E305 | EUVC | Stephan Heller, Founding Partner at AQVC on AQVC's investment strategy and approach

Today, we have with us Stephan Heller, Founding Partner at AlphaQ Venture Capital. AQVC is an innovative, evergreen VC fund of funds focused on small VCs globally and democratizing diversified access to venture capital.Stephan is a seasoned tech entrepreneur and investor passionate about nurturing the next generation of innovative companies, developing robust platforms, and cultivating thriving ecosystems. Over the past 15 years, he has been deeply involved in the entrepreneurial landscape. Stephan also co-founded five companies, including a leading deep-tech startup accelerator for one of the largest high-tech corporates in the world and establishing a successful and innovative VC fund of funds.Go to eu.vc for our core learnings and the full video interview 👀Chapters:00:13 Diving Deep into AQVC's Approach00:35 Stefan's Unique Framework for Evaluating Funds03:24 The Criteria for Evaluating Emerging Managers03:38 Alignment and Uniqueness in Funds04:14 Evaluating First-Time Funds: Challenges and Strategies05:09 The Hustler Mentality in Venture Capital05:59 Building a Firm with a Vision06:37 Technical Aspects of Fund Evaluation08:26 The Journey from First to Second Time Funds09:03 The Role of Reference Calls in Due Diligence10:46 Deep Dive into Track Record Validation11:27 The Challenge of Investing in First-Time Investors18:39 Evaluating Fund Performance and Strategy Execution21:18 Understanding DPI Creation in Third Time Funds24:04 Closing Thoughts and Future Plans