E523 | Sarah Drinkwater (Common Magic) & Anthony Danon (Rerail): Why Solo GPs Are Europe’s Secret Weapon

Welcome to a new episode of the EUVC Podcast, where we bring you the people and perspectives shaping European venture.This week, is joined by , Founding Partner at , and , Founder at , 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 foundersThe rise of “headless rounds” and what makes them workThe art (and risk) of conviction without consensusThe future of angels, from weekend warriors to fund managersWhat’s next for micro funds in Europe—and why some won’t make itHere’s what’s covered:00:22 | Solo Love: The magic of being founder-picked and founder-aligned01:30 | Angel Roots: Why Sarah and Anthony bet small before going big04:00 | Market Dynamics: The squeeze between seed giants and multistage platforms06:30 | Why Small Wins: Flexibility, focus, and belief in outlier founders09:00 | Micro Syndication: Why solo GPs are finally co-leading in Europe13:00 | The Reserve Question: What happens when founders need more capital?16:00 | Conviction Building: The difference between borrowing belief and earning it20:00 | Headless Rounds: The founder-led raise and its pros and cons24:30 | Next Round Realities: Why leads don’t always do the heavy lifting27:00 | Angel Competition: How to win without bidding wars31:00 | Angel Education: Power law, concentration risk & the need for fresh blood38:00 | Going Solo: The case for building your own lemonade stand44:00 | The Big Firm Tradeoff: Coordination, politics, and the limits of scale47:00 | Looking Ahead: What’s next for Europe’s micro fund wave