Radu Georgescu

Don’t decide in the board room how AI should be used in the org. Give everyone in the company access to the best AI tools and let them figure it out. This was brilliance delivered by Victor Riparbelli (Synthesia) during last weeks chat w Anton Osika (Lovable) and Des Traynor (Fin). Those who dare to unleash AI in their orgs will have massive gains. Just control that your data is protected (better paying for enterprise tools than having employees run with free unsafe options on their own). And then you can figure out the guardrails etc. as you go and see where they are actually needed. There are of course nuances here depending on what type of business you are etc… But you get the point.

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𝐏𝐨𝐰𝐞𝐫 𝐥𝐚𝐰 𝐢𝐧 𝐕𝐂 The latest Dealroom.co Power Law 2025 report highlights: 👉 Just 2% of companies create 89% of all value. 👉 0.02% of companies create 61% of total returns. 👉 Only 1.2% of VC-backed startups ever become Unicorns, and 1.4% hit $100M+ in revenue. This is why: - Early-stage investing is a game of outliers. - Founders need to be clear on power law dynamics when building and fundraising. - Investors need conviction to double down on the rare few companies that truly break out. For founders, playing the traditional VC game: - You are not aiming to be “average” – you’re building something that could sit in the top 1%. - Traditional VC investors are not looking for “safe bets,” they’re looking for outliers – the kind of vision and execution that moves the needle. 👏 Huge congrats to LocalGlobe/Phoenix Group for topping the EMEA & UK rankings – proof of their long-term conviction in founders. 👏 Special shout-out to Chris Adelsbach for making the top 25 UK list as an angel investor! 👇 Full report in comments HSBC Innovation Banking Lauren

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Defense is definitely a big topic for investors and will remain so for many years. It requires specific knowledge and a network, for sure. But specialization is always tricky. After 6 years of investing and 60+ investments, here's what I've learned about fund specialization: 𝗧𝗵𝗲 𝘁𝗿𝘂𝘁𝗵? 𝗜𝘁'𝘀 𝗻𝗼𝘁 𝗯𝗹𝗮𝗰𝗸 𝗮𝗻𝗱 𝘄𝗵𝗶𝘁𝗲. Yes, focus matters. Investors need specialization to recognize promising tech and provide meaningful post-investment support. This is especially true for solo GPs, where specialization makes big sense—it allows you to build deep expertise and a strong network within your domain. But too narrow a focus can be dangerous—you might miss exceptional founders or be forced into subpar deals just to fit your thesis. 𝗠𝘆 𝗴𝗼𝗹𝗱𝗲𝗻 𝗿𝘂𝗹𝗲: I'd rather back a great founder with mediocre tech than amazing tech with a weak founder. Especially at pre-seed, which is my playground. Defense tech is very specific example. It's a massive, complex sector that absolutely requires domain expertise. But "defense" itself is incredibly broad— from logistics and HR solutions to drones and cybersecurity. True specialization might mean focusing on a specific niche within defense. The real opportunity I see? 𝗕𝗿𝗶𝗻𝗴𝗶𝗻𝗴 𝗰𝗶𝘃𝗶𝗹 𝘁𝗲𝗰𝗵 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻𝘀 𝘁𝗼 𝗱𝗲𝗳𝗲𝗻𝘀𝗲. Armies face the same operational challenges as any large organization—logistics, talent management, procurement efficiency. 𝗕𝘂𝘁 𝗵𝗲𝗿𝗲'𝘀 𝘁𝗵𝗲 𝗿𝗲𝗮𝗹𝗶𝘁𝘆 𝗰𝗵𝗲𝗰𝗸: European defense procurement is a maze. Startups can't afford the infrastructure to navigate country-by-country acquisitions across UK, France, Germany, Poland, and beyond. How many investors can truly support their portfolio companies across all these markets? Building a network that will really help globally is a tough job. Defense investing also sits 𝘀𝗼𝗺𝗲𝘄𝗵𝗲𝗿𝗲 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝗩𝗖 𝗮𝗻𝗱 𝗣𝗘. With well-funded primes and underfunded R&D, we're likely seeing more early M&A exits than unicorn outcomes. Fund economics and LP expectations need to align with this reality. Unlike the ESG hype, defense has real money and genuine need behind it. The market dynamics are fundamentally different. Majority of ESG startups I have seen were tackling the bureaucracy related to ESG. Real deep tech solving a real environmental problem with a good business case can be easily financed even now. https://lnkd.in/eJGm7VJY

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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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If you cannot out-raise your competitor, you will have to out-execute them. Many founders around pre-seed have adopted the somewhat strange perspective that success in building a business is measured in how much money it raises. In a simple world, it is the other way around - you build successfully with momentum, which allows you to raise (if you want to), which allows you to grow even faster. On that path, being more resource-constrained will often lead to smarter capital allocation decisions. It makes you build more capital efficiently. Money helps to grow - but it certainly does not measure success. Particularly not today. Companies that are more capital-constrained can win very well, through building AI first, ruthlessly focusing on execution and building differentiated tech with very real customer value. It takes blood, sweat and tears to build successfully - and the path is rocky. Thank you for the great and open conversation around this and some other themes we are seeing emerge, Trevor! https://lnkd.in/deSrgcJm

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These are the rockstars of Europe's AI sector: Anton Osika, CEO of Lovable, just announced $130 million ARR, Victor Riparbelli, CEO of Synthesia, says they reached $100 million ARR in April. Full story: https://lnkd.in/dwjhDNjg

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