Anna Fedulow
Madrid, Comunidad de Madrid, España
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Claudia Zeisberger
It’s no longer enough to just buy well and hope for multiple expansion. Time to roll up your sleeves. GPs have been hearing this from LPs for years — especially during fundraising. #Operational value creation has become the main act in private equity, not the footnote. Why? - Because with rising competition, more dry powder, and tighter exit markets, helping your portfolio companies actually improve is the only real edge left. I’ve kicked off a short YouTube series on how experienced funds approach value creation — where it starts, what works, and what LPs are now asking about in diligence. We started with a fireside chat featuring Anne Arlinghaus from KKR Capstone (link below in comments). In Part 1, I cover: • Why the real work begins long before the ink is dry • The go-to value levers (and why overhead reduction is just the start) • How firms are building internal ops teams — and tracking impact If you’re curious what “hands-on” really means — or what it takes to become an Operating Partner — this one’s for you. 🎥 Watch the full video here: https://lnkd.in/drfgcsMV Next up: Buy & Build — and yes, it’s as messy as it sounds. #PrivateEquity #ValueCreation #OperationalExcellence #PortfolioCompanies #GPstrategy #LPperspective #INSEAD Arnaud Bonzom Bowen White Michael Prahl Harsh Temurnikar @
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Frister Haveman
𝐏𝐄 𝐯𝐬. 𝐕𝐂 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞: 𝐀 𝐭𝐚𝐥𝐞 𝐨𝐟 𝐭𝐰𝐨 𝐟𝐨𝐨𝐭𝐩𝐫𝐢𝐧𝐭𝐬 Our latest data at Gain.pro highlights how PE and VC firms invest across Europe: ▪ PE-backed businesses are widely spread across the continent ▪ VC-owned assets are clustered in cities 📊 Sector focus drives this: – VC assets = 47% TMT (vs. 17% for PE) → drawn to innovation hubs – PE = 24% Services + 22% Industrials (vs. 13% & 7% for VC) → broader geographic reach beyond capitals 🌍 Top destinations: – Both: London & Paris lead – VC: 25% of assets in 11 cities (Berlin, Munich, Amsterdam next) – PE: 25% spread across 22 cities (Stockholm, Milan, Madrid stand out) ➡️ Same continent. Very different maps.
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David Clark
The VC secondary market is on fire. But many LPs are rushing in without fully appreciating the risks. VenCap International plc has been active in VC secondaries (LP positions only) since 1987 — and this is one of the hottest markets we’ve seen. In the first half of 2025 we reviewed $6.5bn of secondary VC deals — a 41% jump from the $4.6bn we saw in the same period last year. This includes both GP-led and LP-led deals. Here are 4 lessons we've learned from nearly 40 years of buying secondaries: 1️⃣ Power law still rules – a few companies will drive most returns. 2️⃣ Quality over discount – our best deal was bought at a premium to NAV. 3️⃣ Know the valuation policy – different VCs can value the same company very differently. 4️⃣ Factor in manager behavior – holding winners vs. selling early can make or break returns. VC secondaries ≠ PE secondaries. The risks are different — but for LPs who can access the right deal, at the right price, the rewards can be exceptional.
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Hadar Sutovsky
92 out of 1,500. That’s how many corporate–startup engagements in Europe led to real business deals since 2017, according to the EIC. Less than 7%. If this were agriculture, we’d call it crop failure. If it were drug development, we’d call it unacceptable attrition. But in innovation? We still call it “open innovation.” Startups are not failing corporates. Corporates are failing startups. Not because of lack of ambition, but because of lack of structure. Pilots without scale-up plans. KPIs that don’t align across business units. Budgets that stop at “proof of concept.” The EIC points to four pillars for fixing this: strategy, commitment, skills, experimentation. I’d add a fifth: ecosystem accountability. If corporates claim sustainability or climate leadership, they must treat startup partnerships as long-term value creation, not short-term optics. In AgriFoodTech and ClimateTech, where scaling takes time and science doesn’t bend to quarterly targets, this is non-negotiable. CVC is not a lottery ticket, it’s a responsibility. The full report is worth a read: https://lnkd.in/ecqmm7eA #CVC #ClimateTech #AgroFoodTech #Sustainability #InnovationStrategy
16 comentarios