Accelerator and early-stage advisory firm Mountside Ventures has announced their inaugural VC accelerator programme to empower emerging VC managers,
New and developing VC firms are consistently among the top 10 performers in the asset class, accounting for 72 per cent of the top-returning funds.
Compared to larger brands, they can provide better speed, value-add, founder optionality, and financial returns to LPs.
However, support for these investors is relatively scarce. While thousands of incubators, accelerators, and communities exist for startup founders, VCs face far fewer options despite facing more time-consuming, expensive, and complex fundraising challenges, prompting the launch of this industry first.
Whilst a limited number of programmes exist for emerging managers, by comparison, they operate more like incubators than accelerators, typically with a more restricted regional focus or minimum costs that follow freemium models, or range between €5k and €80k, all with a focus on first-time fund managers, without a focus on LP introductions.
The Emerging VC Manager Programme targets exceptional managers headquartered in Europe, specialist or agnostic funds, and investors at the Pre-Seed to Series A stage.
This annual VC programme represents the first structured programme for emerging managers headquartered in Europe. It is designed to support a cohort of 15 to 20 exceptional VCs in closing their next fund.
The Europe-wide accelerator is fully-funded by the programme’s corporate partners who share Mountside Ventures’ goal of widening access to Venture Capital.
Thus, entry and participation in the 12-week accelerator are free, with no hidden costs, to avoid selection bias and level the playing field for underrepresented managers who could otherwise be excluded.
Built to fit alongside busy general partner’s schedules, successful applicants will receive:
- Warm introductions to LPs through a series of in-person events across Europe, including London, Berlin, Amsterdam, Copenhagen and Helsinki, in addition to a curated list of international Limited Partners and family offices
- At least 10 hours of 1:1 mentoring from Founding Partners behind some of Europe’s most successful VCs and LPs, including Robin Klein (LocalGlobe), Haakon Overli (Dawn Capital), Sitar Teli (Connect Ventures), Hussein Kanji (Hoxton Ventures), Christian Stiebner (KfW), Charlotte Palmer (Integra) and James Heath (Dara5)
- Structured content focused on LPs with comprehensive guidance based on 200+ LP’s feedback and responses, optimised for face-to-face interactions
- At least six days of workshops delivered by LPs and fundraising experts over the 3-month workshop and a series of LP matchmaking events
Mountside Ventures has offered a series of free support targeted at the VC-LP ecosystem in recent years, including its main LP-focused annual VC conference, Funding Venture.
Mountside are also co-hosts of the London and Munich Venture Capital Academy educating Family officers on investing in tech, as well as publishers of various reports unpicking the European ecosystem.
Jonathan Hollis, Managing Partner at Mountside Ventures, commented:
“Europe is full of exceptional investors backing incredible founders. However, the fundraising pathway for these investors is challenging, opaque and often prohibitive. We’re here to work with the very best and to help them develop into equally strong fundraisers.
We are grateful to the incredible mentors and partners right across the fundraising ecosystem who are joining us in delivering this programme and we look forward to working with what we’re confident will become the vanguard of Europe’s next generation of fund managers.”
Gregor von dem Knesebeck, Managing Partner at Blue Future Partners added:
“Emerging VC managers are paramount for a thriving European tech ecosystem. By co-initiating the programme we express our strong and continued commitment to supporting the next generation of VCs.
This programme effectively enables a cohort of managers to access resources and funding to accelerate their fundraising in extremely difficult times.”
Despite analysis showing us mixed management teams generate six times more revenues, and surveys which tell us 87 percent of Europe’s VCs and LPs agree that increased diversity in venture capital leads to better performance, individuals meeting a basic definition of diverse remain significantly underrepresented.
For example, 2023’s figures show only 16 percent of Europe’s GPs were women.
The eventual emerging manager cohort will also receive training and advice from Blue Future Partners, who are contributing to the fund selection process for the participants, and corporate partners including fund administration partner HFL, legal partner Osborne Clarke, technology partner Sage, PR and communications partner Ballou, accounting partner Johnston Carmichael and regulatory partner Leela Capital - all of whom were selected due to their track record and credibility within the venture community.
Lead image: Mountside Ventures. Photo: uncredited.
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