EUVC

In this episode, Andreas Munk Holm talks with Carlos Trenchs — early-stage investor — about the new wave of entrepreneurs in Spain: those who've exited, raised again, and are now backing the next wave. They dive into the rise of Spain's emerging managers, the structural limitations new fund managers face when fundraising, and how institutional platforms can solve them.Carlos shares insights on how his team is designing a new type of investment structure — one that serves both fund-of-fund limited partners (LPs) and those deeply committed to ecosystem development. From syndicate-style collaboration to collective capital and US micro-fund inspiration, Carlos unpacks the anatomy of the new European seed scene.Whether you're building a micro fund, exploring Spain's founder-led evolution, or curious about how fund design is adapting to new LP profiles — this one's for you.Here's what's covered:00:00 The Rise of Repeat Founders: From Glovo to Preval and beyond03:15 Why Founders Become Emerging Managers05:42 The Fundraising Gap for New Managers08:10 Co-investing and Scouting for Ecosystem Development11:35 Challenges of Hybrid Investment Models14:00 Case Study: Transcend — A $1.5M EdTech Concept Fund17:20 Collective Capital: When LPs Roll Up Their Sleeves19:45 Closing Thoughts & Invitation to Meet in Barcelona

Welcome to a new episode of the EUVC Podcast, where we bring you the people and perspectives shaping European venture.This week, Andreas Munk Holm is joined by Sarah Drinkwater, Founding Partner at Common Magic, and Anthony Danon, Founder at Rerail, for a deep dive into the rise of solo GPs and micro funds in Europe. Together, they unpack the forces driving this new wave of intentional, nimble VC—why it's working, how it's evolving, and what it takes to win.It's a conversation that builds on their stage debate at the EUVC Summit—this time going deeper into headless rounds, syndication dynamics, the next generation of angel investors, and the very real personal decisions behind going solo.

In this episode, Andreas Munk Holm is joined by Colin Knight, a leading coach in the startup ecosystem, and Mike Reiner, co-founder of 432 Legacy, to dive deep into the emotional and relational dynamics that power — and often derail — the venture journey.This conversation is part of the Venture Beyond initiative: a space to reflect on the human side of venture, supporting founders and investors in building intentional teams, resilient cultures, and sustainable energy for the long game.Here's what's covered:02:15 – What is Venture Beyond? (feat. 432 Legacy & Stride VC)05:00 – “Peeling the Onion”: Relationships → Team → Role → Self10:30 – Power dynamics and pitching: resetting the foundation22:00 – The myth of pleasing and the power of check-ins29:00 – Why VC firms struggle as teams38:00 – Role transitions: letting go of identity and control44:00 – The “Colin Column”: Why am I doing this?47:00 – The Self: Paying the price of transformation49:00 – Outcome addiction vs. joy in the journey55:00 – Energy is everything: what drains you, what fuels you57:30 – Finding your inner peace in a mad world

Welcome back to another episode of the EUVC Podcast, your trusted inside track on the people, deals, and dynamics shaping European venture.This week, Dan Bowyer and Mads Jensen of SuperSeed and Lomax from Outsized Ventures, gather to unpack the macro forces and micro signals shaping European tech and venture.They unpack the defense boom powering Europe's deep tech surge — and ask whether startups should rush in or sit this wave out. They break down OpenAI's next big product moves, the battle for browser dominance, and whether we're already at peak LLM. They ask if working from home quietly kills startup culture (and what actually keeps it alive). And they check in on Trump's tariffs, Europe's big tech fines, and the resilience playbook that's pulling startups deeper into geopolitics.If you're investing, building, or just trying to make sense of where Europe's venture scene goes next — this one's for you.Here's what's covered02:00 | The defense boom: Europe's rearmament momentHow Germany has overtaken the UK in startup funding for the first time — and why defense, dual-use, and resilience are fueling the deep tech wave.04:50 | Moral lines: should you build in defense?Mads, Lomax and Andrew debate whether there's an ethical red line — and if Europe's founders should follow the money or sit this one out.08:40 | Peak LLM? OpenAI launches a browserIs OpenAI eating Google's lunch? Mads explains why a new browser isn't just a gimmick — it's a data moat and a massive ad market play.12:00 | The new search wars & what founders should doLomax breaks down how SEO is dead — GEO (generative engine optimization) is in. Why this shift is reshaping startup distribution playbooks.15:30 | Grok 4, Elon & the next frontierMads explains how Musk's Grok leapfrogged benchmarks — and why the next LLM battle is all about compute, data quality, and Nvidia's $4T edge.18:50 | Does working from home kill culture?Are great companies built on Slack or in person? The crew unpacks why strong culture is more than values on a wall — and why the best teams come together.25:00 | Trump's tariffs: a real threat or priced in?Why markets barely shrug at Trump's latest trade threats — and what selective escalation could mean for European startups this autumn.29:00 | UK startup stats: steady but smallEight billion raised, a handful of unicorns minted — but the US is still 20x bigger. Why the same structural issues keep the UK from scaling like Silicon Valley.33:15 | Big Tech vs Europe: do the fines matter?From DMA penalties to encrypted chat backdoors, the team debates whether Brussels' big fines work — and who really pays the price.38:10 | Deal of the Week: Eutelsat's €1.35B resilience playWhy Europe's sovereign satellite champion matters — and why Lomax wants them to rebrand fast.

Welcome to a new episode of the EUVC Podcast, where we bring you the people and perspectives shaping European venture.This week, Andreas Munk Holm sits down with Nicholas Nelson, founding GP of Archangel, the new defense-first fund going all in on the blunt reality of European strategic autonomy.Nicholas is no newcomer to this. From advising governments to serving in Afghanistan, launching syndicates, or building dual-use bridges when few wanted to touch defense, he's stayed on the same mission while the market shifted all around him.In this episode, Nicholas breaks down why Europe needs unapologetic defense-first investing, why dual-use alone won't cut it, and what founders, LPs, and co-investors must face up to if they're serious about Europe's sovereignty.Here's what's covered:00:00 | Nicholas Nelson's journey: from service to syndicates to Archangel02:00 | Two decades of doing defense before it was cool04:00 | Why now? Why real defense? Why not just dual-use?07:00 | The war tech shift: tanks out, rapid iteration in10:00 | Ukraine's ‘hourly sprints'—why on-the-ground matters13:00 | Deterrence, lethality & Europe's strategic gap16:00 | When dual-use brands muddy the water (and why that's risky)19:00 | The bullets & bombs dilemma: investing when LPs say no22:00 | Primes, vendor lock & the truth about the military industrial complex26:00 | ESG tensions: Europe's extra layer of complexity30:00 | The pan-European Anduril myth—why it doesn't map34:00 | Local vs. pan-European scaling: what's realistic37:00 | Exit routes & why the big growth rounds go abroad40:00 | The flywheel we didn't get to—coming in part two

Welcome to a new episode of the EUVC Podcast, where we bring you the people and perspectives shaping European venture.This time, we flip the mic: Jeppe Høier, normally the host, steps into the hot seat in a conversation with Francesco Di Lorenzo, Associate Professor of Strategy and Entrepreneurship at CBS and an expert on entrepreneurial and innovation strategy.In this episode, you'll get the full backstory on Jeppe—from PwC to CFO at a pan-European fund, Heartcore Capital, to building Maersk's CVC arm, and now shaping Europe's corporate VC landscape through the EU CVC podcast, newsletter, and summit.They dive deep into how corporate venture works (and fails), why the immune system metaphor holds true, and what's needed to build an ecosystem across Europe that actually delivers.

In this episode, Andreas Munk Holm sits down with Julia Binder (IMD), Manuel Braun (Impact Hub), and Enrique Molina (CircularCo) to unpack the evolving world of circular venture. They dive into why circularity should be viewed as a horizontal investment lens — not a niche — and how startups across materials, manufacturing, and infrastructure are already proving out scalable models.From textile dyeing to resale logistics and digital product passports, the group highlights how circularity intersects with every vertical and why now is the time for more GPs and LPs to get involved.Here's what's covered:00:50 – “We don't invest in dumb things”: The Pale Blue Dot mindset02:30 – Why current supply chains reward harm — and how venture can reverse it04:30 – Startups vs. corporates: Who's best positioned to drive change?07:40 – 5 monetizable circular business model archetypes12:10 – What infra is needed to scale circularity?15:00 – Real-world startups & back-end enablers in resale, reuse & track-and-trace18:00 – Circularity: Horizontal lens or vertical category?23:00 – Where capital is flowing: Startups, funds & LPs getting serious26:00 – Hype cycles: AI ascendant, circularity under the radar28:00 – Building ecosystems: Infrastructure, co-opetition, and collective voice31:00 – Final call: Why everyone — from founders to family offices — must engage

Welcome to a new episode of the EUVC Impact Highlight, where we bring you the people and perspectives pushing the boundaries of purpose-driven venture. This week, August Solliv sits down with Dougie Sloan, Managing Director, Impact Venture at Better Society Capital, and Jacqueline van den Ende, Co-founder & CEO of Carbon Equity, to explore how we unlock billions for climate action by rethinking the very architecture of venture capital.Together, they dive into how Carbon Equity is turning everyday citizens into climate LPs, why “retail” doesn't mean amateur, and how tech, transparency, and trust can finally bring impact investing to scale.This episode's themes:Why climate finance is stuck—and how we build new pipesReimagining access: giving more people a seat at the capital tableThe rise of the prosumer LP: conviction, education, and agencyBridging alpha and impact without trade-offsRedesigning private markets for participation at scaleHere's what's covered:00:30 Jacqueline's journey: from traditional VC to climate capital rebel02:15 The climate capital gap: why only 2% of VC goes to climate tech03:45 Institutional capital vs. bold innovation: the trust mismatch05:30 Rethinking “retail”: building for a sophisticated next-gen LP07:00 Tech as an enabler: onboarding, transparency, and scale08:45 What private market investors need (and don't get today)10:00 Productizing the LP experience: clarity, ownership, conviction11:45 How Carbon Equity builds education into capital deployment13:00 The vision: mobilizing the masses without dumbing things down14:30 Impact with returns: challenging the trade-off fallacy16:00 What's next: tokenisation, retail regulation, and unlocking access

Welcome to a new episode of the EUVC podcast, where we connect and champion the voices shaping European venture. Today, we spotlight Lorenzo Franzi, Founding Partner at the Italian Founders Fund, to explore how a new generation of fund managers is reshaping Italy's startup landscape—and why deep empathy, focused strategy, and intentional market building are the foundation.Lorenzo opens up about his journey from angel investor to institutional VC, shares insights on navigating Italy's regulatory landscape, and explains why now is the time to believe in the Italian opportunity.Here's what's covered:02:00 Why Fund Strategy Starts With Empathy: How Lorenzo's unique experience grounds his founder-first approach05:15 The Thesis of Italian Founders Fund: A triad of Italy, diaspora, and inbound startups08:10 Why There Are No Small Funds in Italy: Structural barriers and the missing middle12:44 Data-Driven Support at Scale: Building productized VC operations16:02 Market Maturation: Applying Foundamental's venture framework to Italy19:00 Building an Edge through Focus: A concentrated portfolio with proximity-driven value22:30 From Angels to Institutions: What the Italian startup scene needs next25:50 Forget Unicorn Chasing: Why the alpha strategy matters more at pre-seed28:40 Is Now the Time to Back Italy? Lorenzo's bet and what makes it different30:18 Ecosystem Building Through Visibility: Why global VCs must come meet local founders

Welcome back to another episode of the EUVC Podcast, your trusted inside track on the people, deals, and dynamics shaping European venture.This week, Dan Bowyer and Mads Jensen of SuperSeed and Lomax from Outsized Ventures, gather to unpack the macro forces and micro signals shaping European tech and venture.They sit down to break down the two sides of the IPO market: the soaring optimism behind Figma's public debut — and the deep freeze that's hit London listings harder than at any time since before the dot-com crash.They also unpack what Figma's $730M paper loss means, how vertical AI is the next generation of SaaS, and what the UK must fix to stand a chance in the global listings race.If you're investing, building, or just trying to make sense of the markets this summer — this one's for you.Here's what's covered02:30 | AI infra's moment & CoreWeave hypeWhy infra plays like CoreWeave and Circle have the market buzzing — but vertical AI is where the next SaaS returns lie.04:50 | Figma's $730M paper loss explainedMad breaks down the headline figure, the failed Adobe deal, the FTC veto, and why this IPO is about fundamentals — not hype.08:20 | Tender offer drama & employee moraleHow Figma's $20B exit fizzled — and the May 2024 tender to keep teams motivated ahead of listing.12:00 | Figma as a bellwether for design & vertical AIWhy product-led SaaS is shifting toward deep vertical AI workflows — and what that means for investors.15:45 | London: the slowest IPO H1 in nearly 30 yearsCounter to the US's $9B+ haul in 12 deals, London managed just $160M across five listings. A brutal gap.18:10 | Worse than dot-com. Worse than ‘08.Dan & Mad put the numbers in perspective: this is the weakest stretch since before many listeners were born.26:15 | Dual-class shares & free float: too little too late?Why tweaking share classes & float minimums is more copy-paste than innovation — and not the real fix.35:20 | The ESG paradox & listing tensionWhere does London's ESG edge help — and where does it push big companies abroad?40:15 | US vs UK capital markets: talent, trust & scaleWhy founders and funds still flock to New York — and the structural advantages London must address.44:30 | Can London fight back?What would it actually take to make London relevant again for growth listings? Dan's realist take.50:00 | Lessons from Figma for foundersWhy strong fundamentals still matter — and how the tender saga shows the cost of employee trust.55:00 | The vertical AI playbook: Europe's edge?Where Europe's sector expertise might win if it can get capital markets working again.

In this episode, Andreas Munk Holm talks with Paolo Pio and Matt Cooper, Founding Partners of Exceptional Ventures, to unpack their mission-driven approach to health and wellness investing. They dive into “Joyspan®”, their unique investment thesis which centres on a personal balance between health and happiness, and the growing need to separate science from hype in health tech.Here's what's covered:02:53 Paolo Pio's Journey to Venture Capital05:52 Matt Cooper's Accidental Path to VC14:57 Unique Positioning in the Venture Ecosystem17:46 The Importance of Entrepreneurial Integrity20:55 Navigating the European Venture Landscape24:08 Investment Strategies and Value Creation28:03 Developing Future Leaders in Venture Capital31:01 The Mission of Joyspan®: Health, Wellbeing, and Happiness36:34 Integrating Health and Joyspan® into Venture Capital40:27 Separating Science from Fiction in Health Tech

In this episode, Andreas Munk Holm sits down with Rich Ashton to unpack the unique thesis behind FirstPartyCapital, a specialist VC fund backing early-stage founders in the global AdTech and MarTech sector.Rich explores why this trillion-dollar industry has remained overlooked by mainstream VC, what it takes to be a successful investor in the complex ad ecosystem, and why FirstPartyCapital's massive LP network and deep expertise are enabling them to lead the charge.Here's what's covered:04:07 Why AdTech is the Trillion Dollar Niche11:51 The Facebook & Google Dominance Myth12:22 Case Studies: Trade Desk, AppLovin, Lumen14:17 Why Most Funds Miss the AdTech Opportunity15:38 DOJ vs Google, and the Breakup Implications17:20 AI & the Future of Attention24:37 Why First Party Capital is Uniquely Positioned26:27 From Fund to Syndicate, Studio, and Lending28:54 Portfolio Highlights: Lumen, Bedrock, Pixels31:22 Fund II: Now Raising, Backed by Strategic LPs

Welcome to a new episode of the EUVC Podcast, where we bring you the people and perspectives shaping European venture.This week, Andreas is joined by Oliver Brunschwiler, purpose-driven entrepreneur, former pro snowboarder, and longtime systems thinker, along with Enrique Molina from Chi Impact Capital, co-hosting this deep dive into what it means to lead with purpose, design for circularity, and build organizations that reinvent themselves from the inside out.Oliver's journey goes from first tracks on fresh powder to first tracks in organizational design—helping companies ditch rigid hierarchies for role-based, purpose-led systems. Enrique brings the investor lens, showing how these principles translate into impact capital and portfolio building today.In this episode, they break down how circularity is moving from hype to hard reality, why trust and leadership still matter in the most “self-organizing” teams, and how the best founders navigate the tension between market dips and mission-driven staying power.This Episode's Themes:Holacracy, role-based teams & why leadership still mattersCircularity's gap phase—and what's quietly thrivingIndustrial impact: batteries, PET, and supply chains redesignedPolicy tailwinds: how the EU is making circular the new normFirst tracks mindset: from snowboarding to systems changeHere's what's covered:00:00 | From pro snowboarding to purpose-driven business02:00 | Sports, freedom & the roots of Oliver's entrepreneurial DNA04:30 | The value of pushing limits—on boards and in boardrooms08:00 | Holacracy & new work: why “no boss” usually fails12:00 | Purpose is boss: role-based systems done right15:00 | AI, agents & managing the unmanageable—what changes, what doesn't19:00 | When people don't want ownership—why clear leadership stays vital20:00 | Circularity: beyond the hype cycle and into tough reality24:00 | Surviving the stock dip: founders reconciling mission and market28:00 | Industrial scale impact: batteries, chemical recycling & what's next32:00 | Where Oliver sees big opportunities now (food, upcycling, building)36:00 | Corporates, supply chains & Fairphone as a case in point40:00 | The EU Green Deal, Right to Repair & why policy matters44:00 | Final thoughts: trust the purpose, ride the dip, build the system

At the EUVC Summit, Bernard Dalle (formerly of Index Ventures) and Thomas Kristensen (LGT Capital Partners) shared candid reflections on how to build a venture firm from the inside out. Instead of fixating on star hires and grand strategies, their talk emphasized the compounding power of cultural alignment, junior talent development, and early operational investment.Drawing on first-hand experience, they unpack what it takes to build enduring institutions—where team, trust, and time matter more than titles.Whether you're raising your first fund or scaling your platform team, this conversation offers timeless lessons from one of Europe's most respected firms.Here's what's covered:00:45 Betting on People: Why hiring for cultural fit beats chasing CVs02:20 Long-Term Talent Playbooks: Junior hires, long runway, big impact03:50 Under-hiring on Purpose: Why Index rarely hired GPs straight out05:10 The Operations Edge: Building support teams early pays dividends07:00 The Index Blueprint: Early days with David, Pascal, and a deep ops bench08:30 Institutional Memory: Capturing partner insights across the portfolio

Welcome to the Impact Highlight series, powered by EUVC, where we bring you the people and perspectives shaping European venture.This week, August is joined by Emma Steele (Partner at Ascension) and Emily Trant (Head of Impact at Wagestream), two of the most vocal champions for mission-aligned tech in Europe.In this episode, we explore the nuances of building and backing commercial businesses that generate genuine social value. Emma and Emily reflect on where the commercial model does work for impact, where it doesn't, and why intent matters as much as outcomes.From designing products that serve vulnerable users to structuring impact advisory boards that challenge you, this is a real look into how impact venture plays out at the fund and founder level.

Welcome to a new episode of the EUVC podcast, where Dan Bowyer and Mads Jensen of SuperSeed and Lomax from Outsized Ventures, gather to unpack the macro forces and micro signals shaping European tech and venture.This week, the trio tackles one of the most geopolitically charged, capital-heavy, and morally complex episodes yet:

Welcome to a new episode of the EUVC Podcast, where we bring you the people and perspectives shaping European venture.This week, Andreas Munk Holm sits down with Paolo Pio, co-founder and Managing Partner at Exceptional Ventures — a mission-driven early-stage fund investing in the future of human health, fitness, nutrition, and longevity.Paolo shares how a personal obsession with sleep, metabolism, and fitness evolved into a structured thesis for investing in businesses and technologies that help us live better, longer — and how Exceptional Ventures plans to back over 200 founders across three funds to deliver returns that match the mission.

In this episode, Andreas Munk Holm sits down with Björn Tremmerie, Head of Technology Fund Investments at the European Investment Fund (EIF), live from the EUVC studio at SuperVenture 2025.They delve deeply into the true state of European venture capital, examining long-term performance trends, the role of EIF as Europe's policy-aligned capital allocator, and how sovereignty, resilience, and maturity are reshaping the ecosystem.Here's what's covered:00:00 SuperVenture Loyalty & Ecosystem Energy01:02 The Mood in Market: Storms, Maturity & Resilience03:04 What Makes This Moment in Venture a Real Opportunity03:31 Recap of Björn's Panel with Joe from Isomer05:15 DPI Truths: The Top 50 Funds & A Look Back to 201706:04 Defense Tech & Dual-Use: What EIF Will (and Won't) Fund09:34 Sovereignty ≠ Isolation: The Real Role of the EIF11:00 Later-Stage Funding Gaps & Europe's Infrastructure Problem12:36 Satellites, SpaceX & European Strategic Dependencies14:14 Learnings From 25+ Years in the Game15:01 Philosophical, But Practical: What VC Responsibility Means16:17 A Clear Statement on Openness, Not Isolation

In this episode, David Cruz e Silva sits down with Andre de Haes, founder of Backed VC, live from SuperVenture 2025 in Berlin.Backed is one of Europe's boldest early-stage funds, known not just for investing in frontier tech but for pioneering a new model of VC community. In this conversation, Andre unpacks the philosophical and practical foundations of their work—from turning a value-add into a moat to why “edge” in venture is mostly a myth—unless you build your own rules.Who should listen:Emerging managers figuring out how to build true differentiationLPs trying to evaluate durable edge in a saturated VC marketFounders deciding what kind of capital partner they want long-termHere what's covered:00:00 Who is Andre de Haes & What is Backed VC?00:32 Frontier Tech Focus: Fintech, Bio, and Manufacturing Software01:30 Why Community is a Core Offering—Not a Side Show02:15 Behind the Scenes: The SuperVenture Speaker Dinner & Rooftop Surprise04:00 Playing the Long Game: Trust Built Over 20-Year Cycles05:08 Stage Preview: What it Means to Build VC Edge07:50 Advice for LPs on Identifying Real Differentiation10:50 Biggest Learnings: Humility, Leverage & Contrarian Courage15:00 Investing at the Frontier: Computational Bio, Optics & Non-Invasive Brain Tech16:00 What Munger & Buffett Teach Us About Capital Efficiency in VC

Live from SuperVenture 2025 in Berlin, Andreas Munk Holm sits down with Jan Miczaika, Partner at HV Capital, one of Europe's largest and longest-standing venture capital firms.Together, they talk about macro trends shaping the future of VC, HV Capital's unique positioning across funding stages, and offer a refreshingly honest take on ESG, DEI, defense, hype, LP dynamics, and the challenges of building a VC fund.This episode is a must-listen for:LPs trying to understand how established firms see the worldEmerging managers finding their product-market fitFounders building across deep tech, defense, and climate

Welcome to a special emergency episode of the EUVC podcast, where Andreas Munk Holm sits down with Cathy White founder of CEW Communications and her star colleague and former tech.eu managing editor Dan Taylor —two of the most plugged-in voices in European tech media —to dissect the shocking news of TechCrunch Europe's closure and what's ahead.In this raw and real conversation, they unpack:Why TechCrunch's downfall signals something bigger in mediaWhat the rise of AI means for journalists, PR pros, and founders alikeAnd how Europe's startup ecosystem can—and must—take charge of its narrativeFrom the role of creators and newsletters to the shift from SEO to “LEO,” this one's for anyone building in, writing about, or pitching European tech.Here's what's covered:00:10 The Impact of TechCrunch's Closure on European Media06:33 The Future of Media in Europe10:30 The Rise of Entrepreneurial Journalism15:46 Navigating the New Media Landscape for Startups18:06 The Shift from SEO to LEO in Media Strategy23:13 Making Complex Ideas Accessible27:18 The Role of PR in the Age of AI29:31 The Importance of Human Touch in AI33:12 AI's Impact on Content Creation and Journalism39:37 The Future of Journalism and New Publications

In this episode, David Cruz e Silva sits down with Joe Schorge, founder of Isomer Capital, one of Europe's most thoughtful and active LPs—backing funds, co-investing with top GPs, and increasingly leaning into secondaries.From deep dives into the maturing European tech ecosystem, to the reality of what “liquidity” means today, Joe shares what it takes to build long-term portfolios and navigate cycles with wisdom (and a little humor).Who should listen:LPs thinking through secondary exposure and portfolio liquidityGPs raising new funds with legacy tailwinds (or baggage)Founders and angels curious about how liquidity really works behind the scenesHere's what's covered:00:00 Meet Joe Schorge & Isomer Capital's model00:31 Why SuperVenture is ground zero for LP/GP dealflow01:30 A New Era of Secondaries: From passive to proactive02:55 "It's not a return until you can buy a beer with it."

In this episode, David Cruz e Silva sits down with Matthew Spence, Barclays' Global Head of Venture Capital Banking, to talk about the state of exits, dual-use tech, and how Europe can seize the next defense innovation wave. With a background spanning the White House, Pentagon, and a16z, Matt shares a unique view from the intersection of global power, technology, and venture.Who should listen:GPs working with later-stage companies or exit-readinessLPs and allocators curious about dual-use and defense opportunitiesPolicymakers and ecosystem builders across EuropeAnyone wondering how venture intersects with geopoliticsHere's what's covered:00:00 Meet Matt Spence & why Barclays is doubling down on venture01:00 SuperVenture 2025: Why Berlin matters to a Silicon Valley banker01:39 “Sneaky good”: The IPO market is back—but not how you expect03:00 How GPs can prep for exits—before they're even on the table04:00 Barclays as an LP: What their private bank is looking for05:10 Defense tech: From bombs to AI & cloud for the battlefield07:00 “The government is a terrible customer”—but that's changing08:30 Dual-use: Why it's not code for defense and shouldn't be10:00 The real opportunity for Europe: leapfrog, don't lag12:30 A wake-up call for Brussels and national leaders15:00 The return to deep tech: hardware + software, redux16:45 Why this isn't just a new trend—it's a venture returning to its roots

Welcome to a new episode of the EUVC podcast, where Dan Bowyer and Mads Jensen of SuperSeed and Lomax from Outsized Ventures gather to unpack the macro forces and micro signals shaping European tech and venture.This week, the trio tackles one of the most geopolitically charged, capital-heavy, and morally complex episodes yet:The global reshuffling of power: Israel, Iran, Russia, and UkraineWhy defense is back—and what it means for VCsEurope's space ambitions and what the ESA's new satellite project signalsChina's trade plays and Europe's vulnerability in rare earthsAI, IPOs, and why founders might want to stay private longerSurgical robots, ambient AI, and who's building the future of healthcarePlus: Daniel Ek gets flak, SPACs sneak back, and why VCs are now speed-running $15B deals in one week.Here's what's covered:02:00 War & Markets: Iran, Israel, oil prices & Bank of England holds06:00 Defense Budgets: Why Europe is (finally) spending10:00 VC Taboo: Why investing in weapons gets complicated fast15:00 EIF Restrictions: Sex, gambling, and no defense20:00 The Rise of Helsing: Europe's $12B defense unicorn24:00 Strategic Autonomy: Europe's new military satellite constellation30:00 ESA vs. Starlink: Earth observation gets serious34:00 China, Trade Wars & Rare Earths: Why Europe's exposed40:00 EU-US Tariffs & Trump's Pharma Threat42:00 IPO Boom: Chime, Circle, and the SPAC comeback47:00 CMR Surgical: UK's $4B robot exit—is that enough?53:00 Lessons from Intuitive Surgical & deeptech M&A56:00 Deal of the Week: Nabla's AI for clinicians, Helsing, and Scale AI's lightning-fast cash01:02:00 Founders in Government: Alex DePledge & Matt Clifford's impact01:05:00 Meta's AI Transfers: Zuck goes full football transfer window

Welcome to a new episode of the EUVC podcast, where we bring you the people and perspectives shaping European venture. This week, Andreas is joined by Christophe Jurczak, Managing Partner at Quantonation, the world's first dedicated quantum technologies VC fund.Together, they unpack the tangible, applied promise of quantum technologies—far beyond the hype—and discuss why Europe may still win in this deep tech arena if capital (and courage) show up at the right time.This week's themes:Real-world quantum use cases in health, energy, climate, and securityThe rise of quantum internet and the race to secure communicationsHow interdisciplinary talent makes or breaks applied quantum venturesWhy late-stage capital remains quantum Europe's biggest bottleneckHere's what's covered:01:30 Quantum Is Real: Health, energy, climate & security02:45 Quantum Drug Discovery: Pascal & Qubit Pharmaceuticals05:00 Simulation Power: Designing less toxic, more effective molecules06:45 Quantum Internet: Unhackable infrastructure deployments in NYC & Berlin08:30 Why Encryption Is Under Threat—And What Quantum Does About It10:00 No Cryo, No Labs: Room-temp quantum machines are here11:45 Talent Mix: Why computer scientists + physicists = startup advantage13:30 ML on Quantum Hardware: Graph ML and novel quantum algorithms15:00 Europe's Competitive Edge: IQM, Pascal, and more16:30 The Real Risk: Growth-stage capital and the transatlantic gap18:00 Quantonation's Vision: A future late-stage fund for European quantum19:00 Final Thoughts: Sci-fi vibes, real-world traction, and a rallying cry

In this new episode of Path to Market, our Director Natasha Lytton and co-host Micah Smurthwaite, Partner at Pipeline Ventures, sit down with Tim Bertrand — a three-time GTM leader who's scaled companies from just a few million to hundreds of millions in revenue. Currently serving as President of HAProxy, Tim previously held sales leadership roles at Acquia and Project44, and brings deep insights into category creation, founder-led sales, sales hiring, and international expansion.Tim walks us through his career of building sales engines from the ground up — including Acquia's leap from $2M to $200M+ ARR — and explains why he keeps coming back to the early-stage trenches.He also shares actionable advice for founders: when to hire (and who to hire) in your first sales roles, how to think about pricing in new markets, how to align product and GTM, and what great onboarding and sales coaching look like.Here's what's covered:05:00 Early-Stage Sales: Why Tim Keeps Coming Back07:12 Structuring Your First Sales Hires09:44 Traits of Great Early-Stage Sellers13:00 Does Domain Expertise Matter?15:28 Best Practices for Sales Onboarding17:48 Sales Methodologies: MEDDICC & BANT22:14 Creating Real Urgency in the Sales Cycle30:23 Value-Based Pricing & Market Signals38:09 Building a Business Around Open Source42:16 Sales Methodologies for Founders43:40 Hiring a CRO: When & What to Look For

In this episode, Andreas Munk Holm, Dr. Daniel Carew, and Sebastian von Ribbentrop discuss the critical importance of defense and strategic technologies in Europe. They explore Join Capital's investment thesis, the complexities of dual-use technology, and the intersection of technology, defense, and geopolitics. The conversation also touches on the impact of the Ukraine conflict on European defense strategies and the evolving landscape of venture capital investment in this sector.Here's what's covered:18:55 The Evolution of Join Capital's Investment Thesis24:01 Understanding Dual-Use Technology in Defense28:49 Navigating the Commercial and Defense Markets34:01 The Role of Geopolitics in Defense Investments38:09 Geopolitics and Personal Connections41:29 Complexity of European Defense and Innovation45:10 The Shift in Global Power Dynamics48:06 Defense Washing vs. Genuine Innovation52:55 Investment Strategies in a Changing Landscape59:47 The Future of Defense Post-Ukraine Conflict

In this episode, Andreas Munk Holm and Jeppe Høier sit down with Nicole LeBlanc, Partner at Woven Capital, the $800M growth-stage CVC fund backed by Toyota. They unpack what it takes to drive real strategic and financial outcomes in corporate venture — and what founders and GPs often get wrong when working with CVCs.Nicole shares how Woven structures its global operations, works hand-in-hand with Toyota's business units, and leverages a portfolio success team to shepherd startups through complex corporate dynamics. She also breaks down Woven's investment logic, from hydrogen to lunar rovers — and why corporate alignment shouldn't come at the cost of independence.Here's what's covered:00:40 – The structure of Woven Capital & its relationship with Toyota03:00 – How Toyota Ventures (early-stage) and Woven (growth-stage) complement each other09:45 – Building internal bridges: the Portfolio Success team model13:15 – Toyota's internal incentives (and the carrot vs. stick approach)15:10 – The CVC cultural challenge: Japan, US, and Europe21:40 – How to spot a “red flag” CVC as a founder31:30 – Toyota Open Labs: a new playbook for startup-corporate collaboration34:00 – Woven's LP strategy: investing in funds for access, insight & geography39:00 – Learnings from fund investing: what CVC LPs need from GPs42:00 – Final advice for startups and corporates alike

In this conversation, David Cruz e Silva sits down with Dario de Wet, Founding Partner of LTV Capital, a next-generation fund-of-funds reshaping the LP-GP landscape through intentional, hands-on support for emerging managers, especially in underserved and global markets.Together, they unpack what it takes to stand out as an emerging VC manager today, how LP sentiment is shifting across continents, and why democratizing access to venture capital remains fraught with friction.

At the EUVC Summit, Will McQuillan of Frontline delivered a keynote that flipped the script on the increasingly popular narrative of Europe needing to "decouple" from the US. With data points, historical context, and a call to action, Will urged VCs and founders to resist isolationist instincts and double down on building global companies, despite rising geopolitical noise.Rather than succumbing to isolationist trends, this talk urges the venture community to reclaim a global mindset, reminding us that the best companies are built across borders, not within them.Whether you're in venture, policy, or portfolio support, this is your reminder that global ambition still matters—and it's up to investors to make it possible.Here's what's covered:00:50 US Revenue Reliance: A warning or a reality check?02:30 The Case Against Isolationism: Why Europe can't afford to go it alone04:15 Historical Proof of Collaboration: From deep-sea cables to the Large Hadron Collider06:00 Policy vs Practice: Why builders must rise above political narratives08:10 VC's Role in the Globalization Equation: Making international scale possible again

Welcome to a new episode of the EUVC podcast, where Dan Bowyer and Mads Jensen of SuperSeed and Lomax from Outsized Ventures gather to unpack the macro forces and micro signals shaping European tech and venture.This week, the trio dive into:Why cyber preparedness is a growing boardroom concernThe overlooked fragility of Europe's energy systemsHow automation, AI, and policy are colliding in the UKEurope's capital gap—and the uncomfortable truth behind itPlus: OpenAI margins, startup resilience, and robotaxis in LondonHere's what's covered:02:00 Cybercrime as a Macro Risk: Are We Sleepwalking into Crisis?06:10 Iberian Blackouts & Energy Fragility09:00 Immutable Ledgers, AI & Infrastructure Resilience11:15 UK's £2B AI Action Plan: Where's the Real Bravery?14:20 Nuclear Woes: The True Cost of Delay17:40 Marginal Cost Pricing & the Renewable Conundrum20:30 Tesla's Robotaxi Vision & a $40K Price Tag22:00 Wave x Uber Deal: Level 4 Autonomy Comes to the UK24:00 Brexit's AV Dividend? The UK Races Ahead of the EU26:30 Europe's Capital Gap: Funding or Fundamentals?29:00 OpenAI's Gross Margins & Startup Implications31:30 Incumbents Strike Back: Why Big Tech Moved Faster34:00 Startup Opportunity in the Next Wave of AI35:40 European vs. US Startup DNA: Who's Built to Win?37:30 Final Thoughts & Condolences on Global Tragedies

In this episode, Andreas Munk Holm is joined by Joe Seager-Dupuy and Mike Martin, General Partners at True Global, a £1B investment firm focused on consumer and retail, to explore how AI transforms how consumer businesses are built, scaled, and experienced.They unpack why consumer AI is more than a buzzword - it's unlocking entirely new market categories, reshaping broken UX flows, and expanding the definition of addressable markets. From agentic software and hyper-personalized health stacks to defensibility through data, brand, and workflow, this episode offers a deep dive into how to build and invest at the intersection of frontier tech and human behavior.Here's what's covered:07:27 Exploring Consumer AI Innovations14:47 Challenges and Opportunities in Consumer AI20:27 The Path to Agentic Business Models25:27 Building Optionality in AI Products26:23 Case Study: Superhuman's Agentic Email System28:10 The Velocity of AI Announcements31:10 Defensibility in Consumer AI39:15 AI's Impact on Consumer Company Operations43:07 The Disruption of Incumbents by AI Startups

In this episode, Andreas Munk Holm and Jeppe Høier sit down with Zack Weisfeld, the founding force behind Intel Ignite (now Ignite Deep Tech), to explore the evolution of one of the most respected deep tech accelerators in the world. From reinventing how corporates engage with startups to pioneering a "co-founder as a service" model, Zack shares what it takes to build real bridges between enterprise and entrepreneurship.Here's what's covered:03:10 Why Intel Chose to Spin It Out—And How the Ecosystem Reacted06:15 The Three Pillars: Seed, Pre-Seed, and Ideation Programs08:00 What Most Corporate Accelerators Get Wrong11:40 Co-Founder as a Service: A New Model of Acceleration13:25 Why Corporate Mentorship Works When Done Right19:40 Lessons from 14 Years of Building Accelerators26:20 How Mentorship Creates Internal Champions30:15 Aligning Startup Success with Corporate Transformation35:10 Why Mental Health Support for Founders Is a Strategic Imperative

In this special episode, we welcome back Patric Hellermann to dive deep into the concept of edge in venture capital. This isn't your average discussion on differentiation—it's a methodical breakdown of what creates enduring alpha for fund managers, grounded in Patric's experience building Foundamental, a B2B-focused early-stage VC.This episode is for anyone asking: How do I build an edge that scales? You'll leave with answers rooted in practice, not theory.Here's what's covered:02:30 What Makes an Edge? Why Most VCs and LPs Struggle to Answer06:15 The 4 Steps of VC Value Creation: Sourcing, Picking, Winning, Managing12:45 What Founders Want: How to Make Yourself the First Call17:10 DPI Over Hype: Why Patrick Optimizes for Liquidity, Not Likes21:20 Empathy, Proximity & Pattern Recognition: What Most European Funds Get Wrong28:35 Pan-European Funds & the Pitfalls of “Routine-Free” Investing34:40 Why Distribution Beats Product: Lessons from Category Leaders41:25 Fund Design That Scales: GPs with Domain Depth Over Generalism53:30 Prioritization as a Superpower: How to Build With Focus1:00:45 National vs Global Champions: How LPs Think About Risk and Follow-On Capital

In this episode, Adriana Stan is joined by Jon Coker, founding partner at Eka Ventures, to unpack how the team behind the £68M Fund I has backed 21 early-stage companies driving systemic change in consumer health and sustainable consumption.They dive into the team's shift from MMC Ventures to launching a new kind of impact fund, the lessons learned from backing 3 unicorns, and why founder learning velocity is Jon's No. 1 metric for long-term success.Eka Ventures is an early-stage VC fund with a clear mission: to back the founders building a more equitable, sustainable future with business models that scale both shareholder value and societal return.Here's what's covered:01:50 Jon's journey from analyst to co-managing partner at MMC05:15 Launching Eka Ventures: why impact needs its own home08:30 Choosing the themes: consumer health & sustainable consumption12:45 Building conviction around shared value16:00 Distribution in health: why access is half the battle19:25 Generalist vs. Specialist: where Eka fits in23:10 Fund I analysis: what worked and what didn't27:45 Operating in the “real world”: why it's harder, but worth it30:10 Lessons from unicorns and founder growth34:00 The problem with how VCs evaluate “team”

In this episode, Andreas Munk Holm sits down with Philippe Petitpont, co-founder & CEO of Moments Lab, and Gökçe Seylan, Principal at OX, for an insider conversation on the future of video AI and how Europe is producing vertical champions with real traction.Fresh off a $24M scale round, Philippe walks us through the evolution of Moments Lab from metadata indexing to full AI-powered video agents. Gökçe shares why this was a must-invest opportunity for OX and what the company's journey reveals about product-market fit, global GTM, and the rise of vertical AI platforms in Europe.This one's a must-listen for anyone building at the intersection of AI, SaaS, media, and enterprise.Here's what's covered:04:00 Understanding 1 Million Hours of Video: Why AI was the only answer07:00 Why ChatGPT Can't Win This Market: Vertical depth vs. horizontal power10:30 Real Video vs. Synthetic Content: Where emotion, IP, and accuracy still rule16:00 Rights Management in Video AI: How Moments Lab handles ownership at scale21:10 What Is Agentic AI? From prompt to production, with real content27:30 The VC Perspective: Why OX backed this team at scale31:00 From Startup to Scale-Up: Going enterprise, going US36:30 Business Model Design: Why they price by hours, not seats44:00 Scaling from Seed to Series A+: Building infrastructure, not just growth49:30 Being a European Deeptech Founder: Talent advantages, GTM challenges54:30 The Rise of European Vertical AI: Legal, industrial, cyber—and now video

Welcome to a new episode of the EUVC podcast, where Dan Bowyer and Mads Jensen of SuperSeed and Lomax from Outsized Ventures gather to unpack the macro forces and micro signals shaping European tech and venture.This week, the trio dive into:Why Europe's fiscal firepower could be its unfair advantageThe growing exodus of IPOs from the UK to the USStrategic defense investment—can the UK move the needle?How AI and capital markets are collidingAnd yes, we close on psychedelics and patient-first biotech breakthroughsHere's what's covered:02:15 Europe's Fiscal Advantage: Why Better Balance Sheets Matter for Innovation07:00 The Return of Low Rates: What It Means for Startups11:20 London vs. New York: The IPO Drain17:00 Why Capital Leaves: Liquidity, Coverage & the Search for Growth21:30 Rebuilding the UK Market: The Case for LP Allocation Reform25:50 Beyond IPOs: The Full-Stack Capital Problem30:40 AI and Lawsuits: Welcome to the New Frontier33:10 Defense Tech Heats Up: Drones, AI & Strategic Capital38:40 Can the UK Compete? Global Arms Races & National Reviews42:30 Liquid Biopsies & Healthcare Breakthroughs46:20 NHS Efficiency Crisis: More Money, Worse Outcomes50:30 Psychedelics on the Edge: Awaiting the Data Drop

In this episode of Path to Market, Seedcamp's Natasha Lytton and Pipeline Ventures' Micah Smurthwaite are joined by Gia Scinto, Partner at The Cole Group and one of the most seasoned go-to-market talent experts in tech. Gia has helped build out executive teams at category-defining startups like Stripe, Airbnb, Datadog, Canva, and Confluent — and previously led talent at Y Combinator and Andreessen Horowitz.Gia shares hard-earned lessons from years of recruiting top-tier GTM leaders and partnering directly with founders at every stage, from pre-seed to IPO. In this conversation, she breaks down how to hire your first sales leader, how to evaluate candidates for stage fit and values alignment, and how to avoid common hiring pitfalls that can cost startups months of momentum.From sales methodology and hiring frameworks to founder mindset and onboarding tactics, this episode is packed with tactical insights for founders, operators, and investors alike.Here's what's covered:02:34 Building the First GTM Talent Function in VC06:25 From a16z to YC: Supporting Founders Across Stages09:42 First Sales Hire vs. Later-Stage Leadership13:38 The Anatomy of a Great Recruiting Process22:26 Best Interview Questions for Sales Roles29:45 How to Pitch Senior Candidates at Early Stage33:39 What GTM Leaders Want to Hear44:35 Why Sales Hires Fail — and How to Avoid It47:36 Systems, Team Design & Ops from 0 to $10M51:42 Advice for GTM Candidates: How to Pick Your Next Role

If you came expecting a neat keynote, you were in for something else entirely.What he gave us instead in fourteen minutes was part sermon, part therapy, and part existential gut check for anyone shaping the future.Here's what stuck:“This isn't a rehearsal.”Fred opened with vulnerability: standing in front of his peers, in a room that lives and breathes venture, ready to say the uncomfortable things.He asked us to zoom out—to consider the power we hold as people who don't just fund companies but shape the narratives that shape the future.“We sit in the cockpit alongside the founders. That's where creation happens now. That's our canvas.”But with that power comes disorientation. Because the world we're building into? It's fragmented. Conflicted. Loaded with moral confusion.On Truth, Power, and the Collapse of Shared NarrativesFred pulled no punches.“Historically, we had shared systems for truth. Religion. Philosophy. Math. But now? Everything's been deconstructed. Lived experience replaced truth. Everything's power.”Welcome to the legacy of critical theory. Foucault, Derrida—ideas that once helped explain systems of oppression have now left us with... nothing to agree on.“We're left in a nihilistic landscape. Everything is a power struggle. There's no shared center.”And it's not just academic. It unfolds in cycles of outrage, weaponized identities, and moral ambiguity. Tech doesn't escape this, it amplifies it.The Algorithm Doesn't Care About Truth“We thought more information meant more truth. It doesn't.”Truth, Fred reminded us, is costly. Outrage is cheap. And platforms optimize for what's fast, not what's real.“A four-second tweet can destroy someone's life. Investigative journalism takes months.”Now, enter AI. Beautiful, powerful—and deeply destabilizing.“We're staring at it like it's the sun or a cobra. We don't know what it is yet. But it's changing the rules faster than we can track.”The Danger of Playing Games We Don't Know We're InA warning:You may think you're being righteous. You may think you're being helpful.“But maybe you're playing a social game. Maybe you're being used. And maybe you don't even know it.”In a world where narratives shift daily, we often end up reinforcing the very dynamics we oppose.“You want to call out a Nazi salute online? Be careful. You might just normalize the thing you hate.”So Where Does That Leave Us?In a word: Stewardship.Fred closed with a challenge:“This is the most powerful tool mankind has ever created. What the fuck are we doing with it?”We're not just funding innovation. We're authoring meaning. In an anxious world, that's a profound responsibility.One Last Question (That Stuck With Us All)“What is the quality of the conversation we're having?”With ourselves. With each other. With our founders. With the world.Because if we don't ask that, the rest doesn't matter.

In this episode, Andreas Munk Holm sits down with Kamel Zeroual, GP of Varsity, one of Europe's boldest new funds out of Paris. Varsity is making waves—not just for their ambition to build a pan-European fund with global aspirations, but for already closing €120M+ toward a first-time fund targeting €150M.Kam breaks down what makes Varsity different: a team with deep operator and investor experience, a track record spanning over 100 startups, and an agnostic but conviction-led strategy focused on next-gen SaaS, fintech, healthtech, and climate.

In this episode, Andreas Munk Holm talks with Gloria Baeuerlein, founding partner of Puzzle Ventures, about building a solo GP model rooted in high-conviction, ultra-early B2B investing. From AI-native SaaS pricing to capital-efficient pre-seed strategies, Gloria breaks down how she's crafting a differentiated firm in one of Europe's most competitive venture environments.They unpack why capital is commoditized, how solo GPs can outperform larger seed funds, and what it takes to design a fund around personal strength, not industry templates. If you're building a fund, raising one, or just want an inside look into how modern venture firms are architected, this one's for you.Here's what's covered:03:20 How AI Is Reshaping SaaS: Delivery, Pricing, and UX07:30 Pricing Models in Construction Tech and Outcome-Based Sales09:45 The Shifting VC Landscape: Seed, Multi-Stage, and Angels12:30 Differentiation in VC: Finding Your True Value-Add14:40 Building a Fund Around Strengths, Not LP Preferences22:50 The Competitive Landscape: Seed Funds vs. Solo GPs24:15 Operational Differences: Solo GPs vs. Multi-Stage Funds30:00 Fund Model, Ownership, and Return Expectations38:20 Firm Building as a Solo GP: Who to Lean On42:26 Will Puzzle Always Be a Solo GP Fund?

In this episode, Andreas Munk Holm sits down with Rina Onur, co-founder of Peak and formerly of 500 Istanbul, for a raw and rare conversation about stepping back as a VC partner—and what it takes to switch hats between operator and investor. Together with Enis Hulli, they unpack the story behind Rina's exit from fund management, her next chapter with Spyke Games, and the unique DNA behind Turkey's explosive gaming ecosystem.This one's both personal and analytical—a crash course in partnership dynamics, performance-driven ecosystems, and what founders truly need from their VCs (and what they don't).Here's what's covered:02:00 Rina's Back-and-Forth Journey: From Private Equity to Peak, Back to VC, and Out Again08:20 The Emotional Weight of Short-Term Partnerships11:15 How to Offboard Gracefully as a VC Partner13:10 What Rina Hated About Venture Capital15:25 Fundraising Fatigue & Convincing Dozens vs. One21:40 Why Gaming Became Turkey's Breakout Sector24:15 Local vs. Global Success Stories: Turkey, Poland & Beyond29:50 Serial Founders vs. Untapped Talent: The Two Sides of Portfolio Building36:30 Geographic Advantage: Why Local VCs Still Matter41:30 State-Backed Ecosystems: What Works, What Doesn't49:00 A Candid Ending: Offboarding, Vulnerability & Starting Over

In this episode, Dan Bowyer, Lomax, and Mads Jensen reunite to talk about the stories behind the headlines - Trump's tariffs, EU's sluggish startup strategy, the Anthropic surge, and why Europe's hardware design hopes might rest on Munich.From missiles interrupting pool time in Tel Aviv to Nvidia's record-breaking quarter, the crew tackles everything from macro trade wars to micro founder incentives—plus a healthy dose of sarcasm, realpolitik, and startup survival.Here's what's covered:04:30 Tariffs, trade wars & what it means for European startups08:15 Harmonization vs. regulation: Why EU/US divergence matters10:55 Tariffs & inflation: Why macro still rules the game13:10 The public/private schism and bond market dismay21:45 The EU startup plan: blue carpets, unicorn labs & old ideas26:00 Talent, tax & the fight for Europe's future founders29:30 Why Munich might be Europe's next deep tech capital31:00 Big tech flexes: Google, Anthropic, and the return of hardware35:00 Vibe coding & SaaS disruption: The new normal?41:00 AI agents, Nvidia blowouts, and the pace of change45:20 Deal of the Week: Brightflag exits for $425M57:00 Why the crew skipped SuperVenture to actually build stuff

In this episode, Andreas Munk Holm sits down with Etienne, co-founder and GP at Intuition—a new €10M fund focused on pre-seed and seed investments in consumer, prosumer, and B2B2C startups across Europe and the US. From chasing the NBA dream to raising a fund for overlooked sectors, Etienne shares the founder's journey behind the fund, his obsession with AI-native products, and why consumer investing needs a new generation of believers.Here's what's covered:02:20 From Pro Basketball to Founding Intuition05:11 Discipline, Resilience & Pain Tolerance: The Athlete's Edge08:30 Why Obsession Beats Talent Every Time13:13 Recalibrating After Burnout: Life Beyond the Grind19:13 Why Building a Fund Is Just Another Startup24:41 Building a Portfolio to Survive Volatility36:46 The Return of the Capital-Efficient, Profitable Company41:14 Why Intuition Plans to Stay Small (on Purpose)46:00 Create Like a God, Connect Like a Human: The New Founder Paradigm50:11 Multitask or Die: Surviving in the Agentic Age of AI

In this episode of the EUVC podcast, Andreas Munk Holm is joined by LP Evan Finkel and Cocoa's Carmen Alfonso to explore the gritty, unvarnished truth about what it takes to raise a venture fund today. They unpack the fundraising myths that mislead first-time GPs, the pitch deck traps that instantly raise LP eyebrows, and the misunderstood concept of “edge” that too often becomes just another slide.Together, they dive into the uncomfortable but essential lessons that don't get talked about enough—why brutal feedback is a gift, why preparation is a differentiator, and why your real superpower probably doesn't look good on LinkedIn. From fake timelines to founder references and chocolate brand storytelling, this one's for every emerging manager looking for clarity in the fog.Here's what's covered:03:04 Why Brutal Honesty in Venture Matters More Than Ever05:44 The Myth of the Effortless Fundraise (and Who It Hurts)08:04 Preparation Is a Superpower—Not Just Talent12:48 What LPs Want to Know16:23 The VCX Framework: Edge ≠ Thesis19:55 Superpowers Are Personal—Not PR26:58 The Case for Being an Outlier (or Not Doing VC at All)30:22 How LPs Evaluate GPs on Call #135:47 Red Flags in Decks That Make LPs Cringe41:52 Polish vs. Substance: What the Deck Signals

In this episode, August Solliv and Douglas Sloan speak with Cyril Gouiffès, Head of Social Impact Investments at the European Investment Fund (EIF), to explore what distinguishes authentic impact fund managers from the growing crowd. From team composition and investment discipline to LP expectations and impact integrity, Cyril shares a candid perspective shaped by years of experience at the intersection of public capital and private markets.Together, they unpack what EIF looks for when backing emerging impact managers, why team dynamics matter more than ever, and how the market can defend against “impact washing” as the sector matures.Here's what's covered:01:00 – Why Cyril's early influences shaped his mission-driven investing lens04:15 – From altruism to efficacy: lessons from failed NGO models06:20 – The rise of genuine dual-performance funds post-201408:45 – Why team quality is the #1 differentiator in impact VC17:30 – EIF's role in supporting first-time, emerging managers20:10 – Why impact metrics must tie to the business model23:15 – The dangers of forgetting your impact thesis post-fundraise26:00 – Impact failures vs. financial failures: lessons learned28:00 – Why LPs must stay engaged beyond the fundraising stage33:15 – State of fundraising: too many funds, not enough capital35:20 – The call for impact pioneers: back to the original thesis

If you tuned in hoping for crisp conclusions on fund performance, you may have left empty-handed.But if what you came for was a razor-sharp, high-stakes debate on the mechanics of venture economics—then this was your moment. Fourteen minutes of fierce dialogue at the EUVC Summit, and not a second wasted.Here's how it went:“If you're drawing any conclusions from those data sets... be my friend. But we won't do that.”Why? Because the data is still messy. Still underpowered. And when you're modeling venture returns—especially for emerging managers—it's more art than science.But oh, did we try.This fast-paced exchange brought clarity (and fire) to a few of venture's most misunderstood dynamics:Why the $20B outcome is the new benchmark for greatnessHow fund size maps to percentile outcomesThe hard math behind Seed-to-Series A attritionWhy early-stage investing remains low-probability but high-upsideAnd the eternal debate: do emerging managers truly outperform, or just dominate a distorted sample?"If you're really needing data to prove that model—it does not exist.”We'll get back to that.

In this episode, Andreas Munk Holm is joined by Jeremy Uzan, co-founder and GP at Singular, for a look at how a “plain vanilla” approach to venture—driven by deep founder focus and relentless performance orientation — can be a powerful advantage. Together, they unpack the mechanics behind Singular's model, how the team stays agile without a rigid thesis, and what it means to create an empowering internal culture. Singular is an early-stage venture capital firm born in Europe, committed to empowering European founders with global ambitions across all sectors, from Seed to Series B, with a strong focus on Series A companies.Jeremy also shares his evolving views on European talent, the rise of Paris as a startup epicenter, and why he believes we're only just beginning to unlock the entrepreneurial potential of Europe's scientific minds.Here's what's covered:02:00 – Should Generalist VCs Still Exist in Europe?07:10 – Fundraising Like a Founder: How LPs Backed Fund I and II14:00 – Why Generalist Isn't a Weakness—It's Strategic16:25 – Diversification vs. Focus: Squaring LP Needs with Performance21:15 – Temporary Specialists: Sprinting Deep Into Sectors24:20 – From Zero to One on Markets: Learning via Founders27:15 – European Talent Post-COVID: What's Changed30:00 – Paris Joins the Core of the European Ecosystem35:15 – The Rise of Science Entrepreneurs in Europe39:00 – Why Bio is the Next Big Tech Frontier

In this episode, Andreas Munk Holm sits down with Nebular GP Finn Murphy. From launching Nebular after FTX's collapse to backing AI, data centers in space, and fossil startups, Finn shares the unpredictable and highly personal journey of building a fund from scratch. A manifesto for curiosity-led investing emerges, as does a bold vision for reshaping European venture and policy.Here's what's covered:01:25 Leaving Frontline, Launching Nebular, and Solo GP Life03:45 Fund One in the Nuclear Winter of VC Fundraising06:30 A Thesis of Curiosity: No Theme, Just Timing, Talent & Tails09:50 From Healthcare Ops to AI Teddy Bears to Fossil Markets16:10 Strategy Drift, Authenticity, and Embracing the Unknown18:30 Being a Solo GP Without Being Alone21:00 How Long Can You Be Great? A Venture Career as Athletic Peak27:30 Europe vs. US: Talent, Incentives, and Risk Appetite35:40 Project Europe, EU Inc & Why Attitude Is the Real Bottleneck44:00 Yes, Tech Should Get Political

In this episode, Andreas Munk Holm talks with Kasper Hulthin, co-founder of Kost Capital and Future Five, to unpack what it takes to build food startups that change the system. Kasper argues that creating better food is not about crafting the perfect health product for the elite, but about designing for impact, scale, and real-world distribution.They explore why traditional VC models often fail food startups, how founders can balance purpose with platform thinking, and what it means to move beyond “more alternatives” into a world of more and better.Here's what's covered:00:45 – Why “more” food options doesn't always mean “better”03:30 – Why optimizing for Whole Foods isn't a scalable strategy06:20 – The ketchup analogy: exclusive vs. inclusive innovation10:15 – Scaling challenges: distribution, regulation, perception14:05 – What founders miss about consumer routines17:50 – Building platforms, not just products21:10 – The role of storytelling in transforming food narratives25:00 – What “better” really means: nutrition, access, equity

In this episode, Andreas Munk Holm is joined by Guenther Dobrauz-Saldapenna and Enrique Molina from Qi Impact Capital to explore how capital can be deployed with purpose to accelerate the circular economy. From personal stories to portfolio-level insight, this conversation shows how values-based investing can be compatible with venture returns.Guenther and Enrique unpack the urgency of systems change, how storytelling shapes capital flows, and why they believe Europe's sustainability movement is at a critical inflection point, despite the headwinds.Here's what's covered:02:18 Qi Impact Capital's Holistic Investment Thesis03:27 Guenther's Journey: From PwC to Circularity Champion05:34 Why Capital is the Catalyst for Circular Innovation06:37 Narratives, Regulation & the Sustainability Backlash08:50 Storytelling, Identity & Investment Decision-Making13:30 What ‘Conscious Capital' Really Means17:17 Case Studies: OceanSafe, Vital & ID Genève22:53 Designing Products for Reusability & Impact25:41 The Financial Returns Behind Circular Success29:45 Tensions in Consumer Behavior: Circular vs. Fast Fashion