"Too Many, Too Small? Does European Venture really need more Emerging early-stage Funds?"

Europe keeps producing new early-stage fund managers, but the median European early-stage fund has difficulties to support its investments until exit and defend its own positions on the long run. Reserves run out before meaningful exits can be achieved, ownership dilutes round after round, and the best companies end up financed by someone else, often by investors from outside Europe. While new early stage fund managers might be needed in less developed VC markets in Europe, this Roundtable asks whether the number of such managers or their fund size in well-developed European VC markets needs to be adjusted: how much fund volume does it really take to follow your winners, what should be the role of early stage VCs and what are the lessons learned from the experience in the early 2000s? Is consolidation an answer? And what is the role of LPs in this - do “new kids on the block” always need to build a track record with a small early-stage fund before taken serious by larger LPs?

Host:
Markus Schillo (EIF)
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What are Roundtables?
Roundtables are curated sessions for 15 selected individuals, led by prominent LPs. The format features a 45-minute peer-level exchange on market realities, governed by the Chatham House Rule. This confidential setting connects you directly with influential allocators, and fosters deep, authentic relationship building through candid discussion.