Sophie Adelman

Sharing a few thoughts from my annual migration for #SuperReturn #SuperVenture in Berlin. 1) This continues to be the best VC/LP/PE event annually. Many are at the conferences, and almost everyone has a representative in town. Any managers or LPs not in attendance should consider it next year. 2) The European emerging manager scene is on fire. I met with almost a dozen, some old friends, some new, all as sophisticated as their US counterparts with thoughtful strategies and impressive growing portfolios. 3) Europe lacks the concentration that SF provides the US. Many startup hubs, some larger, but everyone in Europe is spending way more time on planes than their US counterparts. 4) Nobody knows where the market is going, and fundraising has been tougher in the last 18 months than before, but most agree a lot of money is still being put into the venture ecosystem. That's resulting in a return to deal pace & valuation acceleration -- is FOMO back? TBD 5) In an ironic twist, there seems to be strong interest from US LPs in European managers, and from European LPs in US managers. What did you see? What interested you this year? Welcome thoughts. P.S. the conference logistics were tough this year. To all those that shared the burden, thank you. Let's hope next year is better. cc: Dale Chang Stephan Eberle Patrick Murphy Carmen Alfonso Rico 🍫Jaime Novoa Sebastian Blum Paul Pruijmboom Jasper Masemann Marie Schildt David York Lior Litwak Karey Barker Maximilian Claussen Ameer Awadiyeh Jonathan Heiliger Oana O. Philipp Moehring

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I'm speaking at SuperVenture 2024 on the 5th of June in Berlin. The topic of the panel is emerging VC managers: time to shine or out of their depth? Are LPs fleeing to established names and those that cut their teeth during previous cycles? Or is now the time for emerging managers to bring something different to the table? Is volatility leading to true innovation and disruption? We’re on track to see approximately 44% of the total LP capital committed to US VC funds since the start of the year go to just two large established VC platforms, according to PitchBook data. While many established VCs maintain their allure, there is a subset of LPs who are making a deliberate choice to increase their allocations to specialist emerging VC managers - managers who have spun out from established funds and have an attributable track record, founders with deep operational experience turned funders or academics with deep domain expertise. There is non-trivial added complexity when it comes to emerging VC selection – given the large number of funds needed to be screened and the more complicated referencing and DD process. Data highlights how important it is for GPs to identify & back ‘big winners’ early on to drive fund returns. Typically, ~5% of invested capital in a few winners drives most of the return (>50%). The VC model is built around investing in early-stage companies each with the potential to more than return the whole fund. Who has the right to win? Who will the best founders (and LPs) decide to partner with? #SuperVenture #VC SuperReturn

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Honoured to be featured in the latest Tech Funding News article discussing Germany’s role as a leading tech hub. 🚀 I’m also proud to see standout companies from the Earlybird Venture Capital portfolio—N26, Marvel Fusion, Isar Aerospace, and others—highlighted alongside my alma mater, Technical University of Munich, which is another key driver of innovation in the country. While Germany is often dubbed the ‘Silicon Valley of Europe,’ there’s still much to do, such as overcoming regulatory challenges and channeling more growth funding into promising startups. My advice for those navigating the Central European startup landscape: Leverage government-backed funding, connect with business angels, and build relationships with established companies. Do not wait to build a global network early on. Together we can strengthen this ecosystem so that one day it can truly live up to its nickname. Read more by Sofia Chesnokova here: https://bit.ly/404yyXr Cc: Dr. Hendrik Brandis, Paula Wehmeyer, Mario Kohle, Filip Lukac, Benjamin Berényi, Elisheva Marcus #Innovation #DeepTech #VentureCapital #GermanyTech

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Climate 3.0 is all about scaling, partnerships, and efficiency. At B Capital Climate, in collaboration with BCG, we're focused on helping companies not just develop cutting-edge technologies, but also ensure they can scale effectively and make a meaningful impact. Success in today's climate landscape requires more than just innovation—it demands the right partnerships, market acceptance, and operational efficiency. The US DOE's Adoption Readiness Level (ARL) framework is a key tool in this process, addressing the challenges of market entry, resource availability, and regulatory barriers to help climate tech companies thrive at scale. Explore how we’re supporting the next wave of climate innovation: https://lnkd.in/g3aiJpBv Thanks to my co-authors Vinay Shandal, Parham Peiroo and Mia Nixon as well as Vanessa Z Chan and Julius Goldberg-Lewis for their contribution. #ClimateInvesting #ClimateTech #Scale #Partnerships #EnergyTransition

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“Mom, you’re in the newspaper!”, said my daughter. Almost. It is not a newspaper, but a whitepaper by SEIF about the impact ecosystem. Mariana Christen Jakob, founder of SEIF - Driving Impact Innovation, asked me: ❔ If you look into the crystal ball, what development prospects do you see for tech for impact startups? In my opinion, impact will remain a massive driver. Investors will keep focusing on positive environmental impact as well as social impact. Examples are climate-tech, fem-tech or generally diversity and the female economy. However, raising funds will remain challenging for the coming months, especially for earlier-stage start-ups or start-ups with slower growth in revenues. ❔ What is your advice? My advice is twofold: Approach investors which still have sufficient cash and professionalize your fundraising approach. Regarding investors, this means talking to venture capital funds with sufficient dry powder, corporate venture funds matching your tech-focus or relevant government programs. Do not rely on private investors to keep funding your startups. The second part of my advice points toward increasing the maturity of the startup: Hire experienced employees with profound industry knowledge, strengthen the financial management, streamline the processes, and communicate to investors in a transparent and trustworthy manner. Be persistent. For impact founders who master these disciplines, the future is still bright! ☀️ Read the full interview in the whitepaper “From niche to mainstream? 12 years of impact ecosystem”. Key figures about SEIF: ➕ Analyzed 2’898 startup applications from 100+ countries. ➕ Selected 125 finalists including DePoly and Voltiris. ➕ Crowned 51 winners including Carbon Delta and Planted. In addition, Mariana and her team have initiated and nurtured an impact-focused network of executives like Ellen Bakke Mawdsley, Christian Maehr, Susanne Wittig, Curdin Duschletta, Ellinor Schweyer, Philipp Ries, Julia Balandina Jaquier, Kostis Tselenis, Falko Paetzold, Alessandra Rojas, Christin ter Braak-Forstinger, Dr., LL.M. and many more. 👉🏻 If you are a climate-tech startup looking for non-dilutive funding, sign up for our Technology Fund webinar co-organized by The Swiss Startup Association on June 20th (link in comments)! Or in Mariana’s words: Continue to create positive impact! #impact #swisssstartups #funding

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Our mission is clear: to make top-tier services affordable and accessible to the mid-market. Freelancers were often the only viable option in the past, while consultancies came with high costs and other downsides. Our experience shows that a small integrated team of senior operators delivers the best results. A rapidly growing number of repeat customers agrees. Reach out to learn how we can help you accelerate growth affordably yet through a best-in-class delivery model. #operatingpartner #commercialexcellence #privateequity #freelancer #managementconsultant Mitul Ruparelia Pedro Correia Krishna Chaitanya Simon Blackburn

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🎯 Glad to be speaking at "Responsible and Safe AI: The Blueprint for Trust" at Davos 2025. As AI systems become increasingly woven into the fabric of society, the decisions we make today about responsible AI practices will echo for decades to come. I'll be joining fellow industry leaders to discuss how we can build AI systems that not only earn trust but maintain it through generations of technological advancement. With transformative AI capabilities continuing to emerge, establishing robust frameworks for Trust, Safety, Data Stewardship, and Governance isn't just about managing present-day challenges—it's about creating an enduring foundation that will shape how AI serves humanity in the years ahead. 📍 Cognizant Chalet, Promenade 68, Davos 📅 Thursday, January 23, 2025 🕐 11:30 AM - 1:00 PM 🍽️ Panel discussion & networking lunch Looking forward to sharing insights and engaging in meaningful discussions about shaping the future that AI is going to help us build. Would love to see you there! Register here: https://lnkd.in/givxYmW9 #WEF2025 #Davos2025 #ResponsibleAI #AIGovernance #FutureOfAI #TechForGood #AIEthics #DigitalTransformation CC Cognizant Fred Werner Babak Hodjat Kian Katanforoosh Mark McDonald Naveen Sharma

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To me, the political news of the past 24 hours in the US and in Germany have been very saddening. At the same time, it has become even more obvious that our mission at the Auxxo Female Catalyst Fund to drive equitable access for everyone in the economy - independent of gender - needs to be pursued further - and with even more drive and help from our allies. I want our daughters to grow up in a world where all jobs are attainable to them - be it the CEO of a publicly listed company, the President of a country or a riding instructor (the current dream of my older daughter). I also want them to feel safe in this world. And of course: I want the same for our sons! My personal purpose is to show my daughters the power of the female. And I intend not to make this a fight, but rather a collaboration. I intend to join forces with everyone who also believes that we need both, yin and yang, in equal measures, for everyone to benefit. When Fabiola, Bettine and I stumbled across the name Auxxo, we were thrilled, as it described our purpose very well: The Greek goddess Auxo is Zeus' daughter and responsible for supporting the plants and animals to grow and flourish, by bringing summer. Since 2021, we co-invest in teams with at least one female founder - translating into a portfolio with a gender split of almost 50:50. With our unique angle, we outperform the market and bring companies to the VC world that would probably be passed over otherwise. Also, we support the founders to stay sane and we hold space for them so that they in turn can do the same for their employees, customers, investors, and families. In the end, this very collaborative approach will bring growth and prosperity for us all - I am convinced of this! So please, let us roll up our sleeves and do everything we can to create this bright future - together.

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"The last 18 months have been brutal. Many startups that received high valuations during the 2021 boom are now struggling to survive." says Gina Domanig, Managing Partner at Emerald Technology Ventures in this Forbes Austria article. Yes, 2024 has been a tough year for many fledgling companies. But I am encouraged by some of the startups scaling disruptive technology and business models in service of accelerating the energy transition in India and across the Asia Pacific and Middle East. They will survive and thrive - with the support of a growing investor community who have come to appreciate that the global south possess truly innovative solutions. One of the highlights for me this year was the first Asia Climate Tech Venture Fair, held in Singapore in October. The brainchild of Gina and her team, it brought together a critical set of VCs, CVCs and PE firms to share insights and leads on startups in the region. Looking forward to more conversations in 2025. Read now: https://lnkd.in/dhEtFTbV #Cleantech #Venturecapital #Innovation #Startups #energytransition #Corporates #Climatetech #Entrepreneurship #Sustainability #Futureoftech #Cleantechventures #Startupgrowth #Corporatecollaboration #Techinvestment

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Excited to share what I learned from Sandro Stark, founding partner at Vanagon Ventures backing FrontierTech from Munich/DACH 🚀 to the World at the YUVC video podcast (links in comments) 💡 Above all, Sandro is a super nice person to get along with and has a great NPS from founders 👋 Here 3 Core Takeaways ✨ 1. Vanagon’s approach to startup evaluation 👀 - Distribution capability is now the key differentiator, not just technical innovation - Customer "stickiness" and deep industry understanding - The solution must demonstrate both climate impact and profit potential 2. Why is Munich's ecosystem strategic? 🇩🇪 - Part of DACH region - third-largest market globally after China and US - Rich concentration of technical talent and corporate headquarters - Untapped potential in Mittelstand venture engagement 3. What's the philosophy behind sustainable success? 😉 - Don't postpone happiness for future achievements - True leadership creates more leaders, not followers - Consistent effort matters more than breakthrough moments Now listen in for more insights! ❤ Kudos to his great co-founders/GPs @Vanagon: Susanne Fromm Axel Roitzsch Shoutout to their amazing portfolios: Senken Particula Renoster youba The Landbanking Group LoopID heartstocks Learn.xyz ExoMatter and more

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𝙄𝙣𝙫𝙚𝙨𝙩𝙤𝙧𝙨 𝙨𝙥𝙚𝙣𝙩 𝙤𝙣 𝙖𝙫𝙚𝙧𝙖𝙜𝙚 𝟮𝙢 𝟰𝟲𝙨𝙚𝙘𝙤𝙣𝙙𝙨 𝙤𝙣 𝙮𝙤𝙪𝙧 𝙥𝙞𝙩𝙘𝙝 𝙙𝙚𝙘𝙠 🥵 - 𝙨𝙤 𝙮𝙤𝙪 𝙗𝙚𝙩𝙩𝙚𝙧 𝙜𝙚𝙩 𝙧𝙚𝙖𝙙𝙮 𝙩𝙤 𝙢𝙖𝙠𝙚 𝙞𝙩 𝙘𝙤𝙪𝙣𝙩 𝙖𝙣𝙙 𝙠𝙚𝙚𝙥 𝙞𝙩 𝙥𝙧𝙚𝙘𝙞𝙨𝙚 😎 And what better way to do that than by learning how to leverage storytelling during your fundraising to your advantage? I am super excited to meet the founders of batch #12 of the #GrowF investment readiness program for gender-diverse ventures by Female Founders. As a part of the 5-week hybrid program, I’ll be sharing my expertise in Compelling Storytelling. 💫 𝗪𝗵𝗮𝘁 𝗱𝗼𝗲𝘀 𝘁𝗵𝗮𝘁 𝗺𝗲𝗮𝗻? First, we will unfold how you become the Chief Storytelling Officer of your startup. Second, we will go full mode into pitching and unfold the different formats of how to craft your pitch narrative. 𝗛𝗲𝗿𝗲 𝗮𝗿𝗲 𝘁𝗵𝗲 𝗸𝗲𝘆 𝘁𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 𝗳𝗿𝗼𝗺 𝗺𝘆 𝘀𝗲𝘀𝘀𝗶𝗼𝗻. 💥  As a Founder, you are the Chief Storytelling Officer. You need to convince investors, employees, customers, partners, and journalists to give you the resources you need — you do that with your story, your narrative. 💥 You're the ally or helper in the story, guiding the hero (the audience). Your presence enhances the narrative, but the audience is the hero. 💥 There are four storytelling formats for fundraising: You can either bridge the founder, value, culture, or credibility gap! We are preparing startups for success in the competitive world of VC funding 💸 #saas #storytelling #diversity #pitchready

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See below for an insightful piece on how VC’s can make the most of the coaching investment for their early stage CEO’s and what NOT to do. Congrats Lisa L. Blosser on a thought provoking blog!

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There is a new book on #startup ecosystems by Gary Schoeniger and it includes information on the work of NC IDEA

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This is well worth a listen, the three key messages are really powerful! I also love how humble, even nervous he seems. Here are his three lessons with my favourite bit from each: 1. Excellence is a myth “Yes, talent matters. I’m not going to stand here and tell you it doesn’t. But talent has a broad definition. Most of the time, it’s not about having a gift. It’s about having grit. In tennis, a great forehand with sick racquet head speed can be called a talent. But in tennis... like in life... discipline is also a talent. And so is patience. Trusting yourself is a talent. Embracing the process, loving the process, is a talent. Managing your life, managing yourself... these can be talents, too. Some people are born with them. Everybody has to work at them.” 2. Its only a point “In tennis, perfection is impossible... In the 1,526 singles matches I played in my career, I won almost 80% of those matches... Now, I have a question for all of you... what percentage of the POINTS do you think I won in those matches? Only 54%. When you’re playing a point, it is the most important thing in the world. But when it’s behind you, it’s behind you... This mindset is really crucial, because it frees you to fully commit to the next point… and the next one after that… with intensity, clarity and focus.” 3. Life is bigger than the court "I worked a lot, learned a lot, and ran a lot of miles in that small space... But the world is a whole lot bigger than that... Even when I was just starting out, I knew that tennis could show me the world... but tennis could never be the world." https://lnkd.in/es-V7Dgv

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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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Together with three #impactinvestors we did a lot of work on Impact Investing over the past twelve months. And there's a lot more happening this summer. Catch up with it here: https://lnkd.in/eiHy8FGD

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❤️ INCREDIBLE. Fundie Ventures is the 13th Syndicate that I've had the opportunity to impact through Angel School. Personal learnings from Stuart Minnaar's success: 1/ Our 'north star' for admission is "Can this person be a successful syndicate lead?" --> 100% Yes from our 1st interaction. 2/ South Africa punches way above it's weight. Great energy and community. --> Shoutout to Lucien Peters Aidan Hurly Everyone Ventures Ryan Shub Stefni Bridges The Delta Cameron Bing Mathew Marsden Startup Club ZA 3/ Record GTM- 1st deal launched within the 8 week program. 4/ Advocacy from peers, connecting through Andreas Munk Holm David Cruz e Silva 🎙 EUVC I launched AngelSchool.vc because #angelinvestors and #syndicates are massively underserved. ...yet they move ~$10BN / yr of capital for venture ecosystems. If 1:50 angel investors aspires to start a syndicate in their career, that's a market worth building for.

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