E561 | David Vlerick⁠, Bluegrass Ventures: The Future of LP Capital

Welcome back to another episode of the EUVC Podcast, where we gather Europe’s venture family to share the stories, insights, and lessons that drive our ecosystem forward.

Today we welcome David Vlerick, Founding Partner at Bluegrass Ventures, to discuss how LP capital can be mobilised with meaning, why a platform approach makes venture more accessible, and what it takes to shift mindsets in a conservative market like Belgium.

Bluegrass Ventures backs top-decile, small-to-mid-sized VC funds globally, while giving investors flexibility and transparency through a platform model. In this conversation, David shares his journey from law and private equity into venture, the philosophy behind Bluegrass, and why he believes primary capital is one of the most powerful forces for shaping a brighter future.

🎧 Here’s what’s covered:

• 01:00 David’s Path: From law and private equity to launching Bluegrass Ventures.

• 05:00 Building Bluegrass: Why a platform, why small-to-mid-size funds, and why top-decile track records matter.

• 08:00 Fund Selection: Unfair advantages, avoiding hype cycles, and sector-focused funds.

• 15:00 The Person Behind Bluegrass: Travel, poetry, and how fatherhood shapes perspective.

• 22:00 Risk in VC: Why startups ≠ diversified funds, and what the data says.

• 27:00 Primary Capital: Fueling the future vs. parking money in secondary markets.

• 31:00 Belgium’s Culture: From conservatism and PE comfort to embracing venture.

• 36:00 Platform Model: How Bluegrass balances investor choice with portfolio discipline.

• 42:00 Venture as Community: High-calibre people, collaborative networks, and optimism.

• 43:00 Bluegrass’s Mission: Delivering Belgium’s best financial product and moving more money with meaning.