If you were a solo venture capitalist – or solo GP as they are called – during the 2020-2021 boom, you might be in trouble now, especially since valuations at that time often fell. However, while the Solo GP model has been around in the US for a few years, this VC model came late enough in Europe to become a more viable route for many European startups finding slim choices from multiple partners. . Venture capital funds in this bear market.
Taking advantage of this trend, for example, Hypernova, a $25 million fund of funds that spear last year aimed at funding solo GPs in Europe.
The trend is palpable.
Highlight companies spear in Romania last year, with renowned ecosystem player Bogdan Iordache at the helm. In the United States last year, Nichole Wischoff’s Solo GP company, Wischoff Ventures farm a second fund of $20 million. This year in Asia, AngelList alum Wing Vasiksiri hit an AUM of $14 million, for example.
The latest to join the Solo GP party in Europe is a player in the log-time tech scene Robin Haak.
he throws himself Robin Capital, which he says has now reached a first close of €3 million and is targeting a final close of €10-20. It will participate in angel, pre-seed and seed funding rounds.
The former founder of Jobspotting (acquired by SmartRecruiters Inc. of San Francisco in 2017) was an early investor in N26 and has made over 20 other investments, including Frontify, Algolia and Aircall. Haak was also previously general partner of Revaia Growth One.
Robin Capital’s current portfolio consists of inaugural investments in Beam, Kombo and M2.
Haak told me he has a “network of hundreds of operators that source and service. I also have a value-added sponsor base including Fabrice Grinda (one of Alibaba’s early investors), Julian Blessin (co-founder of TIER Mobility) and Jerome Ternynck (founder and CEO of SmartRecruiters).
Haak describes his fund as “focused on outstanding entrepreneurs, software subscription businesses, primarily in Europe, Israel and the United States.” It will be vertical-agnostic and mostly pre-seed to seed.
“Our investment strategy spans Europe, the United States and Israel, informed by my direct involvement in those regions,” he told me over email.
“I’ve helped build companies like SmartRecruiters in the US, Revaia in France, Jobspotting in Germany, Axel Springer in Israel and Slush in the Nordics. As we are based in Berlin, it is expected that the DACH region will continue to be a strong base for us,” he added.
Solo GPs, if timed their fundraising right, can get pretty big.
Last year, Streamlined Ventures, led by Ullas Naik, secure $140 million in new capital commitments for its two most recent funds, bringing the total funds under management to eight with assets under management reaching approximately $325 million.