EUVC

Camilla Dolan, General Partner at Eka Ventures, joins a conversation following Eka being named Impact Leader of the Year 2025 at the EUVC Summit & Awards Show 2026.The award recognises exceptional positive impact alongside strong financial performance, with impact intention, measurement and reporting integrated throughout the investment process.The recognition follows the close of Eka' $107 million second fund, focused on health, wellbeing and sustainability as long-term drivers of value.In the conversation, Camilla explains Eka's shared value thesis and why the firm believes impact investing can drive outlier returns while bringing more commercial capital into the market.In Fund I, she says every pound invested by Eka has been followed by roughly £10 of additional capital, much of it from commercial investors.She also explains how Eka assesses founders, looking for people who learn at an exceptional rate, show high intentionality and have evidence of outlier achievement.Camilla connects that approach to investments including Runna, which Eka backed in 2022 before its acquisition by Strava.The discussion explores what it looks like to treat impact as part of the investment discipline itself, rather than something separate from commercial performance.The EUVC Summit & Awards Show returns in 2027. Find out more and secure your spot here.

What happens when AI agents begin doing more than following instructions and start actively deceiving the people around them?In the latest episode of This Week in European Tech, Dan Bowyer and Mads Jensen of SuperSeed are joined by Sion Evans, Managing Director at VenCap, to discuss a new AI security test where models created fake identities, tried to manipulate an open-source maintainer and attempted to hide what they had done when challenged.They look at what this means for cybersecurity, why increasingly autonomous systems create new attack vectors and how AI itself may become part of the defence.The episode also covers the wider shifts shaping European tech and venture this week.HighlightsAI agents, deception and the next cybersecurity challengeGoogle DeepMind's shift from research towards executionWhy venture returns remain dominated by a handful of outliersEurope's growth capital challenge and who should manage itWhy US investors are finding more opportunities in European techThis week's notable deals in AI chips and energy storage

Sonali De Rycker, Partner at Accel, is inducted into the EUVC Hall of Fame 2025 in this awards presentation from the EUVC Summit & Awards Show 2026.The award recognises individuals who have shaped European venture over more than a decade through the founders they backed, the firms they helped build and the ideas they advanced.Sonali joined Accel in 2008 and invests across consumer internet, software and fintech. Her investments include Spotify, one of the companies that helped establish what a globally significant European technology business could look like.In her acceptance remarks, she reflects on choosing Europe at a time when the ecosystem was fragmented and widely considered far behind Silicon Valley. What she saw instead were founders building without much infrastructure or support, often far beyond the continent's established technology hubs.She also discusses how Europe has strengthened as founders recycle talent, experience and capital into new companies, and why AI gives the continent another opportunity to build global leaders. Throughout, she returns to the belief that has shaped her career: exceptional European founders can build companies with global impact.The EUVC Summit & Awards Show returns in 2027. Find out more.

AI infrastructure investment continues to accelerate, but the gap between technical progress and sustainable returns is becoming harder to ignore.In the latest episode of This Week in European Tech, Dan Bowyer and Mads Jensen of SuperSeed, Lomax Ward of Outsized Ventures and Andrew J Scott of 7percent Ventures, discuss volatile tech markets, the economics behind data centre expansion and why stronger AI models do not always translate into meaningful automation.HighlightsWhy AI and tech stocks are experiencing sharper volatility than the wider marketWhether today's infrastructure spending can produce sustainable returnsNvidia's expanding role in financing the AI ecosystemWhy engineering, not model capability, may now be the main bottleneckWhat AI is revealing about post-quantum securityHow sovereignty is reshaping technology supply chainsThis week's standout deals across nuclear energy, robotics, defence and quantum computing

When software can be built and copied faster than ever, what still makes a consumer product stand out? Episode #4 of Consumer Tech Napkin, produced in partnership with True, explores how strong teams create an edge through user love, distribution, experimentation, learning loops and human judgement.Host Andreas Munk Holm is joined by Neil Tanna, Co-Founder and CEO of Howbout, Graham Paterson, Co-Founder and CEO of Jitty and an angel investor in Howbout, and Mike Martin of True, a consumer and retail-focused investor and an investor in Jitty.Howbout is the shared calendar app for keeping up with friends and has grown to more than seven million users across 125 countries. Jitty is the search engine for finding your next home.They discuss why features rarely create lasting defensibility, what separates a genuine experiment from simply shipping and hoping, how teams balance data with product taste and how AI is changing the speed of product development.HighlightsBuilding great products when features are easy to copyDistribution, user love and learning loopsIdeas versus executionWhat makes a genuine product experimentIncremental improvements versus bigger betsHow Howbout tests higher-risk changesWhere human judgement remains essentialTimestamps(01:00) Building great products when software is easy to copy(04:00) Does a unique founding insight still matter?(08:00) Ideas versus execution(11:00) The rising bar for consumer startups(13:00) Distribution as a moat(17:00) Why learning loops create an advantage(19:00) What makes an experiment?(20:00) Hypothesis-led product development(22:00) Product bets and building for remarkability(25:00) Where to test risky ideas(28:00) How Howbout runs experiments at scale(32:00) Lessons from Deliveroo's logistics experiments(34:00) How AI accelerates shipping and analysis(37:00) Can AI run experiments autonomously?(39:00) Why human taste still matters(43:00) How audience size compounds learning(45:00) Closing thoughtsSubscribe to EUVC, the home of European tech, for more insights.

Many talented professionals never realise there are investors willing to back them to buy and run an established small business, even if they have never been a CEO or worked in that sector before.In this episode of Unsung, host ⁠Will Maunder-Taylor⁠ speaks with ⁠Pascal Wittet⁠ and ⁠Sandy Farmer⁠, Co-Founders of ⁠Orca Equity Partners⁠, the UK's first and most active fund of search funds. They explain how Orca backs first-time CEOs across Europe, what they look for in aspiring business owners and why stable, cash-generative and often “boring” companies can offer compelling acquisition opportunities and large returns.They also explore what happens after a deal, from building the management team and introducing better systems to professionalising the business for its next stage of growth. Pascal shares the story of Water Direct, which grew from roughly £3 million to around £10 million in EBITDA and delivered a return of more than five times invested capital in under three years.HighlightsWhy investors back first-time CEOs with no sector experienceHow the search fund model worksWhat Orca looks for in aspiring business ownersWhy stable, cash-generative and “boring” businesses can be attractiveHow succession creates opportunities to acquire strong companiesWhat new CEOs should prioritise after taking overWhy empathy and humility matter when buying from a founderHow Water Direct delivered a return of more than 5xFor more on entrepreneurship through acquisition, small business ownership and Unsung events, ⁠subscribe to the Unsung newsletter⁠⁠.Timestamps(01:22) Introducing Orca Equity Partners(02:16) How Sandy moved from private equity into search funds(06:32) Why backing first-time CEOs can work(10:07) Search fund returns and CEO incentives(13:42) What makes a strong acquisition target(17:40) How searchers find overlooked small businesses(21:07) Using technology and professionalising acquired companies(29:28) What Orca looks for in future CEOs(36:14) The Water Direct story(42:23) Adam Johnson's first year as CEO(46:13) Building the right management team(51:51) Water Direct's growth and liquidity event(58:23) What the story means for aspiring business owners(59:22) Leadership, humility and lessons from the military(1:07:23) Closing thoughts

What would it take to get the UK economy moving again without losing ground in AI and technology?In this episode of This Week in European Tech, Mads Jensen and Dan Bowyer of SuperSeed are joined by Lomax Ward of Outsized Ventures to discuss what the UK's new government should prioritise, from lowering industrial energy costs and reforming planning to cutting regulation and encouraging more pension capital to back productive UK assets.They also examine possible US restrictions on Chinese open-source AI models, the Hugging Face breach, Alphabet's rising AI infrastructure spending and Tesla's bets on Robotaxi and Optimus.In addition, the conversation covers capital concentration in European venture, PayPal acquisition rumours, Travis Kalanick's Atoms and the week's major deals, including CuspAI, Arrakis and Delivery Hero.HighlightsWhat the UK's new government should do to restore growthHow regulation, planning and energy costs are holding back investmentWhether pension capital should be encouraged to back more UK assetsPossible US restrictions on Chinese open-source AIWhat the Hugging Face breach shows about AI and cybersecurityAlphabet's growing AI infrastructure spendTesla's Robotaxi and Optimus strategiesWhy venture funding is becoming more concentratedThe week's major deals, including CuspAI, Arrakis and Delivery Hero

In the 100th episode of This Week in European Tech,Mads Jensen and Dan Bowyer of SuperSeed are joined by Lomax Ward of Outsized Ventures and Andrew J. Scott of 7percent Ventures.Two years after the show began, they reflect on how much the technology and venture landscape has shifted. They compare the surge in AI funding, hyperscaler investment and trillion-dollar technology companies in the US with Europe's progress in company creation, venture activity and strategic technologies.The conversation also explores where Europe continues to lag, from pension capital and scale-up funding to energy, defence and access to space, and whether the continent can reduce its reliance on the US while building globally competitive companies.They then turn to 2028, sharing their views on the next phase of AI, robotics, smart glasses, quantum computing, sovereign technology and the infrastructure needed to support them.Key highlightsHow European venture has evolved over the past two yearsWhy Europe is creating more unicorns and decacorns while its global funding share remains under pressureThe increasing concentration of capital around AI and the largest US technology companiesWhether Europe can unlock more pension and institutional capital for ventureWhy every AI strategy is increasingly becoming an energy strategyEurope's position in defence, sovereign technology and space infrastructureThe next wave of robotics, autonomous vehicles and physical AIPredictions for AGI, quantum computing, smart glasses and the companies that could shape 2028—————Love Tomorrow Summit - July 23, 2026, Tomorrowland, BelgiumThe Impact Circle Investor Lounge - July 24, 2026EUVC is curating the investment stage.Register ⁠here⁠.

AI is giving attackers cheaper, faster ways to target organisations at scale. On the defensive side, security teams are starting to replace rigid playbooks with AI systems that can investigate incidents, adapt to new attack paths and support faster response.In this episode, Andreas Munk Holm speaks with Ahmed Achchak, Co-founder and CEO of Qevlar AI, and Réza Malekzadeh, General Partner at Partech, an investor in Qevlar AI.They discuss how Ahmed and his co-founder approached cybersecurity without coming from traditional security backgrounds, why that outsider perspective helped them rethink static playbooks and how Qevlar AI is moving security teams beyond manual triage.The conversation also covers why organisations should assume breach, how automated remediation can be governed without turning the system into a black box, how young startups earn trust with major enterprise customers, Europe's cybersecurity opportunity and why founders need to build security into their products from day one.HighlightsHow AI is reshaping cyberattacks and cyber defenceWhy static security playbooks are falling behindHow an outsider perspective shaped Qevlar AIHow Qevlar AI investigates and responds to incidentsWhy organisations should assume breachHow startups build trust with enterprise customersEurope's opportunity to build global cybersecurity leadersWhy security must be built in from day one---Learn more about the Love Tomorrow Summit and the programmes EUVC is curating, and secure your tickets here.---Timestamps(02:00) Introduction to Qevlar AI and Partech(03:00) How AI is changing cybersecurity(05:00) From cloud security to the AI shift(07:20) Why small businesses are increasingly exposed(09:00) Building Qevlar AI without a traditional security background(12:00) Why outsider founders can rethink established industries(14:20) How Qevlar AI investigates cyber incidents(18:30) Why organisations should assume breach(21:30) Governing AI-driven security decisions(26:00) Winning trust with enterprise customers(30:30) Europe's cybersecurity advantage(34:00) Why European companies still need to think globally(37:00) Qevlar AI's long-term vision(39:00) Why Partech backed the team(40:30) Why security can no longer be an afterthought(43:00) Closing thoughts

Europe's AI position is being tested from every direction: Chinese open-weight models are gaining usage, Nvidia could become even more central to the stack and Europe still has gaps across power, chips, data centres and model capacity.In the latest episode of This Week in European Tech, Mads Jensen and Dan Bowyer of SuperSeed are joined by Lomax Ward of Outsized Ventures to discuss the AI power shift between China, the US and Europe.They also cover UK pension capital moving into venture, whether today's AI market looks like 1999, Anthropic and OpenAI's IPO pressure, model commoditisation and where Europe may still have an edge.HighlightsWhy China's AI model usage is becoming harder to ignoreWhat Chinese model restrictions could mean for EuropeEurope's AI infrastructure gap across power, chips, data centres and modelsWhether UK pension capital is finally moving into ventureWhy today's AI market both does and does not look like 1999Where Europe may still have a real opportunity in AI—————Love Tomorrow Summit - July 23, 2026, Tomorrowland, BelgiumThe Impact Circle Investor Lounge - July 24, 2026EUVC is curating the investment stage.Register here.—————Timestamps(01:45) Introduction(03:25) Quick news roundup(05:30) Tesla, SpaceX, Samsung and the week's market signals(08:00) The UK's fiscal outlook and the OBR warning(11:10) Government oversight of frontier AI releases(12:00) China's rise in AI model usage(14:30) Could Nvidia benefit if China restricts model access?(17:00) Europe's exposure across the AI infrastructure stack(19:15) OpenAI, Anthropic and the pressure to IPO(22:45) UK pension capital starts moving into venture(25:00) Why pension investment matters for the UK ecosystem(28:00) Where pension capital should be deployed(30:00) Incentives, coercion and the role of government(32:45) Is today's AI market another 1999?(40:30) The case against the dot-com comparison(46:30) AI Corner: Anthropic's Fable and Sonnet strategy(48:30) Lisbon's earthquake history and engineering response(54:15) Lisbon's tech ecosystem(56:30) Europe's opportunity, deals of the week and what to watch next

Corporate venturing works best when investing is only one part of the model. To drive real transformation, corporates need to build, partner and invest in ways that reinforce each other.In this episode, Andreas Munk Holm speaks with Alex Manson, CEO at SC Ventures by Standard Chartered and author of Nothing Ventured, Nothing Gained, alongside Jeppe Høier, EUVC's in-house corporate expert.Together, they explore why SC Ventures was built to operate both inside and outside the bank, how corporates can build independent but institutionally backed ventures and why corporate ventures need to prove themselves through the market.The conversation also covers venture clienting, corporate-startup partnerships, when corporates should invest, why SC Ventures only backs partners it actually works with and why financial returns remain non-negotiable.HighlightsWhy corporate venturing is more than traditional CVCThe role of build, partner and invest in corporate transformationWhy SC Ventures builds outside the bank but at bank-gradeWhy corporate ventures must prove themselves in the marketHow to balance strategic value with financial returnsTimestamps(01:15) Introduction to Alex Manson and SC Ventures(02:05) Why Standard Chartered created SC Ventures(05:40) Building ventures inside and outside the bank(09:20) Governance, risk and compliance in corporate ventures(17:45) Why corporate ventures must prove themselves in the market(24:40) Moving from build to partner(27:15) Why SC Ventures is not a traditional CVC(29:10) Why SC Ventures only invests in partners it works with(35:35) Real partnerships versus innovation theatre(38:35) Strategic value versus financial returns(43:35) Why Alex wrote Nothing Ventured, Nothing GainedLearn more about Nothing Ventured, Nothing Gained by Alex Manson, CEO at SC Ventures, here.

What happens when a society becomes too afraid to take risks?In the latest episode of This Week in European Tech, Mads Jensen and Dan Bowyer of SuperSeed are joined by Lomax Ward of Outsized Ventures to discuss whether the West's growing aversion to risk is holding back innovation, capital allocation and long-term competitiveness.Together, they explore UK technology policy, AI infrastructure, trade tensions, enterprise AI adoption and defence investing, alongside a broader discussion about capital allocation, competitiveness and where the next generation of technology winners will come from.HighlightsIs the West becoming too risk-averse?What a new UK government could mean for technologyWhy AI is becoming a geopolitical assetThe next phase of enterprise AI adoptionHow trade tensions are reshaping technology marketsWhy the biggest venture winners are rarely obvious earlyWhat Quantum Systems says about investing ahead of the market—————Love Tomorrow Summit - July 23, 2026, Tomorrowland, BelgiumThe Impact Circle Investor Lounge - July 24, 2026EUVC is curating the investment stage.Register here.—————Timestamps(00:00) Introduction(01:00) News roundup(05:00) Burnham's Britain and the future of UK growth(10:00) Has the West become too risk-averse?(21:00) AI, governments and strategic control(35:00) AI markets: rotation, not collapse(43:00) Trade tensions, tariffs and Europe's dilemma(55:00) Why AI still needs humans(01:01:00) Deal of the week: Quantum Systems(01:04:00) Deal of the week: EquiLibre(01:05:30) What to watch next week

Great consumer teams still start with the customer. AI is changing the speed, tools and team structures around them, but the fundamentals of building enduring consumer companies remain remarkably consistent.In Episode 3 of the Consumer Tech Napkin series, produced in partnership with True Global, ⁠Andreas Munk Holm⁠ speaks with ⁠Rishabh Kaul⁠ (Venture Partner at ⁠Hoxton Ventures⁠), ⁠Mike Martin⁠ (Director, Investment at ⁠True Global⁠) and ⁠Camilla Dolan⁠ (General Partner at ⁠Eka Ventures⁠).Together, they discuss the DNA of successful consumer teams, what investors look for in founders, how AI is reshaping product development, hiring and experimentation, and why customer obsession, distribution and execution continue to separate the best consumer companies from the rest.The conversation also explores defensibility in the AI era, whether consumer investing has truly changed and which consumer categories excite investors most.HighlightsWhat great consumer teams have in commonWhy customer obsession still matters mostHow AI is changing product developmentDistribution as a consumer startup superpowerWhat investors look for in consumer foundersHow to build AI-native teamsThe biggest red flags in consumer investing------Learn more about the Love Tomorrow Summit and the programmes EUVC is curating, and secure your tickets ⁠here⁠.------Timestamps(00:00) Introduction(02:00) What makes a great consumer team?(07:45) Customer obsession vs. distribution as competitive advantages(13:10) Building teams that can scale with the company(21:10) How AI is changing consumer founders and products(26:00) Can AI-native teams stay lean?(31:10) Why experimentation is becoming a competitive advantage(35:00) Hiring in the AI era: curiosity, expertise and learning velocity(39:50) The biggest red flags in consumer founders(44:00) Founder intensity, disagreement and closing thoughts

The next chapter for UK technology may depend as much on capital markets as company building.In this episode of This Week in European Tech, Dan Bowyer and Mads Jensen of SuperSeed are joined by Neil Shah, Director, Tech Sector Specialist at London Stock Exchange Group (LSEG).They discuss what it will take to unlock more capital for UK technology, from pension reform and IPOs to public markets and founder liquidity.The conversation also explores what Micron's latest results reveal about AI infrastructure demand, Europe's defence investment boom, the rise of sovereign AI and where value is likely to be created as AI adoption accelerates.HighlightsCan the UK mobilise more capital for technology?Why pension reform matters for innovationThe outlook for UK IPOs and public marketsHow PISCES could reshape private market liquidityWhat Micron's results reveal about AI demandEurope's defence technology investment boomWhy sovereign AI is becoming a strategic priorityWhere the next wave of AI value is likely to be createdLearn more about the Love Tomorrow Summit and the programmes EUVC is curating, and secure your tickets here.Timestamps(00:00) Introduction(02:00) This week's topics and guest introduction(03:00) The outlook for UK tech IPOs(05:00) Markets, AI and the IPO landscape(08:00) Why Micron matters for AI(13:00) Can the UK unlock more capital?(17:00) Capital markets, PISCES and IPO reform(23:00) Europe's defence technology boom(31:00) The AI economy and where value will be created(37:00) Sovereign AI and Europe's strategy(43:00) Predictions, deals of the week and what's next

Most innovation programmes start with reasonable assumptions. The challenge is that reality often proves them wrong.In this episode, Andreas Munk Holm and Jeppe Høier speak with Cynthia Hansen, Managing Director of The Innovation Foundation, empowered by the Adecco Group, about four lessons learned from building and scaling employment solutions for people often excluded from the labour market.Cynthia shares how her team moved from designing programmes around demographics to designing around trends, why technology became central rather than supportive and what it takes to build venture teams capable of creating scalable social impact inside a large organisation.The conversation also explores the evolution of the Foundation's Scan, Build, Scale methodology, the challenge of finding people who can operate across business and social impact and how Foundry is helping create the next generation of innovation talent.Highlights Why designing around demographics led to repeating patternsHow trend-based innovation changed the team's approachThe evolution of the Scan, Build, Scale frameworkWhy technology became essential to scaling impactThe challenge of finding the right venture buildersHow Foundry is creating a pipeline of innovation talentWhat corporate innovators can learn about designing for scaleWhy scale should be built into a solution from day oneTimestamps(00:00) Introduction(02:00) What The Innovation Foundation does and why Adecco created it(03:00) Learning 1: Why demographics were the wrong place to start(08:00) Moving from audiences to trends(10:00) How the team identifies emerging labour market shifts(14:00) Learning 2: The Scan, Build, Scale framework(18:00) The challenge of finding the right venture builders(20:00) Introducing Foundry(23:00) Learning 3: Why technology became central(26:00) Technology, scale and the digital divide(29:00) Measuring impact beyond reach and job placement(31:00) The flywheel behind scaling social innovation(35:00) Learning 4: Building the right teams(38:00) What entrepreneurs can learn about working with corporates(39:00) Closing thoughtsSubscribe to EUVC, the home of European tech, for more insights.

Europe's best founders are no longer building for Europe first and the US later. They're building global companies from day one.In this episode, Andreas Munk Holm speaks with Seedcamp Principal Will Bennett as Seedcamp announces a new $320 million fund, split between a $220 million Core fund and a $100 million Select fund.Will explains why Seedcamp is expanding its US presence, how its transatlantic bridge helps founders access customers, talent and capital earlier and why the firm's conviction remains centred on backing exceptional founders before the company or category is obvious.The conversation also explores how AI is intersecting with science and the physical world, what excites Seedcamp about the next generation of startups and how venture is evolving after nearly two decades of investing.Disclosure: EUVC is a small LP in Seedcamp's latest fund and has also invested in previous Seedcamp funds.Key highlightsWhy Europe's best founders are building global companies from day oneThe strategy behind Seedcamp's $320 million fund raiseHow the transatlantic bridge helps founders access customers, talent and capital earlierWhy Seedcamp backs founders before the company or category is obviousHow AI is intersecting with science and the physical worldTimestamps(00:00) Introduction and Seedcamp's $320 million fund raise(01:00) Why Seedcamp launched a dedicated Select fund(03:00) Supporting founders beyond the first cheque(05:00) Venture's next frontier(06:00) AI, science and the physical world(11:00) Valuations, competition and the current market(17:00) Why Seedcamp is building a transatlantic bridge(18:00) Helping European founders win in the US(19:00) Building global companies from day one(21:00) Why pre-seed investors should avoid rigid theses(24:00) Closing thoughtsSubscribe to EUVC, the home of European tech, for more insights.

Europe already produces world-class technology companies. The mistake is assuming future winners will look obvious before they become winners.In this episode of This Week in European Tech, Dan Bowyer and Mads Jensen of SuperSeed speak with Joe Schorge, Founder and Managing Partner at Isomer Capital, about why the best investors focus less on predicting outliers and more on building exposure to exceptional founders, technologies and ecosystems.Joe shares why Europe's next trillion-dollar company is probably already operating today, what Amazon and Google teach us about identifying future winners and why diversification remains one of the most powerful tools in venture capital.The conversation also covers AI sovereignty, Anthropic's model shutdown, DeepSeek's $7 billion round, Mistral's latest raise and Europe's position in the global AI race.Key highlights:Why Europe's next trillion-dollar company probably already existsWhy future winners rarely look obvious early onThe LP case for backing ecosystems instead of chasing predictionsLessons from Amazon and GoogleWhy Europe already produces world-class technology companiesWhy tech sovereignty depends on world-class productsDeepSeek, Mistral and the future of AI infrastructureWhether Europe can compete with the US and China in frontier technologyTimestamps(00:00) Introduction(05:00) Why Accenture matters for the future of AI adoption(12:00) Anthropic's model shutdown and AI sovereignty(15:00) Why tech sovereignty is creating opportunities for European startups(20:00) AI alliances, geopolitics and Europe's position(26:00) DeepSeek's $7 billion funding round(31:00) Mistral's next chapter and Europe's AI ambitions(35:00) Can Europe build a trillion-dollar technology company?(38:00) Why future winners rarely look obvious(40:00) Europe's world-class technology companies(41:00) Isar Aerospace and European winners(42:00) European tech deal of the week(43:00) The week ahead in AI and ventureLearn more about the Love Tomorrow Summit and the programmes EUVC is curating, and secure your tickets here.

The next generation of great founders will be scientists and engineers.That's the argument of ⁠Ramzi Rizk⁠, General Partner at ⁠WIP Capital⁠, a €10 million solo-GP fund backing scientists and engineers at the intersection of bio, neuro and foundational AI.In this episode, ⁠Andreas Munk Holm⁠ speaks with Ramzi about why the biggest opportunities in venture are moving beyond SaaS, how AI is accelerating scientific discovery and why founders with deep technical expertise may have an advantage in building the next generation of category-defining companies.The conversation explores Ramzi's recent visit to the Asilomar neurotechnology conference, Europe's opportunity in deep science, the idea that the natural world is becoming computable and the lessons he's learned from building companies, making more than 60 angel investments and launching WIP Capital.Topics coveredWhy the next generation of founders will be scientists and engineersWhy the alpha is in sci-fi, not SaaSLessons from the Asilomar neurotechnology conferenceEurope's opportunity in deep science and researchWhy the natural world is becoming computableHow AI is accelerating scientific discoveryWhat Ramzi looks for in technical foundersBuilding WIP Capital as a solo GPTimestamps(02:00) Introduction and Ramzi Rizk's background(04:00) Inside the Asilomar neurotechnology conference(09:00) Europe's opportunity in deep science(11:00) Why Ramzi backs scientists and engineers(16:00) What makes a great technical founder(19:00) Commercialising scientific research(23:00) Why the natural world is becoming computable(25:00) Bio, neuro and the next wave of AI innovation(27:00) Why the best investors follow patterns, not sectors(29:00) Building WIP Capital as a solo GP(31:00) Why deep tech may move faster than investors think(33:00) The future Ramzi wants to help buildLearn more about the Love Tomorrow Summit and the programmes EUVC is curating, and secure your tickets ⁠⁠⁠here⁠⁠⁠.

Europe's challenge isn't a lack of entrepreneurs. It's making sure enough capital reaches them.In this episode, David Cruz e Silva speaks with Jaap Vriesendorp, Managing Partner at Marktlink Capital, one of Europe's most active LPs in venture capital, about why backing European innovation matters, how to build a resilient venture portfolio and what separates the best fund managers from the rest.Jaap shares the thinking behind Marktlink's venture strategy, from vintage diversification and secondaries to manager selection and portfolio construction. He also explains why scale matters in private markets, how the firm uses data science and AI in its investment process and why many LPs make the mistake of running out of capital for their best-performing managers.The conversation also covers emerging managers, long-term capital formation and why Europe deserves more credit as a venture ecosystem.Key highlights:Why European entrepreneurs should back European entrepreneursHow one of Europe's most active VC LPs approaches venture investingThe role of primaries, secondaries and vintage diversificationWhat Jaap looks for in emerging managersWhy scale matters in private marketsHow data science and AI support investment decisionsThe biggest mistakes fund-of-funds investors makeWhy long-term capital is critical to venture successTimestamps:(00:00) Why Europe needs more capital flowing into innovation(02:00) Introduction and Jaap Vriesendorp's background(05:00) From McKinsey to launching a venture fund-of-funds(08:00) The merger that created Marktlink Capital(10:00) Building a platform backed by entrepreneurs(14:00) Why scale matters in private markets(17:00) Product strategy across venture, private equity, co-investments and private credit(23:00) How Marktlink uses data science and AI in investing(29:00) Marktlink's venture investment strategy(30:00) Vintage diversification, primaries and secondaries(33:00) Why annual funds help secure long-term LP capital(37:00) What Marktlink looks for in emerging venture managers(40:00) Why Europe deserves more credit as a venture ecosystemFurther listening:⁠⁠⁠E347: The $26B CIO Who Turned Superforecasting Into Alpha - How I Invest with David Weisburd⁠⁠⁠Learn more about the Love Tomorrow Summit and the programmes EUVC is curating, and secure your tickets ⁠⁠here⁠⁠.

Quantum computing has spent decades being "just around the corner".Now quantum companies are raising record rounds, heading to public markets and moving closer to commercial adoption.In the latest episode of This Week in European Tech, Mads Jensen of SuperSeed is joined by Andrew J. Scott, Managing Partner at 7percent Ventures, and Callum Stewart, Principal at BullhoundCapital, to discuss why quantum may finally be reaching an inflection point.The conversation explores BullhoundCapital's investment in Oxford Quantum Circuits (OQC), when quantum advantage could become commercially meaningful, why quantum sensing may arrive before large-scale quantum computing and what Europe's position could be in the next wave of deep tech.They also discuss sovereign AI, Anthropic's latest model release, AI infrastructure, Britain's technology strategy and the biggest stories shaping European tech this week.Topics coveredWhy quantum may be closer to commercial adoption than many investors thinkThe investment thesis behind OQCQuantum computing versus quantum sensingEurope's opportunity in quantum and deep techSovereign AI and frontier modelsAnthropic's latest release and the future of AI infrastructureThe UK's approach to AI chips, compute and technology sovereigntyTimestamps(00:00) Introduction and today's agenda(03:00) SpaceX's IPO and the impact on venture(08:00) OpenAI, Anthropic and the AI race(16:00) Why quantum is reaching an inflection point(18:00) The investment case for Oxford Quantum Circuits(20:00) When quantum computing becomes commercially useful(25:00) Quantum sensing and the next wave of applications(31:00) Anthropic's new model and AI safety(41:00) Europe's AI regulation dilemma(46:00) Britain's sovereign AI ambitions(54:00) The UK's AI infrastructure strategy(01:05:00) European tech deals of the week(01:08:00) The week ahead in European techLearn more about the Love Tomorrow Summit and the programmes EUVC is curating, and secure your tickets here.

Most companies have access to AI tools. Far fewer have figured out how to drive adoption across an entire organisation.In this episode, Andreas Munk Holm and Jeppe Høier are joined by Nils Wagner, CEO of REHAU New Ventures, the corporate venturing unit of the REHAU Group, and a third-generation member of the Wagner family behind REHAU.Nils shares how REHAU built a secure AI platform, launched an AI Academy and AI Factory, reached 10% adoption within months and is targeting 50% by year-end. He also explains why the company moved from venture building to venture clienting and what other corporates can learn from the experience.Key topics Scaling AI adoption across a large industrial organisationBuilding a secure platform with access to multiple LLMs and company dataThe AI Academy and AI Factory modelReal-world AI use cases, including a touchless invoice workflow with 94% automation ratesWhy most corporates struggle with AI implementationLessons from REHAU's shift from venture building to venture clientingTimestamps(00:00) Why corporates struggle with AI adoption(02:00) Introducing Nils Wagner and REHAU New Ventures(06:00) Why REHAU started with venture building(15:00) The move to venture clienting(18:00) What makes venture clienting work(25:00) Why REHAU prioritised AI(27:00) Building REHAU's AI platform(28:00) The AI Academy approach(30:00) The AI Factory and workflow automation(31:00) AI use cases across REHAU(31:30) The touchless invoice project(33:00) Lessons for corporates implementing AI(34:00) The future of enterprise AISubscribe to EUVC, the home of European tech, for more insights.

Europe wants AI sovereignty. But can it reduce its dependence on foreign technology without sacrificing innovation, capability and competitiveness?In this episode of This Week in European Tech, Dan Bowyer and Mads Jensen of SuperSeed are joined by Matt Russell, Managing Director (Head of Secondaries) at VenCap International, to discuss Europe's growing sovereignty push, the debate around Palantir, the future of venture secondaries, enterprise AI adoption and the latest developments from Anthropic, SpaceX and OpenAI.The conversation explores why venture secondaries may be entering a new phase of growth, why some of the best-performing secondary investments are bought at premiums rather than discounts and what Europe's path to sovereign AI infrastructure could look like.Topics covered:Europe's AI and cloud sovereignty challengeThe Palantir debate and the risks of vendor lock-inWhy venture secondaries could become a much larger marketThe biggest misconceptions about secondary investingEnterprise AI adoption and the challenge of measuring ROIAnthropic, SpaceX and the next generation of AI mega-companiesOpenAI and the future of AI regulationWhether Europe can build sovereign AI infrastructureWhy AI may ultimately be a productivity and margin storyTimestamps(00:00) Introduction and the rise of venture secondaries(01:00) Why liquidity is becoming venture capital's biggest theme(05:00) Europe's sovereignty push and the Cloud & AI Development Act(12:00) Sovereign cloud, AI infrastructure and the search for European champions(18:00) The Palantir debate: dependency, lock-in and strategic control(24:00) Enterprise AI adoption, experimentation and proving ROI(31:00) Anthropic, SpaceX and the next wave of mega-cap technology companies(38:00) AI regulation, liability and the OpenAI lawsuit(42:00) Predictions: Europe's two-tier AI future(47:00) Deal of the week: defence tech, Gigaton and autonomous systems(50:00) What's next: Apple, the ECB and the SpaceX IPO(55:00) Closing remarksSubscribe to EUVC, the home of European tech, for more insights: https://www.eu.vc/subscribe

Tomorrowland is one of Europe's best-known festivals.Less known is that it quietly helped create one of Europe's most interesting corporate-startup matchmaking platforms.In this episode, Andreas Munk Holm speaks with Joris Beckers, Co-Founder of Love Tomorrow, and Mats Raes, Event Director of Love Tomorrow and The Impact Circle, about how a sustainability initiative evolved into an open innovation platform connecting startups, corporates, investors and public institutions.The conversation starts with a simple idea: Tomorrowland is not just a festival. It is a temporary city of more than 75,000 people per day, facing many of the same challenges as any major city, from energy and water to waste, mobility and logistics.That insight led to Love Tomorrow, Tomorrowland's official sustainability and innovation platform. As startups, corporates and public institutions increasingly began using the festival as a real-world testing ground for innovation, one challenge remained: connecting promising technologies with customers, deployment partners and smart capital.The result was The Impact Circle, Europe's exclusive innovation network for impactful entrepreneurship. Through challenge-led collaboration, curated startup selection and partnerships including the European Innovation Council's Corporate Partnership Programme, The Impact Circle brings together startups, corporates, investors and public institutions around shared innovation challenges.Joris and Mats explain how Tomorrowland became a stress test for innovation, why corporates increasingly engage as deployment partners rather than sponsors, and how The Impact Circle helps move innovation from pilot projects to real-world adoption.Key highlightsWhy Tomorrowland describes itself as a "hyper-compressed city"How Love Tomorrow evolved from a sustainability initiative into an open innovation platformWhy startups need real-world testing environmentsHow innovation is stress-tested in real-world conditionsWhy corporates increasingly act as deployment partnersThe role of venture clienting in startup growthWhy "smart capital" led to the creation of The Impact CircleThe Impact Circle's partnership with the European Innovation CouncilHow curated ecosystems improve innovation adoptionWhat investors, founders and corporates can expect from Love Tomorrow Summit and The Impact CircleTimestamps(00:00) Introduction(01:00) From Tomorrowland to Love Tomorrow(06:40) The "hyper-compressed city" thesis(11:00) Why startups need real-world testing environments(13:20) Why The Impact Circle was created(16:40) How The Impact Circle works(20:30) Venture clienting, corporates and startup deployment(23:20) Love Tomorrow Summit vs The Impact Circle(24:00) What makes Tomorrowland different from traditional conferences(26:20) Who should attend and why(28:30) Final thoughtsMore informationLove Tomorrow Summit takes place on 23 July 2026 at Tomorrowland's iconic grounds in Boom, Belgium. The Summit unites the brightest minds — thinkers, entrepreneurs, music artists and leaders — to explore the future of intelligence, and what it asks of humans, organisations and society. With 80+ speakers and artists, the programme combines keynotes, networking, music, entertainment and a magical evening show.On July 23, EUVC is curating the investment stage at Love Tomorrow Summit, including 90 minutes of investor-focused keynotes on the Rose Garden Stage. On July 24, EUVC will host a dedicated investor programme at The Impact Circle Investor Lounge.Get your tickets here.#EUVC #VC #VentureCapital #Investing #TheEuropeanVC #Podcast #Tech #Startup

What if the strongest moats in the AI era aren't algorithms, but the data those algorithms depend on?In the second episode of the Consumer Tech Napkin series, Andreas Munk Holm speakes with Renato Circi and Rafaël Michali, Co-Founders at Sava, and Joe Seager-Dupuy, Director, Investment at True, to discuss how founders should think about defensibility when technology is becoming easier to build.SAVA is developing advanced biosensing technology designed to access bodily information in a painless, real-time and affordable way. Their core belief is that while AI may accelerate software development, the hardest problems and the most valuable companies will be built around scarce data, difficult infrastructure and bottlenecks that cannot easily be replicated.Together, they explore what separates static moats from dynamic ones, why patents and regulatory approvals are often just the starting point and how the best companies create advantages that strengthen as they scale.Topics coveredWhy the best moats are often non-consensusStatic versus dynamic moatsWhy patents and regulation are not enoughIdentifying bottlenecks that create lasting valueAI, proprietary data and defensibilityBuilding platforms instead of productsWhy user experience can be a moatEurope's advantage in deep techTimestamps(00:00) Why moats matter in consumer technology(02:00) Introducing Sava and the future of health monitoring(06:00) What a moat actually is(09:00) The Apple Watch question and non-invasive sensing(12:00) Consumer experience versus incumbent medical devices(15:00) How great companies sequence moats(18:00) From patents to platforms(22:00) Bundling, ecosystems and long-term defensibility(24:00) Static versus dynamic moats(27:00) Why patents only buy time(29:00) Owning bottlenecks in health data(31:00) Why AI increases the value of proprietary data(36:00) Europe's deep tech advantage(40:00) The biggest misconceptions about moats(43:00) Why the best moats are often non-consensusConsumer Tech Napkin is brought to you in partnership with True.Subscribe to EUVC, the home of European tech, for more insights.

Everyone says AI is taking jobs. The data says something more complicated.In this episode of This Week in European Tech, Dan Bowyer and Mads Jensen of SuperSeed unpack the growing panic around AI-driven job losses, why junior hiring is falling across many industries and whether AI is actually the culprit.They explore new research suggesting remote work may be having a bigger impact on entry-level employment than AI, discuss the UK's record number of young people not in employment, education or training and examine what the data really shows about automation and labour markets.They also cover Anthropic's latest model release, the rise of AI application-layer companies, Europe's sovereignty debate, the economics of AI infrastructure and a zero-employee AI company that just raised $30 million.Topics coveredIs AI really replacing workers?Why junior hiring is fallingWhat the data says about AI and employmentAnthropic's rise and Opus 4.8Why the AI application layer is winningEurope's tech sovereignty dilemmaThe zero-employee AI company phenomenonAI infrastructure beyond GPUsTimestamps(00:00) The rise of the zero-employee AI company(04:50) Why AI applications are becoming more valuable(09:00) AI infrastructure moves beyond GPUs(16:00) Snowflake, Salesforce and enterprise AI adoption(24:00) Anthropic's latest model and valuation surge(27:00) Europe's sovereignty dilemma(33:00) The $30 million zero-employee AI startup(35:45) Is AI actually taking jobs?(38:00) What the data says about junior hiring(41:00) Why AI may not be the main cause(46:00) Predictions: which AI unicorn could fail next?(48:00) Deal of the week: Cognition and DevinFor more European venture, AI and startup insights, subscribe to EUVC, the home of European tech.

Most VCs think corporate venture capital is slower, more conflicted and structurally weaker than traditional venture firms. Marc Thom, Corporate Vice President and Head of Henkel Ventures, argues the opposite and explains why the best CVCs may actually outperform traditional VCs over time.In this episode, Marc joins Andreas Munk Holm and Jeppe Høier to discuss how Henkel built one of Europe's leading corporate venture platforms, why most startup-corporate partnerships fail and how corporates can create both strategic and financial advantage through venture investing.Topics coveredWhy the best CVCs can outperform VCsHow Henkel structures venture investing and partnershipsThe “holy bible” behind startup collaboration inside corporatesWhy most startup partnerships fail internallyThe role corporates should play on startup cap tablesHow AI is reshaping industrial R&D and materials scienceTimestamps(00:00) Why CVCs can outperform traditional VCs(04:00) How Henkel structures startup sourcing and partnerships(11:00) The use case framework behind Henkel Ventures(16:00) The “Role of Henkel” in startup investing(23:00) Why Henkel invested in ResearchGate(27:40) AI, chemistry and the future of industrial R&D(30:20) Why Marc believes CVCs can outperform VCs(36:00) How Henkel built internal alignment for venture investingSubscribe to EUVC, the home of European tech, for more insights.

AI is no longer just a technology story. It is reshaping capital markets, infrastructure and industrial policy.In the latest episode of This Week in European Tech, Mads Jensen and Dan Bowyer of SuperSeed break down NVIDIA's dominance of the AI economy, the return of the IPO market through OpenAI, Anthropic and SpaceX, and Europe's push to build sovereign technology capabilities.HighlightsNVIDIA and the economics of AI infrastructureOpenAI, Anthropic and the IPO market reopeningEurope's sovereign AI pushAI backlash and political risk in the USUnitree and the rise of humanoid roboticsIsomorphic Labs and AI-driven drug discoveryTimestamps(03:00) NVIDIA is swallowing the AI economy(06:20) The IPO market is reopening through OpenAI, Anthropic and SpaceX(08:40) Why SpaceX is really an AI infrastructure story(11:40) OpenAI's IPO could expose the real economics of AI(13:40) Why Unitree and humanoid robotics matter for Europe(20:10) Europe's sovereign AI push through Mistral, EQT and Quantexa(27:40) Americans are turning against AI(36:10) Isomorphic Labs and Europe's biggest AI biotech opportunitySubscribe to EUVC, the home of European tech, for more insights.

How do you build a €3.5 billion private markets platform in Europe?David Cruz e Silva speaks with Jaap Vriesendorp, Managing Partner at Marktlink Capital, about building a leading private markets platform backed primarily by entrepreneurs and high-net-worth families.Jaap explains why Marktlink sees scale as a competitive advantage in private markets, enabling better fund access, flexible ticket sizing and stronger operational infrastructure. The conversation also explores the firm's merger strategy, annual fund structures, vintage diversification and ambitions to expand across Europe.The episode comes shortly after Inflexion announced a minority investment into Marktlink Capital through Partnership Capital III, backing the firm's next phase of European growth.Key highlightsScaling to nearly €3.5 billion AUM backed mostly by entrepreneursWhy scale matters for fund access and LP consistencyCombining venture and private equity capabilitiesAnnual fund structures and vintage diversificationBuilding infrastructure for long-term European expansionTimestamps(01:00) Introduction and Jaap's background(06:00) From McKinsey to launching a venture fund-of-funds(07:00) The early merger strategy behind Marktlink Capital(09:30) Building a platform backed by Dutch entrepreneurs(12:30) Why scale matters in private markets(19:00) Product strategy across venture, private equity and private credit(24:00) Building the firm, hiring philosophy and using AI internally(33:00) Venture strategy, vintage diversification and emerging managers(41:00) What Marktlink looks for in emerging venture managersFurther listening:E347: The $26B CIO Who Turned Superforecasting Into Alpha - How I Invest with David Weisburd

Demis Hassabis, Co-Founder and CEO of Google DeepMind, refused to leave London, challenged Google on AI safety and helped lead DeepMind back into the AI race.Sebastian Mallaby, author of The Infinity Machine and The Power Law, joins Andreas Munk Holm to discuss the founder psychology of Demis, the story behind DeepMind and why Europe may be entering a new era in technology.The conversation explores DeepMind's fundraising journey, the Google acquisition, the merger with Google Brain, AI safety, sovereign technology and why Demis remains sceptical of parts of Silicon Valley culture despite operating at the centre of it.Timestamps(00:00) Why Demis Hassabis matters(01:12) Why DeepMind could not raise from European VCs(07:35) The Peter Thiel chess story(11:00) What DeepMind reveals about European venture(14:42) Why Europe's tech ecosystem is accelerating(18:20) European sovereignty, defence tech and AI(21:20) DeepMind's sale to Google and tensions over AI safety(29:40) The founder psychology of Demis(41:35) Google's ChatGPT moment and Gemini's comeback(45:05) Demis' critique of Silicon Valley(50:45) Europe's AI sovereignty problem(54:05) Final thoughts and Sebastian's new bookSubscribe to EUVC, the home of European tech, for more insights.

Batteries do not just power products anymore. They shape what products can be built.In this episode, Andreas Munk Holm speaks with Michael Brehm and Mohamed Foulser from Redstone alongside Moritz H. Futscher, CEO and Co-Founder of BTRY, about why the next wave of battery innovation is not about bigger battery packs but entirely new form factors.BTRY is a Swiss battery startup developing an ultra-thin, foldable solid-state battery designed for IoT, medtech and consumer electronics. Founded in 2023 as an Empa and ETH Zürich spin-off, the company is building a new category of batteries aimed at enabling products that previously were not possible.The discussion covers Europe's industrial opportunity in batteries, the importance of scalable manufacturing, overlooked opportunities in embedded electronics and why the future of hardware may make batteries effectively disappear.Key highlightsWhy battery innovation is shifting from chemistry to product design and manufacturingHow BTRY is creating a new category of ultra-thin batteriesWhy scalability matters more than lab breakthroughs in deep techEurope's opportunity to build globally competitive battery companiesWhat embedded batteries could unlock across wearables, sensors and medtechTimestamps(00:00) Why batteries still limit innovation(04:10) The overlooked opportunity in sub-1Ah batteries(07:25) Rebuilding battery manufacturing from scratch(10:00) What foldable batteries could enable(14:00) Smart labels, sensors and embedded devices(18:00) Why scaling production is the real challenge(24:30) Can Europe compete in batteries?(34:00) The future of ultra-thin battery-powered productsSubscribe to EUVC, the home of European tech, for more insights.

What changes when AI agents can transact on their own?Andreas Munk Holm speaks with Viggo Stenseth, CEO and Co-Founder of SolvaPay, alongside Redstone General Partners Samuli Sirén and Mickaël Bellaïche, about building payment infrastructure for the agentic economy.The conversation explores agent-to-agent transactions, usage-based billing, protocol interoperability, regulatory moats and why existing payment rails may not be designed for AI-native commerce.Key highlightsWhy AI agents need payment infrastructure built for agentic commerceHow businesses can monetise APIs, datasets and digital services used by agentsWhy SolvaPay plugs into existing financial rails rather than bypassing themThe “battle of protocols” across agent marketplaces and ecosystemsWhy regulation, licensing and identity matter in agentic paymentsTimestamps(00:00) Why payments are blocking the agentic economy(02:00) What SolvaPay is building(05:10) Why customers already want agent-to-agent transactions(06:30) Existing financial rails versus crypto-native approaches(08:10) The “battle of protocols” and AI marketplaces(12:00) Redstone on why agentic payments are real(17:20) Why Redstone invested before traction existed(27:00) Can SolvaPay become the Stripe for AI agents?(32:00) Why incumbents may struggle to adapt(36:10) Building long term versus building for exit(41:00) Does the world need an agentic bank?Subscribe to EUVC, the home of European tech, for more insights: https://www.eu.vc/subscribe

Most corporates struggle to move fast enough for AI and robotics. Toyota's answer is corporate venture.In this episode, Andreas Munk Holm and Jeppe Høier speak with Ro Gupta, CEO and Managing Director of Woven Capital, Toyota's growth-stage venture fund focused on mobility, AI, automation and climate technology.They discuss how Toyota uses CVC to identify frontier technologies, work with startups and think decades ahead.Ro shares how Woven Capital functions as agile “speedboats” around Toyota's industrial “supertanker”, scanning for strategic opportunities across AI, robotics, mobility, manufacturing and infrastructure.HighlightsWhy Toyota invests through both “inside-out” and “outside-in” modelsHow Woven evaluates AI, robotics and the future of labourWhy strategic engagement matters more than passive investingHow Toyota balances long-term thinking with venture-speed executionWhy Europe is becoming increasingly important for Toyota's innovation strategyTimestamps(00:00) Ro Gupta's founder background and move into Toyota(04:00) Startup operators vs corporate insiders in CVC(10:00) Toyota's multi-fund venture strategy(15:00) The “supertanker and speedboats” framework(18:00) AI hype cycles and long-term industrial strategy(23:00) AI, robotics and advanced manufacturing themes(27:00) What Woven Capital looks for in startups(30:00) What founders expect from CVC investors(33:00) How Woven collaborates with traditional VCs(35:00) Europe's role in Toyota's future strategy(39:00) Toyota's next 100-year opportunity(44:00) The “build, move and connect” frameworkSubscribe to EUVC, the home of European tech, for more insights: https://www.eu.vc/subscribe

What actually gets a consumer company funded in Europe? Fewer things than most founders think.This is one of the questions the first episode of Consumer Tech Napkin explores, with Andreas Munk Holm joined by Sameer Singh (Partner with Speedinvest's Marketplaces and Consumer team), Susan Lin (Partner and Investor at Felix Capital) and Joe Seager-Dupuy (Director, Investment at True).The conversation covers engagement as the real leading indicator, why a decade of cheap capital let weak products hide behind paid acquisition, what behavioural signals actually move investors and why AI is not the defensibility play most founders assume it is.If you're building consumer, this one's worth your time.Key highlightsEngagement is the strongest signal in consumer software, not monetisationGrowth can hide weak businesses when retention and organic acquisition are missingAI alone is not a moat and thin wrappers are easy to replicateConsumer is underfunded in Europe despite producing many of its biggest outcomesBlitzscaling only works when companies already have defensibilityTimestamps(00:00)⁠ What actually gets a consumer company funded in Europe?⁠(02:40)⁠ Why AI is not a platform shift⁠(04:15)⁠ Thin AI wrappers and defensibility in consumer software⁠(07:30) AI-enabled consumer opportunities in health, therapy and financial services⁠(10:00)⁠ What investors actually look for in consumer startups⁠(11:20)⁠ Why engagement is the strongest signal that something is working⁠(15:10)⁠ Why behaviour matters more than surveys or narratives⁠(19:00)⁠ Why consumer remains underweight in European venture⁠(27:00)⁠ Marginal costs, pricing power and scalable business models⁠(34:30)⁠ Why blitzscaling only works when companies already have a moat⁠(39:00)⁠ Paid acquisition, defensibility and sustainable growth⁠(41:30)⁠ Felix Capital's consumer investing scorecardSubscribe to EUVC, the home of European tech, for more insights: https://www.eu.vc/subscribe

This week on This Week in European Tech, Mads Jensen of SuperSeed, Lomax Ward of Outsized Ventures and Andrew J Scott of 7percent Ventures discuss Arm's AI pivot, Spotify earnings and Anthropic's explosive growth. The conversation also covers the EU's clash with Meta, ASML's semiconductor moat, UK fusion ambitions and SAP's €1 billion acquisition of Prior Labs.Key highlightsWhy AI may be shifting demand back towards CPUsAnthropic's explosive growth, cloud spending and IPO speculationThe debate around AI safety, regulation and national securityASML's semiconductor dominance and China's AI workaroundsWhy energy infrastructure and industrial policy matter for AITimestamps(00:00) Intro and this week's themes(02:00) Arm and Spotify earnings reactions(05:00) Arm's shift from licensing to AI CPUs(09:00) Agentic AI and rising CPU demand(11:00) Anthropic growth, cloud spending and valuation speculation(16:00) Enterprise AI implementation and PE-backed AI services(23:00) AI safety, regulation and national security debates(31:00) The EU's clash with Meta over AI access in WhatsApp(39:00) ASML, semiconductor infrastructure and China's catch-up efforts(46:00) UK fusion ambitions and strategic industrial policy(55:00) SAP acquires Prior Labs for €1 billionSubscribe to EUVC, the home of European tech, for more insights: https://www.eu.vc/subscribe

Europe isn't a collection of isolated hubs. It's an interconnected system where talent, capital and industry come together to build deep tech.That's the perspective Julien Fredonie⁠, Program Lead for Europe and Africa at ⁠Honda Xcelerator Ventures⁠, shared on our latest episode hosted by Andreas Munk Holm and Jeppe Høier. They spoke about why Europe's deep tech moment is real, how the pipeline of founders is improving and why corporates are key to scaling hardware innovation.They also explore the rise of specialised investors and where CVCs still get team evaluation wrong.Key highlightsEurope's deep tech moment is structural, not hypeGlobal investors have shifted from doubt to active allocationFounder quality is rising through education and support systemsCVCs are critical to scaling deep tech companiesCVCs miss critical signals when evaluating deep tech teamsTimestamps(00:00) Europe as a deep tech “mesh”, not fragmented(04:00) Julien's role and investment scope at Honda Xcelerator Ventures(08:00) Why Europe's deep tech moment is happening now(12:00) Education strength and rise of deep tech founders(16:00) Team composition: diversity and complementarity(20:00) New generation of deep tech GPs and hardware expertise(26:00) The role of CVCs in scaling deep tech(34:00) Team blind spots and founder evolution over 10+ yearsSubscribe to EUVC, the home of European tech, for more insights: https://www.eu.vc/subscribe

AI demand is surging, but infrastructure is the constraint, with memory now the key bottleneck.In this episode of This Week in European Tech, Dan Bowyer and Mads Jensen of SuperSeed explore a range of topics such as AI constraints, Big Tech earnings, monetisation, geopolitics, Europe's position, and what capital flows into AI labs and SpaceX signal about what comes next.Key highlightsAI growth is constrained by memory and infrastructureMonetisation is accelerating as models use more tokens and cost moreAI is a geopolitical battleground, with control over talent and IPEurope shows momentum, but regulation could hold companies backPerformance gains are increasingly driven by application scaffoldingTimestamps(00:00) Introduction and opening headlines(04:20) Big Tech earnings, cloud growth and AI demand(07:30) Memory as the emerging AI bottleneck(11:40) Frontier labs, Musk vs Altman and Manus(14:00) US–China dynamics and export controls(17:10) Ineffable, Recursive and Europe's AI push(20:00) Frontier model releases and AI monetisation(25:00) SpaceX IPO, valuation and space compute(30:00) EU AI Act and UK AI strategy(34:30) Energy and infrastructure constraints(41:00) Predictions and deals of the weekSubscribe to EUVC, the home of European tech, for more insights: https://www.eu.vc/subscribe

AI is impressive, but not yet world-changing. The real shift comes next with quantum computing.In this EUVC episode, ⁠Andreas Munk Holm⁠ speaks with ⁠Andy Leaver⁠, CEO of ⁠Arqit⁠ and Operating Partner at ⁠Notion Capital⁠. They discuss why many European startups struggle to scale beyond €10 million to €30 million, why enterprise AI adoption remains experimental rather than immediate, and how quantum computing is set to redefine security and infrastructure. The conversation also covers data sovereignty and the growing risk of “harvest now, decrypt later”.Key highlightsMost startups fail scaling from €10M to €30MAI is impressive, but not yet world-changingEnterprises are slow to adopt AI despite the hypeQuantum could break current encryptionThe real breakthrough is AI + quantum combinedTimestamps(00:00) Intro and Andy Leaver's background(05:30) Scaling lessons and the €10M to €30M challenge(08:45) AI and SaaS: are the rules really changing?(11:30) Enterprise AI adoption and experimental phase(14:00) Shadow AI and enterprise risk(17:00) Security, data sovereignty, and quantum threats(26:30) AI today vs AI + quantum future(35:30) Investing in quantum and the one-person billion-dollar company ideaSubscribe to EUVC, the home of European tech, for more insights: ⁠⁠https://www.eu.vc/subscribe⁠

Models are converging. Chinese open source models are catching up. Applications are becoming the moat.In this episode of This Week in European Tech, Dan Bowyer and Mads Jensen of SuperSeed examine the shifts shaping AI, markets and Europe's role.From DeepSeek's progress to the EU AI Act, the focus is on where the real competitive edge is forming, alongside cyber incidents, the race between frontier labs, and why coding is central to how AI systems improve and are used, before closing on pressure in private credit and what it could mean for SaaS.Key highlightsChinese open-source AI is rapidly closing the gap with US leadersThe EU is considering revisions to its AI Act, including scope and timeline changesCyber incidents reveal systemic data management failuresFrontier labs are moving up the stack into applications, with coding central to progressPrivate credit exposure to SaaS could lead to repricingTimestamps(00:00) Intro and overview of key topics(05:45) DeepSeek V4 and model competition(11:30) EU AI Act discussions(16:45) Cyber breaches and data governance issues(21:30) Digital ID systems and Estonia's model(26:30) Sergey Brin, DeepMind and AI coding race(32:00) SpaceX, Cursor and AI distribution strategy(39:30) Private credit, space sovereignty, predictions and week aheadSubscribe to EUVC, the home of European tech, for more insights: ⁠https://www.eu.vc/subscribe

In climate hardware, the capital stack shapes everything. This is according to Jarna Hyvönen, Co-Founder and CEO of Volare.She joins Andreas Munk Holm and co-host Carmel Rafaeli, Founding Partner at The Table, in this episode of Leaders Shaping a Resilient Planet to break down what it takes to finance and scale industrial climate companies.Volare is building a circular platform using black soldier flies to turn food industry side streams into protein, oils and fertilisers. Jarna explains how they structured a mix of equity, debt, mezzanine and grants to fund their first industrial facility, and what it takes to align these instruments in practice.Key topicsMulti-instrument funding from day oneInterdependent capital and fundraising complexityThe importance of early financial capabilityDe-risking through proven systemsWhen unit economics become visible at scaleTimestamps(00:00) Climate tech funding gap(03:00) From research to industrial scale(06:00) Inside the mixed capital stack(10:00) Interdependent financing(14:00) Financial strategy and CFO role(18:00) De-risking and innovation(22:00) Market shift to viability(26:00) Scaling and unit economicsSubscribe to EUVC, the home of European tech, for more insights: https://www.eu.vc/subscribe

Anthropic is moving beyond models and into building full products.In this episode of This Week in European Tech, Dan Bowyer and Mads Jensen from SuperSeed cover the key forces shaping European tech right now, from political shifts and capital flows to AI competition, small high-output teams and rising compute demand.Key HighlightsHungary's leadership change and potential EU funding unlocksAnthropic expanding beyond models into product and applicationsMythos vs GPT Cyber and what different benchmarks actually measureThe rise of very small teams building large businesses with AICompute demand continuing to accelerate across the marketTimestamps(00:00) Intro(01:00) Hungary and EU implications(08:30) Anthropic strategy shift(13:30) AI model comparison(20:30) Small teams and AI businesses(26:30) Compute scarcity(31:30) Musk's Terafab(36:30) Predictions, deals, closingSubscribe to EUVC, the home of European tech: https://www.eu.vc/subscribe

Deep tech is not about complexity. It is about compounding R&D that builds defensibility and demands a different approach to investing. This is the lens Sasha Vidiborskiy, Partner at Atomico, applies to backing frontier technologies.In this episode, Andreas Munk Holm speaks with Sasha, a quantum physicist turned VC investing in complex products and deep tech.They explore what defines deep tech, how to assess founders, and how Atomico underwrites and invests in technically complex companies, from diligence to timelines and risk.Key highlightsWhy deep tech is driven by compounding R&D, not complexityWhy timelines are hard to predict, especially in areas like quantum computingWhat sets great deep tech founders apartHow Atomico evaluates and underwrites deep tech opportunitiesWhy Europe is gaining ground in deep techWhy deep tech requires a different investment approachTimestamps(00:00) Intro & Sasha's background(03:00) From quantum physics to venture capital(07:30) Quantum computing timelines(12:00) What defines deep tech(18:30) Founder traits(26:00) Evaluating deep tech investments(34:00) Atomico's investment framework(42:00) Europe's deep tech momentSubscribe to eu.vc, the home of European tech, covering the people, capital, and companies building Europe: https://www.eu.vc/subscribe

Why do most corporate venture arms fail within four years, and what are the three principles that make them last?In this episode, Andreas Munk Holm and Jeppe Høier speak with Oliver Schmäschke, Managing Partner at T.Capital, the €2.3 billion investment arm of Deutsche Telekom.Oliver shares practical insights on what actually works in corporate venture capital, built around three core principles that shape how corporates invest, operate and create long-term impact.Key highlightsStrategic vs financial investingAccess and value creation as competitive edgeGovernance and decision-making speedWhy most CVCs failHiring and retaining top talentTimestamps(00:00) Introduction and guest background(02:00) Oliver's journey and T.Capital overview(04:00) Strategic vs financial investing(07:00) Core principles of CVC(12:00) Talent and hiring in CVC(16:00) Corporate edge vs traditional VCs(23:00) Structuring a CVC and value creation(29:00) State of CVC in Europe and closingFor more European VC thought leadership, visit our website. Learn more about T.Capital here.

Anthropic has overtaken OpenAI in revenue and Europe is emerging as a key AI battleground.In this episode of This Week in European Tech, Dan Bowyer (SuperSeed) and Lomax Ward (Outsized Ventures) break down a week shaped by AI momentum, capital concentration and macro uncertainty. They cover Anthropic's rise, its enterprise focus and latest model, and whether current growth can justify the scale of AI investment.They also explore the coming wave of mega IPOs and what it means for liquidity, alongside JPMorgan CEO Jamie Dimon's shareholder letter on inflation, interest rates and private credit. The episode closes with climate investing's shift towards energy security and the move to faster, software-led defence systems.Key topicsAnthropic vs OpenAI: revenue growth, enterprise dominance and Europe expansionMega IPO wave: SpaceX, OpenAI, Anthropic and capital market strainJamie Dimon's warning: inflation, rates and private credit risksClimate investing shift: from ESG to energy security and resilienceDefence transformation: from legacy procurement to agile, software-led warfareTimestamps(00:00) Intro and macro setup(05:00) Anthropic growth, Mythos and AI competition(12:30) Positioning, ethics and enterprise adoption in AI(22:00) Jamie Dimon letter: inflation and private credit(29:00) IPO pipeline and capital constraints(36:00) Climate and energy security shift(42:00) Germany defence spend and modern warfare(46:30) OpenAI moves, predictions and deals

Has crypto quietly crossed the line from hype to real financial infrastructure?Tune into this episode of the EUVC podcast, hosted by Andreas Munk Holm, as he is joined by Simone Maini, CEO of Elliptic, and Jay Wilson, Partner at AlbionVC, to unpack crypto's next phase.They break down the shift from uncertainty to quantifiable risk, how institutions assess on-chain transactions and why supporting infrastructure is now critical to the venture case, alongside stablecoins and global regulatory momentum.Key highlights:The shift from uncertainty to quantifiable riskHow institutions assess risk in on-chain transactionsWhy infrastructure is critical to the venture caseStablecoins enabling faster, cheaper global paymentsRegulatory clarity across Europe, the US, Singapore and the UAETimestamps:(00:00) Crypto meets traditional finance(01:00) What Elliptic does in digital assets(02:00) The venture case for crypto(04:00) Where global crypto activity is shifting(07:00) Regulation, risk and market maturity(10:00) Europe, MiCA and the race to lead(18:00) Founder–investor dynamics in volatile markets(33:00) Stablecoins and the future of payments(37:00) AI, agentic transactions and what's next(42:00) Final thoughts on crypto's second actExplore more on European tech thought leadership at: https://eu.vc

We can't reach 1.5°C with emissions cuts alone. Carbon removal must scale alongside decarbonisation.In this episode, Andreas and co-host Carmel Rafaeli, Founding Partner at The Table, sit down with Henrietta Moon, Founder & CEO of Carboculture to unpack what it actually takes to build carbon removal infrastructure.Carbo Culture is scaling biochar into industrial systems that lock carbon away for centuries — while generating revenue across agriculture, energy, and materials.We cover:• How biochar works and why it's scalable• Why carbon removal alone isn't a business• The shift to regulated carbon markets• Financing capital-intensive climate infrastructure• Scaling from innovation to repetitionTimestamps:(00:00) Intro & funding gap(02:00) Biochar explained(03:00) EU regulation(05:00) Business model(08:00) Revenue strategy(17:00) Offtake & demand(22:00) Project finance(36:00) Founder journey

Europe wants to lead in AI, defence, and infrastructure. The question is whether it can actually execute.In this episode of Upside, Dan Bowyer (SuperSeed) and Lomax Ward (Outsized Ventures), joined by Andrew J Scott (7percent Ventures), unpack a week where ambition and reality are starting to diverge.Mistral raises $830M to build sovereign AI infrastructure. Poolside's $2B round collapses after losing compute access. And UK defence tech founders are leaving—not for lack of ideas, but for lack of contracts.Across all of this, one pattern emerges:Europe isn't short on capability. It's short on systems that work.Key topics:Why Europe's capital problem starts earlier than growthMistral's infrastructure bet and what it signalsPoolside, CoreWeave, and the fragility of compute accessThe UK defence tech bottleneck: funding vs procurementPalantir, trust, and the case for sovereign softwareIf you're building in AI, defence, or deep tech, this is where the constraints actually are.Timestamps00:00 Intro and the week's themes03:00 News roundup: space, IPOs and market signals08:00 Mistral's $830M raise and sovereign AI infrastructure15:00 Poolside, CoreWeave and compute dependency risk23:00 Palantir, the NHS and the trust gap31:00 UK defence tech and founder flight40:00 Procurement vs capital: where companies stall42:00 Predictions: local AI vs hyperscalers50:00 Deals of the week

For decades, Europe built around efficiency — global supply chains, outsourced infrastructure, and distributed value creation. That model is now breaking down.In this episode, Cameron McLain (Co-Founder & Managing Partner at Giant Ventures) argues that the next era isn't about startups — it's about control.Who owns the infrastructure determines who captures the value.We discuss why venture is moving from convenience to systems, why “purpose-driven founders” outperform, and what it actually means to build a European stack across energy, manufacturing, and financial rails.Timestamps00:00 – Introduction: From impact to sovereignty02:00 – Why purpose-driven founders build enduring companies05:00 – Giant Ventures and the transatlantic perspective07:30 – The shift from efficiency to resilience10:00 – Why infrastructure is the new venture frontier12:00 – What the “European stack” actually means15:00 – Can Europe compete with hyperscalers?18:00 – The role of government: builder vs buyer23:00 – Why energy, manufacturing, and financial rails matter30:00 – AI, labour disruption, and the future of work34:00 – Europe's biggest bottleneck: exits and capital markets

Most corporate venture capital models were built for a world that no longer exists.They were designed for software cycles and optional innovation. Today, venture is shaped by deep tech, supply chains and industrial scale.In this EU CVC episode, Jessica Persson (Scania) joins our hosts Jeppe Høier and Andreas Munk Holm (EUVC Corporate) to explain why corporate venture must evolve from a side activity into a core strategic capability.Scania's approach reframes venture entirely: not as access to startups, but as a way to position the company inside a changing system.In this episode:00:00 Why most CVC models are outdated04:30 From outsourced to embedded venture12:10 Deep tech changes everything20:45 The cap table as a system28:30 Strategic returns = financial returns35:00 Preparing for multiple futures

Welcome back to Upside, where Dan Bowyer of SuperSeed and Lomax Ward of Outsized Ventures, joined by Harry Destecroix, MBE, of SCVC unpack the forces shaping European venture, deep tech and capital.This week's conversation reflects a system shifting: Europe is writing bigger checks, physical AI is moving into focus, and the economics of AI are starting to change.The question is no longer where innovation happens.It is where value accrues.The stack isn't just scaling. It is being contested.What's covered:00:00 Intro and the week's themes02:00 Europe's €15B fund-of-funds and the capital gap08:00 Seed vs growth: where Europe is actually underfunded14:00 Bezos' $100B physical AI strategy20:00 Roll-ups vs rebuilds in the industrial economy25:00 China's token model and the cost collapse of AI31:00 Security, sovereignty and model choice36:00 Innovate UK and founder-led policy41:00 Capex vs revenue: the emerging imbalance47:00 Predictions and market direction52:00 Deals of the week

Comms isn't PR anymore. It's becoming infrastructure and most founders haven't caught up.In this episode, Cathy White (Founder, CEW Communications) joins our co-founder David Cruz e Silva to break down how the media landscape is changing—and what founders are still getting wrong.From the collapse of traditional gatekeepers to the rise of creators, newsletters, and AI-driven discovery, credibility today is no longer built through one big headline. It's earned through consistent visibility, clear storytelling, and strong founder presence.They also unpack a key gap in European tech: we're great at building, but often poor at explaining.Key topics:Why the “one big media hit” no longer worksComms as infrastructure, not a luxuryHow AI is reshaping discoveryWhy storytelling is a competitive advantageHow founders can build distributionTimestamps:00:00 – Intro & why comms = infrastructure 03:00 – Why most AI storytelling is boring 07:00 – The end of media gatekeepers 09:00 – The myth of the “one big hit” 10:00 – Substack vs traditional media 12:00 – Europe vs US media dynamics 16:00 – How journalists actually work today 21:00 – How founders should build visibility 26:00 – Is media biased? (spicy take) 32:00 – AI, search & your company narrative 39:00 – What founders get wrong about comms 42:00 – Final takeaways: Europe's storytelling gap

Most people think their options are simple: climb the corporate ladder or start something from scratch.But there's a third way.Together with Will Maunder-Taylor, we're excited to bring Unsung to life — a podcast exploring one of the most important (and overlooked) opportunities in Europe today: entrepreneurship through acquisition.Instead of starting from zero, what if you could buy and grow a small business that already works?In the first episode, Will sits down with Peppa Wise, sales leader at Multiverse, to unpack what actually drives performance — in startups, scaleups, and the kinds of businesses most people overlook.This episode goes deep on:Why talent and drive often beat experienceHow the best companies build true meritocraciesWhat separates high performers from everyone elseWhy sales is one of the fastest ways to change your trajectoryHow to hire, develop, and scale great teamsPeppa's story — from leading teams in her early 20s to helping scale one of Europe's top sales organisations — shows what happens when companies bet on potential, not just CVs.Whether you're building a startup, thinking about buying a business, or just questioning your path — this episode gives you a practical lens on what actually matters.Follow Unsung for more stories on building through acquisition.Timestamps(00:00) Introduction to Unsung and the guest(03:00) Peppa Wise's early career & Darktrace(05:00) Talent vs experience(15:00) Hiring frameworks & what actually matters(25:00) Building high-performance sales teams(35:00) Pipeline, metrics & operating cadence(45:00) Advice for founders and early-career operators