Antoine Nussenbaum

Who they are

Antoine Nussenbaum is Partner and Co-Founder of Felix Capital — started his career as an M&A banker at ABN AMRO before founding NT Valley, a verticalized software company for kindergarten and nursery management.

Person

Antoine joined Felix Capital in 2014 when it was a small team at the earliest stage, and has been building it ever since. Before that, he was an M&A investment banker at ABN AMRO, then VP Corporate Development at Atlas Global, and at some point ran Voy and had a role at Olapic — a path that moved from deal-making into operating roles before landing in venture. Along the way he co-founded NT Valley, a verticalized software play for kindergarten and nursery management, which shows he wasn't just watching founders build — he tried it himself. He teaches Venture Capital as a visiting professor at both ESCP European Business School and University Paris Dauphine, and has spoken at Slush and Shoptalk Europe. He writes for TechCrunch on venture capital, digital lifestyle, and consumer/tech investing, and publishes on Medium under his own handle. The through-line is someone who has been on both sides of the table — banker, operator, founder, investor — with a consistent pull toward consumer brands and lifestyle businesses.

Company

Felix Capital's most recent disclosed portfolio activity is its co-investment in Noah's $22 million seed round in June 2025, and the firm backed Origin in a $21 million Series A as it emerged from stealth. Felix is a London-based venture capital firm managing over $1.2 billion in assets across approximately 50 portfolio companies, with a focus on technology and creativity-driven businesses in the digital lifestyle sector. Board seats span businesses including TravelPerk (now Perk), Papier, Unmind, Hungry Panda, Ukio, Lick, Manual, and Pure Pet Food — a portfolio that clusters around consumer brands, wellness, and work. Portfolio company TravelPerk recently strengthened its leadership team, appointing Nikita Miller as Chief Product Officer and promoting Robin Smith to Chief Technology Officer.

Market

Felix Capital operates in European early-stage venture, backing consumer-facing and digital lifestyle companies at a time when that segment has become more competitive as US funds have increased their European presence. The firm's concentration in brands, wellness, and work-adjacent software puts it alongside generalist European funds and specialist consumer-focused vehicles. Geopolitical and regulatory complexity is adding friction to cross-border deal-making and portfolio management, a dynamic that affects any London-based fund active across European and global markets.

Network

Antoine's network runs through his portfolio boards — TravelPerk, Papier, Unmind, Hungry Panda, Ukio, Lick, Manual, and Pure Pet Food — where he sits as a board member at each. He has a visible connection to Alex Hersham, the Zencargo founder and Termeer Fellow, suggesting engagement beyond the immediate Felix portfolio into the broader London founder community.

Alex Hersham· Founder, Zencargo; Termeer Fellow
Nikita Miller· Chief Product Officer, TravelPerk
Robin Smith· Chief Technology Officer, TravelPerk

How they likely show up

Long tenure at Felix Capital since 2014 (over a decade) → thinks in fund cycles and portfolio arcs, not short-term deal flow.
Co-founded NT Valley (a software company for nurseries) before becoming a full-time VC → has firsthand founder experience and likely approaches board work with more operational empathy than a career-only investor.
Board seats across 8+ companies simultaneously (TravelPerk, Papier, Unmind, Hungry Panda, Ukio, Lick, Manual, Pure Pet Food) → operates with high context-switching across sectors; values clarity and brevity in meetings.
Teaches VC at ESCP and Paris Dauphine as a visiting professor → comfortable structuring and defending frameworks, not just making intuitive calls.
Writes for TechCrunch and Medium on venture themes → processes thinking publicly and is comfortable staking out positions in writing.
Came up through M&A banking at ABN AMRO before moving into corporate development and then venture → likely rigorous on deal structure and financial framing, not just narrative.

Conversation tips

→ Reference a specific portfolio company he's on the board of — he'll engage more if you've done the work to understand what those businesses actually do.
→ He teaches VC — if you want to discuss investment frameworks or market theses, he'll have a structured view; ask for it directly rather than waiting for him to volunteer it.
→ He posts occasionally on LinkedIn about mental health and leadership, and has been publicly involved with rare disease research — he cares about what's behind the professional surface, so don't keep the conversation purely transactional.
→ He writes on TechCrunch; if you've read a piece, name it — generic flattery won't land but a specific reference will.

Toolbox

Openers

Open on NT Valley — before Felix Capital he built a verticalized software company for kindergarten and nursery management, an unusually specific operator bet that most VCs skip over in his bio.
Lead with the Noah $22M seed co-investment in June 2025 — it's the most recent disclosed Felix Capital deal and a signal of where the firm is placing bets right now.
Mention his visiting professor roles at ESCP and Paris Dauphine — teaching VC while running a $1.2B fund is a deliberate choice, and it opens a real conversation about how he thinks the craft should be taught.

Discovery questions

You've built Felix Capital's portfolio around digital lifestyle and consumer brands — how has that thesis held up as the macro environment has made consumer bets harder to exit?
You co-founded NT Valley before going full-time into venture — how does having actually built a company change how you engage with founders at the board level?
You teach VC at ESCP and Paris Dauphine — what do most students fundamentally misunderstand about how early-stage investment decisions actually get made?

Avoid

Don't pitch or discuss companies in cross-border payments, procurement platforms, or AI workflow tools — those are same-name company contexts entirely unrelated to Felix Capital's portfolio and will signal you haven't done basic homework.

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