Welcome to a new episode of the EUVC Podcast, where we bring you the people and perspectives shaping European venture.

This week, Andreas Munk Holm is joined by Sarah Drinkwater, Founding Partner at Common Magic, and Anthony Danon, Founder at Rerail, for a deep dive into the rise of solo GPs and micro funds in Europe. Together, they unpack the forces driving this new wave of intentional, nimble VC—why it’s working, how it's evolving, and what it takes to win.

It’s a conversation that builds on their stage debate at the EUVC Summit—this time going deeper into headless rounds, syndication dynamics, the next generation of angel investors, and the very real personal decisions behind going solo.

🎯 This Episode’s Themes:

Why the solo GP model fits today’s best founders
The rise of “headless rounds” and what makes them work
The art (and risk) of conviction without consensus
The future of angels, from weekend warriors to fund managers
What’s next for micro funds in Europe—and why some won’t make it

Here’s what’s covered:

00:22 | Solo Love: The magic of being founder-picked and founder-aligned
01:30 | Angel Roots: Why Sarah and Anthony bet small before going big
04:00 | Market Dynamics: The squeeze between seed giants and multistage platforms
06:30 | Why Small Wins: Flexibility, focus, and belief in outlier founders
09:00 | Micro Syndication: Why solo GPs are finally co-leading in Europe
13:00 | The Reserve Question: What happens when founders need more capital?
16:00 | Conviction Building: The difference between borrowing belief and earning it
20:00 | Headless Rounds: The founder-led raise and its pros and cons
24:30 | Next Round Realities: Why leads don’t always do the heavy lifting
27:00 | Angel Competition: How to win without bidding wars
31:00 | Angel Education: Power law, concentration risk & the need for fresh blood
38:00 | Going Solo: The case for building your own lemonade stand
44:00 | The Big Firm Tradeoff: Coordination, politics, and the limits of scale
47:00 | Looking Ahead: What’s next for Europe’s micro fund wave

VC | E523 | Why Solo GPs Are Europe’s Secret Weapon

EUVC

VC | E523 | Why Solo GPs Are Europe’s Secret Weapon