David George’s Post

“A buoyant public market and high dry powder in venture means there is likely to be an even greater divide between public and private valuations, with the latter at times defying gravity,” Dawn Capital general partner Evgenia Plotnikova said. “While the jury is still out on whether those high valuations are justified and just how much AI can eat into the global knowledge work economy, we are unlikely to see a trough of disillusionment in 2025.” In this PitchBook article, Evgenia and other European VCs share their outlook for 2025. 🔗 Read more here: https://lnkd.in/dvre4KVJ

💡 The latest from our #GenAI Investors Playbook series: What do PE investors need to know about Open versus Closed models? 🔬 ⚡ This is one of the biggest debates surrounding LLMs. For PE investors, however, the size of the model may matter more. 🎯 🎁 To get an excerpt from our GenAI e-book, subscribe to my newsletter here --> https://lnkd.in/eDjsUDc6 🗞 #artificialintelligence #deeptech #privateequity #PE #VC

Join us for Allocate’s State of the Market Webinar (registration on comments below), where our Investment team—Nic Millikan, CFA, CAIA, and Josh Garcia—together with CEO Samir Kaji, will break down key insights from 2024 and provide a forward-looking outlook for 2025. This dynamic, data-driven session will explore pivotal trends shaping private markets, with a focus on the venture capital industry. Expect actionable insights, candid observations, and a lively Q&A session to dive deeper into your questions. Here are core themes we’ll cover: 1) The Great Market Divide - How the gap between winners and laggards in venture and private equity is widening—and why it matters. - The anticipated shakeout that hasn’t happened yet: what does it mean for investors? - AI as a market force: is it accelerating or compounding the divide? 2) Stabilization Amid Disruption - Signs of stabilization: the modest recovery in venture capital deployment and more reasonable valuations. - The resurgence of mega rounds and larger deals—who’s driving them? - The shifting dynamics in LP capital allocations: why established managers are closing shop at higher rates. 3) The Future of Innovation and Liquidity - The rise of secondaries: opportunities to pull liquidity forward with strong risk-adjusted returns. - AI-native startups commanding valuation premiums and redefining innovation across industries. - The evolving IPO landscape: why PE-backed companies are set to dominate in 2025. Backed by Allocate’s proprietary insights and extensive GP interactions, this webinar promises a clear and compelling view of what’s ahead for private markets.

From macro to micro: meet Andreas Steno, the first believer in comundo Andreas is a man of two worlds. On one hand, he analyzes macroeconomic trends, offering sharp insights into global markets. On the other, he has his finger firmly on the pulse of startups. Few can bridge the macro and micro as seamlessly as Andreas. By day, Andreas runs Steno Research, delivering actionable insights on everything from energy markets to digital assets. He hosts The Macro Trading Floor podcast, exploring the forces shaping the world, and recently launched his own fund, actively investing in the future he envisions. Andreas was the first investor to put his hard-earned money into comundo, becoming both a trusted advisor and the original believer in our vision. He saw how a small startup working with energy data could grow into something significant, aligning perfectly with the macro trends he tracks. While others focused on carbon accounting, Andreas pushed us to think bigger - envisioning comundo as a key player in the future of global data infrastructure. He also introduced us to the Likeminded crew, including Oliver Rye and Vincens Riber Mink, who have been instrumental in shaping our journey. What makes Andreas truly remarkable is his ability to bridge the big and small. He’s the guy media outlets call when they need insights on everything from Trump and Greenland to the Danish government’s standoff with the U.S. But he’s also the guy who’ll take my call anytime to strategize on how to approach a potential client or solve a seemingly small challenge. Andreas’ rare ability to move between macro and micro has been invaluable to comundo, helping us stay grounded while aiming high. His belief in us early on has meant the world. If you’re not following Andreas, start now. His insights will challenge your thinking and make you smarter. Tune into The Macro Trading Floor for a single episode, and you’ll walk away sharper, better informed, and ready to see the world through a broader lens. And before I forget - thank you, Andreas, for believing in us before anyone else did. It meant an awful lot back then and still does today. Thank you! 🍀

🌟 2024 Prediction Scorecard: How Did Dr. Andre Retterath Do? 🌟 Before diving into his 2025 outlook for the VC industry and AI & data in VC, Andre took a moment to review how his last year’s predictions panned out. Here's the quick rundown: 1️⃣ Natural Selection: VCs cut headcount, close shop & pursue M&A 😵🤝 ✔️ Spot on. Many VCs struggled to raise their next vintage and/or closed shop. 2️⃣ Exit window will open end 2024 / early 2025 📈 ❌ End 2024? Wrong. Early 2025? Too early to tell. 3️⃣ Boutiques, Mega funds, barbells, and the VOID 🏋️ ⏳ Too early to tell. 4️⃣ “Preferred” access to deals becomes key 🕵️♂️ ✔️ Correct. Competition for top 1% deals is fiercer than ever, pushing investors to get creative. 5️⃣ 2024 will be the year of pre-emptions 🏃♂️ ✔️ Nailed it. This was the year of pre-emptions like never before. 6️⃣ Massive disruption through data & AI 🤖 ✔️ Absolutely. Data & AI are mainstreaming in VC. Stay tuned for more insights in the upcoming DDVC Landscape 2025. 7️⃣ Build: Relative share of internal (data) engineers increases 👩🏽💻 ✔️ Right again. Preliminary DDVC Landscape 2025 data shows engineering teams growing, while investor headcount remains static. 8️⃣ Buy: “Investment Tech” on the rise ⚒️ ✔️ 100% accurate. The wave of cool new tools for VCs this year has been remarkable. 9️⃣ Fewer investors get more done 💪🏼 ⏳ Too early to tell. 🔟 Reputation & brand become key 🏆 ⏳ Still unfolding, but notable rebranding efforts by firms like Redpoint, GC, Seedcamp, Cherry, and others. >> Summary 👉 60% right, 5% wrong, 35% too early to tell. Not bad 2024, not bad. 😏 📊 What’s next for 2025? Stay tuned for Andre's predictions! #VCPredictions #AIinVC #2024Recap

10 Predictions for 2025

Nice write-up by Ken Horenstein and his Pack Ventures team on the next wave of transformation: The age of intelligent Agents.

The past year we have been thinking about, and tinkering with A.I. tools to understand the transformation ahead. It is clear to us that we're witnessing the dawn of the internet's third wave: the age of intelligent agents. Wave one - Aggregation. Wave two - Analytics. Wave three - Agents. In an agent world, code will take actions on behalf of humans, reducing the work previously handled by people. We shared our thoughts recently with our investors, and we would love to hear what you think, and what else we should write about! Thanks to Shwetak Patel from the Ubiquitous Computing Lab, and Nilo Dutta Roy of Microsoft for your inputs! Pack Ventures, Ti Zhao https://lnkd.in/gCxRJC7n

Howard Tullman is general managing partner at G2T3V, LLC, while Keith Fitz-Gerald is principal at the Fitz-Gerald Group. Both experts have decades of experience analyzing and investing in private and public technology companies, and they sat down for an engaging MoneyShow MoneyMasters Podcast episode to explain the current state of play in the sector. https://lnkd.in/eYUNuuGy We dive first into the regulatory environment and how “Big Tech” companies like Meta Platforms Inc. (META), Amazon.com Inc. (AMZN), Alphabet Inc. (GOOGL), and Microsoft Corp. (MSFT) are facing more scrutiny from Washington, as well as how smaller competitors and startups need to approach the big boys to survive and thrive. Next, the conversation pivots to some of the innovative tech developments impacting productivity and business practices in industries as diverse as customer service/call centers and health care – as well as the not-so-helpful “wasted effort box” stuff that doesn’t give us the “seamless technology a la Star Trek” we really want. We then cover interesting developments in Artificial Intelligence (AI), the evolving tech sector work environment, the advice Howard gives his portfolio companies, and more. Plus, both Howard and Keith weigh in on the investment windows of various tech investing firms – and how it doesn’t always align with what companies seeking investment really need. Toward the end of the segment, they share some practical guidance for stock investors looking to capitalize on pullbacks in the tech sector, as well as those looking to take a more defensive posture. Finally, both Howard and Keith share a sneak peek of what they’ll tell attendees at the Investment Masters Symposium Silicon Valley, set for May 7-9, 2024 at the Hyatt Regency San Francisco Airport. Click here to register. https://lnkd.in/eB_zcRqb

The second edition of the DeepTech Investor Summit is coming up in January 2025 at ETH Zurich! In partnership with ETH Zürich and UBS, the DeepTech Investor Summit is the ultimate gathering for investors and ETH spin-offs. 📅 Join us on January 27–28, 2025, for the summit connecting 300+ investors with 70+ ETH spin-offs - a unique chance to expand portfolios, meet co-investors, and build partnerships with early-stage innovators. This year’s theme, “Rising in Times of Uncertainty,” focuses on overcoming challenges in geopolitics, markets, and emerging technologies while uncovering the next big opportunities in innovation. Explore the agenda and participating spin-offs: https://lnkd.in/epPb-gsA This is an exclusive invite-only event, so if you want to participate, please contact Joni Rakipi from the ETH Entrepreneurship team: [email protected]. 📺 Get a glimpse of this year's event: https://lnkd.in/e7KBjmKb #DeepTechInvestorSummit #ETHZurich #ETHSpinOff #Innovation #Entrepreneurship #ETHEntrepreneurship #UBS