In the dynamic world of venture capital, building a successful fund requires focus, authenticity, and collaboration. Ander Michelena, General Partner at Accurio Ventures, exemplifies these traits. Known for co-founding Ticketbis and raising a €150 million venture capital fund, Ander provides a strategic blueprint for leaders eager to sharpen their impact. This article explores how his approach, centered on selective investing, strategic partnerships, and brand authenticity, sets him apart in the venture capital ecosystem.
From Ticketbis to Accurio Ventures: Ander Michelena’s Journey
Ander Michelena's journey from entrepreneur to venture capitalist offers an intriguing case study. After selling Ticketbis to eBay's StubHub in 2016, Ander launched Accurio Ventures (formerly All Iron), focusing on early-stage European startups in Series Seed and A rounds. Drawing from his experience at Morgan Stanley in M&A, Ander applies a founder’s perspective combined with investment acumen Mordor Intelligence.
The Power of Singular Focus
Michelena believes that committing to one core area breeds unparalleled success. "Focusing on one thing allowed us to build a level of expertise and reputation," he shares, advocating for depth over breadth. Accurio's model limits investments to about 50 across Europe, fostering deep relationships with startups and optimizing the risk-return balance. This strategy aligns with industry best practices, where targeted efforts often yield superior results CepymeNews.
Collaborative Investment Model
In a competitive field where leading rounds often dominate, Accurio takes a collaborative approach. By co-investing smaller stakes alongside major funds like Northzone and EQT, they foster amicable relationships rather than rivalry. "We see ourselves as friends, not competition," Ander explains, underscoring a philosophy that emphasizes mutual success over zero-sum competition Faraday VP.
A Strategic Rebranding: From All Iron to Accurio
Rebranding from All Iron to Accurio Ventures was more than a name change—it was a strategic alignment with their European mission. The name "Accurio" honors Juan de Accurio, an unsung navigator from Magellan's expedition, symbolizing Accurio’s supportive role in startups' journeys. This rebrand emphasizes their pan-European reach and commitment to enabling ventures without overshadowing them Private Equity International.
Breaking Geographic Constraints
Operating from Bilbao, outside traditional startup hubs, Accurio Ventures embraces a distributed model. Michelena argues that location is less important than connectivity and vision. "Being outside the main hubs forces you to build stronger networks," he notes, highlighting the viability of remote team models in today’s global landscape Market Screener.
Expansive Deal Sourcing
Accurio Ventures reviews nearly 300 deals weekly, accessing about 70% of European opportunities. This is made possible through sophisticated networks and data-driven systems, allowing them to cherry-pick the highest potential startups. This scale offers insights into trends and cross-border opportunities missed by others Views by Pol Interview.
Embracing High-Impact Sectors
Focusing on high-impact sectors such as deeptech and healthtech, Accurio aligns its investments with market trends. In 2024, deeptech accounted for nearly a third of European VC investments, and healthtech continued to attract substantial capital CepymeNews. Michelena’s selective focus ensures that Accurio backs startups with robust technologies and defensible market positions.
Key Takeaways
- Singular Focus: Mastering one area enhances expertise and results.
- Collaborative Partnerships: Shared successes outshine competition.
- Brand Authenticity: Align identity with mission for strategic clarity.
- Geographic Flexibility: Use connectivity to expand beyond local limits.
- Data-Driven Sourcing: Build extensive networks to capture top opportunities.
Frequently Asked Questions
Why is geographic flexibility important in venture capital?
Geographic flexibility allows VCs to build diverse networks and access talent pools beyond local ecosystems, enhancing their reach and adaptability Market Screener.
What makes Accurio's investment model unique?
Accurio's model is unique due to its focus on non-competitive collaboration, partnering with other funds rather than leading rounds, which fosters stronger industry relationships Faraday VP.
Why did Accurio change its name from All Iron?
The rebranding to Accurio was to align with their strategic vision of enabling startups while maintaining a pan-European identity Private Equity International.
How does Accurio Ventures choose its investments?
Focusing on high-impact sectors such as deeptech and healthtech, Accurio seeks defensible, technologically robust startups with global scalability CepymeNews.
What are benefits of collaborative investing?
Collaborative investing creates a network of support and shared success, reducing adversarial competition and increasing value for all parties involved Faraday VP.
Conclusion
Ander Michelena’s strategy for building a pan-European venture capital fund redefines success. By prioritizing focus, collaboration, and authenticity, Accurio Ventures not only supports startups but elevates the entire ecosystem. As the venture capital landscape evolves, Ander’s insights offer a compelling narrative for embracing change and redefining success. Watch the full video: Vendí mi startup por 165M€ en 7 años.
References
Mordor Intelligence - European Venture Capital Market Growth - URL
CepymeNews - Key Investment Sectors in Europe - URL
Faraday Venture Partners - Transformation of European VC - URL
Views by Pol Interview - Accurio Ventures Team - URL
Private Equity International - Accurio Ventures Rebranding - URL
Market Screener - Geographic Flexibility in VC - URL
