Episode #2: Consumer Tech Napkin | Building moats in consumer tech

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

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

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

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

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

How do you build a €3.5 billion private markets platform in Europe?⁠David Cruz e Silva⁠ speaks with ⁠Jaap Vriesendorp⁠, Managing Partner at ⁠Marktlink Capital⁠, about building a leading private markets platform backed primarily by entrepreneurs and high-net-worth families.Jaap explains why Marktlink sees scale as a competitive advantage in private markets, enabling better fund access, flexible ticket sizing and stronger operational infrastructure. The conversation also explores the firm’s merger strategy, annual fund structures, vintage diversification and ambitions to expand across Europe.The episode comes shortly after Inflexion ⁠announced⁠ a minority investment into Marktlink Capital through Partnership Capital III, backing the firm’s next phase of European growth.Key highlightsScaling to nearly €3.5 billion AUM backed mostly by entrepreneursWhy scale matters for fund access and LP consistencyCombining venture and private equity capabilitiesAnnual fund structures and vintage diversificationBuilding infrastructure for long-term European expansionTimestamps(02:00) Introduction and Jaap Vriesendorp's background(05:00) From McKinsey to launching a venture fund-of-funds(07:00) The merger that created Marktlink Capital(10:00) Building a platform backed by Dutch entrepreneurs(14:00) Why scale matters in private markets(17:00) Product strategy across venture, private equity, co-investments and private credit(23:00) Building Marktlink Capital and hiring exceptional talent(27:00) How Marktlink uses data science and AI internally(34:00) Marktlink's venture investment strategy(35:00) Vintage diversification, primaries and secondaries(39:00) Why annual funds help secure long-term LP capital(42:00) What Marktlink looks for in emerging venture managers(45:00) Why Europe deserves more credit as a venture ecosystemFurther listening:⁠E347: The $26B CIO Who Turned Superforecasting Into Alpha - How I Invest with David Weisburd⁠Learn more about the Love Tomorrow Summit and the programmes EUVC is curating, and secure your tickets here.

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

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

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

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