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patrick murphy

T3 · host / generalist

Patrick Murphy is a Partner at Tapestry VC, a firm focused on backing repeat founders in Europe. He grew up in Ireland, spent 10+ years in San Francisco investing globally, and recently relocated to London. He has made ~70 investments as a VC, with 7 reaching $100M+ revenue, all having immigrant co-founders. Tapestry just raised an $80M Fund III anchored by British Business Bank.

11 calls·4 names·100% bull·last heard 2 months ago·Scaling Europe
track record

no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY

top calls

highest conviction · one per company
1sthigh conviction
$FIN-AIFin AIposition

Fin AI scales to $100M revenue in 2 years after AI pivot, acquired by Salesforce for $3.6B

The Intercom founders used 15 years of experience to refound the company around LLMs, burning their old product to bet on AI, achieving rapid scale and a major exit.

Scaling Europe2026-07episode →
2ndhigh conviction
$HOPPINHoppinposition

Hoppin returns $650M to investors after COVID boom and founder's disciplined wind-down

Johnny Boufarhat grew Hoppin to $100M ARR during COVID, then made hard decisions to return capital to investors and employees when the market shifted, demonstrating founder integrity.

Scaling Europe2026-07episode →
3rdhigh conviction
$NOTHINGNothingposition

Tapestry VC backs Nothing as repeat founder bet on consumer electronics

Patrick Murphy invested in Nothing because founder Carl Pei had previously built a phone business within a conglomerate, giving confidence he could execute again; the company has since achieved over $1B cumulative revenue.

Scaling Europe2026-07episode →

most discussed · click a bar to filter

  • $FIN-AI
  • $HOPPIN
  • $NOTHING
  • $LIME

recurring themes

  • Venture Capital4
  • Advanced Manufacturing2
  • Sovereign AI1
  • AI Applications1
  • Public Markets & Valuation1
11 total
$FIN-AI
Fin AI
HIGHpatrick murphy·Scaling Europe·2 months ago·Backing the repeat founders behind Europe's unicorns: Patrick Murphy, Partner at Tapestry VC· position
Fin AI scales to $100M revenue in 2 years after AI pivot, acquired by Salesforce for $3.6B
The Intercom founders used 15 years of experience to refound the company around LLMs, burning their old product to bet on AI, achieving rapid scale and a major exit.
"The same thing inspired our investment in Fin AI, formerly Intercom, which as you said was bought uh a couple weeks ago by Salesforce for 3.6 billion. And the team there, Des and…"
4:05
$HOPPIN
Hoppin
HIGHpatrick murphy·Scaling Europe·2 months ago·Backing the repeat founders behind Europe's unicorns: Patrick Murphy, Partner at Tapestry VC· position
Hoppin returns $650M to investors after COVID boom and founder's disciplined wind-down
Johnny Boufarhat grew Hoppin to $100M ARR during COVID, then made hard decisions to return capital to investors and employees when the market shifted, demonstrating founder integrity.
"Uh so, Hoppin, Johnny is an incredible entrepreneur. Uh we were a seed investor in Hoppin alongside some other great funds. And there was huge growth from zero to 100 million of A…"
5:10
$NOTHING
Nothing
HIGHpatrick murphy·Scaling Europe·2 months ago·Backing the repeat founders behind Europe's unicorns: Patrick Murphy, Partner at Tapestry VC· position
Tapestry VC backs Nothing as repeat founder bet on consumer electronics
Patrick Murphy invested in Nothing because founder Carl Pei had previously built a phone business within a conglomerate, giving confidence he could execute again; the company has since achieved over $1B cumulative revenue.
"say Carl and Nothing, he had so he had basically built an entire phone business before personal electronics business within a larger conglomerate and his success was amazing. I kn…"
2:47
$HOPPIN
Hoppin
HIGHpatrick murphy·Scaling Europe·2 months ago·Backing the repeat founders behind Europe's unicorns: Patrick Murphy, Partner at Tapestry VC· position
Hoppin returns $650M to investors after COVID boom and bust
Johnny Boufarhat grew Hoppin to $100M ARR during COVID, navigated intense free-product competition, made hard wind-down decisions, and returned ~$650M to investors while carving out capital for 1,000+ employees.
"we were a seed investor in Hoppin alongside some other great funds. And there was huge growth from zero to 100 million of ARR during COVID. And that also inspired a thousand compe…"
5:07
$LIME
Lime
MEDpatrick murphy·Scaling Europe·2 months ago·Backing the repeat founders behind Europe's unicorns: Patrick Murphy, Partner at Tapestry VC
Lime cited as global-first European infrastructure play
Lime's largest markets are European cities where it has become core urban mobility infrastructure, demonstrating European-built companies can own global physical networks.
"you look at a company like Lime, right? Wayne is good friend, the CEO. And congrats to them on like a great exit, same with Luke and the team at Bending Spoons. Lime's biggest mar…"
24:24
$NOTHING
Nothing
HIGHpatrick murphy·Scaling Europe·2 months ago·Backing the repeat founders behind Europe's unicorns: Patrick Murphy, Partner at Tapestry VC· position
Tapestry backs Nothing on repeat founder thesis
Carl Pei's prior experience building a phone business within a conglomerate gave Tapestry confidence he could execute again, leading to over $1B cumulative revenue.
"he had basically built an entire phone business before personal electronics business within a larger conglomerate and his success was amazing. I knew him socially and when he left…"
2:47
$FIN-AI
Fin AI
HIGHpatrick murphy·Scaling Europe·2 months ago·Backing the repeat founders behind Europe's unicorns: Patrick Murphy, Partner at Tapestry VC· position
Fin AI pivots to AI, hits $100M ARR in 2 years, sells to Salesforce
Intercom's veteran founders recognized the LLM shift, refounded the company around AI, burned the old product, and scaled from zero to $100M revenue in two years before a $3.6B exit to Salesforce.
"the team there, Des and Eoin uh and Kieran, the co-founders, they had built Intercom over 15 years today. Um but they saw the opportunity coming from LLMs and AI and said, "Okay,…"
4:05
$HOPPIN
Hoppin
HIGHpatrick murphy·Scaling Europe·2 months ago·Backing the repeat founders behind Europe's unicorns: Patrick Murphy, Partner at Tapestry VC· position
Hoppin returned $650M to investors after COVID boom/bust, founder prioritized employee payouts
Johnny built Hoppin to $100M ARR during COVID, acquired 4-5 competitors, but when the market turned he made hard decisions to return ~$650M to investors and carved out capital for 1000+ employees, demonstrating exceptional founder integrity and capital discipline.
"he did an incredible job competing in that market. He bought, I think, four, five companies... when the market decided that this was not going to be... as great a profitable long-…"
5:07
$NOTHING
Nothing
HIGHpatrick murphy·Scaling Europe·2 months ago·Backing the repeat founders behind Europe's unicorns: Patrick Murphy, Partner at Tapestry VC· position
Tapestry backs Nothing on repeat founder Carl Pei's consumer hardware track record
Carl Pei had already built a phone business within a larger conglomerate and brought his team with him, giving Tapestry high conviction to invest despite consumer hardware being typically avoided by VCs; Nothing has since achieved over $1B cumulative revenue.
"he had basically built an entire phone business before personal electronics business within a larger conglomerate and his success was amazing... knowing that he had already done t…"
2:47
$FIN-AI
Fin AI
HIGHpatrick murphy·Scaling Europe·2 months ago·Backing the repeat founders behind Europe's unicorns: Patrick Murphy, Partner at Tapestry VC· position
Fin AI refounded around LLMs, scaled 0 to $100M ARR in 2 years, sold to Salesforce for $3.6B
The Intercom founders (Des, Eoin, Kieran) had 15 years of experience building a SaaS company, recognized the LLM shift early, bet the company on AI, and executed a successful pivot from zero to $100M revenue in two years before a $3.6B exit to Salesforce.
"they saw the opportunity coming from LLMs and AI and said, okay, what is this going to do for our business? And they had enough experience to basically refound the company around…"
4:04
8
Venture Capitaltailwind
Repeat founders drive 60% of new European unicorns, creating $2T enterprise value
Patrick Murphy argues that Europe's 15-20 years of venture investment has created a deep pool of repeat founders who now start 60% of new unicorns, with $2T in enterprise value and employee count growing from 300K to 2M since 2018.
8
Venture Capitaltailwind
Immigrant founders show 2x higher IPO probability but receive only 25% of VC capital
Across Patrick's 70+ investments, all 7 companies reaching $100M+ revenue had immigrant co-founders. Broad data shows >50% of VC-backed IPOs have immigrant founders vs 25% of funding allocation, signaling a structural mispricing of founder grit and conviction.
8
Venture Capitaltailwind
Immigrant co-founders show 2x higher IPO probability but receive only 25% of VC funding
Murphy observes that all seven of his 100M+ revenue portfolio companies had immigrant co-founders, matching data showing >50% of VC-backed IPOs have immigrant founders despite only 25% of capital allocation, suggesting a durable edge from overcoming relocation challenges.
7
Sovereign AItailwind
UK recognized as AI hub as US LPs back European VCs to build global-first companies
British Business Bank and US LPs (backing funds like Adjacent, Air Street, Reset Concepts, Dig Ventures) are funding European VCs with US-style risk appetite, enabling UK/Europe to serve as a gateway for building global AI companies — 85% of Tapestry's portfolio already derives US revenue.
7
Venture Capitaltailwind
US LPs backing European funds import risk-taking culture, outperforming local LPs
Murphy notes US LPs like GIC and Australian super funds compound equity returns while European pension funds settle for 2-5%, and US LP capital into European funds (Adjacent, Air Street, etc.) is transferring a growth-oriented risk profile that helps Europe win.
7
AI Applicationstailwind
AI compresses time to commercialization for hard tech
AI tools are dramatically accelerating the pace at which founders can build and commercialize complex technologies, raising competitive standards and compressing time-to-market.
7
Public Markets & Valuationrisk
European pension funds risk irrelevance without equity exposure as tech compounds globally
Murphy warns that European investors avoiding equity risk (like German pension funds at 2-5% returns) will be left behind versus sovereign wealth funds compounding public and private equity, citing the 'steamroller' quote: in technology changeover, if you're not part of the steamroller, you've been steamrolled.
6
Advanced Manufacturingtailwind
Deep tech sheds stigma as VCs embrace science risk across Europe
Murphy welcomes the shift where deep tech is no longer a dirty word and more VCs are taking science risk, enabling university research to spin out into companies rather than staying in academia.