Insiders suggest that top American venture capital firms are struggling to find European talent as they expand across the Atlantic.
Heavyweights including Sequoia Capital and Lightspeed Venture Partners have commenced notable expansions in the past year, and multiple industry sources told CNBC that firms are finding it difficult to find the right people to lead their continental teams.
Hussein Kanji, co-founder of UK VC firm Hoxton Ventures, told CNBC: “There are few trained general partners in Europe.” He added the key difference between the UK and US model is that the former looks at removing risk, whilst the former looks at growth. This suggests that the culture of firms is different, making the task of hiring even more complicated.
Additionally, the venture capital industry is relatively new in Europe compared to the US, meaning that the number of years of experience is not as readily available as in the States.
Whilst the ecosystem has grown in the past few years, one source told CNBC that US firms are looking for candidates who can be “instantly successful”, rather than ones that need training.