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With the news that Magic Pony has been acquired by Twitter, we are witnessing a crucial turning point - five of the world's biggest technology companies have now purchased UK-based Artificial Intelligence (AI) companies. It is no coincidence that at the same time (1972) we saw the birth of venture capital with both Kleiner Perkins and Sequoia Capital raising their first small venture funds – which had similar characteristics to today's emerging European VC funds: small funds, thematic focused and highly supportive of entrepreneurs. At the same time, much has been said about the flow of capital into European venture capital funds and skills these venture team now have. The Magic Pony acquisition is an important part of the story in building Europe's emerging technology industry.