Comment by jacquesm
Energy is a much larger theme than it was in the years before (obviously, since we're in the EU and energy overall is a larger theme in society here. This has a reflection in the VC market, but it also is part of a much larger trend, climate change and CO2 neutrality).
Another trend - and this surprised us - is a much stronger presence of really hard tech and associated industries and finally - for obvious reasons, so not really surprising - more parties active in defense.
Totally makes sense. Things that (once complete) have more realizable tangible value, rather than "optimizing user engagement" aka "enshittification" as some kind of imaginary value store for the last 20 years and is now being called in.