Unpacking the European VC playbook with Frederic Court and Luciana Lixandru | StrictlyVC London

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European Tech Ecosystem

Sequoia Capital and Felix Capital discussed their experiences as venture capitalists in Europe.
Despite market cycles, both investors remain enthusiastic about investing in mission-driven founders who are passionate about solving problems.
Europe has strengths in decarbonization, data confidentiality, AI, and creative talent.
Attracting and retaining talent in the UK is challenging due to visa restrictions and competition from continental Europe.
Many successful AI companies in Silicon Valley have European founders or leaders.
There is a growing trend of European founders and leaders staying in Europe and building successful AI companies there.
Examples of successful European AI companies include Dust and Robco.
Hardware startups face challenges in terms of economies of scale and supply chain management.
Robotics is a promising area for European startups due to the strong robotics research and manufacturing base in Europe.
Clara is a successful example of a European tech company.
Europe needs more success stories in the tech sector to create a more vibrant public market and attract talent.

Investing in defense companies is an opportunity due to increased defense budgets in Europe.
Building a defense company is difficult and requires founders with the right market fit and the ability to communicate with buyers in the same language.
AI is still a promising sector for investment, with many opportunities in Europe and the UK.
Founders matter more than sectors when it comes to investment decisions.
OpenAI's recent controversy involving Scarlett Johansson's voice highlights the potential risks associated with foundational models.
There is excitement about the consumer applications of AI, particularly in areas such as personalization and curation.
The discourse around differences in ambition between European and US founders is outdated, as there are many ambitious European founders building large companies.
Role models and successful public companies in Europe have helped to inspire and support ambitious founders.

Investors are waiting to see how central banks will respond to economic conditions and adjust interest rates.
The frequency of interest rate discussions in partnership discussions is low.
The focus is on the company's fundamentals and readiness for going public.
Sequoia Capital takes a long-term view of investments, holding positions long after companies go public.
The past few years have shown that macro factors matter, but the focus remains on what can be controlled.
There was a misconception that venture capital was easy and making money was simple due to the abundance of money.
Sequoia Capital does not spend time thinking about interest rates and instead focuses on the founder.