EUVC VC | E484 | Gloria Baeuerlein at Puzzle Ventures & Europe’s Solo GP Revolution
Jun 5, 2025
Gloria Baeuerlein, founding partner of Puzzle Ventures, dives into the solo GP model in the competitive European venture capital scene. She explores how AI is transforming SaaS pricing and delivery, emphasizing the shift towards outcome-based sales in construction tech. Gloria discusses the benefits of building a fund centered on personal strengths rather than conventional models. The conversation also touches on the fierce competition among seed and multi-stage funds, highlighting how solo GPs can uniquely outperform larger counterparts.
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AI's Impact on SaaS Delivery and Pricing
- Software will persist but delivery and pricing models will evolve significantly with AI.
- Outcome-based pricing will replace traditional user-based models in many SaaS applications.
Building Fund Around Personal Strengths
- Capital in venture capital is commoditized; differentiation depends on unique value add.
- Puzzle Ventures is built around Gloria's personal strengths, not replicating existing fund templates.
Raise Funds Aligned with Your Strengths
- Define your strategy based on your passion and expertise, not LP preferences.
- Raise capital that aligns with your authentic fund thesis and founder focus.