Let’s crack the shell and shine the spotlight on Varsity, the nascent venture capital firm that has surfaced, packing a mighty first fund. Assembled by a trio of powerhouses, one of which is a previous Société Générale high-ranking officer and the other two, veterans of the VC stage, Varsity has triumphantly amassed a neat €70 million (or $75 million, if you’re more familiar with our bald eagle’s currency) to inject into early stage startups across the globe.
1. Bursting Out of Stealth, Varsity Hits the Ground Running
What does it feel like to explode into the business world with utmost vigor? Ask the team at Varsity. This venture capital firm has not just announced its existence, but has come into the limelight with a solid first fund, indicating a robust start and promising future for the new firm.
2. The Brains Behind Varsity – A Formidable Trio
The founding team comes with a substantial reputation and rich experience. With the amalgamation of past executive acumen from Société Générale and VC engagement at Serena Capital, the founders have brought intense enthusiasm and commercial knowledge to the table, shaping Varsity’s vision and strategies to align with future market trends.
3. A Humungous First Funding Round
Securing a colossal €70 million in its first round, Varsity has defied the common notion that venture capital firms start small, building their portfolios patiently over several years. This dramatic beginning is testament to the individual capabilities of the team-members, who’ve used their unique skillsets to deliver a power-packed launch.
4. Eyeing the Early-Stage Startups
With a plethora of startups budding globally, Varsity makes its intentions clear, focusing primarily on the early-stage startups. This could mean two things: the new VC firm is willing to shoulder risk and they realize the potential of startups, responding eagerly and decisively to innovative startup concepts worldwide.
5. Not Just a Euro Affair
Operating on a global plane, Varsity isn’t just sticking to Europe, nor only dealing in Euro, which is clear from the conversion of its fund’s worth to USD. This wide-ranging focus underscores the firm’s commitment to seeking out promising startups, regardless of their geographical location.
There’s no doubt that Varsity’s spectacular entry is a page-turner in the venture capitalism narrative. It will be riveting to track how the firm leverages its assets, navigates risks and supports budding businesses in their growth trajectory.
Credit: BBC. TechCrunch, Reuters