April 1, 2023

Taylor Daily Press

Complete News World

Leading American companies are struggling to find the right employees in Europe

Some successful venture capital firms in the United States are struggling to hire people to operate their new European locations. Many industry sources have pointed out that CNBC Said.

American venture capital heavyweights Sequoia Capital, Bessemer Venture Partners, Lightspeed Venture Partners and General Atlantic are all new additions. European Offices Opened or has begun significant expansions on our continent.

Said Hussein Kanchi, co-founder of UK venture capital firm Hoxton Ventures CNBC The big US venture capital firms consider recruiting the right people in Europe “super, very difficult”. He added that there were only certain appointments.

“There are very few trained people General Partners in Europe, ”he said. One key difference is that US venture capitalists tend to focus on growth, while European venture capitalists tend to prioritize risk reduction or elimination.

To some extent, they are competing with companies such as American venture capitalists Softbank, Its Vision Fund is based in London. Elsewhere, hedge funds such as Tiger Global and Kotyu are expanding in London.

Rare profiles

American venture capitalists want to hire tech investors who have previously worked on startup boards. According to Kanji, they generally do not like to hire strangers.

Another venture investor wants to remain anonymous as he recently works for one of the US funds expanded to Europe. CNBC The “VC (Venture Capital) profile” that many US funds want to see is scarce in the European industry.

“It does not mean there is no talent, it is clear, but the number of candidates targeting the people is very low,” he added.

See also  Kathy Wood: 'America is already in recession'

Nacent Industry

The venture capital industry is relatively new in Europe compared to the United States, where the industry has grown since the early days of the Internet.

Nevertheless, the venture capital sector in Europe has grown significantly in recent years. A decade ago, there were only a handful of venture capital funds and about 100 technology investors in Europe. Fast forward to today, there are thousands of venture investors in Europe. Many of them have only been in the business for a few years.