United Ventures is one of the major VC funds in Italy backing up over 35 startups since its creation 10 years ago. The firm has invested in relevant companies such as Cazoo - the fastest-ever British unicorn; Everli - the leading European e-grocery marketplace that serves 135 cities around Europe; FACEIT - the leading competitive platform for online multiplayer games, with over 25 million users; and MusixMatch - the largest lyrics platform in the world with over 70 million users, to mention some.
Just weeks away from our upcoming 0100 Conference Mediterranean, we seized the opportunity to interview Paolo Gesess, Founder and managing Partner at United Ventures and a moderator at the conference. In our conversation, we delve into the pivotal topics that will keep tech investors busy in the near future.
What do you consider to be the most relevant fundraising challenges for tech investors?
"Tech VC investors currently face a major fundraising challenge known as the denominator effect. This refers to the need for institutional LPs to rebalance their asset allocation following a significant drop in tech valuations in the public market. Navigating the denominator effect requires careful strategizing and effective communication with LPs to demonstrate the long-term growth potential and value proposition of tech investments".
Since the year is entering its last quarter, do you consider the tech investing landscape to be recovered of last year’s tumultuous period?
"The tech investing landscape has entered a new paradigm, characterized by a more tempered approach, with valuations reflecting a more realistic assessment of market potential. Opportunities abound, making it a great moment to invest in tech. While uncertainties may persist, the long-term growth potential of tech companies is attracting renewed investor interest".
What do you consider to be the big problems that need to be addressed by tech innovation nowadays?
"The big picture is clear – we need more sustainable businesses and tech innovation plays a pivotal role in addressing the major challenges faced by society. By harnessing technology, we can drive efficiency, reduce environmental impact, and foster global knowledge about creating a more sustainable world. From clean energy solutions to circular economy initiatives, tech innovation holds huge potential to revolutionize industries and bring about positive change".
After the digitization impulse given by the pandemic, what are the undigitized sectors that United Ventures would be interested in tackling?
"Education and agriculture are indeed two significant markets with immense potential for making a substantial impact on creating a better world. Through technology, these sectors can undergo transformative changes, offering improved access to knowledge, personalized learning, sustainable farming practices, and increased efficiency".
Generative AI has shown potential for transformative business impact, do you consider it an innovation with long-term investment potential?
"Totally – I believe generative AI holds immense long-term investment potential and we could discuss its impact at length. While there may be instances of abuse and misinterpretation in the short term, its ability to automate processes, drive innovation, and solve complex problems positions it as a game-changer across industries. As generative AI continues to develop and mature, businesses can leverage its capabilities to gain a competitive edge and drive sustainable growth".
