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Insights.
Short, practical perspectives on capital, strategy and performance.


Growth vs Control: The Capital Decisions Every Founder Eventually Faces
A defining moment in a company’s journey At some stage, most founder-led companies face the same question: Should we bring external investors into the business? External capital can accelerate growth, expand networks, and unlock new markets. But it also changes the governance and decision-making structure of the company. The Founder's Dilemma The trade-off often looks like this: Growth potential vs ownership control. External investors can bring: capital strategic expertise i
Lumina Partners
May 51 min read


The Inflection Point Problem: Why Many Companies Struggle Between €5M and €30M Revenue
The most difficult stage of growth The early stages of building a company are often defined by experimentation. But once a company reaches €5M–€30M in revenue , the challenges become different. At this stage, companies must transition from entrepreneurial execution to structured organisation. Why Scaling Becomes Difficult European scale-ups often face challenges including: access to growth capital leadership transitions operational complexity international expansion barriers
Lumina Partners
Apr 71 min read
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