EUVC

At the EUVC Summit 2025, Andreas Klinger didn't mince words.Europe lacks something every other industry has had for decades:→ Big spending→ Big infrastructure→ Big exitsAnd without them, we can't pretend we're building a sovereign innovation ecosystem.“Europe needs tech innovation to work—because without it, we will never be fully sovereign.”Andreas opened by flipping a common narrative:“Startups are too often framed as small, creative, ambitious companies. But in reality—they're the foundation of sovereignty in tech.”Europe doesn't need more “projects.”It needs repeatable, scalable, founder-first infrastructure to unlock its next wave of global tech companies.“The easiest way to explain EO Inc? It's Deliveroo—but for incorporation. A European legal and operational standard for startups.”The idea is deceptively simple:Standardized formationRecognized structures across all member statesSeamless stock option systemsTaxation only at exitBank acceptance by default“This isn't just for startups. It's a company structure any business can use—built for the modern economy.”And the movement? It's already here:16,000+ signatoriesBacking from founders of Wise, Bold, and countless unicornsSupport from every major VC fund and ecosystem body in EuropeGrowing traction in BrusselsThis wasn't launched by a ministry.It wasn't cooked up by consultants.“EO Inc was built by founders, VCs, and ecosystem people who literally just got together in a WhatsApp group.”The message is clear:You don't need permission. You need momentum.Andreas ended on a blunt but vital point:“If one of my founders did an IPO in Europe right now—I'd sue them.”Why? Because there's no pan-European IPO framework. No deep exit market. And without exits, VC doesn't work.“So please. Someone. Anyone. Get together and fix this.”He wasn't joking.He was inviting.Andreas closed with the same clarity he opened with:“You can just do things.”This wasn't a stage for platitudes—it was a platform for action.So if you know a policymaker, a president, a minister—connect them to EO Inc.And if you care about making European venture work—get involved.Thanks, Andreas—for reminding us that sovereignty isn't just about borders. It's about infrastructure.Let's build it.Startups Aren't Small. They're Strategic.Introducing EO Inc: Europe's Standard Startup InfrastructureFounders Did This. In a WhatsApp Group.The Missing Piece: IPOs in EuropeFinal Words: Just Do Things

At EUVC Summit 2025, Reece Chowdhry from Concept Ventures made a bold claim:Pre-seed isn't just a quirky corner of venture. It's the layer that will define the future of European tech.“Pre-everything. Backing crazy people. No product. No traction. Just vision.”And if that makes your IC uncomfortable? Good.Reece laid it out clearly:No productOften no teamUp to €3M raisesEntry valuations where true upside is unlockedThis is not a place for 60-page memos. It's a place for conviction, operating instincts, and guts.“If you're running a market-sizing exercise at pre-seed, you've already missed the point.”With a wink, Reece shared some hard truths:“Sorry to our French and German friends—but the UK is trouncing you.”From unicorn creation to capital deployed to founder density, London continues to pull ahead.Backed by data (and a few cheeky slides), he reinforced that high-density talent hubs are gravity wells—and London's orbit is strong.Reece didn't sugarcoat it:“Pre-seed is also about luck. Let's just say it.”And that's why portfolio construction matters.→ Too many GPs still run over-concentrated portfolios at pre-seed.→ The layer needs larger portfolios, faster deployment, and more acceptance of variance.“You want your winners to carry the fund? You better give yourself enough shots.”One of the most striking trends?“Founders can now go straight from pre-seed to Series A.”Why?AI tools let solo operators do more with lessMVPs are faster, GTMs are leanerSeed rounds are getting compressed—and sometimes skipped entirelyThis means pre-seed is becoming a more critical entry point than ever, and if Europe wants to compete, we need more risk-on LPs and ICs willing to lean into the earliest bets.“If you're in an IC meeting with a 60-page memo for a pre-seed deal, please… just remember this talk.”Pre-seed is where the crazy ideas live. It's where the upside is wild. It's where founders take real swings—and where GPs must be brave enough to back them.“We need more European GPs to take more risk, earlier.”Thank you Reece for the reminder: you don't de-risk the future by waiting—you do it by backing the people building it.No product? No problem. Just conviction.Defining Pre-Seed: Where the Real Risk LivesThe UK Is (Still) Leading—Sorry, Everyone ElsePre-Seed is High Risk, High Volume—and High RewardThe AI Effect: Shrinking the StackFinal Advice? Just Write the Damn Check.

Welcome back to another episode of the EUVC Podcast, where we gather Europe's venture family to share the stories, insights, and lessons that drive our ecosystem forward.Today we welcome Alex Bakir, General Partner at Norrsken Evolve, the new €57M pre-seed fund spun out of the legendary Norrsken family of funds. Together with Johan Attby and Rebecka Löthman Rydå, Alex is doubling down on impact-driven founders building Europe's resilient and sustainable future—with backing from EIF, Saminvest, SmartCap, and operators like Taavet Hinrikus and Sten Tamkivi of Plural.We dive into Alex's journey - with family roots in Iraq and England to Cambridge, the World Bank, Climate Change Capital, and Planet Labs; his lessons from the clean-tech crash of 2008; why resilience is now the lens for Europe's industrial strategy; and how Norrsken Evolve is rethinking fund construction with 80 portfolio companies, automated follow-ons, and a sprint model for founder collaboration.Here's what's covered:01:38 Alex's path: Iraqi–English upbringing, Cambridge climate science, World Bank, first-wave cleantech VC04:30 Lessons from the cleantech crash ('08): macro can kill even great theses07:19 Why this time is different: realism, supply chains, energy security10:31 Fundraising the hard way: €40M → €57M; satellites vs. raising a fund12:36 Mistakes & pivots: from naive global to Europe-first resilience15:50 LP profiling: local anchors + institutional validation (Saminvest, EIF)19:00 The trough of despair & team completion with Rebecka Löthman Rydå22:11 The “funky” model: 80 companies, €250K tickets, no boards, automated follow-ons26:06 Sprint model: six-week in-person collaboration (not a school)31:22 Investment focus: The carbon-free economy, the infrastructure of tomorrow, future of Europe40:57 Founder fit: mission-driven, experienced builders with scars and purpose

Welcome back to another episode of the EUVC Podcast, where we gather Europe's venture family to share the stories, insights, and lessons that drive our ecosystem forward.Today we welcome Olav Ostin, Founder & Managing Partner at TempoCap, one of Europe's few dedicated secondary direct firms. With a nine-year track record, a 12-person team in London and Berlin (soon Paris), and multiple $500M+ exits, Olav is perfectly placed to explain why secondaries have gone from taboo to the hottest corner of venture.From buying whole portfolios from corporates to cherry-picking strip deals with VCs under LP pressure, TempoCap has built a reputation for navigating complex transactions and delivering liquidity in a market starved of exits. In this conversation, Olav shares what makes secondary directs different, how pricing really works, and why “who isn't selling?” is the right question in today's market.

At EUVC Summit 2025, Marius Istrate didn't come to pitch a fund or debate capital structures.He came to talk about something harder to define—but more urgent than ever: inspirational European leadership.And it wasn't all comfortable.“It's great to win together with others. But we should be capable of winning alone if needed.”Marius spoke as someone who's helped shape ecosystems from the ground up. As the leader of Romania's largest angel group, he's seen firsthand what local ambition looks like—and what it lacks.“I don't want to be the VC who accidentally becomes a politician because no one else stepped up.”But leadership, he argued, isn't about power. It's about clarity, empathy, and ownership.“If you pinned every place in Europe that calls itself the ‘Silicon Valley of Europe,' the map would collapse.”The obsession with copying Silicon Valley is a distraction. What Europe needs isn't mimicry—it's confidence in its own identity. And that means policies, capital structures, and culture that reflect our values, not someone else's blueprint.One of the most poignant parts of Marius' talk centered on something distinctly European:“It's not fair that I should work more than my parents. It's not fair that my retirement is uncertain.”That sense of fairness—a shared European moral compass—isn't a bug. It's a feature.And it can inform the kind of political and ecosystem leadership we need now.“People don't want perfection. They want dignity. And when possible, empathy.”In a time of rising populism and political gridlock, this felt like a quiet manifesto for something different.“It shouldn't be our job to inspire people—because our political leaders should already be doing that.”Marius wasn't calling for VCs to become politicians. He was calling for a renaissance of purpose in Europe. For a generation of builders, thinkers, and yes, investors, to step up and fill the vacuum—not with slogans, but with systems, strategy, and soul.“Give us something to hope for—something we can call our own.”This wasn't a policy talk. It was a wake-up call.And in classic EUVC fashion, it ended with an open invitation: Let's talk more. Let's build better. Let's define what European leadership really means—together.From VC to VisionSilicon Valley of Europe? Please.Fairness, Dignity, EmpathyA Call to Build What's Ours

Welcome back to another episode of Upside at the EUVC Podcast, where Dan Bowyer, Mads Jensen of SuperSeed, Andrew J Scott of 7percent Ventures, and Lomax unpack the forces shaping European venture capital.This week, veteran journalist Mike Butcher (ex-TechCrunch Europe, The Europas, TechFugees) joins the pod. From the creator economy eating media brands, to Europe's fragmented ecosystem and the capital gap that just won't die, we dive into EU-Inc, Draghi's unfulfilled reforms, ASML's surprise bet on Mistral, Europe's defense awakening, Klarna's IPO, and quantum's hot streak.Here's what's covered:00:01 – Mike's ResetTechCrunch Europe closes; Mike reflects on redundancy, summer off, dabbling in social and video.03:00 – Media Evolution & Creator EconomyFrom '90s trade mags → TechCrunch → The Europas & TechFugees. Blogs as early social media; today's creators (MrBeast, Bari Weiss, Cleo Abram) echo that era. Bloomberg pushes reporters front and center as media becomes personality-driven.06:45 – Europe's Ecosystem & Debate CultureEurope isn't Silicon Valley's 101 highway — it's dozens of fragmented hubs. Conferences like Slush, Web Summit, VivaTech anchor the scene, but the missing ingredient is debate. US VCs spar on stage then grab a beer; Europe is still too polite.12:00 – All-In Summit DebriefMads' takeaways from LA: Musk on robotics (the “hand” bottleneck), Demis Hassabis on AGI (5–10 yrs away), Eric Schmidt on US–China AI race, Alex Karp on Europe's regulatory failures. The Valley vibe captured, but it's only one voice.17:00 – EU-Inc & Draghi ReportDraghi's 383 recommendations, just 11% implemented. €16T in pensions sit mostly in bonds; only 0.02–0.03% flows into VC (vs 1–2% in the US). Permitting bottlenecks: 44 months for energy approvals. Panel calls for a Brussels “crack unit,” employee stock option reform, and fixing skilled migration.35:00 – Deal of the Week: ASML × MistralASML leads a €2B round in Mistral at €11B valuation. Strategic and cultural fit (Netherlands ↔ Paris) mattered more than sovereignty. Mads: 14× revenue is a bargain vs US peers. Andrew: proof Europe's VCs are too small — corporates must fill the gap. Lomax: ASML knows it's a one-trick pony with 90% lithography share; diversifying into AI hedges risk.49:00 – Defense & Industrial BaseRussian drones hit Poland, NATO urgency spikes. UK pledges defense spend to 2.5% GDP by 2027, but procurement bottlenecks persist. Poland cuts red tape under fire; UK moves at peacetime pace. Andrew: real deterrence is industrial capacity. Mike: primes must be forced to buy from startups; dual-use innovators like Helsing show the way.59:00 – Klarna IPO & the Klarna MafiaKlarna IPOs at $15B (down from $46B peak). Oversubscribed; Sequoia nets ~$3.5B; Atomico 12M → 150M. A new “Klarna Mafia” of angels and operators will recycle liquidity back into Europe's ecosystem.01:03:00 – Quantum's Hot StreakPsiQuantum ($7B, Bristol roots), Quantinuum ($10B, Cambridge), IQM (Finland unicorn), Oxford Ionics' $1B exit. Europe has parity in talent but lacks growth capital. Lomax: “Quantum is hot, but a winter will come.” Andrew: Europe can win here — if the money shows up.01:05:00 – Wrap-upThe pod ends on optimism: Europe may not own AGI, but in quantum it has a fair fight.

At EUVC Summit 2025, one of the most animated sessions wasn't about regulation or returns—it was about size.Fund size.“You need to back small, early, and smart.”— ChloéWhile some claimed that fund size isn't predictive of returns, this panel pushed back with a powerful rebuttal: in early-stage venture, size absolutely matters—and skin in the game matters even more.Chloé laid out the logic:The earlier you invest, the lower the probability of hitting a mega outcomeBut the smaller your fund, the greater your exposure to uncapped upside“No one thought a $100M fund was too large in the early 2000s. But back then, a $1B exit was 99th percentile. Today? That's just 85th. A $20B exit is the new 99th percentile.”In short: outcomes have scaled dramatically—but fund sizes have ballooned even faster.If you want real multiples, you can't rely on average returns. You need asymmetric upside.“Average venture-backed exit valuation? Still around $100M.”That stat alone makes a strong case for micro-funds.→ A $5B mega fund might get you into elite cap tables—but you're unlikely to 10x→ A $30–50M fund? One breakout and you're a rocketshipAnd the panel made it clear: LPs chasing “safe” strategies may be missing the real alpha generators.The panel also poked fun at outdated VC modeling tools:“Can we finally stop using the Page & Associates PDF?”(Amen.)This wasn't just a critique of stale math—it was a call for more creative, conviction-led underwriting in a world where category winners look radically different than they did two decades ago.“We're not looking for averagely good returns. We're backing for uncapped upside.”That's the ethos driving many LPs toward emerging managers and micro funds.Not to mention the sense of alignment, focus, and nimbleness that often fades in billion-dollar vehicles.This panel had heat—and it wasn't done.“Happy to do this again. On a podcast. Longer. Louder.”Count us in.The Case for Small Funds: Math, Mindset, and MultiplesThe Uncomfortable Truth: Most VC Exits Are Still SmallPage & Associates: Retire the TemplateFund Size Isn't Just Capital—It's PhilosophyComing Soon… A Podcast Debate?

At EUVC Summit 2025, one speaker opened with an unexpected challenge:“Let's stop munching grass like a herd of sheep—and start looking toward the horizon.”What followed was a deeply tactical session on how VCs and founders can recruit, test, and develop top-tier talent, with lessons drawn from—of all places—English football and cybersecurity unicorns.Will Maunder-Taylor shared the story of Leicester City FC, one of the most improbable sporting triumphs of modern times.In 2008, they were relegated to the UK's third divisionIn 2010, bought by new ownersIn 2011, hired Steve Walsh as head of recruitmentBy 2016, against 5,000-to-1 odds, they won the Premier LeagueHow? By focusing on:Mindset over CVData over brandTeam chemistry over big-name signingsThey built an entire team for £25M—less than what a competitor paid for one player.“They believed in talent and mindset over character. And they trained accordingly.”Once founders have the confidence to hire ambitiously, the next question becomes: How?The speaker offered a practical framework:Be brutally honest in interviews – Share real concerns and observe how candidates respond. Can they absorb and reflect?Create structured feedback loops – Let people improve in real time, not post-mortem.Test behavior, not polish – Past brand names don't predict future startup grit.Build in weekly accountability – The only difference in the top-performing teams? They check in—regularly, honestly, and constructively.“If you're a VC or board member and you're not instilling weekly accountability in your portfolio, you're missing the biggest lever.”Will Maunder-Taylor called on VCs to get tactical—not just strategic:Ask founders how they're hiringWho's mentoring the team?What KPIs exist for internal talent development?How is feedback being delivered?Because talent isn't just about who you hire—it's how you coach, test, and level them up.Let's give founders the confidence to stop hiring like sheep—and start winning like Leicester.Accountability, mindset, and trust in the process win out over pedigree, every time.From Pub Pitches to Premier League: The Leicester City BlueprintWhat This Means for FoundersVC's Role: Push for Accountability, Not Just Hiring

In this episode, Andreas Munk Holm speaks with Dom Hallas, Executive Director of the UK's Startup Coalition, to explore how the organization is influencing policy at the intersection of startups, venture capital, and government. From immigration reform to capital access and regulatory red tape, Dom brings a candid view on what it takes to create real impact for founders across Europe.They dive into the power of founder-first advocacy, the evolving lobbying landscape in Europe, and the urgent need for a united tech voice across the continent.Here's what's covered:01:10 Why Policy is a Competitive Sport03:42 GDPR, Brussels & Lessons from Tech Regulation05:12 What is the Startup Coalition & Who Funds It?07:13 The Three Buckets: Talent, Capital, Regulation11:20 Why Founders Need Their Own Voice in Politics16:31 Making Advocacy Fun, Human & Effective17:56 What Startups Can Learn from Farmers21:30 Time Horizons & Playbooks in Policy Work26:18 How the Coalition Sets its Agenda31:46 A Crossroads for European Tech35:46 The Current Policy Agenda: Talent, Finance & Reg43:27 Funding the Underfunded: Inclusion as Policy47:01 Regulation That Clears the Way for the Next Thing

At the EUVC Summit 2025, the Firm of the Year award didn't go to a household name—or a partner of the presenter. It went to a firm that's quietly built one of the most impactful portfolios in European venture over the past decade:Credo Ventures – winner of this year's Firm of the Year Award.And the irony? They didn't see it coming.“I never really liked awards like this… but maybe I'm ready to reconsider.”Credo Ventures' rise hasn't always been center stage. Based in Central and Eastern Europe, they've long bet on founders and ecosystems that many in mainstream venture overlooked.But the results speak for themselves—category-defining companies, global expansion stories, and a consistent track record of backing ambitious founders early.“Maybe having such an award can be a new KPI for us—right next to DPI.”The Credo team kept the moment light, thanking not just their founders and LPs—but even the investors who didn't back them.“Thank you, Thomas, for not investing in us. Maybe that pushed us forward even more.”This self-awareness is part of what's made Credo so beloved in the ecosystem: no arrogance, no buzzwords—just clear conviction, strong founder relationships, and outcomes that speak louder than headlines.This award wasn't just about Credo—it was a signal to every fund building off the beaten path:That it's possible to build world-class performance from anywhereThat recognition follows consistencyAnd that humility and humor are strengths, not liabilities“The real credit goes to the founders we've backed. Their success is why we're here today.”Congratulations to Credo Ventures—EUVC Firm of the Year 2025.May DPI stay high, and KPIs stay fun.Building Beyond the SpotlightA Touch of Humility. A Lot of Performance.A Win for the Underdogs

At the EUVC Summit 2025, Tom Wilson took the stage to highlight something we often overlook when talking about Europe's breakout tech stories:“The real engine of growth isn't just the unicorns. It's what happens after.”Tom opened with a striking stat:“Over 2,000 startups have been founded by alumni of just 250 European unicorns.”This ripple effect—beautifully documented in the Atomico State of European Tech report—is the unsung compounding force in our ecosystem. Each breakout company doesn't just create returns—it creates founders. And each founder then builds the next set of teams, products, and outcomes.“Tech is right at the heart of Europe's growth story. It's what drives jobs, resilience, and momentum.”While the flywheel is turning, one spoke is still weak: liquidity.“The recycling of capital is still too thin across the ecosystem.”Without steady exits—IPOs, large acquisitions, secondary markets—we limit:Angel reinvestmentEmerging manager formationOperator talent flowing back into early-stage companiesTom called for more policy, infrastructure, and cultural support to celebrate exits—not just fundraises—and to empower alumni to give back as investors, advisors, or future founders.Tom also made a powerful point about non-linear outcomes.“Not every startup becomes a unicorn. But the people who build them still carry value—and often show up in the next big story.”He cited examples of founders who, after shutdowns, joined early teams at Revoo, Vizier, and other category leaders—and played crucial roles in their success.This isn't just resilience. It's how ecosystems mature.“We need to do more to recognize and encourage the second act: the angels, the early hires, the operators who cycle back in.”Because Europe's breakout companies aren't just wins.They're launchpads for the next generation.And every reinvested euro—and recycled founder—keeps the flywheel spinning faster.2,000 Startups Later: The Alumni EffectWhat's Still Missing? Liquidity.Failures That Feed the FutureFinal Message: Celebrate the Cycle

In this episode, Andreas Munk Holm and Jeppe Høier sit down with Paul Morgenthaler, Partner at CommerzVentures, to unpack the inner workings of a single-LP CVC and how strategic structure can drive long-term VC success. Paul shares insights from over a decade of fintech investing, offering a rare look into how one of Europe's leading corporate venture arms thinks about climate, compliance, and the coming wave of agentic AI in financial services.They explore what it takes to make a single-LP model work, how GenAI is reshaping fintech workflows, and why European regulation may be a global feature, not a bug.

Welcome back to another episode of the EUVC Podcast, where we gather Europe's venture family to share the stories, insights, and lessons that drive our ecosystem forward.Today we welcome Enrique Alvarado Hablutzel, Co-founder and Chief Investment Officer of Chi Impact Capital, and Marvin Nusseck, Finance Lead at Circle Economy. Together they're behind the landmark Circularity Gap Report, the reference point for tracking how much capital flows into the circular economy — and where it still falls short.We dive into the latest data, why most money is still chasing recovery-phase solutions with the least systemic impact, the outdated risk models blocking capital flows, and how circularity can address not only climate but also geopolitics, competitiveness, and resource security.

Welcome back to another episode of Upside at the EUVC Podcast, where Dan Bowyer, Mads Jensen of SuperSeed, and Lomax unpack the forces shaping European venture capital.This week: Can Europe build a “VC Alliance” like the US and India? Why pensions remain the missing piece of Europe's capital markets. Gold, bonds, and macro risk: what really matters for startups. Google's antitrust reprieve, the UK's “middling AI power,” and how Europe should play catch-up. Plus: Xi Jinping's military parade, why manufacturing supremacy is destiny, and quantum's hot streak in Europe.Here's what's covered:00:01 Europe's VC Alliance? Lessons from the US–India deeptech pact00:06 Europe's Capital Gap: pensions, late-stage funding, and IPO droughts00:09 Macro Forces: gold, bonds, deficits, and what founders should care about00:24 Google's Antitrust Ruling: no breakup, just data-sharing00:29 The UK's Middling AI Power: Eisenberg supercomputer & Europe as a “power user”00:34 Tesla, humanoid robots, and China's military parade00:41 Europe's Defense & Industrial Base: what's at stake00:44 Deal of the Week: Quantum computing's billion-dollar moment00:46 Looking Ahead: All-In Summit, new funds, and Lisbon reflections

At EUVC Summit 2025, few sessions packed as much history, humility, and hard-earned wisdom as the conversation with Bernard Dallé and Thomas Kristensen.What began as a one-man show in the early '90s—when venture in Europe was barely a concept—has become one of the most respected platforms in the global industry.“I joined Index before it even existed as a venture firm. It was still Index Securities.”This was more than a talk. It was a journey through time, with insights for every fund manager—new or seasoned—building for the long haul.Before Skype, before unicorns, before European VC had a flag to wave, it was about scraping together conviction and capital.Index Fund I: $17 millionRaised in 1999, following years of groundwork and trialNo real ecosystem, no pattern recognition, and no “easy” capital“You can't raise without a track record. So we used Fund I to create it.”And then came the landmark deal: Skype's acquisition by eBay for $3–4 billion. That one outcome shifted the trajectory of Index—and of European venture as a whole.“After Skype, we could raise with more ease. It gave us credibility.”One of the standout themes was Index's philosophy around team building:“The hires that worked? People we knew—or people who joined slightly below partner level and grew into the role.”In contrast, hiring senior talent cold—especially across geographies—proved far harder. Culture cohesion was key, and misalignment at the top often broke the system.The advice was clear:Grow talent internally when you canOnly bring in outsiders when they're “known entities”Avoid parachuting in partners who haven't lived the firm's values“At some point, having someone senior focused purely on operations becomes essential.”This wasn't about back office—it was about survival.Today's LP demands include:ESG complianceFund reportingExit prepOngoing fundraisingPortfolio support“You need to start thinking about this 10 years in advance.”“It takes 15 years to become somewhat successful in this business. And once you get there—you need to start thinking about who'll take over.”Venture isn't just about spotting founders. It's about building the kind of firm that can back them for decades to come.Bernard and Thomas left the stage with no fluff—just a quiet reminder:Build slowly. Hire wisely. Think in generations.And good luck to all of us doing the same.The Early Days: A Market Without MomentumScaling a Firm: Culture First, Titles LaterOps Matter More Than You ThinkThe Final Lesson: Play the Long Game

At the EUVC Summit 2025, the “Impact Leader of the Year” award went to a voice that's impossible to ignore—and equally impossible to copy.Hampus Jakobsson, General Partner at Pale Blue Dot, was honored for his relentless push to bring urgency, clarity, and conviction to climate investing.The award, presented by Google Cloud, recognized not just a fund or a firm, but a force in the ecosystem—someone who has helped reshape the narrative on impact itself.As Google Cloud put it:“Innovation isn't just the next feature. It's about who's solving the world's most pressing challenges.”What Hampus and the Pale Blue Dot team have done is create a space—both intellectually and practically—that brings together VCs, LPs, founders, and operators who actually want to build things that matter.From climate investing as a sector (not a virtue), to challenging LPs who see ESG as a checkbox, to advocating for clarity over carbon offsetting theatre—Hampus has never opted for the easy soundbite.When he came back to the stage to accept the award, Hampus didn't offer a speech. Just a sharp observation—about his T-shirt:“Some smart people noticed my T-shirt today. It's not the Zuckerberg one that says ‘We need more emperors.' It's the one that says—‘We need fewer emperors.'”Because that's the vibe:Less ego.Less bluster.More building.More impact.Hampus leads not with scale, but with substance.Not with "thought leadership", but with actual thought.He reminds the ecosystem that climate investing is:UrgentSmartPotentially enormousAnd yes, a little uncomfortable—because it means changing how capital behavesCongratulations to Hampus Jakobsson—Impact Leader of the Year.Let's keep turning clarity into action. And ambition into outcomes.Not Just Widgets. Not Just Warm Words.We Need Fewer EmperorsLeadership That Leaves a Mark

European VC Power Law Report: Why Revenue Beats Unicorn StatusDealroom's recently released 2025 Power Law Investors Ranking 2025 report offers a unique milestone for European venture capital: 700 companies across EMEA now generate over $100 million in annual revenue. These aren't just unicorns floating on paper valuations. These are businesses with real customers paying real money.The report introduced a new category called "thoroughbreds" to capture this shift toward fundamental business metrics. While unicorns still matter for their forward-looking promise, thoroughbreds tell us something different: which companies actually built sustainable businesses that can weather market cycles.Today, Andreas Munk Holm digs into this topic and more with Saul Klein, co-founder of Phoenix Court (home to LocalGlobe, Latitude, Solar, and Basecamp) and the #1-ranked investor in the report, alongside Yoram Wijngaarde, founder & CEO of Dealroom.⏱️ Here's what's covered:00:39 - Saul on what topping the ranking says about Phoenix Court's approach01:53 - Yoram explains the thoroughbreds metric03:49 - Revenue vs valuation debate, lessons from Skype07:36 - Why Phoenix Court became multi-stage13:02 - The $35-50 billion growth stage funding gap17:38 - Advice for seed firms considering multi-stage expansion22:31 - Defense of the methodology's seed weighting24:58 - Picking companies at seed vs later stages

Welcome back to another episode of the EUVC Podcast, where we gather Europe's venture family to share the stories, insights, and lessons that drive our ecosystem forward. Today's conversation takes us on a global journey from Croatia to San Francisco to uncover how one founder caught lightning in a bottle and is now racing to harness it.Our guest: Ivan Burazin, founder of Daytona. With a career spanning Toronto, Croatia, Infobip, Shift Conference, and now Daytona, Ivan brings a rare, global perspective on how Europe can lead in DevTools and AI infrastructure. Alongside him, our dear friend Enis Hulli from E2VC joins to spotlight Daytona's story, the lessons from its dramatic pivot, and what it means for founders and investors navigating this new AI wave.Ivan has spent two decades at the intersection of infrastructure and developer communities. From racking servers in the early 2000s to launching one of the first browser-based IDEs in 2009 to scaling the Shift Conference to thousands of attendees, his career has consistently circled around enabling developers.Daytona's first act was a cloud IDE provider for enterprises — “one-click setup for secure developer environments.” With Fortune 500 customers onboard, revenue flowing, and a healthy pipeline, Daytona 1.0 showed promise. But something was missing.Six months ago, Ivan and his team made a bold decision to pivot. Daytona 2.0 is no longer about provisioning dev environments for humans — it's about powering AI agents with the computers they need.“Agents are not computers themselves. They need access to computers to run browsers, clone repos, analyze data. Daytona gives them that — an isolated sandbox with machine-native interfaces built for agents.” – IvanThe differences between human and agent runtimes turned out to be massive:Humans tolerate 30 seconds of spin-up; agents need milliseconds.Humans solve problems sequentially; agents branch into parallel “multiverse” solutions.Humans parse terminal output; agents require clean APIs.By recognizing this, Daytona carved out a new category: the computer for agents.The pivot coincided with a deliberate move to San Francisco. Ivan recalls how Figma embedded with designers at Airbnb, or how Twilio found adoption among early Valley startups. To own mindshare in a new category, location mattered.“From San Francisco outwards, adoption flows naturally. From Europe inwards, it's like pushing uphill.” – IvanSo Daytona went all-in: presence at AI meetups, team members flying in and out, and early product evangelism on the ground.HAfter the pivot, Daytona saw extraordinary pull from the market:Customer conversations ended with “send me the API key”.Infrastructure demand showed power-law dynamics: just a handful of fast-growing customers could drive scale.Instead of polished decks, Ivan shared raw revenue dashboards with authenticity.The momentum was immediate and tangible.Ivan admits he hadn't explicitly asked permission to pivot. He hinted at it in updates, tested the idea with a hackathon, and only later informed his cap table. The response? Overwhelmingly positive.“Almost half the angels replied. Go f***ing go. Let's go. I should've told them sooner.” – IvanEnis highlights this as a key distinction: experienced angels with broad portfolios encourage bold swings, while less diversified angels may fear the risk.Catching lightning is one thing. Harnessing it is another. Ivan's current focus:Hiring deliberately: keeping the team small and ownership-driven.White-glove onboarding: every serious customer gets a Slack channel with the whole team.Balancing speed and reliability: ship daily, but solve today's scale problems without over-engineering.Enis introduces a new term: seed-strapping — raising a seed, skipping A and B, and scaling straight to unicorn status.Ivan is cautious. Infra is capital-intensive, and while Daytona could raise a Series A today, he's committed to doing it on his terms.

When Hampus Jakobsson and Romain Diaz took the stage at EUVC Summit 2025, the conversation wasn't about convincing people that climate matters. That part's done.This was about the harder bit:→ How do we fund the climate transition without compromising ambition?→ How do we handle LPs who see impact as indulgence, or carbon reporting as box-ticking?→ And how do we build conviction-led portfolios in a world that wants both velocity and virtue?One of the most powerful reframes came from Hampus:“Climate is like mobile or AI—it's not a virtue, it's a vertical. The difference is: in AI, we don't know the problem. In climate, we do—we're just figuring out the solutions.”That means climate investing is not philanthropy. It's not reputation management. It's venture—with a horizon, a thesis, and real outcomes.“If you're just looking to carbon offset with our fund, I'm fairly uncomfortable taking your money.”As Romain and Hampus both pointed out, climate LPs today fall into three broad groups:Impact-maximizers – want carbon reporting, ESG scoring, metrics.Return-seekers – want DPI, not data tables.Narrative-driven LPs – want the signal value of “being in climate.”A good fund has to navigate all three—with alignment being more valuable than agreement.“We had an LP walk away from Fund I because we wouldn't do their carbon reporting. And we were okay with that.”Instead, Pale Blue Dot found alignment with LPs like IIP, the pension fund for Denmark's nurses:“I sometimes ask myself—will this startup help deliver a pension to Danish nurses in 10 years? That's the kind of alignment I want.”From methane-reducing agtech to fintech disruptors, the pair underscored the importance of building for what the world will need—not just what it rewards today.“We're backing founders who are asking: will this still make sense in 2050?”The subtext: stop treating the climate transition as a hypothetical. It's already here. And it's reshaping everything from agriculture to infrastructure to insurance.“We don't need everyone to believe. We just need to keep showing portfolio wins. The returns—and the reality—will take care of the rest.”The closing message from Romain and Hampus was clear:We don't need more virtue. We need more velocity.Velocity in:Deploying capitalBacking bold foundersScaling actual solutionsAnd reshaping LP mindsets—one fund, one return, one story at a timeThe climate transition isn't waiting. Neither should we.Climate Is Not a Virtue Signal—It's a SectorThe Tension: Impact vs Reporting vs ReturnsOn Methane, Neobanks & the Year 2050Climate Investing Is Growing Up

Welcome back to another episode of Upside at the EUVC Podcast, where Dan Bowyer, Mads Jensen of SuperSeed, and this week's guest Andreas from EUVC unpack what's happening in European venture capital.This week: Nvidia's meteoric rise (and first signs of slowdown), Apple's clash with UK regulators, and why regulators may be fighting yesterday's battles. Plus: Trump's Intel equity grab, whether governments should hold stakes in strategic industries, and what Europe can learn from Airbus and Ørsted. Finally, what digital sovereignty really means for Europe in an age of AI, energy bottlenecks, and geopolitical dependency.Here's what's covered:00:01 Nvidia's Reality Check: From 20% of Nasdaq to slowing 5% quarterly growth.00:06 Apple vs UK Regulators: The 30% “Apple tax” and post-Brexit CMA ambitions.00:13 Competition vs Regulation: Why IBM and Microsoft fell by creative destruction, not regulators.00:21 Trump's Intel Shakedown: Retroactive equity grabs and should states take stakes?00:29 Europe's State Aid Constraints: Airbus, Ørsted, and why Europe can't do national champions like the US or China.00:36 The UK Buying AI: £573M in H1 government contracts, Microsoft & Palantir dominance.00:49 Defining Sovereignty: Europe's dependency on US tech and Chinese production.00:57 Europe's Luxury Beliefs: Outsourcing energy, defense, and manufacturing — and why pension reform is key.01:02 Closing Takeaways: Sovereignty is more than regulation — it's about competing, investing, and not being naïve.

Europe has just gained its first unapologetically defense-first venture fund. Archangel Ventures, led by Nicholas Nelson and Daniel Carew, is not here to hedge, not here to play dual-use semantics, but to put defense front and center.Nic brings the lived experience of government, strategy, and deployments, with the policy networks to match. Daniel comes from a deep tech/DARPA-inspired investing background, obsessed with the frontier of what technology can achieve. Together, they're building a fund that rejects the hype cycle and instead anchors itself in Europe's sovereignty, resilience, and the urgent reality of our geopolitical moment.Why Estonia? Why now? Because the frontier matters. From Tallinn to Vilnius to Warsaw, the tyranny of geography makes defense personal. Partnering with Superangel, Archangel is embedding itself in the heart of the Baltics—a region that already knows what it means to digitize, mobilize, and defend.Archangel Ventures is a platform, a coalition of the willing, a bet that Europe can and must build its own defense ecosystem. As they put it, defense is not a bubble, not a passing Ukraine-driven hype cycle. It's the crucible where the next generation of European technology—and deterrence—will be forged.We're proud to have launched this journey with them on the pod. Tune in: 01:00 Origins of Archangel — Nic on why he wouldn't start with just any partner.04:00 Why they teamed up — Daniel recalls NATO roots and complementary skillsets.08:30 Why defense-first matters — Nic explains why dual-use doesn't work at seed.11:00 The timing challenge — Daniel on NATO's long horizon investing.14:00 Portfolio construction — Nic's three buckets: unmet needs, future needs, unknown unknowns.20:00 Filling the ecosystem gap — Daniel on bridging startups and primes in Europe.27:00 Why Estonia — Nic on geography and teaming with Superangel.33:00 Personal ties — Daniel on his Estonian family and NATO links.41:00 On working with primes — Nic pushes back on the “dinosaurs” narrative.53:00 Risks ahead — Nic on what happens if the war in Ukraine ends tomorrow.

At the EUVC Summit 2025, Cherry Ventures' Christian and Elsa Deseilligny from Cambridge Associates offered a behind-the-scenes view of what it takes to stay true to your mission while building a firm that lasts. At the center of it all? The founder.For Cherry, “Founders First” isn't just a slogan. It's a system.“Putting the founder at the center—doing everything to make them thrive—that's the foundation of how we build.”– ElsaThat principle doesn't stop at deal selection or portfolio support. It shapes how Cherry builds its own team, firm, and platform. Every strategic decision—from hiring to productizing services—is filtered through one lens: Will this help our founders thrive?And when it comes to fundraising?“Your right to win with LPs ultimately ties back to that clarity of mission.”Christian addressed a tension many top-tier funds face: how big is too big?He acknowledged the importance of honest, iterative conversations with LPs—but also highlighted a view shared by allocators like Cambridge Associates:“There's a sweet spot—where a strategy is still repeatable, but hasn't lost its edge.”In VC, scaling up can mean professionalization—but it can also lead to dilution of edge. The best funds find the institutional footing they need without drifting into sameness.“You want to reach a size where you're clearly outperforming with discipline… but then stop there. That's where true long-term relationships are built.”The insight many LPs quietly share?They're often betting on managers before they peak.“Ideally, we find the manager early. We scale with them to that sweet spot—and then, no one else can get in.”It's not just about performance. It's about conviction. The best LP–GP relationships are forged when the firm still feels like a startup—when the ambition is high, but the capacity is still intimate.Cherry's message was clear:If you want to build a lasting firm, don't chase scale for the sake of it. Build around your mission. Build with intentionality. And stay small enough to stay sharp.The founders will notice. And so will the LPs.A Platform Built Around “Founders First”Scaling with Intention (and Limits)The Emerging Manager Advantage

Welcome to a new episode of the EUVC podcast, where Andreas Munk Holm explores the cutting edge of European venture capital. Today's guest is Louis Dussart, Partner at RTP Global.Louis entered venture at just 20 years old with White Star Capital, built a startup bridging Europe and China, and now helps lead RTP Global's European strategy. In this conversation, he shares why Europe faces a political wake-up call on tech, what we need to fix in talent, growth capital, and IPO markets, and why founders are not just entrepreneurs—they're geopolitical assets.From emerging managers to sovereign LPs, from tech transfer to liquidity, Louis lays out the hard truths and actionable priorities for Europe to compete globally.Here's what's covered:02:12 Louis's Path: From White Star Intern to RTP Partner06:01 What Makes RTP Global Different: A Truly Global, Debate-Driven DNA10:14 The Political Wake-Up Call: Why Tech Must Sit at the Top of Europe's Agenda12:48 Talent, Visas & Education: The Dual Strategy for Closing the Skills Gap15:32 Sovereign LPs, Emerging Managers & The Role of Fund-of-Funds19:20 Tech Transfer in Europe: Why Our Universities Still Struggle25:40 US Growth Funds in Europe: Selling to America vs. Selling Out of Europe29:12 The Liquidity Problem: Why Capital Markets Union Is an Elephant in the Room34:45 Founders as Geopolitical Assets: Lessons for Europe's Leaders38:55 The VC Role: Echo Chambers Between Founders, LPs & Policymakers44:20 Why Europe Needs Risk-Taking Politicians as Much as Risk-Taking Founders

Welcome back to the Impact Highlight Series, powered by EUVC, Impact VC, and Impact Supporters.Over the past months, we've hosted ten conversations with some of the most thoughtful GPs, LPs, and unicorn founders shaping the impact investing landscape. In this special capstone episode, August Solliv (Impact Supporters) and Dougie Sloan (Impact VC & Better Society Capital) sit down to unpack what we've heard and distil the lessons into four big themes.

Welcome back to another episode of the EUVC Podcast, where we gather Europe's venture family to share the stories, insights, and lessons that drive our ecosystem forward.Today we welcome David Vlerick, Founding Partner at Bluegrass Ventures, to discuss how LP capital can be mobilised with meaning, why a platform approach makes venture more accessible, and what it takes to shift mindsets in a conservative market like Belgium.Bluegrass Ventures backs top-decile, small-to-mid-sized VC funds globally, while giving investors flexibility and transparency through a platform model. In this conversation, David shares his journey from law and private equity into venture, the philosophy behind Bluegrass, and why he believes primary capital is one of the most powerful forces for shaping a brighter future.

Welcome back to another episode of the EUVC Podcast, where we bring together Europe's venture family to share the stories, insights, and lessons that drive our ecosystem forward.This week, we sit down with Will Wells, founder-turned-VC, and now Partner at Speedinvest, where he leads deep tech and supports the firm's growth strategy.Will's journey spans building Hummingbird Technologies, an AI-powered agtech company exited to Agreena in 2022, to leading frontier tech at Firstminute Capital and Lightspeed Venture Partners. Now at Speedinvest, he's focused on backing European founders working on sovereign compute, defense, energy resilience, biosecurity, and the “picks and shovels” of the next decades.

Welcome to the Impact Highlight series, powered by EUVC, where we bring you the people and perspectives shaping European venture.Today, we sit down with Chloe Dagnell from Isomer Capital, one of Europe's most active LPs, to unpack what institutional investors are looking for, how impact sits alongside returns, and what makes a GP truly stand out.With more than six years at Isomer Capital and a background that started in international development before moving into venture, Chloe brings a unique perspective on building portfolios that balance financial performance with sustainability, diversity, and long-term alignment.

Welcome back to another episode of the EUVC Podcast, where we gather Europe's venture family to share the stories, insights, and lessons that drive our ecosystem forward.Today's guest is Omri Benayoun, General Partner at Partech, one of Europe's premier investment platforms. Since 2014, Omri has co-led Partech's growth equity strategy, raising more than €1B across two funds and backing some of Europe's most capital-efficient champions. With a career spanning government, corporate strategy, e-commerce, M&A, and growth investing, Omri brings a rare lens on what it takes to build resilient global tech leaders from Europe.From rock climbing as a metaphor for measured risk-taking to the structural advantage of Europe's “do more with less” DNA, this conversation covers Partech's contrarian bet on bootstrapped scale-ups, the role of elite LPs, and why Europe's complexity might be its greatest strength.

At the EUVC Summit 2025, Mehmet Atici from Bek Ventures aimed a popular narrative—that Europe is underperforming as a tech region. Not because it's untrue, but because it's incomplete.“Yes, there's catching up to do. But you can't argue there's no dynamism in Europe—it's just not evenly distributed.”And once you look closer, the picture changes fast.Much of the “Europe must act” discourse comes from the continent's largest economies—France, Germany, and the UK. But productivity data tells a different story:Poland and Bulgaria are growing steadily.Ecosystems in Tallinn, Lisbon, and Barcelona are booming—fueled in part by digital nomad visas.Eastern European founders are making waves well beyond their borders—with names behind global giants like Databricks and Snowflake.“Building a business isn't a lifestyle choice for them. It's a global ambition from day one.”These founders bring international exposure, capital efficiency, and hunger—without the insular networks that often define more mature markets.Sure, improving regulation—around stock options, company formation, or funding incentives—helps. But as Mehmet put it:“That's medicine without a proper diagnosis.”The bigger issue isn't operational—it's strategic positioning.The U.S. remains the most attractive market: a single language, deeper capital markets, and cultural cohesion.Europe's software market is just 23% of global share, compared to 43% in North America.So even if we fix the mechanics, the gravitational pull of the U.S. won't go away. And in some cases, a European identity may actually slow access to that market—not speed it up.What if fragmentation wasn't our weakness—but our untapped advantage?“The most thriving tech ecosystems are the most politically cohesive—because they serve founders, not flags.”Europe doesn't need to copy the U.S. to succeed. It needs to recognize excellence wherever it emerges, connect the dots, and support founders wherever they're starting from.In Mehmet's words:“Our opportunity is to transcend borders—not erase them.”“Let's not forget: the original EU model was ‘United in Diversity.'”It wasn't a flaw. It was a feature.Europe's next wave of global founders may not come from the centers you expect—but they're already building. Our job is to back them, bridge them, and help them win on a global stage.Let's get to it.Not Just Paris, London, BerlinEurope's Problem Isn't Just PolicyFrom Fragmentation to SuperpowerThe Original European Model Still Applies

At the EUVC Summit 2025, Kerry Baldwin (IQ Capital) and Chris Elphick led one of the most urgent conversations of the year:Can Europe mobilize its pension capital to fund innovation—or will it stay stuck on the sidelines?With £1 trillion expected to be funneled into innovation, growth, and venture by 2030, the opportunity is massive. But unlocking it will take more than speeches and slogans. It will take structures, translation, and a whole lot of education.Chris opened by setting the context:In July 2023, 10 of the UK's largest pension funds agreed to invest 5% of assets into unlisted equities—representing £5 billion of fresh capital.That capital is (unsurprisingly) biased toward private equity. But the real win?Getting a meaningful slice of it into venture.We now have the technical tools to do it:The introduction of Long-Term Asset Funds (LTAFs)—with 27 launched to date—means the legal infrastructure is in place.Regulatory shifts have opened the door. Now it's time to walk through it.“The pipes are built. Now we need to make the case.”As Kerry pointed out, it's not just about access—it's about alignment.“The pension world doesn't speak venture. It speaks in valuations, risk ratings, board approvals, and actuarial models.”To bridge the gap:Ditch the pitch decks. Instead, build relationships.Use case studies. Show, don't just tell.Speak their language. Get founders in the room. Educate through stories and real-world examples.And yes, explain your fees—transparently.→ “We charge fees because we hunt. We engage with professors. We run deep knowledge sessions. That's where the value lives.”Kerry closed with a critical reminder from someone who's seen the cycles before—2001, 2009, and now:“Just play nicely.”→ That means fair terms.→ Respecting early-stage angels.→ Not forcing founder-unfriendly clauses when capital is tight.Venture doesn't work when trust is broken at the seed layer.The prize is on the table. The pipes are laid. The policymakers are listening.Now it's up to us—as GPs, founders, LPs, and ecosystem builders—to:Make venture legibleBuild long-term trustAnd design financial vehicles that serve founders, fuel returns, and unlock national innovation agendas“Let's stop waiting for the future to finance itself. Let's build the financial architecture to fund it now.”The Landscape: Shifting Regulations, Real PotentialThe Real Bottleneck? Language & UnderstandingA Word of Warning: Don't Harm the EcosystemA Trillion-Pound Opportunity—If We Get This Right

At this year's EUVC Summit Awards, the “Exit of the Year” category drew intense debate—and for good reason.Europe is finally entering its outcome era, and this year brought no shortage of competitive contenders.But one exit stood out.Winner: SV Health Investors, for the exit of EyeBioAs the host reminded us, this award isn't just about a number on a term sheet:“With exits, we're celebrating outcomes. Outcomes that validate years of work, conviction, and follow-through.”For SV Health, this exit marked a textbook example of deep science meets disciplined execution.It wasn't a flash-in-the-pan. It was a story of patient capital, strategic support, and a global-scale outcome born in Europe.A breakthrough healthtech company delivering real-world impactAn outcome that unlocked returns and credibilityA case study in what's possible when bio meets business in the right wayIn a space where timelines are long and conviction is everything, SV Health and EyeBio proved what Europe is capable of when the pieces align.“Hopefully, we'll be seeing more and more exits like this in the years ahead.”We agree. Because one great exit isn't just a win for the team—it's a signal to the ecosystem.It tells LPs, policymakers, founders, and future fund managers: we can build here, and we can win here.Congratulations to SV Health Investors and the entire EyeBio team.Let's keep building toward the next one.Celebrating More Than Just ReturnsWhy It MatteredThe Bar Has Been Raised

At EUVC Summit 2025, Joe Schorge of Isomer Capital didn't come with slides—he came with a metaphor. And it stuck.He asked the room to imagine orchards of fruit. Not just apples or oranges, but a whole harvest cultivated over 12 to 14 years. Venture-backed companies. GPs. Fund positions. GP stakes. A record crop, grown with care across the UK and Europe.“We've never had this much high-quality fruit in European venture. The question now is—how do we get it to market?”For years, Europe has been laser-focused on planting:→ Backing great founders→ Building great firms→ Cultivating portfolios patientlyBut as Joe reminded the audience:“People expected the fruit to somehow sell itself. But we've learned: exits aren't automatic. Distribution isn't easy. And not everyone has the truck to move a watermelon.”Secondaries aren't just a workaround. They're a solution. Partial or full sales, done right, serve founders, GPs, and LPs alike.The market is waking up:There's more to buy than ever before: mature companies, vintage funds, GP stakesThere's more to sell than ever before: GPs needing liquidity, LPs rebalancingThere's more need than ever before: LPs want DPI, not just IRR“We're all running 10-year funds. Buy-and-hold sounds noble, but LPs want cash back. And founders want momentum.”Joe's message to LPs?→ Loosen your restrictions on secondary transactions→ Back the capital that makes liquidity possible→ Recognize that secondaries are a tool for progress, not shortcutsJoe kept it simple:Educate yourself – There's a wealth of info online. Learn the mechanics and the nuance.Look at your own portfolio – Where's the fruit starting to ripen?Talk to players in the space – From Isomer to a new wave of specialized secondary platforms, this market is growing fast.“Let's harvest, replant, and build the future together.”Secondaries aren't just about exits. They're about creating circulation, maturity, and movement in a market that's ready for it.European venture has planted well. Now it's time to harvest with discipline—and get ready to sow the next cycle with even more conviction.Planting Was Easy. Harvesting Is Hard.The European Secondary Market: Why Now?Where to Begin?A New Era of Venture Hygiene

At the EUVC Summit 2025, Stephen Lowery of HSBC Innovation Banking laid out a vision that wasn't just about capital—it was about building the infrastructure to unlock the next wave of innovation.“The future is not going to finance itself.”And the tools we need? Most of them don't exist yet.We're entering a new era—one where emerging categories like robotics, deeptech, AI hardware, and compute-intensive models demand new forms of financial support.But most of our current instruments were built for a different generation of tech.Stephen reminded us of the pre-SaaS era, when software businesses lived and died by upfront license fees. It wasn't until financing models evolved that subscription software (and eventually SaaS) could flourish.“Just like we innovated in software 20 years ago, we need to do the same now—in hardware, robotics, and beyond.”Stephen called for three key building blocks:Blended Capital→ Mix long-term venture equity with creative debt structures→ Pair revenue-based financing with contract support→ Add credit insurance into the mixCategory-Specific Models→ Think robot-as-a-service, compute-as-a-service→ Let hardware businesses monetize more like software onesCollaboration→ VCs, banks, LPs, and operators need to co-build→ “Let's do more than finance innovation—let's finance the infrastructure that enables it.”Stephen's message wasn't just for investors. It was for architects—those willing to help engineer the future of capital itself.“We need to work together in partnership to build the tools that will finance the industries of tomorrow.”Finance is no longer a back-office utility. It's a frontline enabler of innovation.And if we want European ventures to lead the next wave—we need to start building the financial rails today.The Problem: Our Financial Stack Is OutdatedWhat We Need: Purpose-Based Financing for a New AgeA Call to Builders (Not Just Founders)

At the EUVC Summit 2025, Nirmesh Patel from Amino Collective took the stage with a message that felt less like a pitch and more like a call to arms. His focus? The intersection of AI, health, and bio—and why Europe is uniquely positioned to lead this next era.We're still waiting for the first blockbuster drug developed using large AI models. But don't mistake that for inaction. As Nirmesh put it:“It's fundamentally changed how everyone does research in this space.”So much so that the Nobel Prize committee had no choice but to take notice.That shift is already reshaping how scientists think, experiment, and build companies—and it's opening the door for a new generation of outlier founders at the earliest stages.Amino Collective invests pre-seed and seed into health and bio, and Nirmesh was unequivocal:“Europe has all the ingredients required to make the next healthcare giants.”Here's what he sees:Technical founders now thinking commercially from Day 1.Citizens more willing to contribute data to studies, even if they don't cancel that January gym membership.Stable grant funding across Europe—especially in contrast to recent volatility at U.S. institutions like the NIH.On-continent innovation in manufacturing mRNA at scale—key to pandemic preparedness.These aren't future predictions. They're current capabilities, and they're maturing fast.Venture is about betting on outliers.In AI x Bio, the next outliers are likely being formed right now.“We're at the very early stages of the collision between AI, health, and bio. The companies that will define the future are just starting.”If you want to back the next transformative firm in medicine, don't just look to the coasts.Look to Europe. The science is here. The funding is here. The talent is ready.“I truly believe the future of medicine is European.”So do we.AI Has Already Transformed Research. The Market Impact Comes Next.Why Europe? The Ingredients Are Already Here.From Outliers to Giants

Welcome back to another episode of Upside at the EUVC Podcast, where Dan Bowyer, Mads Jensen of SuperSeed and this week's special guest Joe Knowles from Smedvig Ventures unpack what's happening in European venture capital.This week: Are we doomed to lag the US in wealth creation or is Europe finally closing the gap? Why a record $100B of M&A matters for exits and recycling capital, and how founders should think about selling vs going for gold. Plus: Porsche & Deutsche Telekom anchoring a €500M defence fund as Germany drops its taboos, the scramble for cheap energy and battery breakthroughs, and what GPT-5, Perplexity, and Nvidia tariffs tell us about Europe's place in the AI race.Here's what's covered:00:48 US vs Europe in Wealth Creation: Compounders, unicorns, and Europe's capital efficiency.09:07 Late-Stage Funding Gap: Why pensions and IPO markets hold Europe back.17:36 M&A is Back: Google's $32B Wiz deal, Windsurf drama, and Europe's “second tier” opportunity.25:52 Why Exits Matter: Recycling capital and the venture flywheel.27:09 Defence Tech Goes Mainstream: Porsche, DT, EIF and Germany's cultural shift.36:18 The Ethics Question: Dual use, deterrence, and uncomfortable truths.41:22 Energy Corner: Lithium recycling, sodium-ion batteries, and Europe's 4x US energy costs.46:44 AI Needs Power: Grid bottlenecks, red tape, and planning reform urgency.51:10 GPT-5 Launch: Unified model, user backlash, and coding benchmarks.54:37 Perplexity vs Chrome: PR stunt or regulatory opening?58:32 Chip Wars: Nvidia tariffs, Huawei delays, and why Europe needs Chips Act 2.0.1:05:59 Shoutout to Italy: Record €655M H1 startup funding.

At this year's EUVC Summit, the “Newcomer of the Year” award didn't go to someone just making noise—it went to a team making real moves. A team built for the long game. A team proving that even when entering late, you can lead early.Shapers VC took home the honor. And in the words of Phil himself:“Being new is not easy. But this team makes it look easy.”What makes a great newcomer?At EUVC, we looked for three things:Performance — Are they picking winners or building platforms?Perspective — Are they differentiated, or derivative?Community & Conviction — Are they lifting the ecosystem around them?Shapers VC showed up on all three.Backed by over 60 FinTech founders and operators, they're building the kind of platform that's more than capital. It's signal. It's support. It's sweat equity from people who've been in the trenches.“Community is core to us. Most of our LPs are strategic—it's what makes our model work.”– Greg Brown, Shapers VCGreg put it simply:“When everyone else left the party, that's when we showed up.”Shapers wasn't chasing a trend. They were responding to a gap—stepping in when others were stepping back. In FinTech, timing is everything. And they timed it with intent.“It probably feels weird to receive an award just as we're getting started. But shining a light on emerging managers matters—and we're honored to be in that spotlight.”Phil's closing message was one we believe in deeply:“There are so many strong emerging managers striking out on their own right now. Some are in this room. Recognizing them isn't just nice—it's necessary.”At EUVC, we don't just celebrate the legends. We champion the next ones.And if this year's award is any sign—Shapers VC is one to watch.Why It Matters: Community, Conviction & TimingThe Power of Showing Up Late (and Ready)Betting on the Next Generation

At the EUVC Summit 2025, Anthony and Sarah took the stage with what turned out to be one of the most intellectually charged exchanges of the day. The topic? Solo GPs, specialization, and the hard choices that define fund performance.Let's just say—no consensus was reached. But the tension? That's where the insight lived.Anthony came in strong:“Being a solo GP is the purest form of interest alignment.”To him, solo GPs aren't a stepping stone or niche play—they're a category in their own right. The advantage? Focus. Speed. Zero overhead. And most importantly: a differentiated product founders want.He highlighted what he sees as the compounding edge:No IC.No coordination cost.Vertically integrated workflows.A position as a complementary node, not a competitor, in the ecosystem.And yes—there's scale in solo too.“I just had coffee with two solo GPs managing over a billion in AUM. You don't need to ‘scale up' to be credible.”Sarah offered a more grounded lens: focus on performance over scale.“You don't win on good ops alone—but you can lose on bad ops.”Her point: it's not about copying what works in another market. It's about right-sizing your fund to what your strategy and your market can actually sustain.Especially in Europe, she argued, the path isn't about chasing a 10x in AUM—it's about finding the zone where your edge sings.“If I think about the funds I admire, they got really good at finding the fund size that matched their true strategy.”And for emerging managers, the key is still figuring out what the market needs now, not just what worked last cycle.As the session wrapped, one line captured the spirit of it all:“The test of a great intelligence is holding two opposing ideas at the same time.”At EUVC, we didn't just hear those ideas.We saw them—sitting side by side on stage.And if we're smart about it, we won't choose one or the other.We'll connect the dots.The Case for the Solo GP: Pure Alignment, Compounding AdvantageThe Performance Perspective: Ops, Fund Size & Market FitTwo Views. Both True.

Carlos Moreira da Silva brings a rare blend of insight: a deep B2B operator, a specialist investor at 33N, and a leading force behind Europe's cybersecurity coordination efforts through ECSO. Together, we explore why cybersecurity is Europe's opportunity to lead, not follow, in the new geopolitical tech stack.Here's what's covered:01:15 What is ECSO and Why It Matters for European Cyber03:30 Mapping the Cybersecurity Investment Gap: US vs Israel vs Europe05:20 The Tech Stack Power Shift: From Cloud to AI, and Why Security Must Catch Up07:30 Europe's Fragmentation Problem—Or Its Untapped Advantage?09:45 The Role of ECSO in Building a Unified European Cyber Strategy11:45 Why Europe Needs Specialist Cybersecurity VCs15:30 What Other Movements Can Learn from the ECSO Playbook20:00 Cybercrime vs Cyber Spending: The 10 Trillion Dollar Wake-Up Call21:30 Building Global Champions in Cyber (Not Just Regional Winners)25:00 What Startups Should Look for in a Cyber VC (Beyond the Check)26:30 Invest for Cyber @ SuperVenture: Why the LP Community Should Pay Attention28:00 Where Cyber Ends and Defense Begins—Drawing Ethical Boundaries at 33N

Welcome to a new episode of the EUVC Podcast, where we bring you the people and perspectives shaping venture — this time with a lens on Southeast Asia and India.This week, David and Ambika from Circle Capital sit down with Tanuja Rajah, Partner at M Venture Partners (MVP) in Singapore — an early-stage fund backing founders from day zero across Southeast Asia and India.Tanuja's path is not your typical VC story: a PhD in immunology, a startup built on trial and error, and a mission now to fund the region's next generation of founders tackling healthcare, trust, access, and affordability — without the science risk.

Welcome to a new episode of the Impact Highlight Series, powered by EUVC, Impact VC and Impact Supporters. Today, we're joined by Tony Jamous, founder and CEO of Oyster. Oyster is on a mission to reverse brain drain and reduce wealth inequality by democratizing access to global job opportunities. Before founding Oyster in 2020, Tony took his previous software API company public on the New York Stock Exchange.Together, we dive into how Tony built Oyster into an impact unicorn, what it means to lead a mission-driven company, and why he believes impact and financial success are collinear. From hiring across 45 countries to creating a billion-dollar company in just two years, Tony shares the lessons, challenges, and values that guide him.This is the playbook for building impact unicorns — straight from the founder's journey.

Mike Maples Jr., the legendary co-founder of Floodgate and early backer of Twitter, Lyft, and Twitch, joined EUVC to deliver a masterclass in contrarian venture investing. His message to European GPs and LPs was clear: the biggest winners don't follow the rules — they break them.He not only challenged European venture capitalists to rethink their playbooks but also distilled years of hard-won wisdom into a framework he calls Inflection Theory, urging GPs and LPs alike to focus on pattern breakers instead of pattern matching.In typical fashion, Mike was sharp, candid, and even a bit irreverent, dropping truth bombs about everything from what makes a founder truly breakout to why fund size is a VC's destiny. This essay captures those key insights and explores what they mean for European investors who aspire to back the future's biggest winners.Mike Maples Jr. has never been one for incremental change. As our conversation revealed, he believes venture success comes from “changing the subject” entirely – defying conventional wisdom and waging “asymmetric warfare on the present”. European GPs and LPs tuning in were treated to a masterclass on identifying unreasonable founders who don't fit the mold, and why the usual check-the-box approach to startups misses the mark. From Inflection Theory and the anatomy of breakout founders to the transatlantic culture clash in tech, let's dive into Maples' playbook – and see how it challenges us all to up our game.

Welcome back to another episode of Upside at the EUVC Podcast, where Dan Bowyer, Mads Jensen of SuperSeed and Lomax from Outsized Ventures unpack what's happening in European tech and venture capital.This week: Why Series A in Europe now often means “multi-seed” and what founders should do about it, Germany's €100B industrial policy push and whether it can actually deliver, and the Bank of England's rate cut as a red flare for the economy. Plus: the OECD's warning on corporate underinvestment, why the EU's Chips Act 2.0 risks missing the AI boom, and the latest in the global AI race from GPT-5 rumours to billion-dollar raises. Also: Clay's $100M relationship-intelligence war chest, N8N's unicorn momentum, and a Spanish autonomous tractor that's rewriting farm economics.

At EUVC Summit 2025, Hampus Jakobsson (Pale Blue Dot) didn't give a talk—he threw down a gauntlet.Forget polite panel chatter. This was part existential reckoning, part investor roast, and part Radiohead reference. It left the room laughing, nodding, and—if we're honest—slightly uncomfortable.Which was the point.“Venture is lending money to people believing one future. That's what I do at least.”2019: The Climate Fundraising GauntletHampus opened with a flashback to 2019, when fundraising for climate still meant fighting disbelief.“One third of LPs didn't believe in climate change. Another third didn't understand the business models. The rest were waiting for someone else to go first.”Fast forward to today, and while climate events are louder, many investors still hesitate.“The expected value of climate change is huge. So why are we still asking if there's upside?”Fossil Fuels vs. Electrons: Which Sounds Dumber?In classic Hampus form, he took aim at the status quo with punchy simplicity:“We burn things that explode to move forward. Or we could use electrons that fall from the sky for free. Which sounds smarter?”He skewered half-hearted circularity narratives and ESG buzzwords, pointing out the absurdity in how valuable materials (like titanium in aerospace) are wasted—literally thrown out next to cigarette butts.Radiohead, Trump & the Venture Job DescriptionAt one point, Hampus invoked a line from Radiohead:“If you're a plastic surgeon, you gotta know—gravity always wins.”Then added:“Sorry, Trump.”It was funny—but also cutting. The message was clear: You can deny physics and climate reality for a while, but eventually, gravity wins.How Venture Can Actually MatterHampus made one thing very clear: he's not in climate to feel good—he's in it to win.That means:Bigger roundsBigger companiesBigger exitsAnd fewer excuses“Let's stop pretending it's complicated. Let's raise, build, scale—and let's be less dumb.”

At the EUVC Summit 2025, William McQuillan of Frontline Ventures delivered a data-backed reminder: If we're serious about building global companies from Europe, we need to stop treating the US as a rival—and start treating it like the deeply connected partner it already is.Robin Klein & the Power of Ecosystem BuildersThe session opened with a heartfelt nod to Robin Klein, this year's Hall of Fame inductee. When Frontline asked leading investors across the continent “Who has been most influential in your journey in European tech?”—four out of five said Robin.“Building an ecosystem isn't just about investing. It's about building a fund, a culture, and a movement. Robin has done all three.”His recognition is a signal to us all: the best investors aren't just backing startups—they're laying foundations for the entire ecosystem to thrive.Europe vs. US? The Data Tells a Different StoryYou might think Europe and the US operate as separate tech spheres. The media often frames it that way. Politicians like Trump make it seem that way. But the data tells a different story:45% of the world's internet traffic flows through just 17 transatlantic cables—every single day.In consumer tech, nearly 75% of global spend comes from Europe + the US combined.Signal AI, a Frontline portfolio company, analyzes global news in 150+ languages—yet a major share of its revenue comes from the US.“We're already collaborating—just not always intentionally.”Think Big. Think Global.William's message to investors was crystal clear:“We shouldn't be advising founders to go small or to ignore the US. Europe and America are economically and digitally intertwined—and always have been.”He cited the powerful example of Dr. Katalin Karikó (Europe) and Dr. Drew Weissman (US)—the Nobel-winning team behind mRNA vaccines. Global breakthroughs, enabled by global collaboration.Yes, it's harder today to build across borders. But that's where investors need to step up—not retreat.Let's not let political headlines shape our investment strategies.Let's help our companies build globally, because that's how we build lasting, category-defining businesses.And let's take a page from Robin Klein's book: invest in the ecosystem, not just the deal.

Welcome to a new episode of the EUVC Podcast, where we bring you the people and perspectives shaping European venture.Today, we're joined by Ties Boukema, Head of Data, Tech & AI at Dawn Capital, one of Europe's leading B2B SaaS and Fintech investors. With a background spanning law, statistics, Google Health, and five brain surgeries, Ties brings a rare mix of grit, optimism, and technical firepower to Venture and he's putting it to use by building Rolodex, an internal AI-powered operating system for Dawn.This is not an AI trends episode. This is an inside look at what it takes to build and deploy technology within a venture firm—and why the industry has been lagging behind.

This year at the EUVC Summit Awards, Robin Klein was inducted into the Hall of Fame. Backed by HSBC Innovation Banking, the award celebrates a lifetime of impact—and Robin's legacy stands as a blueprint for what long-term conviction in European tech can look like.As Chris Adelsbach reminded us on stage, we're no longer an emerging ecosystem. We've grown up. And few have helped shape that growth more consistently, more humbly, and more powerfully than Robin.A Legacy That Began Before Venture Had a NameRobin's story doesn't begin with startups—it begins with family, migration, and belief.A century ago, his grandfather left Eastern Europe for South Africa. Years later, he handed over his life savings to a young engineer—Robin—to start a business. That first act of belief, Robin said, was venture capital before we had the word for it.From there, the journey spanned decades:→ Two companies built and exited.→ A pivot to angel investing in 1999.→ A front-row seat to the power law—and the human stories behind it.From Fledgling Angels to a $2B PlatformWhat followed was a fundamental reshaping of Europe's innovation landscape.Across LocalGlobe, Latitude, and Solar, Robin and his team have helped founders build not only unicorns—but also communities, movements, and ecosystems. They've backed science and inclusion, food banks and frontier tech, with LPs from both East and West. Today, their platform manages nearly $2 billion.And through it all, one belief has remained constant:Innovation and technology are forces for good—capable of delivering stellar returns to LPs, and positive change to society.A Call to Builders—And the FutureRobin closed by thanking his grandfather—the original backer—and his son and partner, who now help lead the next generation forward.His message to the room was clear:We have the talent, the universities, the engineers. We have the moment.The time is now.Thanks to the foundations we've laid— the best is still ahead.

At this year's EUVC Summit, Oliver Holle from Speedinvest delivered a powerful call to arms. In a room filled with the ecosystem's builders, he laid out a bold vision for European venture: one that embraces our values, recognizes our untapped capital strength, and demands we shift from fragmentation to scale. His words weren't just timely—they captured a moment of reckoning for European VC. The message? The opportunity is ours to lose, and the only thing standing in the way is us.Something strange has happened lately—I've never felt more proud to be European.Not in a jingoistic way. But in the sense that Europe's values—modesty, facts over noise, democratic principles, and consensus-building—are becoming a competitive advantage. At a time when reliability and trust are global currencies, Europe's soft power has quietly gained weight.But soft power alone isn't enough.

In this episode, Jeppe Høier and Andreas Munk Holm sit down with Julien Fredonie, Head of Europe & Africa at Honda Xcelerator Ventures, for a deep dive into how one of the world's most iconic manufacturing giants is strategically navigating venture capital across Europe.They explore Honda's global investment strategy, Julien's views on Europe's deeptech strengths, the nuanced role of corporate VC, and why Honda is bullish on European innovation—from climate tech to AI and advanced manufacturing.This one's a rare look into how a global player allocates capital, thinks about strategic alignment, and partners with both startups and emerging funds.Here's what's covered:01:10 Who is Julien Fredonie and what is Honda Xcelerator Ventures?02:40 The 4 Strategic Pillars: Sustainability, Manufacturing, Mobility, AI04:15 What "Deep Tech That Sells" Means to Honda05:30 Strategic Projects Explained: POCs, JVs, and R&D Partnerships07:45 Fund-of-Fund Activity: Why Honda Also Backs VCs09:00 Structuring the CVC: The Role of Julien's Team vs. Internal Honda R&D11:30 What Startups Get from Honda (Beyond Capital)13:45 Deep Tech DD: How Honda Approaches Validation from Inside & Outside23:30 Where Europe Stands Out: Climate, Advanced Industry, AI25:30 Gen 2 Climate Tech: From Environmental to Industrial Impact26:15 The State of French VC and Deep Tech Momentum

Welcome back to another episode of Upside at the EUVC Podcast, where Dan Bowyer, Mads Jensen of SuperSeed and Lomax from Outsized Ventures unpack what's happening in European tech and venture capital.This week: Why Meta and Microsoft are minting cash from AI, what Figma's IPO signals for SaaS, whether the EU got rolled in its new trade deal with the US, and how Europe's AI scene is finally delivering billion‑dollar exits. Plus: OpenAI's new “Study Mode” and Harry Stebbings' Project Europe—an “anti‑YC” deep‑tech accelerator for founders under 25.

In this episode, Andreas Munk Holm sits down with Alexander Klyanitskiy and Valentina Zakirova, the founding partners of AdHoc Ventures, a brand-new fund laser-focused on what they call Human Interaction Tech.They explore why online communication, remote work, and AI are disrupting how we relate at work and in life, and why that opens a massive opportunity for a new kind of VC firm. With a track record of backing unicorns like Flo, Revolut, and Patreon, and institutional knowledge from Bain and SDV, the duo is now raising their first fund to scale this vision.We dive into how they define their category, the growing $150B+ market opportunity, their standout portfolio performance, and how their unfair advantages—from GTM playbooks to Tier 1 VC intros—create gravity with both founders and LPs.

Welcome back to another episode of At the Cap Table, your trusted inside track on the people, ideas, and power dynamics shaping the future of European venture.This week, Savs sits down with Hannah Leach, Partner at Antler UK and Co-Founder of VentureESG, for a candid conversation about doing VC differently—from day-one investing and values-led portfolios to walking away from a fund that could have been.They dive into the rise of “residency models” over accelerators, why ESG is often misunderstood (even by the pros), and how real co-founder chemistry can't be faked. Hannah also opens up about why Fund II didn't happen at Houghton Street Ventures, what she's learned about partnership dynamics, and what kind of founders actually thrive under pressure.Whether you're building from zero, navigating the future of VC, or just wrestling with what it means to do this job with intention—this one's for you.Here's what's covered:01:50 | How an NGO office in Mumbai sparked a decade-long obsession with founders04:20 | VentureESG: the accidental nonprofit now guiding 700+ VCs and LPs11:30 | Houghton Street Ventures: the thesis, the traction, and the hard call not to raise Fund II18:00 | Why working with the right people trumps firm strategy20:00 | Antler's “day one” model and what a residency really offers founders23:00 | Week 3 in the Antler cohort: when teams form — and sometimes fall apart25:30 | What actually matters in early-stage teams (hint: not the idea)28:00 | Standard terms, 10-week pressure, and founder selection inside Antler30:00 | Project Europe, collaboration culture, and why VC needs more team sports33:00 | Europe's strength in AI, climate, and thoughtful founders34:30 | Luck, wonky careers, and why no door is ever really closed