Valkin aims to leverage his network and make relatively small investments, which larger funds may not be able or willing to participate in. His strategy is to help founders raise Series A rounds through his connections and operational know-how. Valkin's approach is more common in the U.S. than in Europe, but the trend is changing with angel investing becoming increasingly common among European entrepreneurs. Andrena Ventures has received backing from investment vehicle Taavet+Sten, run by Wise co-founder, Taavet Hinrikus, and Teleport co-founder, Sten Tamkivi, signaling validation for Valkin's thesis.
Key takeaways:
- Andrena Ventures, a solo GP fund based in the U.K, is looking to invest in second-generation startups at the pre-seed and seed stages, particularly those founded by alumni from successful fintech companies.
- The firm has raised $12 million from several VCs and entrepreneurs and is led by Gideon Valkin, who plans to fund talent with roots in European and British fintech, but is open to other sectors as well.
- Andrena has already made its first investment in Nustom, an AI startup founded by Monzo’s co-founder, Jonas Templestein, and plans to contribute between $100,000 and $400,000 to rounds that will be led by others.
- Valkin's strategy is to leverage his network to gain access to hot deals and help founders raise Series A rounds, a value proposition that is more common in the U.S. than in Europe.