Venture Capitalist Harry Stebbings Shakes Up the Tech Investment Scene
At just 28 years old, British podcaster Harry Stebbings has carved out a significant place for himself in Europe’s tech investment landscape. His venture firm, 20VC, recently announced the successful raise of a new $400 million fund for early-stage start-ups, catapulting him into the ranks of the top tech investors on the continent.
The latest backers of 20VC include prestigious names like the Massachusetts Institute of Technology, Thrive Capital’s Josh Kushner, and a myriad of tech founders and investors. Stebbings attributes a large part of his success to his popular tech podcast, The Twenty Minute VC, which boasts episodes with industry luminaries like OpenAI chief Sam Altman, Shein chair Donald Tang, and LinkedIn founder Reid Hoffman.
Despite surpassing last year’s record-breaking $11.5 billion in funding, UK-based VCs are projecting even more substantial growth, with forecasts suggesting they could raise over $12 billion by the end of this year. Established funds like Index Ventures, Atomico, Accel, and Balderton Capital have all made significant financial strides in 2022. However, Silicon Valley still eclipses European investments with its massive capital raises.
Stebbing’s 20VC is part of a wave of newer European firms, including Plural and Blossom Capital, challenging the established investors in the region. The tech industry’s financing scene has become more intricate post-pandemic, prompting firms to adapt and innovate in their fund-seeking strategies. Stebbings acknowledges that raising $400 million in the current environment presented a considerable challenge.
Beyond his successful podcast, Stebbings has expanded the capabilities of 20VC by incorporating three “sub funds” managed by former startup executives. These sub-funds focus on sales, growth, and product development, offering valuable insight and advice to portfolio companies. Despite a slower pace in dealmaking among private tech companies worldwide, there continues to be a substantial flow of capital into tech funds.
Stebbings remains cautious in his investments, highlighting the volatile nature of the tech industry, especially within consumer tech. While he has made bets on high-flying startups like Hopin, Clubhouse, and BeReal, he recognizes the importance of investing in companies that may not capture headlines but deliver consistent, enduring value.
As the tech investment landscape in Europe continues to evolve, Harry Stebbings and 20VC stand at the forefront, shaping the future of early-stage funding and steering the industry towards sustainable growth.
