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SuperNova handpicks Europe’s 50 hottest scale-ups with a 100% VC curated line-up

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SuperNova handpicks Europe’s 50 hottest scale-ups with a 100% VC curated line-up

Antwerp– Belgium-based tech festival SuperNova presents a remarkable ‘for VCs by VCs’ scale-up pitching track. As one of the organizers of SuperNova, Scale-Ups.eu – an ecosystem focused on accelerating the growth of European scale-ups – is curating this two-day “Best of Europe” deep pocket investor program, working exclusively with its internationally-recognized VC partners.

SuperNova positions its investor program as one of the most relevant later-stage investor events with a well-curated line-up of 50 pitching high-potential scale-ups from all over Europe. SuperNova aims to welcome 150+ international later-stage investors at its exclusive investor pitching track.

SuperNova has the ambition of becoming the most relevant growth venturing event in Europe. European scale-ups platform Scale-Ups.eu assessed hundreds of companies along with its partner VCs such as powerhouse Jerusalem Venture Partners, global VC Runa Capital, and European key players such as Idinvest, Fortino, Prime, HPE Growth, Columbia Lake, SmartfinCapital and Volta. In addition, SuperNova works closely with imec, Europe’s biggest and a world-leading R&D hub in nanoelectronics and digital technologies, to reach out to its wide tech network across Europe and its Russian counterpart, the Skolkovo Foundation, Russia’s leading innovation center.

“We have been working hard behind the scenes with our partner VCs to nominate a solid line-up of 50 high-growth ‘hidden gems’ from all across Europe. SuperNova’s investor track has become a powerful pan-European VC collaboration, with Scale-Ups.eu facilitating the collaboration among our partners VCs to nominate only the best of the best, top-tier companies. This way, we enable such a true deal flow catalyst.” says Bruno Vandegehuchte, Lead of SuperNova Investor Pitching Track from Scale-Ups.eu.

“The goal of SuperNova Investor Pitching program is to match international funding with successful European scale-ups that are ready to grow further. By bringing together growth-stage scale-ups and VCs & investors at SuperNova for two days, Scale-Ups.eu succeeds in squeezingtime and enabling growth for the key players in our ecosystem.” concludes Jurgen Ingels, founder of Scale-Ups.eu.

All companies selected have an annual recurring revenue of at least 3 million euros and an average annualized growth in employees or turnover that is far above 50%. Each growth company will have 10 minutes to pitch its solutions, results and ambitions. They will be represented by two senior profiles to have in-depth meetings with 150+ international ‘big fish’ later stage VCs such as 8 Roads, Accel, Columbia Lake Partners, Dawn, Fortino, Idinvest, Inven, Jerusalem Venture Partners, Microsoft Ventures, Partech, Prime, Runa Capital, Skolkovo Ventures, Sofina, Summit, Vitruvian, Volta, Xpand, and many more.

During the breaks, investors can invite scale-ups to 1-on-1 meetings to gain a deeper understanding of the investment opportunities. All investors will also receive a brochure containing company information and contact information to all pitching companies. SuperNova guarantees relevant introductions and offers all scale-ups and investors access to the conference track with leading insights from experts such as Ray Kurzweil, one of the world’s leading inventors and futurists, Seth Godin, global best-selling author and the founders of Shazam and Twitter, to name a few.

 Unique scale-ups selection approach: for VCs by VCs

The 50 ’best of the best’ European growth companies are handpicked by the organizer Scale-Ups.eu and their internationally-recognized VC fund partners.

SuperNova’s selecting VCs include:

  • Columbia Lake Partners is an experienced team of investors providing growth loans to European technology companies. In prior roles, it has extended credit and managed portfolio relationships of greater than £300 million to over 100 companies such as Showpad, Falcon.io, BrightPearl and Ampliance.
  • Fortino Capital invests in digital and applied technology in the Benelux. Fortino Capital is a key player in Europe with high growth successes such as Aproplan, Piesync, Bloomon, Teamleader and TrendMiner. Fortino co-curates the Benelux companies for SuperNova.
  • HPE Growth Capital (“HPE”) is focused on growth capital investments in technology companies throughout Northern Europe, with an emphasis on Germany, the Netherlands and Belgium. HPE’s portfolio companies have grown at an average of 45% annually and since its investments, more than 800 new jobs have been created within its portfolio companies. HPE co-curates the North European companies for SuperNova.
  • Idinvest Partners is a pan-European private equity manager focused on the low and middle market segments. With over six billion euros under management, the company has expertise in equity investments in buyout deals, as well as primary and secondary investments accross Europe. Portfolio includes: Clear2Pay, BlaBlaCar, Meetic, Deezer and many more. Paris based Idinvest co-curates the French companies for SuperNova.
  • JVP is Israel’s leading $ 1.2 billion fund, ranked several times by Preqin as one of ten of the world’s most consistent performing VC companies.
  • Prime Ventures is a leading venture capital and growth equity firm focused on investing in European companies in the technology and related industries. Prime invested in more than 50 companies since it started its operations in 1999 such as ZipDial, Falcon.io, Almotive, DealersDirect, TakeAway.com, Tripaneer a.o. Prime co-curates scale-ups from Netherlands for SuperNova.
  • Runa Capital is a technology-focused venture capital firm whose investments have created or incubated companies with more than $10B in assets. Runa invests in software applications and infrastructure for the new economy. From Acumatica to Nginx to Zopa, Runa invested in over 60 companies in 12 different countries. Runa co-curates the scale-ups from Eastern Europe for SuperNova.
  • SmartFin Capitalis a lean independent private equity fund targeting smart technologies with a special focus on Financial Technologies. SmartFin Capital has invested in MariaDB, Silverfin and Materialise (NASDAQ: MTLS), among many others… Smartfin co-curates the Benelux companies for SuperNova.
  • Volta Ventures is a venture capital firm that offers seed & early stage VC for internet & software companies in the Benelux. Volta co-curates the Benelux companies for SuperNova.

SuperNova also has the full support of Belgian Venture Capital Association (BVA) to warmly welcome international guest investors.

“JVP is proud to partner with SuperNova. SuperNova bridges all key players from the European tech scene with lots of exciting companies and key VCs. We are convinced that the delegation of Israeli tech scale-ups that will attend SuperNova will strengthen the business relationship of our regions. We’re looking forward.”says Uri Adoni, JVP Venture Partner.

Early bird investor passes are available until June 30.

https://www.ticketmaster.be/event/27993?language=en-us

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Sterling rises above $1.37 for first time since 2018; UK inflation rises

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Sterling rises above $1.37 for first time since 2018; UK inflation rises 1

By Elizabeth Howcroft

LONDON (Reuters) – A combination of heightened risk appetite in global markets and UK-specific optimism lifted the pound on Wednesday, as it strengthened to its highest in nearly three years against the dollar and five-month highs against the euro.

The dollar weakened against major currencies for the third straight session, helped by U.S. Treasury Secretary nominee Janet Yellen’s urging lawmakers to “act big” on spending and worry about debt later.

The pound rose above $1.37, hitting $1.3720 — its highest since May 2018 — at 1045 GMT. By 1136 GMT it had eased some gains and changed hands at $1.3687, up 0.4% on the day and up 0.2% so far this year.

Versus the euro, the pound hit a five-month high of 88.38 pence per euro, before easing to 88.51 at 1137 GMT, up around 0.5% on the day.

The pound’s recent strengthening can be attributed in part to relief among investors that the impact of Brexit has not caused the chaos some feared, as well as a lessening of negative rates expectations, said Neil Jones, head of FX sales at Mizuho.

“Going into early 2021, there was a bearish sentiment building into the pound on the Brexit deal, in terms of maybe it had a limited reach, and then secondly an expectation of negative rates and so to some extent the market has been cutting down on sterling shorts because neither of those things have been quite so apparent as they were,” he said.

Bank of England Governor Andrew Bailey said last week that there were “lots of issues” with cutting interest rates below zero – a comment which caused sterling to jump.

The UK’s progress in rolling out vaccines is also seen as a positive for investors, Jones said.

Currently, the United Kingdom has vaccinated 4.27 million people with a first dose of the vaccine, among the best in the world per head of population.

“Further progress in vaccinations (a pick-up in the daily rate) by the time the BoE MPC meeting takes place on 4th February may prove enough to hold off on any additional monetary easing,” wrote Derek Halpenny, head of research for global markets at MUFG.

Inflation data for December showed that prices in the UK picked up by more than expected in December, to a 0.6% annual rate.0.6

Inflation has been below the Bank of England’s 2% target since mid-2019 and the COVID-19 pandemic pushed it close to zero as the economy tanked.

(Graphic: CFTC: https://fingfx.thomsonreuters.com/gfx/mkt/oakpeyayxpr/CFTC.png)

(Reporting by Elizabeth Howcroft, editing by Larry King)

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Euro sinks amid broader risk rally against dollar

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Euro sinks amid broader risk rally against dollar 2

By Ritvik Carvalho

LONDON (Reuters) – The euro struggled to join a broader risk rally against the dollar on Wednesday as analysts said the risk of extended lockdowns in Europe to combat the spread of COVID-19 and the continent’s lag in a vaccine rollout were weighing on the currency.

Down 0.1% against the dollar at $1.2117 by 1130 GMT, Europe’s shared currency had only the safe-haven Swiss franc and Sweden’s crown for company in resisting a broad rally against the greenback by the G-10 group of currencies.

“We’re getting more headlines that the current lockdowns will be extended further, which could mean that the euro zone would be flirting with a double-dip recession before long,” said Valentin Marinov, head of G10 FX research at Credit Agricole, noting Europe’s lag in rolling out a coronavirus vaccine compared to the United States and Britain.

“So all of that plays into the story that tomorrow’s ECB meeting, while uneventful in terms of policy announcements, could convey a relatively dovish message to the market. On top of that, President Lagarde could once again jawbone the euro, so the euro is kind of lagging behind.”

Marinov also noted price action in the pound, which hit $1.3720 – a 2-1/2-year high – and 88.38 pence – its highest since May 2020 against the euro – as a contributing factor to euro weakness. [GBP/]

There was also focus on a story by Bloomberg News, which reported the European Central Bank was conducting its bond purchases with specific yield spreads in mind, a strategy that would be reminiscent of yield curve control.

Elsewhere, the risk-sensitive Australian dollar gained 0.4% to $0.7727. The New Zealand dollar, also a commodity currency like the Aussie, gained 0.25% to $0.7133.

DOLLAR WEAKNESS

While the world will be watching Joe Biden’s inauguration as U.S. president at noon in Washington (1700 GMT), traders were more focused on his policies than the ceremony.

U.S. Treasury Secretary nominee Janet Yellen urged lawmakers at her confirmation hearing to “act big” on stimulus spending and said she believes in market-determined exchange rates, without expressing a view on the dollar’s direction.

The index that measures the dollar’s strength against a basket of peers was up almost 0.1% at 90.510. The euro forms nearly 60% of the dollar index by weight.

It also fell 0.1% against the Japanese yen to 103.81 yen per dollar.

While the dollar has perked up in recent weeks on the back of a rise in U.S. Treasury yields, investors still expect the currency to weaken.

“We remain bearish U.S. dollar, and expect the downtrend to resume as U.S. real yields top out,” said Ebrahim Rahbari, FX strategist at CitiFX.

“Continued Fed dovishness remains important for our view, in addition to global recovery, so we’ll watch upcoming Fed-speak closely.”

Positioning data shows investors are overwhelmingly short dollars as they figure that budget and current account deficits will weigh on the greenback.

(Graphic: Dollar positioning: https://fingfx.thomsonreuters.com/gfx/mkt/oakveyombvr/Pasted%20image%201611132945366.png)

UBS Global Wealth Management’s chief investment officer Mark Haefele reiterated a bearish view on the dollar, saying that pro-cyclical currencies such as the euro, commodity-producer currencies, and the pound would benefit “from a broadening economic recovery supported by vaccine rollouts”.

The cryptocurrency Bitcoin fell 4%, trading at $34,468.

(Reporting by Ritvik Carvalho; Editing by Angus MacSwan)

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England soccer star Rashford nets younger buyers for Burberry

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England soccer star Rashford nets younger buyers for Burberry 3

By Sarah Young

LONDON (Reuters) – Burberry stuck to its full-year goals on Wednesday after a media campaign fronted by high-profile English soccer star and social justice advocate Marcus Rashford drew a younger clientele to the British luxury brand.

Higher full-price sales would boost annual margins and Asian demand remained strong, Burberry said, while warning that it could suffer more sales disruption from COVID-19 lockdowns.

Manchester United striker Rashford, 23, has won plaudits for his campaign to help ensure that poorer children do not go hungry with schools closed during the pandemic.

A first coronavirus wave last year cut Burberry’s sales by as much as 45% before a bounce back on strong demand in mainland China and South Korea, which continued in the last few months.

Shares in Burberry were up 5% to 1,825 pence at 0905 GMT, with Citi analysts saying that improved sales quality from fewer markdowns would drive full-year consensus upgrades.

Burberry’s 9% sales decline in its third quarter was worse than the 6% fall in the second, and the company said that 15% of stores were currently closed and 36% operating with restrictions as a result of measures to curb COVID-19’s spread.

“We expect trading will remain susceptible to regional disruptions as we close the financial year,” Burberry said, adding that it was confident of rebounding when the pandemic eases given the brand’s resonance with customers.

In the third quarter, comparable store sales in Europe, the Middle East, India and Africa declined 37%, hit by shops shut in lockdowns and a lack of tourists visiting Europe, but in the same period, it posted sales growth of 11% in Asia Pacific.

Burberry said that Britain’s new relationship with the European Union would cause headwinds, warning of a modest increase in costs to comply with new rules and also the impact of an end to a scheme for VAT refunds for non-EU tourists.

This would make Britain a less attractive destination for luxury shopping when tourism returns after the pandemic, Burberry said, adding that it would try to mitigate the effect.

(Reporting by Sarah Young; Editing by Kate Holton, James Davey and Alexander Smith)

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