Daily Musings

Evening all

top down. Bottom up. Common ways to estimate market sizes. Today also a fitting description for th direction from which the rain poured. Walking home no AI solution or iOS innovation could have solved my problems. A rain poncho was what I would have needed. Tempted to wrap myself in cling film to repell the streams of never ending perticipation, I share my unsually dry musings.

Cheers
Philip

Today’s Stories

UK based Vsim - the physics simulation R&D innovator - bags USD 24m in seed round. Led by EQT Ventures. Factorial Funds, Samsung Next, Tru Arrow, Xora, IQ Capital, Koro Capital, Concept Ventures, Lakestar, and Carles Reina participated. Simulation tools today: Built for a limited degree of freedom and for fixed environments. The simulation tools required in the future: Need to make model robots making decisions in real time and in changing environments - this is where robotic capabilities are being progressed towards and the simulations thereof need to adapt. Aother tidbit: The founding team is ex-NVIDIA. I can imagine this will have been a recurring KIH amongst investor’s IC memos

Chart Art

The EU VC fundraising landscape has been slacking. We also deploy more than we raise. Some blurbs:

• Since 2003 global VC funds have invested 10x more in US than in EU start-ups

• ⅓ of EU unicorns have left Europe since 2008 - a lack of access to financing often cited as a reason

This is right in line with Draghi‘s recent report: A European Tech Renaissance will require new structures and dedicated funding to digitalise the ecosystem. Europe is uniquely positioned. A high density of leading innovation and research hubs. The region continues to give birth to game changing start-ups. Now we need to also make foster an environment to nurture and keep those companies

While looking at significant maturity walls in 5-6 years, small caps also have yet to recover on performance metrics public market investors are cheerleaders for: EPS

Sweden lowers rates expectations again. Terminal rate about 175bps under current levels. For some extra central bank shenanigans: The Swiss central bank steered away from neutrality - 25bps cut delivered today with more headroom