Alex Hersham

GREYKITE ACQUIRES €350 MILLION EUROPEAN LOGISTICS PORTFOLIO. We are excited to announce this strategic investment into the European logistics space. https://lnkd.in/eX6sQeHc GREYKITE Michael Abel Dan Valenzano

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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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During a recent round table I participated in, the topic of the day—AI—was naturally a key focus. A common perspective emerged: while there’s nothing AI does today that humans couldn’t achieve through brute force, the real value of AI lies in how it transforms productivity and enhances customer satisfaction and service quality. This is exactly why we are excited about AI-enabled businesses like Fin Sustainable Logistics. Fin leverages AI for route optimization, creating a seamless end-to-end delivery experience for consumers. It’s a perfect example of how technology can drive both operational efficiency and customer satisfaction. With their recent $7M seed funding round, Fin is set to revolutionize urban logistics. From scaling their zero-emission fleet to expanding operations globally, they are shaping a more sustainable and efficient future for last-mile delivery. At Pearls Capital, we’re proud to support Fin on this incredible journey. Here’s to building a smarter, greener future—one delivery at a time! 🚀 Thrilled to see what’s next for this incredible team! #Sustainability #AI #UrbanLogistics #Innovation #GreenerFuture #LastMileDelivery #TechForGood

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TLDR: EIS should be scrapped as a fund structure but retained for Angel investments by individuals. Alex Chalmers has done all the work which in 10 years I've never got around to doing: why 95% of EIS/VCT funds are bad for our tech ecosystem, rip #startups off, and why as a Founder you should push back against their stupid fees or not take their money. https://lnkd.in/dnq9ZScS

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"Funding Collapse sends investment in start-ups to six year low" The Times today covering the shocking stats that VenturePath uncovered, with our partner Beauhurst. Great quotes from supporters Michael Moore CEO, BVCA and Julian David CEO, techUK. * UK VC funding at Series A is -44% from last year, and worsening * Q3 24 is down a staggering 57% from Q2, itself down from Q1 * 9 in 10 seed funded startups cannot access Series A VC funding, the next 'rung on the funding ladder' * Just 32 future scaleup companies across the whole of the UK were able to access their first VC funding round in Q3...a 6 year low * Half a billion less capital is going in to UK scaleups at Series A, than just 2 years ago! As the UK scaleup funding gap widens, we are losing ground against other countries, at both startup stage (a position the UK worked hard to achieve, since 2011), and for scaleup support. OECD data: 13th in the world for scaleup support, and that's before Series A funding access dried up. I get that its confusing. Another report (BBB, Nations & Regions) released this week spoke of positive trends in private investment, stating "The data for Q2 2024 shows that investment value has continued to grow". Great, I love to see optimistic data. But under analysis that bundles venture with private equity (later stage), where a few megadeals skew the numbers. Otherwise the exact opposite is true. Our independent research here, for the UK ScaleUp Investment Mission, is laser beam focussed on Series A. The funding round where companies move from the c.1m startups launched each year, through the 2,179 that access seed funding, into the rarefied category of being recognised as future scaleups, attracting Series A funding (£2-10m). The UK venture landscape is currently funding just 248 pa of these companies, and declining. We've been sharing this urgent call for support with the new Government since the day after the election. I've personally met with several Ministers, and spoke to all the relevant Government departments. I will shamelessly repeat loudly what is at stake. UK scaleup funding at Series A has nearly halved in a year, and continues to decline steeply, more than halving in the last quarter. VenturePath developed The UK ScaleUp Investment Mission to convene the scaleup support ecosystem and £7bn of funders to help address this problem, to improve nationwide access to VC investment, and create more venture-backed successes. We have clear support, clear recommendations to reverse this decline in UK scaleup investment, and have made a clear ask of Government for participation in this, to ensure immediate action is taken to create the conditions for success for UK scaleups, ensuring the focus on growth isn't undermined by lack of capital, or equitable access to it. Government decision makers, we'd love your interest, to progress to action. HM Treasury: Rt Hon Rachel Reeves Spencer Livermore James Murray & CC Poppy Gustafsson (welcome to the debate).

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When the first alphabet in these conversations changes from 'M" to 'B', you know the funding winter is transforming into spring 🌱 #VC #VentureCapital #Earlystagefunding Read more about the latest monthly funding report for VC funding in July 2024 here: ttps://https://lnkd.in/dhdWF8fP

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VC firm Norskenn22 plans to invest in 20 African startups by the end of 2025, per Bloomberg. The firm has already backed six African startups so far, including South African neobank firm Tyme Group. Norskenn22 has three more investments already lined up. The VC firm secured $205M in capital commitments towards its Africa-focused fund last year, which aimed to back “lean-tech solutions,” including software, web-based platforms, and artificial intelligence. The fund is a joint initiative between Northzone Ventures’ partner Hans Otterling and Niklas Adalberth’s Norrsken Foundation. Norskenn22 has backed startups across South Africa, Nigeria, Kenya, and Egypt. Per the African Private Capital Association, VC funding inflows into African startups slumped by 31% YoY in 2023 to $4.5B due to rising inflation and weakening local currencies.

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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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🌍 African Venture Capital: A Path to Recovery? 🔎 In the past two years, African VC has experienced a sharp decline, with funding dropping from $6.5 billion in 2022 to $4.5 billion in 2023, and just $780 million raised in the first half of 2024. The retreat of international investors, especially from North America, coupled with rising global interest rates, has led to a significant funding crunch -particularly at growth stages. However, this market recalibration presents an opportunity. African startups must now focus on profitability and sustainable growth, rather than simply scaling. At the same time, building local capital markets and expanding the investor base will be critical for the ecosystem’s long-term resilience. Emerging sectors like climate tech are showing promise, but a strong regulatory and infrastructural foundation is key. As inflation cools and potential interest rate cuts loom, will we see renewed foreign interest? More importantly, can the African venture ecosystem adapt to ensure sustainable, long-term success? If you want to dive deeper into this topic, read the full article : 👉🏾 https://rb.gy/eht33d #Investissement #PreSeed #Entrepreneuriat #LevéeDeFonds #Webinaire #Finance #Angelinvesting #Africanentrepreneur #Businessangel #Africaninvestor #Afropreneur #Venturecapital #Seedfunding #Africanstartup #Startup #Africanstartup

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Want to know the savage reality of securing your first angel investor? Finding that first angel investor demands relentless perseverance, a vast amount of time, and an aggressive, multichannel strategy. You must ask everyone—your friends, your family, strangers on the internet, people at the pub where you’re having a pint. You never know who will be the first to believe in the team, embrace the idea, and see the potential. Sure, there are platforms that claim to assist, and consultants who promise monumental raises, but nothing beats personalized outreach on a colossal scale. My ultimate advice? Never, ever give up. No matter how tough it gets, how bleak it looks, or how empty your bank account is—KEEP PUSHING. (Pictured, Watson and I doing our daily outreach)

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Welcome to the club! At Antler, we are proud to announce that we have just invested over £1m into nine new British tech startups. Our tenth residency in the UK attracted more than 1,100 ambitious founders, with 66 founders taking part. Representing 27 different nationalities, with women comprising 24% of the cohort, it was truly a diverse group of amazing people. Spending 10 weeks with us allowed us to undertake over 200+ hours of due diligence, helping us make high-conviction investment decisions, in which we end up investing in 1% of all applicants. We are delighted to welcome the following eight startups to Antler’s portfolio, and we’re excited to be on this journey with you! ⚙️ AlphaLoops - Automating investment management operations using AI ⚠️ BankBridge - Bridging the due diligence gap between financial institutions 🔎 Capsa AI - AI Operating System For Private Equity 📝 Falco - powered platform that empowers financial firms to identify and translate regulatory changes into actionable insights 🚚 Fleevo - The AI-driven Operating System for Modern Commercial Fleets. Driving Efficiency, Uptime, and Sustainability 🛍️ frnt - Optimising retail operations with digital workers 🎯 Intriq - Transforming businesses with the power of AI through the use of private equity playbook strategies 🦾 RoboMinder - Elevating industrial robot uptime with AI-powered computer vision In addition, Antler has made one seed investment in the first quarter of 2024, into a tech startup that is currently in stealth mode. Check out the press release in the comments section! #VentureCapital #Investments #Founders #TechStartups

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🌟 Record-Breaking Fundraising in July 2024! 🌟 As hinted in last week’s post from Africa: The Big Deal, July 2024 has been a remarkable month for fundraising among start-ups on the African continent. Here's why this month stands out: 📊 $420 Million Raised! 🔸 Highest monthly performance in 14 months. 🔸 Surpassed the entire Q2 total. 🔸2.5x the average monthly amount raised over the past year. 🔸Best July on record since 2019, by a significant margin. 🚀 Highlights: 🔸 47 ventures raised at least $100k. 🔸 Second-best month this year after May. 🔸 16 of those ventures raised at least $1m, matching the H1 monthly average. 💸 Mega Deals: These three deals account for 90% of the funding raised : 🔸 d.light's $176 million securitization facility. 🔸 MNT-Halan's $157.5 million raise. 🔸 NALA's $40 million Series A. 🔄 Exits: 🔸Four notable exits, including Quicket’s acquisition by Ticketmaster. 🏆 Milestones Achieved: 🔸 $1.2 billion raised in 2024 so far, surpassing the total amount raised in 2020. 🔸 On track to exceed the $1.4 billion raised in 2019. This exceptional performance showcases the resilience and growth potential of the African start-up ecosystem. Thanks to Africa: The Big Deal for those insightful informations ! 🌍🚀 #Startups #Fundraising #Africa #Innovation #Entrepreneurship #RecordBreaking #BusinessGrowth #Investing #StartupEcosystem #Angelinvesting #Seedfunding #Venturecapital

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Glen Mella has been an advocate of RevRoad from the beginning, for which we are grateful! You'll see why. Entrepreneurship runs deep in his veins and he is really good at it! In this episode he gives entrepreneurs tremendous advice about the importance of product market fit and finding the right co-founders. This is an episode you don't want to miss! Happy Holidays! 🎄 🎁 #founder #investor #CRO #tech

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I have expressed incredulity with news stories from the The Information and they have proven me wrong so this report is truly shocking. Bolt was valued in a peak market Series E in early 2022 at over $11 billion by BlackRock then almost fully written down in 2023 (as many seemed to indicate there was limited revenue or a business model) and now the company is raising $450 million of capital from investors in the United Arab Emirates and the United Kingdom at a $14 billion valuation? What am I missing here? Hopefully earlier investors have sold secondary shares into this round. #valuations #bolt #ecommerce #alternativeassets #privatemarkets #venturecapital #startups #fintech https://lnkd.in/extH76g2

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Big News: Minut x Google Nest Integration is now Live! 🚀 Minut works hard on sustainability. We spend a lot of effort on making sure our supply-chain is short and that our products are eco-friendly. Even more importantly, we're also helping Airbnb hosts run their rentals more sustainably! This latest collaboration between Minut and Google Nest is a game-changer in that regard. With this new release hosts around the world can: 💡 Cut energy costs: Automate heating and cooling to keep energy usage low when guests are away. 🛏️ Enhance guest experience: Ensure every guest arrives to a perfectly comfortable space with pre-set temperatures. 🌱 Reduce carbon footprint: Gain control over your heating, reduce energy consumption, and make your property more eco-friendly. Start saving energy and lowering your environmental impact today: https://lnkd.in/eY58wkxV We're particularly proud of this release, so please let us know what you think! 🙏🏻

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Numbers & insights from a deep tech venture studio that launched 11 companies (all are active) in the last 7 years, reaching £85M valuation across the portfolio: 1. Post Urban, initially bootstrapped by Luke Robinson, an academic with a PhD in physics from Cambridge, now operates with external funding from a UK-based fund. 2. Launched 5 companies during the first 5 years and 6 companies during the last 2 years. 3. All 11 completed pre-seed rounds; 1 of them got Series A, 2 of them are approaching their Series A. 4. The startups have collectively raised ~£25M in venture capital, in addition to receiving grants. The total valuation of the 11 companies is ~£85M, half of which have not yet undergone subsequent funding rounds. 5. Initial equity splits: the venture builder 20%, CEOs of startups 35% (vests over 4 years), CTOs – 20-25%, employees 10-15%. 6. The initial valuation of startups was £2 million, with £300K invested by the venture builder. The last 2 startups were at £3.5-4M initial valuation. 7. Building deep tech ventures requires significantly higher initial funding because these projects need more time to develop demonstrable products. Two portfolio companies hit £1M in ARR. 8. The venture builder has increased the capital for the last 2 startups to ensure they reach meaningful milestones. The CEOs of the startups were able to secure additional funding through their networks, £350K and £450K, respectively. 9. The deep tech investor pool is smaller than that for sectors like SaaS, which requires a stronger proof of concept and market readiness to attract funding. 10. 3-4 times, potential customers became investors in Post Urban Ventures. This is a great approach because it secures investment and validates the concept by gauging whether these potential customers truly believe in the solution and its market necessity. 11. They don't start with a technology or an idea; instead, they integrate insights about global problems and, by actively engaging with advisory boards, founders, and industry experts, identify pain points and align them with technological solutions. 12. They do not bring universities in as co-founders but source scientists or professors to contribute to research and development. This involves leveraging academic expertise to support the technical aspects of startup projects until a prototype is developed. 13. The studio maintains strong connections with major academic institutions, including Cambridge, Oxford, Imperial College, and UCL, supporting its deep tech focus and facilitating access to new technologies and potential founders. 14. Areas of focus in deep tech: AI (Knowledge Graphs, NLP, DNNs, Computer Vision, Edge AI, Active Learning), Quantum Technologies, Biotech, AgTech, Enterprise SaaS. Watch the full interview to gain insights into the portfolio companies, handling IP collaborations with universities, key challenges, and team construction: https://lnkd.in/dCi7fZ7G

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