Luca Mannucci, Managing Partner of Sella Venture Partners, shares insights into the firm’s dual strategies in venture capital investing. With a focus on providing European investors access to both primary and secondary allocations in VC funds across Europe and North America, Luca outlined how his team identifies opportunities, evaluates deals, and navigates the complexities of the market. From leveraging untapped opportunities in smaller tickets to exploring sectors like SaaS, fintech, and blockchain, Luca emphasized the importance of prioritizing asset quality over discounts.
1️⃣ Dual Strategies: Sella Venture Partners employs two strategies: primary allocations (top-tier VC funds) and secondary allocations (targeted liquidity solutions), balancing portfolios with a 60-70% primary and 30-40% secondary split.
2️⃣ The Quality Over Discounts Philosophy: While discounts in VC secondaries are significant, Luca emphasizes that the quality of assets is the most crucial determinant of success.
3️⃣ Untapped DealFlow: By focusing on smaller ticket sizes (€1-5M) and leveraging relationships with GPs, Sella accesses a wealth of deal opportunities in underexplored segments.
4️⃣ Sector Insights: Exciting opportunities exist in fintech, SaaS, and blockchain, as these sectors move past overvaluation and into periods of renewed growth.
5️⃣ The Power of Generalists: Generalist funds dominate Sella’s portfolio due to their adaptability, with exceptions for life sciences and cybersecurity, where specialist expertise is critical.
Ahead of her appearance at 0100 DACH in February, Daisy Cai, General Partner at B Capital, reflects on deep tech beyond the label—and where frontier innovation becomes enduring value.
AI is no longer a fringe technology—it is rapidly reshaping entire industries, from climate and energy to industrial operations and enterprise software. Yet as competition intensifies and barriers to entry fall, the question facing venture investors is no longer whether to invest in AI, but how to identify companies capable of generating durable, long-term value. In this interview, Jeremy Brown, Principal & Head of Climate at Anthemis, shares his perspective on evaluating AI businesses beyond the hype, drawing on his experience at the intersection of AI, climate, and complex industrial markets, and setting the stage for a broader discussion with fellow investors on where real opportunity—and real risk—now lies in AI venture capita
he third edition of 0100 International — organized by Zero One Hundred Conferences in partnership with the Milan City Council’s Department of Economic Development and Milano&Partners — brought together the global private markets community for a high-signal, execution-focused gathering held from October 27–29.
