Users Buy the Product. Organisations Buy the Company.
Product-market fit proves users want the product; procurement fit proves the organisation can buy the company, and in regulated Europe that second fit is an investable asset.
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Why Regulated-Industry Startups Are Capturing Disproportionate Series B Capital in Europe: What the Investment Thesis Actually Requires
TLDR: Regulated-industry startups in healthtech, insurtech, legaltech, and compliance-tech are capturing an...
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ONWARD Medical Skipped Swiss Funds, Found European Specialists, and Reached a Euronext IPO
An investor read: a 'no' from the wrong-mandate fund is information about fit, not a verdict on the company.
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Investors Decide on Founders in the First Ninety Seconds, Not the Pitch Deck
From the other side of the table: what an early-stage investor is actually underwriting is the founder, not the slides.
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A 25% Stake Can Be Worth Zero: How Liquidation Waterfalls Really Pay Out
Liquidation waterfalls pay senior preferred shareholders first, so a 25 per cent ownership stake can return nothing — ownership percentage anchors expectations that seniority quietly overrides at exit.
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Where April 2025 Digital Health Capital Actually Went
April 2025's biggest digital-health cheques went to diagnostics, metabolic hardware, care-operations software, and fertility infrastructure. Where value compounds next.
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AI Screens Deals 537× Faster, but Venture Fees Keep Climbing
An AI agent now screens early-stage deals 537 times faster than a human analyst, yet venture management fees keep rising — because the fee was never only the price of screening labour.
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The GLP-1 Endgame: Value Is Migrating Off the Molecule
Lilly catches Novo, Ypsomed sells diabetes care, Virta cuts GLP-1 use, WeightWatchers files Chapter 11. Where the next decade of obesity-care value sits.
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Venture Funds Stopped Returning Cash. LPs Rewrote the Scorecard Around DPI.
Distributions to paid-in has overtaken paper marks as the number limited partners trust, and the 2017 vintage shows even strong funds returning roughly a quarter of committed capital eight years in.
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Oncology's Data Gold Rush: The Asset Is the Patient Data
In 2025 pharma majors moved from buying AI to building it on someone else's data. Tempus and ConcertAI showed the asset in oncology AI is the patient data.
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