2 minutes with Anne Glover: Making an impact in VC
We had the opportunity to interview Anne Glover, CEO and Co-Founder of Amadeus Capital Partners and a leading figure in the venture capital industry, about why she chose VC and what advice she would give to aspiring entrepreneurs. With 30 years of experience as a venture capitalist and 15 in investment in emerging markets, Anne has much to teach young entrepreneurs.
Anne Glover’s interview
For many, venture capital emerges as early-stage investors. Reflecting on her journey, Anne sees VC as being more of a partnership than a transaction, focusing on creating value and achieving success regardless of market conditions.
“Working with the most innovative entrepreneurs on the planet is just fundamentally so exciting, and then translating that into financial success is evidence of how we can change the world, disrupt the world, and deliver returns.”
Anne suggests that beyond achieving financial success, such partnerships can lead to transformative global impacts and disruptions. This viewpoint underscores how venture capital serves not only to generate returns but also to catalyse substantial changes in industries, reflecting a broader ambition to shape and influence the world through entrepreneurial ventures.
“It’s still true that you have to master your trade, whether it’s being a venture capitalist or an entrepreneur in a particular sector. It’s not something you can bluff.”
The venture capital industry is highly cyclical and influenced by external factors. External shocks can come from anywhere, making it impossible to predict market turns. True value creation comes from building great products and finding customers, irrespective of market conditions.
Anne notes that while Europe’s VC investment ecosystem has become more competitive and offers more choices to entrepreneurs, it still lags behind the US in terms of later-stage development. Developing a robust private sector ladder to support scaling companies is essential. This will allow companies to mature privately before entering public markets, ensuring they can withstand public scrutiny.
“The venture capital ecosystem has matured significantly over the past few decades. Technologists are now seeing entrepreneurship as a viable outlet for their innovations, which is a fantastic development.”
Anne finds immense satisfaction in seeing companies funded by her firm fundamentally changing industries. The realisation that their support was pivotal to a company’s success provides a profound sense of accomplishment.
Anne Glover’s journey and insights highlight the importance of vision, persistence, and genuine relationships in venture capital and entrepreneurship. Her experiences serve as an inspiration for aspiring entrepreneurs and investors, underscoring the transformative power of innovation and collaboration.
“I think too many people are impatient, constantly checking for immediate results. Instead, we need to nurture the ecosystem, understanding that superior returns will come with time.”
Satcoms' Muskonomics challenge
PARIS | June 26th, 2024 – BG IRIS, Bryan Garnier’s research platform, is pleased to release “Satcoms’ Muskonomics challenge”, an in-depth analysis exploring the dynamic landscape of satcoms and unveiling the intricate interplay between its main actors.
This industry brief is an assessment of the satcoms sector amidst the heightened risk of Starlink and Amazon duopolising the industry.
We also dive into three specific areas:
- The case for a Starlink-Kuiper duopoly: Learn about how these two satellite giants are poised to dominate satcoms
- The operators’ strategic stalemate: Explore how established operators are struggling to adapt to this new competition and are increasingly retreating to niche markets
- Space public & private and transaction activity: Get a glimpse into the current challenges faced by listed space companies
Within this industry brief, we also look at why gigaconstellations are likely to also target non-satellite markets, as well as providing a cost analysis of the different megaconstellations, and discussing the escalating debt costs and diminishing returns on capital of established operators. The report provides a full picture of what is happening in the satcoms sector today.
To dive deep into this topic and discover more about the changes affecting the satcoms market, download the industry brief.
Antoine Lebourgeois
Equity Research I Software and IT
BG Growth Series - Boiron
Emma
Welcome to the “BG Growth Series”, where entrepreneurs tell us about their inspiring stories, share invaluable insights, and offer practical tips to navigate the growth journey.
Boiron is a century old pioneering company in homeopathy, dedicated to developing, manufacturing, and marketing homeopathic medicines. Since 1932, Boiron has been sharing its passion for homeopathy with a compassionate, ecological, and comprehensive approach to medicine. Boiron’s journey is a testament to resilience and a long history of unmatched quality and innovation.
We sat down with the President and Chairman of Boiron to understand his vision and commitment to innovation. His leadership highlights the company’s deep roots in homeopathy with his family founding Boiron over 90 years ago, continuing to drive forward with passion and dedication.
In their latest phase of growth, Boiron sought a partner to continue developing the group internationally and make it a global leader in natural health. Bryan Garnier was selected for their expertise in mergers & acquisitions, debt financing and equity capital markets to support the family shareholders, the management team and the BOIRON Group at every stage of this complex transaction. The team demonstrated an exceptional ability in understanding Boiron’s unique needs and helping to find the right partner to support U.S. expansion – EW Healthcare.
Boiron’s journey showcases a fundamental shift in how we perceive and deliver medicine, providing an alternative that many healthcare professionals and patients worldwide appreciate for its efficacy. With visionary leadership and unwavering dedication, Boiron is poised to continue transforming lives on a global scale with a holistic and ecological approach to medicine.
Watch this episode of BG Growth Series to learn more about Boiron leading the way in homeopathic medicine.
Bryan, Garnier & Co continues its growth and announces a series of promotions to strengthen its European presence
These strategic promotions come at a critical time as the financial sector faces various challenges, including heightened market volatility, inflationary pressures, and regulatory changes across the EU. Our team has successfully completed over 60 transactions in the past 12 months across our core sectors: Software & Fintech, Healthcare, Energy Transition & Sustainability, Industrial Tech, Business & Tech-Enabled Services, and NextGen Consumer. By bolstering our leadership team, Bryan, Garnier & Co aims to address these issues with enhanced expertise and stability and providing robust advisory services to clients, adapting to the evolving economic landscape.
Greg Revenu, Co-founder and Managing Partner of Bryan, Garnier & Co, comments “We are very pleased to be promoting our talent in line with the organic growth of our franchises, which attract many talented individuals and enable them to develop and progress rapidly in their careers in support of our clients. With these promotions, Bryan Garnier continues to grow steadily and now has more than 80 Directors, Vice Presidents & Associates, 20 Managing Directors and 16 Partners in Europe, including two new Partners – Jonathan Bohbot and Paul de Mestier – who were promoted this year.”
Olivier Garnier, Founder and Managing Partner of Bryan, Garnier & Co, adds “These promotions demonstrate our commitment to excellence and to the collective growth of Bryan Garnier, both in our sector specialisations and in our transactional expertise. This year we have been keen to promote our top performers in 4 key verticals – ECM, Healthcare, Cleantech, and Debt Capital Solutions. By investing in our teams, we are consolidating our positioning and strengthening our ability to support growth stocks over the long term in constantly changing markets.”
Grégoire Angleys
Equity Capital Markets
Grégoire Angleys is a Managing Director in the Equity Capital Markets team in the Paris office with pan-European coverage. He has over 10 years of Investment Banking experience in ECM with private placement capabilities and track-record. Before joining Bryan Garnier, he worked at Europe Offering advising US-based hedge funds investing in European healthcare and technology companies through structured products. Grégoire holds an Advanced Masters in Corporate Finance from emlyon business school and Master’s degree in Corporate and Market Finance from Grenoble IAE.
Grégoire Angleys states “I am proud to pursue my journey at Bryan, Garnier & Co, backing European companies at the forefront of innovation. Our DNA is as the trusted advisor across the lifecycle of our clients, bringing tailored solutions and thoughtful advice to founders, managers and shareholders in fast-evolving environments. Bryan, Garnier & Co’s expertise is deeply rooted in sustainability, as demonstrated with our deals with Waga Energy, Carbios and Avantium. I look forward to continuing to back the visionary teams that create technologies and solutions to address our world’s biggest challenges, notably the green transition.”
Raphael Bidaut
Investment Banking | Healthcare
Raphaël Bidaut is a Managing Director in the Healthcare practice and located in our London office with pan-European coverage. He joined Bryan Garnier in 2021 and has over 12 years of Investment Banking experience in the Healthcare sector and initially as an ECM specialist in IPOs, follow-ons and convertibles bonds for large and mid-cap companies. Raphaël graduated from Edhec Business School with a dual Master in Corporate Finance and Management.
Raphaël Bidaut states “I am honoured to be promoted after a record year from many different perspectives for the Bryan Garnier Healthcare franchise. I look forward to supporting more healthcare entrepreneurs and investors and continuing to develop our activities internationally in coordination with our 7 offices. Our Healthcare team has collectively a unique sector, M&A and equity/debt fundraising expertise. I am excited to continue leveraging them for CRO, CDMO, consumer healthcare companies and care providers.”
Paul de Froment
BG IRIS
Paul de Froment is Managing Director in Bryan Garnier’s research team IRIS and Head of the Cleantech research team. He is based in Paris and joined Bryan, Garnier & Co as an Equity Research Analyst in 2021. He previously worked at Kepler Cheuvreux for more than six years as an Equity Research Analyst focusing and small and mid caps, where he developed a solid knowledge in the fields of tech and biotech industrials. Paul holds a Master’s degree from La Sorbonne and Sciences Po Bordeaux (MSc Finance and Capital Markets).
Paul de Froment states “I strongly believe that Bryan, Garnier & Co’s unique combination of deep sector expertise and market vision will continue to position it as a key player in the Energy Transition & Sustainability landscape. Stepping into the role of Managing Director at IRIS, my focus will be on seeking innovative and valuable insights in cleantech and continuing to build a reference team in the sector. I’m committed to supporting companies as they embrace new technologies and sustainable practices to accelerate the shift to a cleaner world.”
Will Jungman
Equity Capital Markets
Will is a Director in the Debt Capital Solutions team and located in our London office with pan-European coverage. Prior to joining the firm, Will served as consultant to Bryan Garnier during which he executed several ECM and DCM deals across the Technology and Healthcare sectors. Will has a structured finance background, having spent five years working with UK property developers and operators. Prior to his career in structured finance, he worked within Deloitte Consulting’s Finance practice. Will holds an MBA from the Wharton School.
Will Jungman states “At Bryan, Garnier & Co. we pride ourselves on finding bespoke financing solutions which fit our clients’ needs. In an environment of higher interest rates and lower equity risk appetite, we have created and expanded our Debt Capital Solutions offering to provide a variety of non-dilutive or minimally-dilutive private debt products. These include landmark deals such as the structured debt financings of Abivax and Calliditas. My goal as a Director is to educate our clients on the types of private debt available to strengthen their balance sheet and fund their growth, while leading our experienced team in executing fundraisings in venture debt, growth lending, convertibles, and other private debt for European growth companies.”
Welcome to our Q1 2024 Quarterly Report
Welcome to our Q1 2024 Quarterly Report, carefully curated with topics that we believe will be of interest to our clients and partners. We also share M&A market commentaries and the latest Bryan, Garnier & Co deals in the Healthcare, Software & Fintech, Industrial Tech, Energy Transition & Sustainability, and Business & Tech-Enabled Services and NextGen Consumer sectors. This report, we deep dive on:
- The Plastic Revival
Global plastic production and usage of plastic could quadruple by 2050. Delve into the ongoing plastic revolution with recycling investment opportunities and emerging trends. - Supply Chain Symphony
By 2030 the markets for Transportation Management Systems (TMS) and Warehouse Management Systems (WMS) are expected to reach $31.2 billion and $13.3 billion respectively. Explore supply chain investment opportunities and an in-depth analysis of the market. - M&A deals activity
Gain a deeper understanding of the M&A market in our sectors of expertise and the profound impact of the current macro environment, as our partners provide their invaluable perspectives.
These insights are designed to empower investors looking to navigate the ever-evolving market trends.
Download the report and stay ahead of the curve. Have questions or want to explore opportunities further? Contact us at communication@bryangarnier.com and let us advise you through your growth journey or help you spot the best investment opportunities.
