The challenges of working with corporate investors & 3 days left for the State of European Tech
Learn directly from Redstone, Atomico, byFounders, identity.vc and other leading European VCs.
Today's email is packed with great insights. To kick things off, we’ve got two in-depth deep dives for you:
And then we’ve some amazing new submissions on the community insights platform we wanna share with you:
Why social impact investing needs a radical rethink for true change
On Fragility & Efficiency with Magnus Hambleton, Investor at byFounders
Introducing the first end-to-end AI platform for the VC workflow
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Redstone's Samuli Siren on building a succesful VC fund and the challenges of working with corporate investors
In this episode of the EUVC podcast, Andreas and our in-house CVC expert, Jeppe Høier, are joined by Samuli Siren, CEO of Redstone, one of Europe's most successful venture capital firms.
Together, we’ll dive deep into Redstone’s approach to corporate venture capital, exploring how they’ve built a portfolio with around €600M across ten different funds. Redstone specializes in Series A rounds and is headquartered in Berlin, focusing on DACH (Germany, Austria, Switzerland) and global markets—particularly the U.S.
Redstone's focus spans multiple sectors, though always with a digital and B2B edge. Some of their standout investments include PlanRadar, Liqid, Psy, Finanzguru, Atlas Metrics, and Yoto. With Samuli, Redstone has excelled in attracting corporate investors, making his insights invaluable to anyone looking to understand how to raise capital from corporates.
Watch it here or add it to your episodes on Apple or Spotify 🎧 chapters for easy navigation available on the Spotify/Apple episode.
✍️ Guest’s show notes
We believe in giving you our guests' thinking directly and unaltered. Therefore, no changes, no AI, no nothing has been done to the following sections.
Principles and learnings for building Redstone VC
Own Values of being an Entrepreneur. Great company is when the employees can make the most out themselves, this will be a win & value add for the clients -> leads to revenue and value creation
CEOs job is to create an environment, where the employees can perform. I’m serving them, not the vice-versa,
Corporates are looking to learn and gain access. They operate in Quartals and VC (CVC) is always the nice-to-have project. Challenge is, how to make impact in a corporation?
What learnings would you say have been pivotal for you on this journey?
How to gain a long term commitment from corporates? Instead VCasaS, classic GP-LP mode.
People don’t pay much for data.
Create early impact
Deep Dive on your latest raise and how you work with CVCs
Takes always much longer than you think. Regulatory is pain and slows down everything enormously
Fastest commitment, 30m in 35 minutes
Slowest: 1m in 12 Months
Don’t they, you have to meet people 7 times to convince
How did the last raise for your fund differ from prior raises before the tech reset?
Example our Fintech 3 fund. 70% from old investors, closing planned end of the year, 1st closing minimum already reached,
Pre Reset, we were rather newbies in GP-LP so not a good comparison
What were the three things that allowed you to be so successful?
Endurance
Usage of my network
Amazing support from our shareholders and mentors
The team, partners, family - their commitment, attitude and believe in me
Core learnings from your last Corporate LP raise, and what makes you successful in raising from Corporate LP’s?
For sure our speciality are the banks. We have a good concept, but more so we understand in detail their regulatory and accounting challenges and can solve the issues raised.
Capital allocation plans are something to understand
A look at the person behind – Samuli Sirén.
Passionate entrepreneur – it’s like sailing, you’ve arrived while sailing, not in a harbour.
Positive thinking and endurance
Balance in life between family-myself-job - > creates satisfaction
AND, Redstone is not a job form, it is a way of living
Advice to young people in the CVC industry.
Learn how to sell, it is psychological game – you will need it always
Humor is a good instrument to use
Learn to listen (in detail and what behind, what somebody says)
Most counterintuitive learning.
Innovation and digital are not always very high prioritization, although they change the world
Internal ”crappy” teams win against external professionals
Founder of a corporate is the only entrepreneur there
3 days left for the State of European Tech survey!
Time is running out! There are only 3 days left to contribute your insights to Atomico’s State of European Tech 2024 report.
This annual report is the definitive resource for understanding the trends, challenges, and opportunities shaping European venture. Whether you've used past editions in your own pitch decks or to stay informed about the latest developments, this is your chance to make the next report even more impactful!
It takes just 5-7 minutes to complete, and by doing so, you’ll also enter for a chance to win some fantastic prizes, including tickets to Slush, the world’s biggest and most founder-focused VC event.
Your voice can help shape the most complete snapshot of European tech yet!
Be part of it!
Why social impact investing needs a radical rethink for true change
Guest post by Til Klein, Founding Partner at identity.vc. | Originally published on Linkedin.
Everyone is talking about ESG investment. But let’s be honest: most of the excitement is focused on the “E”—the environment. Billions of dollars are flowing into climate tech, clean energy, and sustainability initiatives, creating a tidal wave of innovation. Meanwhile, the “S” for social impact remains in the shadows, struggling to gain momentum.
But I’m not talking about charitable causes or philanthropic efforts. I’m talking about economically motivated investments aimed at driving real social change. Social impact, in this context, is about creating fair representation for minorities and equal opportunities for disadvantaged groups. It’s about ensuring that women, LGBTQ+ individuals, immigrants, and people with disabilities have the same opportunities in the economy as everyone else.
Yet, despite the urgency and potential for transformation, social impact investing lags far behind green investing. So why isn’t social investing taking off?
Fragility & Efficiency
Guest post by Magnus Hambleton, Investor at byFounders. | Originally published on Analog Mantra.
I am increasingly worried about the tradeoff between robustness and efficiency of systems and what the effect of this will be on our society. This is a continuation from my thoughts on Fragility and Boundary Conditions.
Efficiency tends to increase fragility
As you optimize a system, you tend to make it more fragile in the process. There are lots of reasons for this, and plenty of examples, so I’ll choose a few illustrations. Many people have noticed this pattern before of course, e.g. Nassim Taleb
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🤗 Join the EUVC Community
Looking for niche, high-quality experiences that prioritize depth over breadth? Consider joining our community focused on delivering content tailored to the experienced VC. Here’s what you can look forward to as a member:
Exclusive Access & Discounts: Priority access to masterclasses with leading GPs & LPs, available on a first-come, first-served basis.
On-Demand Content: A platform with sessions you can access anytime, anywhere complete with presentations, templates and other resources.
Interactive AMAs: Engage directly with top GPs and LPs in exclusive small group sessions — entirely free for community members.
🧠 Upcoming EUVC masterclasses
Advanced small-group sessions that take you from good to great. Lectured by leading GPs, LPs & Experts.
EUVC Masterclass: Marketing & VC Fund Narrative
Your brand is everything. It’s what sets you apart, helps you win the best deals, attract LPs, and ultimately drive your growth. For emerging fund managers, building a credible brand and establishing the right marketing foundations early on are game-changers. Yet, many don’t know where to begin.
Your fund’s narrative is what makes the difference between an LP glancing at your deck or deciding they’re ready to write a check. It’s your brand that makes LPs feel confident they’re partnering with someone who knows how to make magic happen.
We’re planning a masterclass on building strong marketing foundations with a top industry leader. If enough people show interest, we’ll make it happen.
EUVC Masterclass: Comprehensive Portfolio Modelling
Lecturer: Marc Penkala, Co-Founding Partner of āltitude
When: 📅 Thu, Oct 24 | 10:00 AM - 1:00 PM CET | London, UK
This exclusive in-person masterclass integrates three key aspects of Venture Capital Fund Modelling: Fundamentals, Assumptions Sheet Construction and Portfolio Construction & Decomposition,
Led by Marc Penkala, Co-Founding Partner of āltitude and advisor to multiple European Family offices and VCs, this masterclass will be delivered in a small-group setting with just 15 seats available, providing a rich opportunity to discuss, exchange perspectives and do hands-on work with the provided material and resources.
Got ideas or requests for future topics to cover? Let us know here.
🗓️ The VC Conferences You Can’t Miss
There are some events that just have to be on the calendar. Here’s our list, hit us up if you’re going, we’d love to meet!
0100 Conference Mediterranean | 📆 28 - 30 October | Milano, Italy
culttech summit | 📆 5-6 November | Vienna, Austria
GoWest | 📆 28 - 30 January 2025 | 🌍 Gothenburg, Sweden
GITEX Europe 2025 | 📆 23 - 25 May 2025 | 🌍 Berlin, Germany