Daphni recently joined the SUP46 family as Global Friends. They call themselves venture capital mutants. What does that mean and what can they do for the Swedish tech-startups? Why are they looking for startups in the Nordics? We have the answers!
Daphni is half a platform half a VC fund. How do this work and what’s the reason for this setup?
We have a digital platform where we have brought together our network of investors, entrepreneurs and experts. They help us through our whole investment value chain, from finding interesting startups, to evaluation and helping our portfolio companies grow.
When we decided to start Daphni, in 2015, we had three principles that we thought were indispensable to be disruptive: we wanted to be open, transparent and scalable. A platform is an organization model that makes these three requirements possible. While each industry was facing the emergence of platforms, we thought that there is no reason the VC industry would be an exception. We wanted to benefit from the incredible power of this kind of structure: network effects, scalability, collective intelligence and horizontal communication. We wanted to not only differentiate ourselves, but also build the best value proposition possible, for both our investors and our soon-to-be portfolio companies.
You are based in Paris but are actively looking for startups in the Nordics? Why this and why now?
We studied the biggest European startups to understand what they look like (see our article on TechCrunch). One of the lessons we learned is that European unicorns came from only six different hubs in Europe (Helsinki, Copenhagen, Stockholm, Berlin, Paris and London). Not only was it the sign that the ecosystem was already offering good investment opportunities, but it also meant that these hubs were starting to give birth to local mafias composed of serial entrepreneurs and employees that lived the unicorn journey from the inside. Another lesson was that startups were now following new rules and borders are disappearing. This is also true for startups and venture capital. We need to source the best talents and to support them the best possible way, we need to be present across Europe.
What are the three most interesting industries in France right now?
There are three sectors in which we are particularly interested these days: job market (which is about to be disrupted by a major actor in Europe), AI (which will be the next revolution after internet) and genomics (which need time to be understood and evaluated).
What kind of startups are you looking for?
We are looking for all the startups bringing a major disruption at a European or global scale. We invest in early stage startups, mainly in Series A rounds (and sometimes in seed stage and Series B). We focus on digital solutions broadly speaking, active in all kinds of sectors.
Why did you choose to start a partnership with SUP46?
We wanted a gateway to the Nordic market and we felt that Stockholm is a great place to start. In Stockholm, SUP46 is an important part of the ecosystem with great connections to the rest of Sweden and the Nordics. So to get a flying start on our Nordic expansion, we wanted to be a part of SUP46!