20VC closes new $400M fund to 'make Europe great again,' says Harry Stebbings
Harry Stebbings, the U.K. podcaster who broke into the world of tech with his 20-minute interviews of venture capitalists and founders,
Harry Stebbings, the U.K. podcaster who broke into the world of tech with his 20-minute interviews of venture capitalists and founders, parlayed that fame into becoming a VC himself. Now, Stebbings has closed his third investment vehicle, and it’s his biggest yet: 20VC, the firm named after the podcast series, has closed a $400 million fund.
20VC's New Fund: A Focus on European Startups
20VC, a venture capital firm founded by Steve Stebbings, has raised $400 million to invest in startups across Europe. The fund will allocate $125 million to seed investments and $275 million to Series A rounds. This is a significant move, considering the current climate for founders, where funding has become increasingly challenging.
Steve Stebbings: The Face of 20VC
Steve Stebbings is the founder of 20VC, a venture capital firm that has gained significant attention for its unique approach to investing. Stebbings is not a technologist by training, having studied law at university before dropping out to start his firm. However, he has built a reputation as an online creator and content expert, leveraging his influence to open doors and secure term sheets for his fund.
A Personal Approach to Investing
Stebbings' approach to investing is highly personal, focusing on identifying great entrepreneurs and founders who have the potential to shape markets. He believes that "great founders shape markets" and that his job is to find the best founders before anyone else. This approach has helped 20VC achieve significant success, with over £10 million in revenue generated.
Operational Experience
One of the key differentiators of 20VC is its operational experience. the Firm has established "sub-funds" in categories like sales, product, and growth, which are run by teams with operator experience. This approach has helped 20VC achieve significant revenue and profitability, making it a sustainable business.
A Strong Presence in Europe
20VC has a strong presence in Europe, with a network of contacts and connections that will help identify and invest in promising startups. Stebbings credits his ability to connect with European founders, who are eager to collaborate with US investors. He has built a reputation as a trusted and influential figure in the European tech scene, with a strong track record of success.
A market Correction?
Stebbings believes that the current state of venture capital, with only 1% of companies generating 90% of the gains, is actually a market correction. He predicts that for 1% of firms, venture returns will be much larger and better than ever, as the size of the outcomes increases. This could spell more opportunity for big wins, rather than less, in the long run.
The Future of European Tech
20VC's new fund is a significant step towards addressing the investment gap between European and US technology companies. With Stebbings at the helm, the firm is poised to make a meaningful impact on the European tech scene. As Stebbings said, "We need to make Europe great again. MEGA!" With his unique approach and personal touch, 20VC is well-positioned to help European startups achieve success on the global stage.
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