintech & Blockchain Infrastructure
Computational Biology
Manufacturing Software
Each vertical has its investment team, angel network, and event series—underscoring a deeply thematic approach.
More Than a Fund: Community as Infrastructure
Backed hosts 40+ events a year—from intimate offsites with unicorn founders to 300-person parties alongside SuperVenture. Their belief: community builds trust faster than formal pitch meetings.
“We don’t want founders to just choose us because of the money—but because they want to belong to this tribe.”
What Gives a VC Real Edge?
Andre is brutally honest: “Most VCs don’t have edge. They look for it in startups, but don’t have it themselves.” To him, true edge means:
Playing by a different set of rules
Committing for decades (not just one cycle)
Earning a 97% win rate on term sheets by delivering real, non-obvious value
Advice to LPs: Find the Signal in the Noise
Don’t be fooled by surface-level differentiation. Real edge is:
Durable (not easily copied)
Authentic (aligned with the fund’s DNA)
Measurable (e.g. win rates, founder referrals, unique sourcing channels)
“If you can’t say ‘we’re the best in the world at this,’ it’s not edge. It’s noise.”
Contrarianism Pays—If You Can Withstand the Silence
Andre shares how their best deals came from early, conviction-led bets:
20+ investments in computational biology when no one else was paying attention
Coal Mine: non-invasive brain monitoring tech that once seemed “out there”
A long-game mindset that required being “prepared to look stupid” for years
Operational Scaling Lessons
With 90+ portfolio companies and 60 LPs, Andre highlights the importance of building internal leverage:
Systems, automations, and delegated workflows
Team built for execution (COO, finance, events, portfolio ops)
“Your calendar is your most honest autobiography.”
🧠 Lessons from the Journey
Venture is humbling: Prepare to be wrong often, and stay hungry.
Momentum is seductive—but dangerous: Their worst deals were “me too” FOMO rounds.
Systems beat heroics: You can’t scale excellence without process.
Great companies look stupid at first; that’s the point.
Dario combines deep institutional, operational, and investment expertise, investing in early-stage companies and funds. Recognized as a "40 Rising Star under 40" by VCJ, he actively contributes to the industry.
Before founding LTV Capital, Dario co-led fund investments at Anthemis Group, a top fintech investor, where he developed early-stage fintech plays with BBVA and pioneered a media-financial services fund. His background also includes spearheading international expansion at emerging markets fintech JUMO and contributing to the creation of ROAM, now Africa's largest classifieds group.
Academically, he holds a Master of Business Science in Finance from the University of Cape Town; his dissertation on "Tencent Holdings Limited" is widely downloaded and cited.
Outside of work, Dario is a former 125cc motorcycle racing champion who now advises the Finetwork Mir Racing Team, supporting young talent in motorsports. He is driven by a passion for empowering others and fostering change in the emerging manager VC ecosystem.
↓ Register below to attend on July 15th↓
Share this post