Screw the Jockey, Bet on the Mafia. There's a saying in venture capital that goes "Bet on the jockey and not on the horse! " Hence the title! Sarah Lacy wrote a long post about "mafias" and those that ensued once companies such as Google, PayPal and so forth became successful. Feel free to go read it. It's kinda long but worth the time. Nevertheless, here is the paragraph that I feel is the money quote: Or maybe they’re all idealists who want to change the world. The above part of the post and the following section completely summarizes why these "mafias" exist and work: And like Facebook, companies like Asana, Path and Quora are trying to solve problems that are inherently social.
When you ask me what I like about venture capital and why I again, no matter how hard I try not to, get jealous about not being in the Valley, it's this. I see a lot of companies come and go. If, as an entrepreneur, you're asking yourself whether you should talk to VC's, think about the above. People will be spending ever more time online. Start-Up 100: The European ecosystem has arrived - or weren't you paying attention? The 10 Biggest European Startups. Start-Up 100: What's wrong with European venture capital? Everything That's Wrong With European VCs. France Tech scene.
German tech scene. Russian tech scene. Spanish Tech scene. Technology - Skype founders raise $165m for new fund. Niklas Zennström and Janus Friis, the founders of Skype, have raised a new venture capital fund for investing in so-called “disruptive” early-stage European technology. Atomico Ventures, the London-based group established by the pair in 2006, has raised $165m for its second fund, at a time when many venture capital groups are struggling to find investors.
The firm will focus on early-stage software and internet companies that have the potential to be “transformative”, said Mr Zennström. That model will be welcomed by British entrepreneurs, who have complained that in the downturn, investors have become more risk averse, making safer bets in later-stage companies. “The type of companies we are looking at are consumer-facing and also small business . . . that do not need to build up sales forces around the world to scale and grow,” Mr Zennström told the Financial Times. While Atomico will look for opportunities all over Europe, Mr Zennström said that London remained a hub for start-ups. Recent VC deals in Continental Europe.