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Europe remains hard to crack for North American GPs
While North American VCs can see the potential value in backing European startups, it hasn't been easy for firms to launch strategies.
From OMERs and Lightspeed to Bessemer Venture Partners, the market attracted firms of all sizes, and the Spotify IPO seemed to wake up North American VCs to Europe’s potential to create outsized exits. Sten Tamkivi, a partner at operator-led venture fund Plural based in Estonia, told TechCrunch that the startup market has changed drastically since he started off as a founder a decade ago. Rajan, from PitchBook, and Musielak both feel the European ecosystem remains largely underpenetrated despite its growth and the difficulties North American VCs face.
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