Weak Signals.

We are officially in a market bubble.

In the quiet of summer, DealRoom published a list of Top 25 European investors.

For those who are not in the know, the EIC Scaling Club is an acceleration programme sponsored by the European Commission Innovation Council Fund (Europe’s largest deeptech fund).

Some of you took exceptions to law week’s comments on the AI bubble. In short, I am a luddite, who doesn’t get it.

Looking outside in, many outsiders don’t make so much difference between PE and VC funds. Hence the table below which has both.

When talking to VCs, they will often say that founders' talents trumps the technology prowess.

A chart attracted my attention the other day, showing how much of Europe's digital infrastructure is controlled by outsiders, the US in particular.

Back from the Tech Tour Growth Deeptech 2025 in Edinburgh.

“Buy-and-build” (B&B) has been part and parcels of PE strategies for a very long time.

One of the bugbears of European technology has traditionally been the lack of ambition.

Last week, we’ve had bubble-like news of the funding for SupersafeIntelligence (SSI, Ilya Sutskever) and Thinking Machines Lab (Mira Murat), both ex OpenAI AI, both pre-revenue and both even pre-product.

Looking outside in, many outsiders don’t make so much difference between PE and VC funds.

Europe doesn’t feed its own unicorns.