The document discusses perspectives on venture capital opportunities in Europe. It notes that European VC has been undervalued compared to other alternative assets but that the last two years have seen a turning point. Key investment themes for 2008-2012 include "democratization" by providing access to closed markets and tools/services affordably. While the US dominates in number of leading tech companies, Europe has encouraging prospects for VC due to talent, markets, and sectors like wireless and open source software. Challenges for Swedish startups include incentives to grow and exit but opportunities include a tech savvy population and early adoption of new technologies.