Damien Launoy

Why I Don't Sign NDAs for Early-Stage Founders — And Why Founders Shouldn't Ask Your idea is your baby. I get it. But for VC, asking for an NDA before sharing that idea isn't protecting your future - it's limiting it. In my latest article, I break down why NDAs create more problems than they solve for founders seeking early-stage funding. I explain why VCs structurally cannot sign them (reviewing 1,500+ decks annually makes this impossible), why they signal inexperience rather than caution, and most importantly - why your execution matters infinitely more than your idea. If you're a founder worried about idea theft, this perspective might change how you approach investor conversations forever. I explain why trust is the real compounding currency in venture capital - not legal protection.

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🎉 Thrilled to share the first closing of our new fund Omnes Real Tech 2 at €112 million. 💡 We believe Europe’s deeptech moment is now. A new generation of world-class founders with European roots is building with speed, depth, and ambition, and more and more investors are aligning behind the conviction that Europe can lead in deeptech. We're proud to help power this movement and support the scale-up journey of the continent’s most promising technologies. 🔧 Omnes Real Tech 2 is built for the critical inflection point when breakthrough technologies must scale industrially and commercially. It builds on the journey we’ve taken alongside standout deeptech companies like Quantum Systems, The Exploration Company, Quandela, Sekoia.io, Unseenlabs and Proxima Fusion, now all widely recognised in their fields. 🛰️ We’ll continue backing ambitious companies in defense & security, quantum, new space, AI, semiconductors, and advanced materials, across Europe, with a conviction-led strategy and deep reserves to follow on over time. 🇩🇪 We’re kicking things off with a first investment in ARX Robotics, the German startup shaping the future of autonomous ground systems for defense. 📬 If you're building something bold, with pan-European ambition and industrial scale, we’d love to hear from you. Michel de Lempdes Renaud POULARD Fabien Collangettes François-Xavier Dedde Maia Falkå Paul Maurens #Deeptech #ScaleUp #EuropeTech #DefenseTech #Quantum #NewSpace

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How Do Angel Investors Value Pre-Seed Startups? At the pre-seed stage, startups often have no revenue and minimal traction — which makes traditional valuation methods like EBITDA multiples useless. Instead, angel investors rely on a mix of early-stage valuation methodologies such as: 📊 Berkus Method – assigns value to elements like the team, prototype, market size, and strategic relationships. ⚖️ Scorecard Method – compares the startup against averages from similar deals in the region, adjusting for strengths and weaknesses. 💰 Venture Capital Method – estimates the exit value and works backward, applying expected ROI multiples. 🔮 Risk Factor Summation – starts from a baseline valuation and adjusts up or down based on 12 common risk factors (management, competition, legislation, etc.). The truth is, at this stage, investors look beyond numbers. While valuation methodologies help frame the deal, more than the money, investors also evaluate factors such as: 👥 The founding team – their skills, resilience, and ability to execute 💡 The problem being solved – is it significant, urgent, and scalable? 🚀 The proposed solution – how unique, innovative, and defensible is it? 📈 Market potential – is there room for exponential growth? 🛠️ Early validation signals – customer interviews, letters of intent, prototypes, or pilot interest. Pre-seed investing is often described as “betting on the jockey, not just the horse.” Angels know that the business will pivot, but the right team can adapt, learn, and grow. At this stage, valuations are more art than science, but structured approaches ensure fairness for both founders and investors. At CYBAN, we guide investors and founders through these methods to align expectations and build trust from day one. #AngelInvesting #StartupValuation #PreSeed #CYBAN

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🌱 "Zero to One: The Pre-Seed Report" 📊 Today, Concept Ventures is excited to share “Zero to One: The Pre-Seed Report,” which reveals what we've felt on the ground for years: Europe's pre-seed ecosystem is stronger than ever before, with the UK 🇬🇧 firmly leading this charge. In a time when negativity dominates headlines, our data tells a different story - one of continued European growth and the likely home to many more of tomorrow's unicorns. Many of the UK's most iconic companies had modest and humble beginnings - all raising pre-seed rounds sub $2.5m (Wise, Revolut, Monzo Bank, Synthesia, and ElevenLabs). 🔍 Main findings from the data: • Total European pre-seed funding has nearly doubled in the last 5 years, from $263M in 2018 to $500m+ in 2024. •The UK 🇬🇧 dominates, attracting $0.33 of every $1 invested in European pre-seed funding - more than Germany 🇩🇪 and France 🇫🇷 combined. • Average UK pre-seed rounds have nearly doubled in size since 2018. • Two-thirds of UK pre-seed rounds now use SAFE instruments, giving founders greater flexibility. As the UK's largest dedicated pre-seed fund, we're bringing much-needed transparency to this critical but often overlooked stage -  Special thanks to Lauren Sauerland, who did the bulk of the work, as well as the brilliant investors who contributed to this report: Jamesin Seidel (Chapter One), Jasper Masemann (Cherry Ventures), Pietro Invernizzi (firedrop), Sam Endacott (firstminute capital), and the team at SeedLegals for their valuable data insights. Want to understand what pre-seed looks like in 2025? Curious about why the UK has established itself as Europe's pre-seed powerhouse? Read the full report in the comments below: https://lnkd.in/eZgUKDht

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Continuing the synthesis of a month of insightful panels on Agentic AI - Part 2/3. It was a pleasure to share the panel on "𝗔𝗴𝗲𝗻𝘁𝗶𝗰 𝗔𝗜 – 𝗔𝘂𝘁𝗼𝗻𝗼𝗺𝗼𝘂𝘀 𝗦𝘆𝘀𝘁𝗲𝗺𝘀 & 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗜𝗺𝗽𝗮𝗰𝘁" with Nacho Floristan from Google and Veena Hausen from ASPIRE, moderated by Christelle Salame We had the honor of hearing HE Jean-Christophe PARIS, General Consul of France in Dubai and the Northern Emirates, who highlighted the collaboration between #France and the #UAE in the fields of #innovation and #technology. It was also inspiring listening to Vincent LucIAni describe the growth and evolution of #Artefact and its mission over the years while keeping the #Human at the center. Having placed a bet on the UAE a decade ago, Artefact MENA is now home to one of the group's largest offices in the world. With my fellow panelists, we explored the shift from generative tools to autonomous agents and what that means for enterprises, startups, and regulators alike. 𝙆𝙚𝙮 𝙞𝙣𝙨𝙞𝙜𝙝𝙩𝙨 𝙛𝙧𝙤𝙢 𝙩𝙝𝙚 𝙨𝙚𝙨𝙨𝙞𝙤𝙣: Eddy F. e& capital 🔹𝗘𝗻𝘁𝗲𝗿𝗽𝗿𝗶𝘀𝗲 𝗮𝗱𝗼𝗽𝘁𝗶𝗼𝗻 is slower due to higher 𝘁𝗿𝘂𝘀𝘁 𝗮𝗻𝗱 𝗿𝗲𝗹𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆 requirements 🔹𝗦𝗶𝗴𝗻𝘀 𝗼𝗳 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹 for startups solving for enterprise AI:    > Having worked on the problem 𝗯𝗲𝗳𝗼𝗿𝗲 𝘁𝗵𝗲 "𝗰𝗵𝗮𝘁𝗴𝗽𝘁 𝗺𝗼𝗺𝗲𝗻𝘁"    > 𝗗𝗼𝗺𝗮𝗶𝗻 𝗲𝘅𝗽𝗲𝗿𝘁𝗶𝘀𝗲 beyond the technical solution    > 𝗦𝗽𝗲𝗲𝗱 𝗼𝗳 𝗰𝗼𝗻𝘃𝗲𝗿𝘁𝗶𝗻𝗴 𝘁𝗲𝗰𝗵 𝗶𝗻𝘁𝗼 𝗶𝗺𝗽𝗮𝗰𝘁, not tech itself    > Focusing on 𝘁𝗵𝗲 𝗯𝗼𝘁𝘁𝗼𝗺-𝗹𝗶𝗻𝗲, 𝗻𝗼𝘁 𝗼𝗻 𝘁𝗵𝗲 𝗵𝗲𝗮𝗱𝗹𝗶𝗻𝗲     > 𝗗𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻, 𝗽𝗮𝗿𝘁𝗻𝗲𝗿𝘀, 𝗮𝗻𝗱 𝗰𝗵𝗮𝗻𝗴𝗲 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 remain critical for success 🔹𝗧𝗵𝗲 𝗙𝘂𝘁𝘂𝗿𝗲:  o #DesignTimeCollapse: Further compression of creative cycles (e.g., research, drug discovery, marketing design) and transformation of professional services o #RunTimeReliability: With maturing #Orchestration layers, agents will not only automate tasks but coordinate complex workflows across teams, systems, and silos Nacho Floristan Google Cloud 🔹 Agents are becoming developer-friendly and enterprise-ready. With Google's open-source Agent Development Kit (#ADK), you can build and test agents in hours. In real-world use cases like EV charger deployment, agents drastically reduced planning time by autonomously navigating maps, regulations, and data—an early glimpse of what’s to come in logistics, healthcare, and research. Veena Hausen ASPIRE 🔹 To scale responsibly, agentic AI needs governance by design. That starts with creators being transparent, users being educated, and clear accountability frameworks in place. The UAE is already taking the lead here; drone deliveries and AI-driven prescriptions will soon be part of this innovation-forward ecosystem. Thank you to Rahul Arya and Christelle Salame for a great event! #AgenticAI #EnterpriseAI #AIOrchestration #DigitalTransformation #eandcapital #Artefact

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