London peeps — excited to host a fintech x ai breakfast next Friday (july 4) with Akash Bajwa. Come by! More details below:

🙏🚀

The beauty of generalist investment firms. “Colleagues who have a fixed sector focus, in contrast, have a short-term competency dynamo (being the most experienced in a sector or niche), but ultimately, they seem unhappy 20 years later, retiring from venture regardless of their

Public market performance and growth for large tech co's (NVDA, Oracle, MSFT, etc) completely challenge the outdated assumption of flat or declining terminal growth rates in DCF models.

Lovable crushing it! They're just getting started 🚀 Nikita Andersson Hummingbird Ventures Anton Osika – eu/acc

E‑commerce is moving from pixels to pipes. Agents using MCPs will route purchases; merchants who tuned for Google's algo will now look to Claude's reasoning. SEO’s role shrinks - the edge comes from structured data quality, reliable APIs, live inventory, and accurate ETAs.

Why falling in love with TAM or a business model at seed/A isn't effective. There are too many twists, turns, and unpredictable shifts along the way. The only constant variable that navigates through the uncertainty to build "modelbusters" is the quality of the team.

Huge milestone for Aspora as they launch in the US today! Already live in the UK/UAE/Europe, this next step into the US is huge for them as they build out a global fintech co. Congrats to Parth and team on incredible execution!

I suddenly hear and see the word "taste" everywhere. Not sure if it’s frequency illusion, the tech/VC echo chamber recycling itself, or if the word’s actually having a cultural moment. Maybe all of the above...

Congrats to Viswa Colluru and the rest of the team at Enveda! Amazing milestone and we're excited to be on this journey w you Hummingbird Ventures

"Heavy company", or what I like to think of as durability. Durability comes from operating a culture of mistake optimisation: taking bets while keeping the ones with asymmetric upside. Knowing the future is written in pencil, not pen, and fueling paranoia to continuously layer

An excellent piece from Nicholas Chirls on courage being the last true differentiator in venture. nickchirls.com/2025/10/09/cou…

Great to be on with Utsav Somani Dhruv Sharma 🙏

🙏

Buffet's few final thoughts in his final letter-

From Billy Oppenheimer's newsletter (check it out if you haven't). A reminder that early work looks like a derivative, but turns into something original only if treated as a craft / infinite game.

Thesis-driven investors are great as it shows intent and focus in an area, which founders naturally appreciate. But investors who anchor their investment decision on founders are less anxious through the ups and downs/pivots (if any) in a startup's journey.

This emphasis on exploration + focusing on founders stumbling upon ideas is what makes gradCapital so great. The comfort with ambiguity. It’s a subtle but underrated mindset shift away from the top-down worldview most investors lead with Prateek Behera Abhishek Sethi