Beyond PayPal and Skype: Inside Europe’s Surging VC Mafias and their Offspring Firms

Venture capital firms, or VCs as they are commonly known, have long been the unsung heroes of the startup ecosystem. In Europe, this is changing as VC giants emerge as major catalysts, carving out their own ‘mafia-like’ networks innovating the investment scene. Much like the storied paths of tech mafias like PayPal and Skype, leading European VCs such as Seedcamp, Earlybird, and Atomico have become sources of multiple VC spinouts. This trend is not only reshaping the European landscape but also enhancing the overall functioning of the tech startups ecosystem.

Continuing this legacy of innovation, Seedcamp, a pioneer in Europe’s investment ecosystem has given birth to numerous investment firms. Berlin-based firm Tiny VC, Zone II Ventures and the proptech entity Concrete VC, are just a few of the ventures to emerge from the Seedcamp mafia.

Atomico has also followed suit, with several key figures branching out and creating their own investment entities. Matias Ljungman founded data-driven early-stage firm Moonfire, while Hiro Tamura has launched Yuma Capital. With new VC firms continually emerging, it’s clear that Atomicos’ influence extends far beyond their headquarters.

‘Accel’ has also left a formidable mark with Fred Destin spinning out to launch Stride.

The emergence of these VC networks hold several implications. By spreading their skills, knowledge, and capital, these spinoffs are fuelling the birth and growth of many more ambitious tech ventures. The distinctive mafias they are forming offer more than just financial backing—they are developing a powerful ecosystem that catalyses innovation, advancement and competitive dynamism.

The VC mafias are more than just a pattern of trend, they are the testament to their parent companies’ success and influence in strengthening the investment landscape and fostering the growth of tech entrepreneurship across Europe.