Observed Signal · Nov 3, 2026 · Educational Content · Source: Gründerszene (DACH Startups & Scaleups) · Impact: 1/5 · Sentiment: Positive
How to Become a Scout for Top VC Funds
The article explains the role of venture capital 'scouts' – external early-stage investors who identify promising startups for major US funds like Andreessen Horowitz and Sequoia. It details how scouts operate, using their networks to source deals, invest small amounts (typically $10,000-$50,000) from a dedicated scout fund, and earn a 20% carry on profits. The piece features interviews with two German scouts: Robert Richarz (scout for Andreessen Horowitz) and Alexander Worbs (scout for a large US fund, also Chief of Staff at Munich-based Tacto). Key insights include that scouts are typically approached by VCs rather than applying, and that the role is now open to younger operators. The article also advises founders on what to expect from scout investments, emphasizing that scout deals are not direct fund investments and may not guarantee future funding from the VC firm.
The article provides educational insights into venture capital scout programs, relevant to the broader startup ecosystem but not directly impacting AdTech or MarTech.
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Key Takeaways & Evidence Grounding
- Robert Richarz is a scout for Andreessen Horowitz; Alexander Worbs is a scout for a large US fund and Chief of Staff at Munich-based startup Tacto.
- Scout programs originated with Sequoia in 2009; Andreessen Horowitz and others later adopted similar programs.
- Scout investments typically range from $10,000 to $50,000 per deal, funded from a dedicated scout fund.
- Scouts receive a 20% carry on profits from startup exits, but no ongoing management fee.
- Scouts are not employees of the VC firm; they operate as external, independent investors.
Connected Companies & Entities
1 Entity mapped“Robert Richarz is a scout for Andreessen Horowitz, mentioned as one of the top US VCs.”
Ontology Mapping & Concepts
Related Market Signals & Shifts
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When and When Not to Raise VC
This a16z Speedrun newsletter explains when venture capital is — and isn’t — the right choice for founders. It cites investors who warn that VC is appropriate only for businesses that require rapid scaling and have clear exit potential, using metaphors (e.g., "jet fuel" and "power tool") to show VC’s risks. The piece contrasts that model with successful bootstrapped examples (Mailchimp) and recent companies (Midjourney) that turned down outside capital, and notes technological and economic changes that make self-funding more feasible today. It closes by inviting qualified founders to apply to the a16z Speedrun SR008 early acceptance window.
German VCs demand €15B annual funding boost
The German Venture and Growth Forum (GVGF), representing over 20 leading venture capital firms with €28 billion in assets, called for mobilizing approximately €15 billion in additional private capital annually to finance German tech startups. The call comes at the Invest in Germany Summit, the federal government's first investor conference. GVGF highlights that only a third of the €5.1 billion invested in German startups in H1 2026 came from domestic investors, while US investors have matched European investment in large rounds. The Forum urges German pension funds, insurers, and foundations to increase their venture capital allocation from 0.1% to 2% of their €2.8 trillion assets under management. It warns of economic and technological sovereignty risks due to reliance on foreign capital.
Project A's Heinemann: European VCs are suppliers to top US investors
In the 'Royal GS' podcast, Project A founding partner Florian Heinemann discussed European early-stage VC strategy. Project A, a Berlin-based early-stage investor, focuses on pre-seed and seed rounds, sometimes Series A, with a €325 million fund. Heinemann emphasized that European early-stage VCs act as 'suppliers' for top US investors, preparing startups for later US-led funding rounds. He advised founders to limit dilution to 20% per round and to maintain market-standard valuations. He cited Trade Republic as a success, noting Project A's ~9% stake cashed out during a secondary round at a €12 billion valuation. He criticized overvalued rounds by late-stage startups like ElevenLabs and Lovable, questioning the defensibility of such high valuations and noting that such rounds often facilitate secondaries for early investors.
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