Intro & Overview
At Angel Invest, we are currently building a complete landscape of all European VC fund management companies. We also include some fund managers who are outside of Europe, but have a strong European presence.
In order to be included, a fund manager must have at least one fund live that is actively being invested.
The landscape is not yet complete. We know we are missing some funds and some funds have incomplete data. If you are a fund manager and would like to be included or would like to update information, just click the relevant button in the Airtable and we will add you in short order.
Who are we?
Angel Invest is one of Europe’s most active super angel funds. We’ve made more than 100 investments and have co-invested with more than 150+ global funds – including tier 1 investors across Europe, US and Asia. We can be the first check into a company pre incorporation, can co-invest or lead pre-seed rounds, as well as co-invest in seed rounds. We make approximately 40 €100k angel/pre-seed investments per year and coach the founders to Series A.
Why did we create this landscape?
Initially we made it for ourselves. We wanted to understand who is in the market, investing where, at what stage, into what and with what portfolio construction. We then showed the landscape to some LPs who found it very interesting. So we thought we might as well put a bit of effort in and publish it. We hope it is a useful contribution to LPs and GPs alike.
We think this information is also useful to founders who are raising funding. After all, if you know the focus and portfolio construction of a fund, you can gain a much better understanding of how likely your round is going to be be a good fit with that fund.
What does it include?
The landscape is split into four sections:
(1) About the fund manager (Name, About, Website & Location)
(2) Investment focus of the fund (Sweet spot/stage of investment, Range of investment they can make, Sector focus & Geo focus)
(3) Latest fund information (Fund number, Vintage/year of last fund & Fund Size)
(4) Portfolio construction of the fund (Check size & range, Number of companies they will invest in from fund, Follow-on reserve & Target Ownership)
Feedback
Reach out to us If ever you have any questions about this landscape or have any feedback as to how we could improve it, please do contact us on the following email: [email protected]
Disclaimer
This is an initial version of the Angel Invest European VC Landscape. The data comes from the personal networks of the Angel Invest investment team, publicly available information, as well as input from the fund managers themselves. We would also like to highlight we have intentionally NOT ‘Tagged’ every single part of this landscape, as we know can be done in Airtable. We have done this as we have seen founders and investors become ‘trigger happy’ with filters – often missing brilliant and exceptional funds as a result. Although it means the user experience may not be as pleasant (at times), we hope it will yield greater results in the long run. And maybe in time we’ll make tweaks in this particular area.
Frequently Asked Questions (FAQ)
We will be editing the landscape as we get feedback from the community. We want to see how you use it, what questions you have and give you the answers you need. More to come…
Methodology:
In order to make this database as comprehensive and accurate as possible for V0.9, we had to collect/aggregate data from multiple data points/sources. A significant proportion was collected from openly available data points/sources, as well as verbal and written confirmations by fund managers. Publicly available sources included fund manager websites and PR press releases.
Below, we have broken down how each section of the database was populated and where the data came from. We understand that in some cases not all the data will be accurate, but we have tried our best to compile and aggregate as many different datapoints to give you an accurate overview before fund managers update this consistently in the future.
Main sectors:
Main sectors were collected and aggregated using four main data points/sources. These included: (1) Fund manager website, (2) press releases regarding their latest fund close/launch (which you will see in sources), (3) how they have invested across their portfolio (according to Crunchbase), as well as (4) personal relationships with fund managers who could confirm verbally or by completing/updating data directly in the database through the forms provided.
Main stages:
Main stages were collected and aggregated using four main data points/sources. These included: (1) Fund manager website, (2) press releases regarding their latest fund close/launch (which you will see in sources), (3) personal relationships verbally confirming or updating the database through the forms, and (4) a review of their portfolio from Crunchbase reviewing at what stage they invested their first ticket investments in their portfolio, over the last five years. We kept this at five years as we have seen a shift in how a stage is defined and the sizes of an average round at a specific stage. Where the stage was unknown, in a minority of cases or insignificant amount of cases, we created a benchmark around a range of capital invested, to a specific stage.
Main Geographies (in Europe & North America):
Similar to main stage and Sectors, data was collected using four main data points. These included: (1) Fund manager website, (2) press releases regarding their latest fund close/launch (which you will see in sources), (3) personal relationships verbally confirming or updating the database through the forms, and (4) reviewing their first check investments on Crunchbase, across a five year period.
First check distribution by stage & by geography:
In order to acquire the first check distribution by stage & geo, we reviewed more than 500 fund manager portfolios. We chose a five year period as we felt it would reflect a long enough period that accurately (as much as is possible) showcases previous investment activity as to what otherwise would be considered the average fund investment cycle/deployment period (5 years – often 3-5 years). We also made sure to exclude ‘follow on’ investments as part of this data, as we felt this would skew the focus .
Portfolio construction:
Portfolio construction, which includes the following variables: Fund number, Fund vintage (year), Fund size, Check size range, # companies per fund, follow-on reserve and target ownership, were calculated using four main data points/sources. These include: (1) Fund manager website, (2) press releases regarding their latest fund close/launch (which you will see in sources) and, (3) personal relationships with fund managers who could confirm verbally or by completing/updating data directly in the database through the forms provided.