There’s no shortage of European start-ups for U.S. venture capitalists to back but there’s a lack of staff for them to hire, industry sources told CNBC.
Hussein Kanji, co-founder of U.K. venture capital firm Hoxton Ventures, told CNBC that the big U.S. VC firms are finding it"super, super hard" to hire the right people in Europe, adding that there have only been a handful of notable appointments.
Another venture capitalist, who asked to remain anonymous because they work for one of the U.S. funds that has recently expanded to Europe, told CNBC that the"profile of VC" that many of the U.S. funds like is less commonly found within the European space "I think Sequoia did an incredible job of hiring Luciana," Blossom Capital co-founder Ophelia Brown told CNBC, adding that there aren't many VCs in Europe with a"growth-oriented mindset."Elsewhere, Menlo Park-headquartered Lightspeed hired Paul Murphy from early-stage VC firm Northzone to lead its European outpost in London. Murphy led Northzone's investment in virtual event start-up Hopin, which was most recently valued at $7.
That said, Europe's VC industry has grown substantially in recent years. A decade ago, there were only a handful of venture capital funds in Europe and around 100 tech investors. Fast forward to today and there are thousands of VC professionals in Europe but a large number of those have only been VCs for a few years.
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