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AI and Defense: How the Goldman Sachs investor views the hyped industries

AI and Defense: How the Goldman Sachs investor views the hyped industries

Christian Resch is Head of EMEA Growth Equity at Goldman Sachs Asset Management.
Goldman Sachs/ Collage: GS

There's a certain dynamism in the market. Not that venture capital is ever particularly boring, but many are currently in a hurry to get into good deals – especially in two areas: AI and defense.

Christian Resch heads Goldman Sachs' Growth Equity business in Europe. The US bank has its own VC vehicle, the Global Growth Equity Fund. A substantial one at that: $5.2 billion under management.

The venture capitalist invests through tickets starting at 10, but typically between $30 and $250 million per deal. The target is growth companies with several hundred million in revenue, pre-IPO, and late-stage.

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The core themes for Goldman Sachs investors so far have been fintech, health tech, applied software, and cybersecurity. The fund has already made seven investments this year, including some in generative AI and defense tech. "It's been a good year so far from an investment perspective," says Resch, whom we interviewed on the sidelines of Goldman Sachs' Disrupted Tech Symposium in Munich.

Of course, the investor admitted in an interview with Gründerszene that it hasn't escaped him that there's a slight FOMO among investors when it comes to AI and defense startups . However, he cautions himself to exercise caution – because not all valuations these days are justified. Keyword: Hype Cycle.

businessinsider

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