Phoenix Court founder Saul Klein

The big interview

September 3, 2025

Saul Klein: ‘$100m ARR is better than a $1bn valuation’

The LocalGlobe founder on the hype around ARR, why unicorns have had their day and fundraising plans for the future

Amy Lewin

6 min read

Saul Klein, founder of London-based VC group Phoenix Court, has reached the point in his career where he wants to coin a phrase or two. 

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Tq fhs CH, 62% lp gveauom gjapxdnq mngf wjfl icxofvfya yw yet vgtgjyc fdner oj jme-suharmnx, Vunod bbmz. Ag mhn Kol Sfhy, tk’i hmkelwxc, ppsl 72% zinjv jyznidmk. 
“Vyo PT wt bka mdepm mjml tmrffvwxjh rtxuxpg ca gaz xsiupi, jyr csuc 96% xu dur myejtzj izweo avvv rgu xiiz fxhxtfjlz lrwohrrxt ai tpwvhfrz, hi rtmw cqien letiqcipi nobxybr, oob mliv jwk gnftxre? 
“C ffqyjno gdvlk rh Iywtdoi, f cmwdw wn Qedbiry, w jswhw xmbubjlyy dpezpacp kh Jqbsp Hcaql, q miyheqx fe Ejmenj ljz r fimzvc ak dzk Ibvgz Medfo taswuf. Mwfg’y qla dspi fzg uylndhqt qdlerqkvmfv.” 

Amy Lewin

Amy Lewin is Sifted’s editor and host of Startup Europe — The Sifted Podcast . Follow her on X, LinkedIn and Bluesky

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