E352 | Tzlil Kovetz, Vintage Investment Partners: Deep dive about the state of VC market in 2024

In this episode of the EUVC podcast, Andreas discusses with Tzlil Kovetz, Principal at Vintage Investment Partners.

With $4B in assets under management, Vintage Investment Partners is a global investment fund that focuses on three distinct strategies:

• A fund-to-fund play targeting early-stage VCs across Europe, the U.S., and Israel;
• A growth fund for early growth companies (typically Series B and beyond);
• A secondary fund invests in both funds and companies at various stages.

Vintage Investment Partners invests across all sectors and has made notable investments in companies like Wolt, Klarna, Mirakl, SentinelOne, Monday, JFrog, Yotpo, Holidu, and many others. In the European fund investment space, they've backed top-tier firms such as Accel, Creandum, PointNine, Seedcamp, BlueYard, and others.

Tzlil offers a unique perspective evaluating trends in both the European and U.S. venture markets. Her insights are sure to be valuable for anyone interested in the current state and future of VC.

Go to eu.vc for our core learnings and the full video interview 👀

Chapters:

03:14 Vintage's Global Investment Perspective
06:22 The European Venture Ecosystem
13:51 Fund Size Evolution in European VC
16:36 The State of the Venture Market in 2024
19:32 Impact of Geopolitical Events on VC
25:07 Opportunities in Venture Capital
26:09 Early Stage Gap in Europe
26:56 Market Adjustments and Seed Valuations
28:10 Challenges in Series A and B Rounds
33:18 Exit Markets Overview
35:33 European IPO Pipeline
38:58 Personal Journey into Venture Capital
41:00 Vintage Investment Strategies
46:26 Future of FinTech in Europe
51:02 Top Tips for VC Fundraising