Just a few weeks after 20VC announced its third investment vehicle, TechCrunch has learned from multiple sources that the relatively new VC firm based in London is gaining a new general partner. Julien Codorniou is leaving Felix Capital, where he has been a founding advisor since 2015 and a partner since 2021, to join 20VC to focus on early-stage investments.
A New Addition to the Team
Harry Stebbings launched 20VC in 2020 as the venture capital extension of his eponymous podcast series. The podcast was built as 20-minute episodes that were interviews with founders, investors, and operators; and 20VC, with an inaugural fund of $8.3 million, was initially envisioned as a ‘micro VC’: Stebbings would invest smaller amounts alongside bigger backers, providing skills and advice on growth alongside his money.
However, just like Stebbings’ interviews these days have become much longer than 20 minutes, 20VC has also grown. In 2021, it closed a $140 million fund. And for its third fund two months ago, 20VC managed to secure $400 million. Around $125 million of that fund is dedicated to seed investments and $275 million will be allocated toward Series A rounds.
A Significant Achievement
Given that there are few acquisitions and even fewer IPOs in Europe these days, raising $400 million in the current tech environment could be considered an achievement. It also proves that Stebbings has built a successful media platform that can be leveraged for tech investments with positive network effects.
Growing the Team
Over the past few months, 20VC has been growing its team so that it can deploy the capital it has raised. In addition to Kieran Hill, who joined as a seed partner back in 2021, two other individuals — Paul Bonnet (general partner) and Alexandre Dewez (partner) — respectively left DST Global and Eurazeo earlier this year to focus on Series A and later investments for 20VC.
Julien Codorniou is the latest addition to the team. He’s going to be 20VC’s third general partner, focusing on seed investments. This will be a change of pace for him, as Felix Capital usually leads funding rounds at a later stage.
A New Challenge
As part of Felix Capital, Codorniou participated in funding rounds in Pigment, Omada, TechWolf, and Prediko and Agave — a gaming company whose Series A was announced only yesterday. He will keep his board seats and remains a limited partner in Felix Capital. He has also been a business angel, investing his own money in Bloom & Wild, X, and many others.
A Strong Track Record
Codorniou’s experience in venture capital and as a business angel makes him an excellent addition to the 20VC team. His track record of successful investments and his ability to identify promising startups will undoubtedly be beneficial to 20VC’s future endeavors.
The Future of 20VC
With Codorniou on board, 20VC is poised to continue its growth and success in the venture capital industry. The addition of a new general partner will bring fresh perspectives and expertise to the team, allowing them to make more informed investment decisions and further establish themselves as a leading player in the industry.
About Julien Codorniou
Julien Codorniou is an experienced venture capitalist with a strong track record of successful investments. As a founding advisor at Felix Capital, he has participated in numerous funding rounds and has a deep understanding of the startup ecosystem. As a business angel, he has invested his own money in several startups, demonstrating his confidence in their potential for growth.