EUVC
EUVC | E385 | Inovia's Michael McGraw European LPs and why a higher risk appetite could pay for itself
Dec 4, 2024
Michael McGraw, Principal at Inovia Capital, shares his insights on the European venture capital landscape. He discusses how European LPs can benefit from a higher risk appetite, drawing lessons from Canadian investment strategies. The conversation delves into Inovia's selective approach to scaling Series B to pre-IPO companies across Europe and North America. Michael also highlights the challenges faced by European LPs and the importance of building relationships in the venture ecosystem. Notable success stories, including investments in companies like Lightspeed, illustrate the potential for innovation.
54:09
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Quick takeaways
- European LPs could significantly enhance their investment portfolios by adopting a higher risk appetite, mirroring the dynamic Canadian market.
- The fragmented structure of European pension funds limits effective venture capital investments, contrasting sharply with Canada's centralized system.
Deep dives
European LPs and Risk Appetite
A significant point discussed is the potential benefits for European Limited Partners (LPs) if they adopt a higher risk appetite. Drawing on his experience from working at a large Canadian pension fund and Inovia, Mike McGraw emphasizes that a willingness to embrace risk could lead to greater returns. He parallels the investment ecosystems in Canada and Europe, highlighting that Europe's relatively conservative investment approach might limit opportunities. By contrasting this with the more dynamic Canadian market, he suggests that European LPs could enhance their portfolios and contribute to local ecosystems by seeking out higher-risk, high-reward investment opportunities.
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