also closed new funds, suggesting capital remains available to growing tech startups even as a pandemic-induced recession bites.
Asked how the pandemic was influencing the firm's thinking, she said: "It's definitely accelerating trends. Part of the job of a VC is to try and predict what technology does to society. We have this thesis of what will happen, and part of it is timing, like you'll think something will happen in the next few years ... What we've seen with COVID-19 is that some of those times are really being brought forward.
"They grew 100% in April," said Teli. "We're going to get to see whether these were permanent shifts in behavior, or whether they were temporary shifts and people actually want to go back to the gym." She added that Connect is pretty select about where it allocates its funding, with partners only doing two to three deals per year. "The core strategy is ... build the portfolio of 25 to 30 companies where we think those founders have a real shot at building a really compelling product-centric business starting in Europe."
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