We’re thrilled to announce that Gloria Bäuerlein, a luminary in European venture capital and angel investing, will be a special guest at the Evangelistas’ inaugural European Super Angel Program. As the founding partner of Puzzle Ventures, Gloria brings profound impact and expertise to our program. Her extensive background — ranging from being the COO of Back to leading at Europe’s largest telemedicine provider KRY, and investing with Index Ventures and TCV — offers a deep understanding of both startup operations and investment dynamics.
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Gloria’s notable investments in high-potential startups such as Pigment, Procuros, and Omnea, along with latest Puzzle portfolio companies including Reonic, Gradient Labs and Rillet, underscore her talent for identifying and nurturing transformative opportunities. Beyond providing capital, Gloria is renowned for her hands-on approach, offering strategic guidance and connecting founders with essential resources and networks.
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Her global experience, spanning Europe and the U.S., adds valuable international perspective to our program, enhancing the learning experience for all participants. Gloria’s blend of innovation, experience, and dedication makes her an ideal mentor for the next generation of angel investors and a key player in shaping the future of venture capital. Together, we aim to elevate women founders and senior operators in angel investing.
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Insights from Gloria’s Journey
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To give you a glimpse of what to expect from Gloria’s involvement, here’s a sneak peek into her journey and approach:
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Julia (Interviewer): Last year, you launched Puzzle Ventures, a significant milestone as one of Europe’s first female solo GP funds. Can you tell us about your strategy and value proposition?
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Gloria: At Puzzle Ventures, we support founders as if we’re part of their team, offering hands-on help that goes beyond traditional investing. We focus on delivering the highest value per euro invested, typically invest between €200k and €700k in pre-seed and seed rounds, and strive to connect founders with early customers, top talent, and global investors.

Julia: Can you elaborate on your investment themes?

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Gloria: We focus on companies that form the backbone of other companies’ operations. Some of our portfolio companies build the infrastructure for the AI-native world, others help traditional industries digitize their manual processes or automate backoffice workflows. These themes reflect my belief in the transformative potential of technology and my commitment to supporting critical innovations.

Julia: What’s your superpower as an investor?
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Gloria: My superpower is my extensive global network and the compassion I have from having been on all sides of the table. With experience as an operator, VC, and angel, I understand various perspectives and leverage my global network to connect founders with the right people, be it investors, hires or customers.

Julia: How do you support founders?
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Gloria: I act as a sparring partner, helping with acing investor conversations, finding key hires, and solving operational challenges. I aim to be the first port of call, regardless of whether it’s positive news or challenges that the teams need help with. 

Julia: How can being “small” as an investor be a strength?
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Gloria: Being small allows me to stay focused and agile. My reputation is incredibly important and every single investment matters a lot to me.

Julia: What have you learned from your anti-portfolio?
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Gloria: I’ve learned to take more risks and trust my instincts, especially at early stages. You can always find dozens of reasons not to invest but it’s crucial to find one or two reasons why the company and the founders are unique.

Julia: What advice would you give new angel investors?
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Gloria: Surround yourself with trusted co-investors and find your unique expertise to add value. This helps you stand out and make a meaningful impact.

Julia: What’s the best advice you’ve received in the startup world?
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Gloria: Focus on what can go right, not what can go wrong.

Julia: What makes a great angel investor?
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Gloria: Stick to your strengths and don’t try to imitate others. What works for them, will likely not work for you. Try to focus on a clear investment thesis and make it clear to other co-investors when they should think of you.

Julia: Why are you excited about this program?
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Gloria: When I started angel investing in 2018, there were very few female B2B angel investors in Europe. I am excited to see more and more women gain the confidence to start angel investing and support tomorrow’s leaders, especially in deep tech. 

Looking Ahead

Gloria Bäuerlein’s insights and innovative approach are a breath of fresh air in the venture capital world. Through Puzzle Ventures, she’s setting new standards for angel investing and making a significant impact. Don’t miss the chance to be part of this groundbreaking program and learn from one of the industry’s most influential figures. Join us to unlock the future of venture capital!

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