Episodios

  • VC | E520 | I am only in venture, because I'm doing defense. I'm not in defense because I'm in venture

    VC | E520 | I am only in venture, because I'm doing defense. I'm not in defense because I'm in venture
    Jul 13 2025
    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 Archangel
    • 02:00 | Two decades of doing defense before it was cool
    • 04:00 | Why now? Why real defense? Why not just dual-use?
    • 07:00 | The war tech shift: tanks out, rapid iteration in
    • 10:00 | Ukraine’s ‘hourly sprints’—why on-the-ground matters
    • 13:00 | Deterrence, lethality & Europe’s strategic gap
    • 16:00 | When dual-use brands muddy the water (and why that’s risky)
    • 19:00 | The bullets & bombs dilemma: investing when LPs say no
    • 22:00 | Primes, vendor lock & the truth about the military industrial complex
    • 26:00 | ESG tensions: Europe’s extra layer of complexity
    • 30:00 | The pan-European Anduril myth—why it doesn’t map
    • 34:00 | Local vs. pan-European scaling: what’s realistic
    • 37:00 | Exit routes & why the big growth rounds go abroad
    • 40:00 | The flywheel we didn’t get to—coming in part two
    Más Menos
    47 m
  • VC | E519 | Building Europe's Corporate VC Playbook (episode with Francesco Di Lorenzo)

    VC | E519 | Building Europe's Corporate VC Playbook (episode with Francesco Di Lorenzo)
    Jul 11 2025
    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.

    🎯 This Podcast’s Themes:
    • From finance to strategy: Jeppe’s journey into venture
    • Why CVC is more organ transplant than M&A
    • How to survive 3 CEOs—and why you must
    • Fund of funds vs. direct investing: what’s trending in corporate venture
    • Building Europe’s corporate VC community: podcast, masterclasses, summits
    Here’s what’s covered:
    • 00:00 | From Interviews to the Interviewee: Jeppe in the spotlight
    • 02:00 | Auditor Turned VC: From PwC to CFO of a pan-European fund
    • 04:30 | The Maersk Years: Strategy, innovation, and the “immune system”
    • 07:00 | Organ Transplant Theory: Why CVCs often get rejected
    • 10:00 | Newsletter to Podcast: Building the EU CVC platform
    • 12:00 | The European Vision: A fragmented but collaborative ecosystem
    • 14:00 | Strategic vs Financial Tension: Why most corporates are confused
    • 16:00 | Global Case Studies: TDK Ventures, Woven Capital, Maersk Growth
    • 21:00 | The Pivot Playbook: Survive, evolve, stay relevant
    • 23:30 | How to Do CVC Right: From metrics to mindset
    • 25:00 | Fund of Funds 101: What corporates need to know
    • 27:00 | Advice to MBAs: Learn the craft, love the long game
    Watch it here or add it to your episodes on Apple or Spotify 🎧. Chapters for easy navigation are available on the Spotify/Apple episode.
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    31 m
  • VC | E518 | Julia Binder, Manuel Braun & Enrique Molina on Circularity as Strategy, Not Sustainability

    VC | E518 | Julia Binder, Manuel Braun & Enrique Molina on Circularity as Strategy, Not Sustainability
    Jul 10 2025
    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 mindset
    • 02:30 – Why current supply chains reward harm — and how venture can reverse it
    • 04:30 – Startups vs. corporates: Who’s best positioned to drive change?
    • 07:40 – 5 monetizable circular business model archetypes
    • 12:10 – What infra is needed to scale circularity?
    • 15:00 – Real-world startups & back-end enablers in resale, reuse & track-and-trace
    • 18:00 – Circularity: Horizontal lens or vertical category?
    • 23:00 – Where capital is flowing: Startups, funds & LPs getting serious
    • 26:00 – Hype cycles: AI ascendant, circularity under the radar
    • 28:00 – Building ecosystems: Infrastructure, co-opetition, and collective voice
    • 31:00 – Final call: Why everyone — from founders to family offices — must engage
    Más Menos
    44 m
  • VC | E517 | Jacqueline van den Ende & Dougie Sloan on rewiring capital for climate impact and making everyday investors part of the solution

    VC | E517 | Jacqueline van den Ende & Dougie Sloan on rewiring capital for climate impact and making everyday investors part of the solution
    Jul 9 2025
    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 pipes
    • Reimagining access: giving more people a seat at the capital table
    • The rise of the prosumer LP: conviction, education, and agency
    • Bridging alpha and impact without trade-offs
    • Redesigning private markets for participation at scale
    Here’s what’s covered:
    • 00:30 Jacqueline’s journey: from traditional VC to climate capital rebel
    • 02:15 The climate capital gap: why only 2% of VC goes to climate tech
    • 03:45 Institutional capital vs. bold innovation: the trust mismatch
    • 05:30 Rethinking “retail”: building for a sophisticated next-gen LP
    • 07:00 Tech as an enabler: onboarding, transparency, and scale
    • 08:45 What private market investors need (and don’t get today)
    • 10:00 Productizing the LP experience: clarity, ownership, conviction
    • 11:45 How Carbon Equity builds education into capital deployment
    • 13:00 The vision: mobilizing the masses without dumbing things down
    • 14:30 Impact with returns: challenging the trade-off fallacy
    • 16:00 What’s next: tokenisation, retail regulation, and unlocking access
    Más Menos
    56 m
  • VC | E516 | Founding with Focus: Why Italy’s VC Moment Is Now

    VC | E516 | Founding with Focus: Why Italy’s VC Moment Is Now
    Jul 8 2025
    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 approach
    • 05:15 The Thesis of Italian Founders Fund: A triad of Italy, diaspora, and inbound startups
    • 08:10 Why There Are No Small Funds in Italy: Structural barriers and the missing middle
    • 12:44 Data-Driven Support at Scale: Building productized VC operations
    • 16:02 Market Maturation: Applying Foundamental's venture framework to Italy
    • 19:00 Building an Edge through Focus: A concentrated portfolio with proximity-driven value
    • 22:30 From Angels to Institutions: What the Italian startup scene needs next
    • 25:50 Forget Unicorn Chasing: Why the alpha strategy matters more at pre-seed
    • 28:40 Is Now the Time to Back Italy? Lorenzo’s bet and what makes it different
    • 30:18 Ecosystem Building Through Visibility: Why global VCs must come meet local founders
    Más Menos
    1 h
  • VC | E515 | This Week in European Tech with Dan, Mads & Lomax

    VC | E515 | This Week in European Tech with Dan, Mads & Lomax
    Jul 7 2025
    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 covered
    • 02:30 | AI infra’s moment & CoreWeave hype
      Why 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 explained
      Mad 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 morale
      How 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 AI
      Why 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 years
      Counter 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 tension
      Where does London’s ESG edge help — and where does it push big companies abroad?
    • 40:15 | US vs UK capital markets: talent, trust & scale
      Why 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 founders
      Why 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.
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    1 h y 10 m
  • VC | E514 | Exceptional Ventures’ Matt Cooper & Paolo Pio on Fixing HealthTech’s Hype Problem

    VC | E514 | Exceptional Ventures’ Matt Cooper & Paolo Pio on Fixing HealthTech’s Hype Problem
    Jul 6 2025
    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 Capital
    • 05:52 Matt Cooper's Accidental Path to VC
    • 14:57 Unique Positioning in the Venture Ecosystem
    • 17:46 The Importance of Entrepreneurial Integrity
    • 20:55 Navigating the European Venture Landscape
    • 24:08 Investment Strategies and Value Creation
    • 28:03 Developing Future Leaders in Venture Capital
    • 31:01 The Mission of Joyspan®: Health, Wellbeing, and Happiness
    • 36:34 Integrating Health and Joyspan® into Venture Capital
    • 40:27 Separating Science from Fiction in Health Tech
    Más Menos
    51 m
  • VC | E513 | Rich Ashton on Backing AdTech’s Trillion Dollar Niche with FirstPartyCapital

    VC | E513 | Rich Ashton on Backing AdTech’s Trillion Dollar Niche with FirstPartyCapital
    Jul 5 2025
    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 Niche
    • 11:51 The Facebook & Google Dominance Myth
    • 12:22 Case Studies: Trade Desk, AppLovin, Lumen
    • 14:17 Why Most Funds Miss the AdTech Opportunity
    • 15:38 DOJ vs Google, and the Breakup Implications
    • 17:20 AI & the Future of Attention
    • 24:37 Why First Party Capital is Uniquely Positioned
    • 26:27 From Fund to Syndicate, Studio, and Lending
    • 28:54 Portfolio Highlights: Lumen, Bedrock, Pixels
    • 31:22 Fund II: Now Raising, Backed by Strategic LPs
    Más Menos
    29 m