'Ecosystem' - 2020 in Review & thank you for joining the journey!
A look back over the last 12 months - lessons and recognitions
2020. What a year. 💥
For many, it has been a challenging, life-changing time - words fail short to describe it.* Yet, business continued on - and Europe’s tech ecosystem has successfully weathered the storm (marking another record year of private capital investment).
The past twelve months illustrated the power technology holds - connecting us while being remote and ensuring the world continues to function. 2020 reaffirmed the importance of venture capital as a driver of economic growth - other than redefining industries latent to change (and creating new markets), all-venture backed success stories like Deliveroo, Hopin, cargo.one, Coachhub are also the source of hundreds of tech jobs.
*As “A picture is worth a thousand words”, I welcome you to see the past 12 months through my eyes - including how the ‘Ecosystem’ project started and 2020 recognitions. 💫
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In a way the ‘Ecosystem’ story began long before this project came to fruition; a result of my background in media and experience in people-facing (connecting) positions. At the start of 2020 my role was exactly this - developing the ecosystem for the VC spin out of multinational real estate investment manager Round Hill Capital. Few highlights from my work at RHV here.
Being able to work with the fund’s portfolio companies (hosting the the very first workshops), offered invaluable insight in the founder-VC relationship. As first point of contact to members of that ‘ecosystem’, being actively engaged in the startup scene and thanks to previous relationships/networks/connections, naturally meant a lot of decks were coming my way. I thought that to truly make a difference in bringing more diversity in venture (and be able to support a founder get further in the investment process), my role needs to be on the investment side of the team.
Then Covid happened and is how the ‘Ecosystem’ project began. The need for information led to the very first webinar (1 became 4) - panels where few of Europe and the US leading investors, innovators corporate and public sector actors came to share insights in a time of uncertainty.
‘Ecosystem Giants’ evolved out of those panels ‘under lockdown’. Sessions started with the aim of creating the online environment where less experienced founders and junior VCs can get to know the leaders who have redefined the early stage tech investment landscape - in Europe and beyond. A way to shorten the distance between some of the most influential VCs/operators and industry ‘outsiders’(less experienced/networked entrepreneurs and junior investors) by forming the initial common touchpoint between the speaker and participants. In essence making any ‘cold outreach’ less cold ;) By bringing together different networks and through the incredible insights shared, I hope in a very small way ‘Ecosystem Giants’ do contribute to opening up access to the VC industry.
Many thanks to the partners in this journey including Startups Magazine, Kaiku, ParlayMe, LMRE, London Connectory and UNDP Cambodia Bluetribe.
Along with the ‘Ecosystem Giants’ series, came the weekly newsletter. Its 24 editions have documented some of the key tech news of 2020 - go back to the start here. Every week, I try to make an insightful guide on early stage fundraising (content takes a while to produce - and feedback is much appreciated!) with the hope of (again) democratizing access to venture for less networked founders and junior VCs.
Quick stats:
5 panel events (15+ top VC firms globally represented as panelists) on topics ranging from urban innovation/the cities of tomorrow to unconscious bias in venture. The discussions were featured in national media including Information Age, Startups Magazine, Startacus, UKTN.
10 ‘Ecosystem Giants’ sessions (key highlights listed below) where 11 early stage founders pitched for feedback(new intros, all but one actively fundraising; 50%+ female-led companies) - from deep tech hardware to urban mobility and proptech. If you would like to pitch in 2021, reach out.
24 weekly newsletters, with an open rate double the industry average. Thank you to the amazing speakers for the trust and to the 800+ participants from the startup, venture, corporate and public sectors for your support in 2020! 🙏🏻
Ask : Is your fund looking to diversify your dealflow pipeline and exploring ways of accessing new entrepreneurial networks by bringing a venture partner on board? I would love to have a chat.
What were the most memorable ‘Ecosystem Giants’ insights?
Marvin Liao, Angel Investor, Partner & Board Member at GAMEGROOVE Capital and Former Partner, 500 Startups:
A founder's good sense of judgement is very important. Asking the right questions, the ability to fix a wrong decision and being action-oriented are all key features investors look for.
Hussein Kanji, Founding Partner, Hoxton Ventures:
Why can this *future unicorn* business be built up today and who are the people that are going to hire really well. The first ingredient is capital but the ingredient that the people spend this capital on is people. If you don't hire really well around the people who are setting up this business, it eventually falls apart.
Maren Bannon, Co-Founder and Managing Partner, January Ventures and Yvonne Bajela, Founding Member and Principal, Impact X Capital Partners:
Female and underrepresented founders are over-mentored and under-invested in. Mentoring can only go so far. - MB
Is this the team that can build this scalable company, take it to the next level, is the market is ripe for disruption? The valuation has to make sense too. -YB on assessing early stage startups
Esha Vatsa, Principal, Pi Labs:
Fundraising is a key pillar for any successful startup and it becomes even more important as the business grows.
Manu Gupta, Independent, ex-Partner & Founding team, Lakestar
Speak to as many investors as possible to find the right one to build a long-lasting partnership. Do your research, know who to approach and who could add the most value to your business (especially if going after a very specific thesis/sector).
Jean-Marc Patouillaud, Managing Partner, Partech:
When evaluating new markets, take into account structural versus conjunctural changes.
Oliver Holle, Co-Founder and Managing Partner, Speedinvest:
Great people form great teams around them - recognize and empower your top performers.
Chris Heivly, VP Innovation, Techstars:
Surround yourself with smart people you can learn from and do not be afraid to ask questions. Build a network that is not transactional.
Amali De Alwis MBE FRSA, Managing Director, Microsoft for Startups:
Be ruthless with your time (write down your vision and priorities to always have them on top of mind!) but don’t forget to be kind to yourself and take care of your mental health.
Jan Miczaika, Partner, HV Capital:
Starting a company is stressful – build or join a support network with people you trust (and who are non-competitive) to help you get through the lows.
The first ‘Ecosystem Giants’ session in the New Year is on 19 January 2021 with Benjamin Erhart, Partner at one of the strongest early stage funds in Europe in the areas of industrial technologies, smart enterprises and mobility, UVC Partners. RSVP here
Find the 2020 recordings here.
⭐ The ‘Ecosystem’ Recognitions ⭐
It is not democratic to single-handedly pick out yearly winners. Simply who/what stood out to me and deserves a special mention :)
Female founder to watch: Mikela Druckman, Co-Founder and CEO, Greyparrot
Male founder to watch: Johnny Boufarhat, Founder, Hopin
Podcast episodes to listen to before year's end:
Naval Ravikant on Happiness, Reducing Anxiety and Crypto Strategy (The Tim Ferriss Show)
Top 3 content-producing investors to follow :
Maren Bannon, Co-Founder and Managing Partner, January Ventures
Elizabeth Yin, Co-Founder and General Partner, Hustle Fund
Chris Smith, Managing Partner, Playfair Capital
Book to read (or listen to) before year’s end: The Courage to Be Disliked by Ichiro Kishimi and Fumitake Koga. As recommended by Julia DeWahl (now at Spacex) and a favourite of Slack’s Stewart Butterfield
A 2020 quote to remember:
Realize that building the muscle and discipline to do the things you don't want to do but you know is right for you longer term is what what truly separates outliers from the pack - Joe Thomas, Co-Founder and CEO, Loom
Dream ‘Ecosystem Giants’ guests of 2021: Naval Ravikant (Co-founder and Chairman, AngelList), Sophia Bendz (Partner, Cherry Ventures), Sonali De Rycker (Partner, Accel)
Ask: Share with them to help me get them on board 🤞🏻 Let me know your favourites for those categories. Which VC investor has been of massive help (either directly or indirectly - through online insights) over the last year?
More (personal) 2020 highlights - get to know me
(Re)Startup Strategy column for Startups Magazine
Startups Magazine is a digital and print magazine helping tech startups connect the dots on their entrepreneurial journeys. A great resource for founders and operators (in the UK and not only!) - glad to have been able to guest contribute. The (Re)Startup Strategy column aimed to bring insights from the VC world, from cold pitching a VC to the way venture capital firms emerge and raise their funds.
Joining Girls in Charge’s non-executive board
Girls in Charge empowers the young generation of female university students to develop confidence and the essential skills to succeed in life/business through gamified workshops. If you’d like to find out more or support them, get in touch.
Joining the team at Shaper Impact Capital as an analyst
Shaper Impact Capital is a Global-Shaper powered impact newsletter helping to connect selected social enterprises and purpose-driven startups with a curated network of impact investors and angels, globally. Check out the most recent editions from October and December. If you are a founder who would like to be featured, apply here.
Joining Impli as an advisor
The all female-led startup uses implantable technology to help people get faster, and more effective, first point of care(and are raising seed). If you would like to find out more and support them in the fundraising journey, reach out to me or connect with Anna Luisa directly.
Getting a investment-focused role in venture
I do believe the ‘Ecosystem’ project helped in achieving this and grateful to the Amplifier team for the opportunity to learn with them. The experience also offered a further look into both the existing underrepresentation in venture. Change is slow but possible if actively sought for (in three months, the N of female founders in the fund’s deal flow pipeline increased by 7x).
2020 also brought a myriad of life lessons.
Be humble. Recognize the light in darkness and discover happiness in little things. Don’t discredit your gut instinct. Take the chance and do the right thing. Empower. Find your passion and work towards making a positive difference. Inspiration is contagious. The more we are exposed to it, the more we pass it on.
And ultimately 2020 may have brought a new realization of how short life is. Tomorrow is not a given (philosophical, I know!). Create your own opportunity - today!
And that’s a wrap. Wishing you a joyful Holiday Season and a happy New Year!
