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Return of venture craftsmanship
PARTNER LETTER #26
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Deployment of venture capital has reached new heights in the last few years, driven by a combination of cheap capital, entrance of non-traditional funding sources entering the frame, as well as the emergence of new innovative venture funds. However, many of these pools of capital have had little or no experience investing into venture-backed companies. Thus many are licking their wounds as difficult market conditions and unsustainable business models come back to bite them.
Moreover, war, inflation, soaring energy prices and wobbly markets, particularly in the tech space, have caused increased uncertainty for venture. Unsurprisingly technology entrepreneurs are having a harder time raising money, as the number of venture investors actively deploying capital shrinks and the remaining investors 'return to basics'.
But there is a silver lining for committed venture investors, who will now have the time to carry out more fundamental analysis of companies and business models, as well as build stronger relationships with founders. Investors will no longer be forced to make quick decisions due to competition or FOMO. It’s the return of venture craftsmanship!
And the combination of excellent entrepreneurs with investors who have the time to do their homework and hence fully understand what they are investing into, will bring benefits for all stakeholders.
Concentric.
The Activist Venture Fund.
United by Difference.
Photo by Jeremy Bezanger on unsplash / Photo by Uriel on unsplash
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Concentric 02
The Concentric team has recently carried out a first close of our latest fund Concentric 02. Through Concentric 02, and on the back of the successful Concentric 01, we will continue to support founders across Europe, who are utilising software to solve real problems across traditional sectors (Financial Services, Industrial, Logistics, Real Estate, Healthtech, etc).
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Investment News.
THE LATEST FROM OUR PARTNERS
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Our Estonian friends at Insly keep making great strides in terms of digitising and simplifying operations for MGAs and brokers. Here, founder, Risto Rossar, outlines how Insly is reinventing software for MGAs, while its comprehensive suite of software tools for the insurance industry is highlighted in this video. |
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Tesseract is a pioneer in digital asset lending, serving investors, retail trading platforms, custodians, and borrowers of capital globally. In Finland the company was recently selected as a broker for the resale of seized bitcoins. Find out more about how Tesseract works in this presentation link.
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Having seen demand grow significantly during Covid, Wheely’s London Academy has now welcomed more than 1,000 chauffeurs. With a core focus on service, it will also be implementing its chauffeur education in Paris and Dubai.
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Superscript Founder, Cameron Shearer reveals what he wishes he’d done differently when launching Superscript, his tools for fighting burnout and explains why he thinks blockchain is misunderstood. The business is also making significant commercial progress; launching an office in the Netherlands and announcing a partnership with VirginMoney.
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The company continues to advise policy teams on integrating emerging tech within their new service models to deliver truly modern digital transformation. Core areas include procurement and defence.
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Our incubated fund Timchain continues to back companies focused on the development of Bitcoin infrastructure.
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Galoy is an open-source Bitcoin banking platform from the team behind the wallet of El Salvador’s Bitcoin circular economy, Bitcoin Beach. Galoy has just launched a new feature bitcoin-backed synthetic US dollars: “While the dollar value of their BTC account fluctuates, $1 in its USD account remains $1 regardless of the bitcoin exchange rate.”
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Our Thinking.
RECENT ARTICLES & OPINION
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Connect with Us.
CONCENTRIC EVENTS & DATES
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Investor Day - 16th November - 2-5pm
Huckletree Public Hall, Westminster
We will be hosting our annual investor day. If you would like to attend please email info@concentric.vc
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Forum Event - 16th November - 6-8pm Huckletree Public Hall, Westminster
Expert panelists will be discussing 'Why there has never been a better time to start a business'. If you could like to attend please email info@concentric.vc
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Concentric Copenhagen Office
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We recently moved into new offices in Copenhagen. Please let us know if you would like to come and visit us in Farvergade, Copenhagen.
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