E349 | EUVC | Robert Lacher, Visionaries Club on on bridging the gap between old family businesses and the European startup ecosystem
Sep 5, 2024
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Robert Lacher, Founding Partner of Visionaries Club and a venture capital expert, discusses bridging the gap between traditional family businesses and the innovative European startup ecosystem. He highlights the importance of family firms in driving innovation and their collaboration with modern startups. Lacher also contrasts the European and US VC landscapes, advocating for a more risk-taking investment culture. The conversation emphasizes the significance of strategic networking and building strong foundations for emerging companies in Europe.
Robert Lacher emphasizes the critical need to bridge the gap between traditional family businesses and the modern startup ecosystem to drive innovation.
Visionaries Club stands out by leveraging its unique network of successful entrepreneurs as investors, offering both financial support and mentorship to startups.
The philosophy of 'manufacturing serendipity' highlights the importance of intentional networking and proactive relationship-building in identifying business opportunities.
Deep dives
Visionaries Club Overview
The Visionaries Club, co-founded by Robert Lacker, has established itself as a significant player in the venture capital landscape with $600 million in total assets under management. The fund is split between a $185 million seed fund and a $165 million early growth fund, targeting seed and early growth stages across Europe, particularly in B2B and software sectors. Lacker's background includes an engineering education and extensive experience in the startup ecosystem, leading to the realization of a major disconnect between family-owned businesses and new startups. By connecting these two worlds, Visionaries aims to leverage the strengths of successful entrepreneurs and family businesses to foster innovation and growth within the European market.
Connecting Old and New Economies
A core insight from Lacker is the importance of bridging the gap between traditional family-owned businesses and the startup ecosystem, which is often seen as disconnected. He emphasizes that family entrepreneurs, who represent a substantial portion of the economy in Europe, possess the long-term vision and capacity for risk-taking that align well with the startup mentality. By including family entrepreneurs as limited partners, Visionaries facilitates relationships that can provide resources and mentorship to emerging companies. This connection is proposed as a potential key to unlocking innovation across European industries, as it combines historical business strength with modern entrepreneurial agility.
Unique Value Proposition of Visionaries
Visionaries distinguishes itself from other venture capital firms through its unique network of successful entrepreneurs as investors, providing authentic and practical support to founders. Lacker notes that the firm's LPs include notable unicorn founders and family business leaders, which enriches the network available to portfolio companies. This approach fosters an environment where founders receive not only financial backing but also invaluable guidance from individuals who have navigated similar challenges. The emphasis on relationship-building and mentorship positions Visionaries as more than just a source of capital, but as a strategic partner in company development.
Manufacturing Serendipity
A central philosophy at Visionaries is the concept of 'manufacturing serendipity,' which refers to creating opportunities and fostering connections intentionally rather than leaving it to chance. Lacker highlights that proactive engagement and networking are essential for identifying and supporting promising startups. This framework involves systematic efforts to build relationships and support systems, allowing the firm to capitalize on unexpected opportunities and ideas. The success of this approach is illustrated through case studies of previous investments that materialized from the strategic cultivation of connections rather than mere coincidence.
Long-term Focus and Market Insights
Lacker emphasizes the necessity of a long-term view when approaching investments in venture capital, advocating for a patient and deliberate strategy in fund development. He argues that emerging managers should ideally start small, focusing on building strong performance before scaling up their funds to maintain quality and returns. This perspective involves a commitment to understanding market trends and responding effectively to the evolving needs of the startup ecosystem. The goal is to create a sustainable model for growth that prioritizes solid partnerships with founders and impactful investments over rapid expansion.
In this episode of the EUVC podcast, Andreas discusses with Robert Lacher, a Founding Partner of Visionaries Club. Robert's journey in VC is impressive. He was also one of the Founding Partners of La Famiglia when they launched their first fund, and he's since gone on to make waves with Visionaries Club. Let's talk numbers for a moment:
Visionaries Club currently manages a total of $350 million USD
$185 million seed fund
$165 million early growth fund
Headquartered in both Germany and the UK, with offices in London and Berlin, Visionaries Club has strategically positioned itself at the heart of Europe's tech ecosystem. Their focus? Seed and early growth stages, particularly in the B2B and software sectors. Robert’s investments include Personio, Choco, Miro, Pigment, Tacto, and Babbel, just to name a few.
Today, we'll dive deep into Robert's strategy, exploring why they've structured their funds the way they have, and getting his insights on the European VC landscape. Get ready for an enlightening conversation that will leave you with a new appreciation for the intricacies of venture capital in Europe. So, without further ado, let's welcome Robert Lacher to the show!