The Next Five The Next Generation of European Tech Funding: Scale-Ups
Nov 21, 2025
Tommaso Fassati, Head of Wealth Management Italy at BNP Paribas, on institutional capital flows and pension/family office roles. Hilary Gosher, Managing Director at Insight Partners, on venture/growth funding and AI investment dynamics. Luca Ferrari, CEO of Bending Spoons, on acquisition-driven growth and European scale-up financing. They discuss late-stage capital sources, Europe vs US funding gaps, policy and talent challenges.
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Perception Of Regulation Deters Large Global Investment
- Europe is less appealing to some global entrepreneurs due to perceived heavy regulation, bureaucracy and cultural weariness of capitalism.
- Luca Ferrari argued this perception, not capital scarcity, explains lower big-ticket investments into European companies.
Deregulate And Harmonize To Attract Investment
- Reduce regulatory friction and harmonize markets to attract talent and capital quickly.
- Luca Ferrari urged aggressive deregulation, more uniform rules and a more centralized single market to make Europe a preferred hub.
Make Stock Options Portable And Tax Efficient
- Improve employee upside and labour mobility through fair cross-border stock-option tax regimes.
- Hilary Gosher said onerous taxation of VSOPs and lack of portability discourage talent joining startups, unlike tax-favourable US frameworks.