Alexander Korchevsky

Here’s a harsh truth: fundraising today is slow, costly, and unfairly tilted towards the well-connected. You know what I’m talking about. We’ve all seen it again and again.   Europe has brilliant founders with bold ideas, yet too many fail before they even get a fair chance. And don’t get me wrong, it’s not because they lack vision, but because the fundraising system is outdated. CORE changes that. Because founders get a digital co-pilot that levels the playing field: AI guidance, investor-ready decks, early visibility, and rounds live in under 72 hours.  For the cost of a dinner, every founder now has access to the tools, structure, and visibility once reserved for a few. The real cost isn’t trying, it’s waiting. This isn’t about building another tool. It’s about building Europe’s private market infrastructure, where preparation, raising, and managing capital become accessible to all. 👉 This is how we level the field: https://lnkd.in/dsYhQqnp

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Republic has just announced on September 30th the tokenisation of Animoca Brands’ equity on Solana Foundation, increasing investor access and liquidity for investors in one of the most iconic Web3 companies! This comes 3 weeks after the announcement of Nasdaq files proposal to SEC for the tokenisation of public equity. If both public and private equity is being tokenised, what is the difference between public and private equity from being tokenised? At least from a direct listing point of view and at least for Web3 companies it seems to very similar if not the same. There has been a few attempts of tokenising private stocks, especially by a few players this summer, but it has been more mirroring the underlying private stock and more trading of the economic benefits of the underlying stock than trading of the underlying stock itself. If the transactions facilitated by Republic of Animoca Brands shares on Solana turns out to be successful, it would be a true breakthrough in the tokenisation of private market stock! Tokenisation of private stock is not a new idea. I first engaged in the tokenisation of private market stock back in 2018, because of one of our earliest investment in True Global Ventures -- SharesPost (now part of Forge Global). SharesPost was at that time having a product in tokenisation of private stock. However there were many different issues from a technology point of view and from a legal point of view and that the best companies from an issuers point of view did not want to try it out. It looks like the technology has been there for quite a while, but now, both legal and regulatory is clearly defined. Most importantly, both issuers and buyers are ready to embrace tokenised equity. The benefits we saw in 2018 remain the same today: removing the 30 to 90 day settlement delays in secondary markets. Tokenised private equity has the potential to make transfers near-instantaneous, unlocking liquidity and access to a broader base of investors while maintaining compliance. 👉 Fast forward to today, and tokenisation is becoming reality on both the private and public market fronts: 🔸 On the public markets side, Nasdaq has filed with the SEC to tokenise every stock on its exchange. Once approved, this would create a dual system, where each share exists both as a traditional dematerialised share and as a blockchain-based token. 🔸 On the private markets side, we have Republic tokenising Animoca Brands' equity on Solana. Whether it happens this year or next, we’re on the brink of a profound transformation in how both private and public equity are structured, traded, and settled. Andrew Durgee Yat Siu Evan Auyang Emily Pollack #Tokenisation #PrivateEquity #PublicMarkets #Blockchain #NASDAQ

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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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Why I Don't Sign NDAs for Early-Stage Founders — And Why Founders Shouldn't Ask Your idea is your baby. I get it. But for VC, asking for an NDA before sharing that idea isn't protecting your future - it's limiting it. In my latest article, I break down why NDAs create more problems than they solve for founders seeking early-stage funding. I explain why VCs structurally cannot sign them (reviewing 1,500+ decks annually makes this impossible), why they signal inexperience rather than caution, and most importantly - why your execution matters infinitely more than your idea. If you're a founder worried about idea theft, this perspective might change how you approach investor conversations forever. I explain why trust is the real compounding currency in venture capital - not legal protection.

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𝐏𝐄 𝐯𝐬. 𝐕𝐂 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞: 𝐀 𝐭𝐚𝐥𝐞 𝐨𝐟 𝐭𝐰𝐨 𝐟𝐨𝐨𝐭𝐩𝐫𝐢𝐧𝐭𝐬 Our latest data at Gain.pro highlights how PE and VC firms invest across Europe: ▪ PE-backed businesses are widely spread across the continent ▪ VC-owned assets are clustered in cities 📊 Sector focus drives this: – VC assets = 47% TMT (vs. 17% for PE) → drawn to innovation hubs – PE = 24% Services + 22% Industrials (vs. 13% & 7% for VC) → broader geographic reach beyond capitals 🌍 Top destinations: – Both: London & Paris lead – VC: 25% of assets in 11 cities (Berlin, Munich, Amsterdam next) – PE: 25% spread across 22 cities (Stockholm, Milan, Madrid stand out) ➡️ Same continent. Very different maps.

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