The Pan-European startup entity & October update from Isomer Capital
Imagine it’s 2035. Europe’s first trillion-dollar tech company, founded in a garage in Krakow, now employs 120,000 people across the continent. A pan-European team leads the world in quantum computing. Europe has become the home of the world’s most valuable and innovative businesses, and a magnet for top talent in robotics, climate tech, AI, manufacturing and beyond.
This might sound far fetched. But it doesn’t have to be – if we act now.
A standardized pan-european ‘EU Inc' corporate structure is essential for European startups. We have 6 weeks until the new EU commissioners start working on their agenda for the coming years.
Please join the many who have already signed and shared the petition, including founders of Stripe, Alan, DeepL, Remote, Rohlik, Supercell, Wise, and investors from Index Ventures, Atomico, and Sequoia.
Here is a snapshot of the top European funding rounds and exits in September:
347 funding rounds were completed in September
€4.2bn was invested into European Startups
53 exits occurred, 49 undisclosed, 4 were valued at €3.3bn
The UK raised €1.1bn across 68 deals
Isomer Portfolio Highlights
🇬🇧 Wayve, an autonomous driving platform, raises $1bn Series C
🇩🇪 Reverion, reversible power plant company, raises $62m Series A
🇱🇹 Ovoko, e-commerce for used cars, raises €20m Series B
🇦🇹 DeepOpinion, a process automation company, raised €11m Series A
🇩🇪 Reonic, climate tech SaaS, raises €13m Series A
🇬🇧 Anaphite, EV battery startup, raises £10.4m Series A
🇳🇱 Meatable, food technology company, raises €7.1m Grant
With that, let’s get on to the big events and what they left us with 👇
Milken Asia and SuperReturn
Thomas recently returned from a trip to Singapore and Taiwan, connecting with LPs and attending two major industry events—the Milken Institute Asian Summit and SuperReturn Asia. These platforms provided valuable opportunities to discuss the evolving venture landscape and to explore potential partnerships with family offices, institutional investors, and corporate venture arms.
A common theme encountered during the trip was the heightened interest in Europe’s venture landscape, particularly from Asian investors looking to diversify their portfolios. This aligns with the rising demand for fund-of-fund solutions, which can provide diversified exposure to high-growth companies while mitigating some of the risks inherent in direct investments.
Key themes discussed during the conferences:
Despite very attractive valuations, investors continue to avoid China, amid economic slowdown, real estate crisis, geopolitical tensions and capital outflows.
Many risks persist in the economy (debt level, geopolitical, wealth inequalities driving political instability) and the importance of geographical diversification.
AI will drive massive gains in productivity and lead to a new wave of company creation and innovation.
Natural disasters induced by climate change could represent up to 12% of global GDP in the coming years.
Liquidity bottleneck for PE, increased use of NAV financing, continuation funds and secondaries.
Looking Ahead
As we continue to build relationships in the region, we are excited about the opportunities on the horizon. This trip has reinforced the importance of staying connected with our LP network, adapting to their evolving needs, and fostering collaboration across geographies.
Whether it's a family office diversifying its portfolio or a corporate venture arm seeking strategic synergies, we are committed to helping our LPs navigate the complexities of venture capital investment with confidence.
Isomer in the News
ION Analytics: Joe Schorge, Managing Partner of Isomer Capital, on secondaries trends in venture capital
EUVC: Mid Year Review 2024: European Fundraising Sentiment with Chris Wade, Isomer Capital
EUVC: Achievement of the Year Finalist: On resilience and making difficult decisions - Tour Radar story
Isomer Report: Commercial Opportunities for Venture Capital with Artificial Intelligence
EUVC: The deep dive on Isomer's 100M€ Secondaries Fund with Joe Schorge and Omalade Adebisi
SuperVenture Interview: What's Hot in European Tech?
European VC Awards Interview: Celebrating excellence in venture capital: The European VC awards!
Vestbee: Chris Wade, Founding Partner of Isomer on Mastering the VC game
Upcoming events
🇫🇷 WVC: E (Paris, 7th-8th October) - Chloe will be participating in an LP panel covering the topic "What is in store for the next 12 months"
🇳🇱 Road Trip (Amsterdam, 21st October) - Joe, Chris Chloe, and Laura will visit portfolios and GPs in Amsterdam.
🇩🇪 Road Trip (Essen, 22nd October - 23rd October) - Joe, Chris, Chloe and Laura will visit LPs in Essen.
🇬🇧EVCMF (London, 23rd October) - Isomer event for emerging managers. Fireside Chat and Q&A with Staffan Helgesson, co-founder of Creandum, topic focused on learnings from established VCs.
🇬🇧 Funding Venture Conference (London, 24th October) - Chloe and Joe will attend meetings with Family Offices, LPs and the next generation of VCs.
🇫🇷 INPHO Venture Summit (Bordeaux, 24-25 October) - Chris will be speaking at this deep tech event.
🇩🇪 Global Corporate Venturing (Frankfurt, 29th October) - Chris will attend a panel on CVC.
🇦🇹 Micro GP Summit (Vienna, 4th November) - Chloe will be attending and meeting VCs.
🇫🇮 Slush (Helsinki, 20th November – 21st November) - Chloe, Joe and Harry will be attending and meeting VCs and LPs. Chloe is judging the RAISE: Emerging Manager pitch event.
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