On Friday we woke up to discover that the democratic process which we respect deeply has made a historic decision for Europe. The outcome of this referendum is significant. Europe as we know it will change forever, irreversibly.
At 01Ventures, we are a VC that backs European founders building deep technology companies. The outcome of this vote does not change our mission. We are a European fund with no sub-geography bias and we will remain that way. Europe has an outstanding depth of research and multi-disciplinary engineering talent. Even faced with Friday’s news, our belief in the prospect of uncovering and investing in world changing technologies developed in Europe remains as true as it ever was.
We are proud to be based in London. We believe it to be the beating heart of European Technology, Innovation & Entrepreneurship. This remains true now and will remain true in the months to come. What is less certain is if London can retain this title over the medium or long term.
Times change, economic cycles change and political cycles change. They have in the past, they are again now and they will do so again in the future. Change and uncertainty are generally viewed as negatives; in our world they create opportunity. Regardless if you are one of the founders we have backed or are an entrepreneur we haven’t yet met our advice is the same: don’t panic and keep focused. Your mission now is the same as your mission before; the goals you have set, the metrics you are measuring, the customers you are serving, all remain unchanged and must continue to be the full focus of your attention.
To the founders who are not in the UK and are looking to work with us or seek investment from us, our message is clear; We’re still here – business is open as usual. We are a truly European VC fund and this is one certainty that will not change. If anything, we will be working harder than we already do to ensure this to be true.