A New Fund Won a Hot Startup by Having 30 Founders Message Its Creator at Once
The new firm had no track record and had not even closed its fund, so it sent its network of backers instead.
Scaling-Europe · Matt Miller: Founding Partner of Evantic Capital in his FIRST interview since leaving Sequoia!Anton Osika, the founder of the fast growing startup Lovable, was hearing about the same new investor everywhere he went. He got emails about it, he heard about it at conferences, and at a founders event people kept approaching him to make the same pitch.
The messages came from about 30 well known founders, executives, and investors. Each one said he should take money from Matt Miller, the founding partner of a brand new venture firm called Evantic Capital, and each one said they were part of the new firm too.
That coordinated outreach is a central part of how Evantic works. Miller said he has partnered with a community of 150 founders, builders, and investors, called legends, who put their own money into his fund, invest alongside it in individual startups, and share in its profits when they help find, win, and support companies.
Lovable was the first investment Evantic made, and the firm was brand new. Miller said Evantic had not even closed its fund yet, and he personally lent money to the fund so it could invest. That left him with little to offer except the legends, at a time when, as he put it, the whole world was chasing Osika.
That outreach "got his attention in a way that was different," Miller said. The interviewer added another example of the effect, saying he had spoken to Victor, who described how powerful it felt for a founder to get notes from about two dozen prominent people in tech all recommending the same investor.
Miller, who previously worked as an investor at Sequoia, said the difference is that the legends are treated as business partners. When they write to a founder, he said, they explain why they invested in Evantic themselves, why they are excited about the startup, and how they could help build it, and he thinks that hits a little differently.
After Evantic invested in Lovable, the introductions turned into practical help. Miller said one of the legends, Tom Wilkey, who works at the software company Grafana, spends time coaching Lovable's engineering team and giving advice and feedback.
Questions people ask
What does Lovable actually do?
Lovable is a Swedish startup that lets people build software and websites by describing what they want in plain language, rather than writing code. Its tool is part of a wave of generative AI products for so-called vibe coding. It grew unusually fast in 2025 and became one of Europe's most closely watched AI startups.
Who is Matt Miller?
Miller is an American venture capitalist who spent more than a decade at Sequoia, one of Silicon Valley's best known investment firms, where he helped lead its expansion in Europe. He left Sequoia to start Evantic Capital, headquartered in London. Evantic is designed to invest on both sides of the Atlantic.
How do the legends get paid?
In venture capital, managers typically earn a share of investment profits called carried interest, usually around 20 percent. Miller says his legends can collectively earn up to half of Evantic's carried interest when they help find, win, and support deals. They also put in their own money and can invest alongside the fund in individual startups.