Index Ventures opens store in New York

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Ventures IndexThe venture capital firm, founded in Switzerland in 1996, based in London and since 2011 in San Francisco, is opening its fourth office in New York.

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The new outpost will be run by two Index veterans – Shardul Shah, who joined the company 14 years ago as a Summit Partners employee, and Martin Mignot, who joined the team 12 years ago as an investment banking analyst at UBS. Shah comes from San Francisco; Mignot moved from London.

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We spoke with them yesterday about the move, and they quickly noticed that Index has a long history of investing in New York startups, with more than a dozen portfolio companies now and about 20 over time, including monitoring company Datadog. public in 2019.

However, according to them, Index decided it was time to open the store for a variety of reasons. First, the New York office allows the firm to better serve its teams and founders in San Francisco and London, given that the city is in the middle of a ten-hour time zone stretching from the Bay Area to Tel Aviv. Shah noted.

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Image Credits: Ventures Index

The new outpost should give the Index improved access to talent in New York and growing technology hubs much closer to New York, including Toronto and Miami.

Mignot also noted that while European entrepreneurs moving to the US may have historically gone to the West Coast first, New York is now the first port of call. “The time difference is more manageable. The city has reached a point where there is enough talent and early customers to [rationalize] formation of a full-fledged team on the ground. It is also very diverse and cosmopolitan. Half of the technical workers in the city were born abroad.”

The 26-year-old firm has other reasons to open its first new office in more than a decade. Shah pointed to the growing presence of Facebook, Amazon and Google, which only opened last month. 1.3 million square foot headquarters in Hudson Square.

Image Credits: Daniel Jones

Also in New York: a host of hedge funds, private equity funds and other growth-stage investors that Index has been working more closely with in recent years, investing as it has more and more capital. Indeed, less than a year ago, the Index announced a record $3.1 billion in capital commitments for new seed funds, early stage funds and growth funds.

Asked about the slowdown in market growth at a later stage, as well as the almost closed IPO window, Shah insisted that “85% of our companies have healthy balance sheets, and as a result, none of them are dependent on going public.” as a way to access capital.” Meanwhile, Minho suggested that as slow down, it’s a good time to write fresh checks. “Perhaps many tourists have left the market,” he said.

Either way, the new office will be good news for the East Coast founders, given Index’s impressive track record over the year both globally and in the region. (Some of his local bets include SquareSpace, a website building company that became public last year; cloud security company Wiz, rated by its backers as $6 billion Last failure; and crypto infrastructure company Fireblocks, which was also highly acclaimed – $8 billion when he last closed a round in January.)

This can also be good news for aspiring venture capitalists and venture capitalists who are looking for a change of scenery. While Index is building a 10-person team in its new space, it has already started hiring and continues to seek out everything from administrative help to strategists and, yes, new investors.

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