EUVC | E399 | Speedinvest’s Oliver Holle & OpenOcean’s Ekaterina Almasque on how to identify the next AI investment sweet spot
Jan 15, 2025
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Oliver Holle, Co-Founder and Managing Partner at Speedinvest, and Ekaterina Almasque, General Partner at OpenOcean, delve into the dynamic landscape of AI investing. They discuss how VCs are adapting to the rapid advancements in AI, particularly the rise of AI agents. The guests highlight emerging opportunities in sectors like healthcare and content creation, while addressing challenges in adopting AI technologies. They advocate for a reevaluation of traditional investment models to embrace risk and focus on specialized solutions for sustainable growth.
The podcast highlights the contrasting investment strategies of generalist and specialized VC firms, emphasizing the evolving landscape of AI across various sectors.
It underscores the importance of focusing on practical AI applications over foundational models, particularly in enterprise solutions that address specific business challenges.
Deep dives
Diverse Perspectives on AI Investment Strategies
The discussion emphasizes the differing investment approaches between generalist and specialized venture capital firms in AI. One perspective highlights a generalist approach, focusing on multiple verticals and recognizing that AI is becoming a central theme across sectors like consumer tech, fintech, health, and SaaS. In contrast, the specialized viewpoint concentrates on deep tech investments and identifies the need for businesses to adopt AI tools to improve efficiency and drive growth. This dual analysis showcases how the investment landscape is evolving as players adapt to the expanding role of AI in various industries.
Capital Intensity and Market Dynamics in AI
The conversation draws attention to the capital-intensive nature of investing in foundational AI models, likening it to the complexities of building a nuclear power station. This has made it challenging for smaller venture firms to engage effectively in foundational AI investments due to the high associated risks without adequate capital backing. Instead, there is a perceived opportunity in more predictable and less capital-heavy AI applications, particularly in the enterprise sector, where businesses require tools to manage data effectively. This creates a gap in the market that startups can exploit by offering solutions that address the unique challenges faced by enterprises adopting AI.
Emerging Waves of AI Technology
The speakers outline distinct waves of AI development, proposing that the industry is currently witnessing a transition from the second wave, characterized by generative AI, to the impending third wave involving AI agents. The third wave is anticipated to revolutionize automation and enhance operational efficiencies within organizations, prompting discussions on the need for improved infrastructure to support these advancements. Users express caution about potential misdirection in investments focused on foundational models instead of innovative applications that can leverage existing technologies to create tangible value. This highlights the need for strategic investment decisions that remain attuned to the evolving landscape of AI capabilities.
Future Investment Opportunities in AI
Looking ahead, the speakers identify critical areas for AI investment opportunities, including vertical applications, the facilitation of enterprise AI tools, and AI safety. There's a consensus on the necessity for investments that harness AI's potential in optimizing resource management, especially in sectors facing urgent challenges like healthcare and energy. The need for effective AI safety measures and compliance solutions is emphasized, as businesses will require robust frameworks before fully adopting AI technologies. This discussion underscores the growing importance of strategic foresight in venture capital, steering investments towards sectors that align with broader societal needs and technology trends.
In today’s episode, Andreas talks with Oliver Holle, Co-Founder and Managing Partner at Speedinvest, and Ekaterina Almasque, General Partner at OpenOcean, to unpack the current landscape of AI investing.
Speedinvest, a €500M generalist fund, and OpenOcean, a €150M fund specializing in AI and deep tech, offer contrasting yet complementary perspectives on how VCs are navigating the rapid advancements in artificial intelligence.
Together, we explore:
How SpeedInvest and OpenOcean approach AI investments and the strategic decisions behind focusing on specific layers of the AI stack.
The rise of AI agents and how this next wave of AI innovation shapes investment strategies.
Risk and opportunity in AI investing, particularly in foundational models versus applications and infrastructure.
Key AI disruption sectors include healthcare, enterprise solutions, and content creation.
Why VCs need to rethink traditional investment models when approaching AI startups.