The venture capital industry gather once again in Berlin, as LPs look to the investment opportunities of the the future
It was mid way through SuperVenture when Atomico’s intermediate State of European Tech report (a half year update on its annual flagship report) landed, with some fairly bleak stats on the market landscape. Yet despite European tech investment volumes tracking at around half of 2021, there was a feeling of optimism at Berlin’s Palace Hotel, as the venture capital (VC) community met at Super Venture to discuss the latest investment opportunities and market trends.
As is always the case in the VC community, a lot can change in a year. Where side discussions at SuperVenture would have quickly jumped to crypto in the past, this year debate swiftly moved to AI, its opportunities and its risks. There will always be hype and a bandwagon to be jumped on at VC events, but we were reminded in the opening talk, given by Adam Street’s Ross Morrison, just how resilient the VC market has proven itself over many years, despite its recent challenges.
Speaking in favour of this argument was Kerry Baldwin, Founding Partner at IQ Capital, who discussed how European VC is faring in a difficult macro environment – and whether there is any room for optimism. Having announced the $200m close of its 4th deep tech fund on the opening day of SuperVenture, IQ Capital is effectively a poster child for what is possible within venture capital.
More importantly, the close of IQ Capital’s fund shows that while many VCs are finding fundraising a challenge right now, there are LPs out there, looking to invest in the right opportunity. As SuperVenture has continued to grow each year, it was clear from the discussions taking place at the many networking events that the conference has become an unmissable date in the calendar for LPs. It’s not just the broad market trends that are covered, the event digs into the important detail, focusing on topics such as the reawakening of the secondaries market, and how it can be used to offer flexibility during periods of economic uncertainty. It’s this level of detail and the calibre of the speakers that take part that provide an air of optimism to the VC market in challenging times.
As with any VC conference, the day does not finish with the host’s closing remarks. Indeed, this is for many, the real starting point and the side events/drinks parties did not disappoint. While there is an official drinks event each evening, the art is then peeling off to the more exclusive parties. Berlin is intoxicating and can lead you to a glorious sunset from the PANAM rooftop lounge in the west of the city to some of the more experimental activities taking place in the east. As the saying goes: Nothing (Super) Ventured, nothing gained.
