E630 | Alexey Plesakov and Alexander Lis, Social Discovery Ventures (SDV): Betting Across Borders & Global Play on European VC

Welcome back to another episode of the EUVC Podcast, where we bring you the people and perspectives shaping European venture.Today, we’re joined by Alexey Plesakov and Alexander Lis from Social Discovery Ventures (SDV) — a quietly influential, globally active investment firm deploying capital across the US and Europe. Born out of the bootstrapped success of Social Discovery Group (the company behind Dating.com), SDV invests in both funds and directs, with a venture allocation far above the family office norm.We dive into their origin story, why they’re leaning into Europe now, their approach to fund vs. direct investments, and how they think about the future of VC in a more uncertain macro climate.🎯 This Episode’s Themes:From bootstrapped dating giant to global LP & VC playerWhy diversification isn’t just about having “more investments”How they balance US vs. European VC allocationsThe case for emerging managers — and the collaboration edge they offerWhere they see the biggest bets in European tech over the next decadeWhy they’re playing more conservatively in 2025 — without stopping deal flowLessons from building lean — and the “Five Whys” test for cutting through hype🎧 Here’s what’s covered:00:24 | Welcome & Origin Story: From Dating.com to a global investment portfolio01:24 | Bootstrapping a Unicorn: How Social Discovery Group scaled without outside capital04:38 | The Myth of Diversification: Quality over quantity in portfolio construction06:19 | Why 30%+ of Their Assets Are in Venture Capital08:44 | Leveraging Network Effects: How their IT roots give them an edge in sourcing deals09:31 | VC Fund Portfolio: From NEA & Khosla to emerging managers like Davydov & Black River14:26 | US vs. Europe: Why their overall portfolio skews 70% US but VC is more balanced15:55 | Emerging Managers vs. Big Names: Risk, return, and picking the right early funds19:41 | Big Picture Bets: Tariffs, decoupling, and a possible US–Europe tech split22:31 | Direct Investment Focus: Fintech, PSD3, and voice-first neobanking25:07 | Macro vs. Micro: Combining top-down analysis with bottom-up deal work27:05 | Playing Defense in 2025: Why they’re slowing deployment without stopping pipeline building30:23 | European VC Arbitrage: Lower valuations — until growth takes off34:23 | Bootstrapping Lessons: Discipline, burn control, and ROI-driven decisions35:25 | The “Five Whys” Test: Cutting through hype to find fundamentally sound investments