Björn Heinz

"ETH takes an equity stake in spin-offs, usually two percent." 👍 ETH Zürich now offers some of the best terms for spinoffs in Europe thanks to their new Equity and Licensing Policy. Very happy to have played a small part in this thanks to Vanessa Wood and Frank Floessel. 🇨🇭 Other European universities should take note. European deeptech would be much better off with universities creating less friction for spinoff founders, and a big way for them to create less friction is via offering healthier terms. https://lnkd.in/emdx87jp

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Huge milestone for the US power industry and for the team at ElectronX⚡ They’re now the first US-regulated, direct-access electricity derivatives market, with DCM and DCO approvals from the CFTC. This unlocks a new set of tools for energy asset operators and larger users to better manage short-term price volatility and risk. We believe this market infrastructure will help unlock a cleaner, more resilient grid. It’s been a privilege to partner with Sam Tegel, CFA and the team as they’ve built toward this moment. Their vision and persistence have been incredible to watch, and this is just the beginning. Congrats to everyone involved. Looking forward to what's ahead! https://lnkd.in/g85acSHq

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The VC secondary market is on fire. But many LPs are rushing in without fully appreciating the risks. VenCap International plc has been active in VC secondaries (LP positions only) since 1987 — and this is one of the hottest markets we’ve seen. In the first half of 2025 we reviewed $6.5bn of secondary VC deals — a 41% jump from the $4.6bn we saw in the same period last year. This includes both GP-led and LP-led deals. Here are 4 lessons we've learned from nearly 40 years of buying secondaries: 1️⃣ Power law still rules – a few companies will drive most returns. 2️⃣ Quality over discount – our best deal was bought at a premium to NAV. 3️⃣ Know the valuation policy – different VCs can value the same company very differently. 4️⃣ Factor in manager behavior – holding winners vs. selling early can make or break returns. VC secondaries ≠ PE secondaries. The risks are different — but for LPs who can access the right deal, at the right price, the rewards can be exceptional.

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According to new data from Cleantech Group, 17% of all cleantech venture capital in 2024 went toward physical, science-driven technologies — including battery materials, fusion, electrolyzers, green cement, and sustainable fuels. These areas are foundational infrastructure for the energy transition and Europe is especially well-positioned to lead this shift. We are home to more than 400 cleantech manufacturing plants, with Germany as a central hub across almost all relevant technologies. The Innovation Fund, financed through the EU Emissions Trading System (ETS), is now among the largest global programs supporting the deployment of low-carbon technologies at an industrial scale. Recent funding rounds underscore this commitment: ▶︎ Sweden: €448.9M ▶︎ Netherlands: €401.5M ▶︎ Germany: €352.3M (including €150.3M for hydrogen, €200M for solar energy) But capital allocation alone won’t secure leadership. If Europe is to lead this phase of the energy transition, we would need: → Long-duration capital that understands how physical technologies scale and → Stronger public-private coordination to bridge early deployment gaps   This is also a topic close to the heart of our new colleague Vera Kunz. We recently sat down to talk about her journey — from cutting-edge research at Cambridge to deep tech VC — and what excites her most about scaling science-led solutions. 👉 Read more about her story and her passion for deep tech: https://lnkd.in/dkWqNMz8 #Venturecapital #AI #Deeptech #Startups   Follow us for strategies and resources for Deep Tech founders and VCs!   And get access to exclusive content on deep tech startups like ATMOS Space Cargo, planqc, smedo.gr, and SENISCA in our newsletter:   https://t2m.io/EV2qHQuo

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How Bitcoin mining could scale water abundance In arid coastal regions such as much of Africa, desalination is critical to getting water to the people The problem is it's expensive, which means only wealthy MENA countries typically do it. But this could be about to change. MARA recently partnered with Zero Two (a digital asset firm backed by Abu Dhabi's sovereign wealth fund) to use the region's abundant solar energy to address water scarcity by integrating mining operations with desalination Here’s how it works: Historically, energy-intensive desalination in UAE relies heavily on fossil fuels By capturing and redirecting waste heat from solar-powered bitcoin mining rigs for distillation, the project reduces desalination's energy costs while improving efficiency. It’s also decarbonizing. The setup uses revenue from Bitcoin mining to subsidize desalination infrastructure, lowering the cost to produce water Studies show heat recovery can reduce desalination's energy footprint by 20-30%, meaning more water- per-$ invested, improving water abundance in the region. The facilities even use seawater for immersion cooling of mining hardware, which is then heated and repurposed for desalination. This approach minimizes freshwater consumption while enhancing desalination output. Incredibly, in water-scarce nations like UAE, this model not only improves water abundance, but also accelerates the transition to renewable-powered desalination by making excess solar energy more economically viable. Amazingly, as recently as 2023, a media article circulated claiming Bitcoin mining used excessive water (a claim that arose from a 5-page study, since discredited). The latest data now shows that a typical Bitcoin mining operation uses less water than an average family home.

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"Going to the US is hard." - This mindset is costing European founders billions in missed opportunities! Yet, European VCs say this constantly. I've seen this play out too many times: Step 1: European founder gets traction. Starts thinking US expansion. Step 2: European VC: "Focus on Europe first. We know people in Berlin." Step 3: Founder stays in a €50M market instead of chasing a $500m one. Step 4: US competitors own the market before the EU founder even enters. For founders, a US investor is an important signal for US hires and US customers. Index Ventures even reports that 52% of founders say US investors are crucial for winning America. Only 6% think they're irrelevant. If you want to build a global company, get a US investor or a transatlantic one.

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