Rob Halliday-Stein

SCOOP: Graphcore CEO to launch deeptech VC fund --- Graphcore founder and CEO Nigel Toon is set to launch a new growth-stage deeptech fund, following a bruising year for the sector in Europe that saw a number of darlings fall by the wayside. Toon, who is still chief at the AI chip maker following its acquisition by SoftBank last year, is launching the vehicle with Ekaterina Almasque, who was previously general partner at Finnish VC OpenOcean, according to Companies House filings. The new fund is called BlankPage Capital, will launch in 2025 and invest at growth stages in the UK and Europe, according to a company website seen by Sifted. A pop-up on the site invites LP investors and deeptech companies to get in touch. While Europe boasts world-leading research institutions, commercialising science-based technology has proved difficult in the region. In 2024, a number of once hyped unicorns, including EV maker Arrival, electric plane startup Lillium and battery company Northvolt all filed for bankruptcy. Full story: https://lnkd.in/e2R86TWv

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Huge milestone for the US power industry and for the team at ElectronX⚡ They’re now the first US-regulated, direct-access electricity derivatives market, with DCM and DCO approvals from the CFTC. This unlocks a new set of tools for energy asset operators and larger users to better manage short-term price volatility and risk. We believe this market infrastructure will help unlock a cleaner, more resilient grid. It’s been a privilege to partner with Sam Tegel, CFA and the team as they’ve built toward this moment. Their vision and persistence have been incredible to watch, and this is just the beginning. Congrats to everyone involved. Looking forward to what's ahead! https://lnkd.in/g85acSHq

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How Bitcoin mining could scale water abundance In arid coastal regions such as much of Africa, desalination is critical to getting water to the people The problem is it's expensive, which means only wealthy MENA countries typically do it. But this could be about to change. MARA recently partnered with Zero Two (a digital asset firm backed by Abu Dhabi's sovereign wealth fund) to use the region's abundant solar energy to address water scarcity by integrating mining operations with desalination Here’s how it works: Historically, energy-intensive desalination in UAE relies heavily on fossil fuels By capturing and redirecting waste heat from solar-powered bitcoin mining rigs for distillation, the project reduces desalination's energy costs while improving efficiency. It’s also decarbonizing. The setup uses revenue from Bitcoin mining to subsidize desalination infrastructure, lowering the cost to produce water Studies show heat recovery can reduce desalination's energy footprint by 20-30%, meaning more water- per-$ invested, improving water abundance in the region. The facilities even use seawater for immersion cooling of mining hardware, which is then heated and repurposed for desalination. This approach minimizes freshwater consumption while enhancing desalination output. Incredibly, in water-scarce nations like UAE, this model not only improves water abundance, but also accelerates the transition to renewable-powered desalination by making excess solar energy more economically viable. Amazingly, as recently as 2023, a media article circulated claiming Bitcoin mining used excessive water (a claim that arose from a 5-page study, since discredited). The latest data now shows that a typical Bitcoin mining operation uses less water than an average family home.

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"I could be the Lionel Messi of mining, but ..." Hg's Nic Humphries shares advice for young and old people about what to learn or study in the age of AI. Watch the entire conversation on Alt Goes Mainstream here: https://lnkd.in/erQGkAMK

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Oaktree just posted a job for “SVP, Head of AI” with a base salary of up to $225,000. This is one of the largest investment firms in the world, with over $200 billion in assets under management, hiring for what will be one of the most consequential roles of the decade… at a compensation level barely competitive with mid-level engineers at OpenAI or Anthropic. The mismatch says everything. AI will reshape every layer of capital markets, from risk modeling to deal sourcing to asset pricing. It’s not a “tech add-on.” It’s the new foundation of value creation. OpenAI and xAI are paying $800K–$1.5M for senior AI engineers. Meta reportedly offered nearly $1 billion in total compensation to poach top AI researchers from rivals. Even Disney offered more for its “VP of Collaboration and AI”. Meanwhile, legacy finance still views AI as an IT function rather than a strategic capability. That gap is the opportunity. The next era of investment firms will be built by those who see AI not as a tool, but as the strategy itself.

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"The tragedy of Europe’s current trajectory lies not in any inherent inability to compete, but in the apparent lack of will to do so... ...European companies possess the financial resources, technical expertise, and market access necessary to become global leaders in battery technology. What appears to be missing is the strategic vision and long-term commitment required to build indigenous capacity rather than accepting dependency." This aptly - and sadly - describes the reality of much of Europe's approach to technology, innovation, and industrial policy in recent decades. Every time you think, "damn, this has gotta be the time that Europe snaps out of it and wakes up", it seemingly hits the snooze button again. “This raises a fundamental question that should alarm every European policymaker: Is it truly beyond the capabilities of Europe’s industrial titans to develop and manufacture their own battery technology?” 💯 There are a loooong list of fundamental questions that European policymakers can't answer...or worse, they confidently and arrogantly answer wrongly. "The CATL project in Spain serves as a stark reminder that while Europe debates and deliberates, China acts." 🎯 "Energy security, which Europe has painfully learned cannot be taken for granted, becomes inextricably linked to Chinese industrial capacity and political decisions." Europe doesn't seem willing or able to learn from its mistakes. https://lnkd.in/eVNizh6V

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The Lightrock team are proud to have co-led Makersite’s €60M Series B, alongside Partech, with SE Ventures joining and continued backing from all the company’s Series A investors. Manufacturing accounts for more than a fifth of global emissions, and companies are under increasing pressure to reduce climate impact while remaining competitive. Makersite is meeting that challenge by making product design and manufacturing smarter – and, in turn, delivering resource, energy, and cost efficiencies in addition to positive climate impact. The company’s AI-powered platform helps manufacturers like Microsoft and Schneider Electric understand their supply chains by fixing fragmented and inconsistent product data, enriching it with one of the most comprehensive supply chain databases available, and enabling real-time analysis of cost, carbon, compliance, and risk – all throughout the product design process. With its scalable, technology-driven business model and proven impact, Makersite aligns perfectly with Lightrock's investment thesis: The company embraces sustainability not just as a trend or tick box, but as a strategic business advantage. Congrats to Neil D'Souza and the ‘Makernauts’ on this milestone success, which you can learn more about from Sifted’s coverage and the company’s announcement - both linked in the comments. The Lightrock team is excited to support Makersite’s next stage of growth. #Lightrock #AI #ClimateTech #Manufacturing #ProductDesign #SupplyChain

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NLC Health Ventures is a masterclass in building a studio without raising capital upfront. Here’s what they did: 1. Licensed dormant IP from EU universities as the foundation for new companies. 2. Secured MOUs to access that IP, turning untapped potential into opportunity. 3. Approached trusted angel investors with compelling pitches: - The IP. - The market opportunity. - Their track record of successful company building. Investors said yes. That funding didn’t just launch portfolio companies—it also covered the studio's operating costs. For 3+ years, they built 3+ companies annually with this model. But their genius didn’t stop there. NLC Health excelled in disciplined evaluation: - Only pursuing IP worth their time, resources, and vision. This is a repeatable playbook. Consider the untapped IP in many ecosystems: - Universities. - Corporates. - State governments. It’s just sitting on the shelf. The Venture Studio model can transform dormant IP into real-world value. NLC Health proves it. Special thanks to Bert-Arjan Millenaar (Founder and CEO of NLC Health) for building a leading example within this space. 

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