E661 | Jack Leeney, 7GC: The AI Supercycle, IPO Windows & Europe’s Missing M&A Flywheel

If you’re in B2B SaaS, you probably feel it already: the old way of “just hire more SDRs and send more emails” is broken.Everyone has the same tooling. Everyone is running the same sequences. Everyone is “personalising at scale” with the same prompts. Yet pipeline quality is down, efficiency is under scrutiny, and suddenly… go-to-market (GTM) design has become a first-class strategic problem.Few people are better positioned to talk about this shift than Harrison Rose.Harrison co-founded Paddle, helped turn it into one of the UK’s fastest-growing software companies, and has now raised a $13M Series A (led by Notion Capital, with participation from Robin Capital, Inovia, Salicap, Common Magic, Andrena and more) to build GoodFit – an AI-driven GTM data platform.Here’s what’s covered:00:47 | What GoodFit actually does — mapping your entire market and scoring every account01:32 | Paddle origins → the first-principles GTM problem that later became GoodFit03:31 | From internal tool to standalone company — recognizing the “product inside Paddle”04:18 | Who buys GoodFit — why B2B tech is the first adopter (and why the market is much bigger)06:28 | Second-time founder advantage — credibility, networks, and selling before the product exists08:29 | Choosing investors — why Notion, avoiding echo chambers, and constructing a syndicate13:24 | Bootstrapping for four years — optionality, profitability curiosity, and knowing when VC is the right path18:34 | AI’s real impact on go-to-market — why most teams are just automating bad outreach22:25 | The GoodFit vision — deciding who to sell to, why, and how (and leaving execution to others)35:34 | Leaving Paddle — identity, founder evolution, and learning to lead differently the second time around46:40 | Giving back — why Harrison opens his inbox for “weird, gnarly, unsaid” founder questions

This week, Andreas Munk Holm talks with Sergey Jakimov, Co-founder and Managing Partner at LongeVC, a leading longevity-focused venture fund backing breakthroughs in biotech, AI-driven drug discovery, and the science of healthy aging.From pre-seed biotech spin-outs to multi-hundred-million-dollar exits with Big Pharma, LongeVC is building the category-defining fund at the frontier of life extension. In this episode, Sergey walks us through the team’s 3x+ MOIC track record, how LongeVC’s scientific advisory board unlocks proprietary deal flow, and why longevity and healthspan investing could be venture’s next trillion-dollar frontier.🎧 Here’s what’s covered01:15 – Who is Sergey Jakimov? From biotech entrepreneur to longevity investor03:00 – What is LongeVC: thesis, structure, and Fund II snapshot06:20 – The market for longevity & age-related disease: a $1.6 trillion opportunity09:30 – Track record: Fund I’s 3x+ MOIC, 0 write-offs, 20 portfolio companies12:40 – How LongeVC sources deals: scientific advisory board and AI-driven diligence15:15 – Ecosystem advantage: from nonprofits to physician networks18:00 – Case study 1 – Insilico Medicine, the $1.5 billion AI-drug-discovery unicorn20:15 – Case study 2 – Turn Biotechnologies and $300 million + HanAll partnership22:30 – Case study 3 – Rubedo Life Sciences and Beiersdorf’s dermatology deal25:00 – How pharma’s pipeline erosion fuels biotech M&A28:10 – Fund II: $120 million target, 20 % carry, 10-year term31:20 – LP privileges: access, co-investments, and semi-annual IC observation34:00 – Sergey’s vision: longevity as both moral and financial imperative

In this episode, Andreas Munk Holm sits down with Ole Lehmann to explore the rise of the solopreneur movement, what AI unlocks for solo founders, and how blockchain may finally have its moment as the infrastructure layer for AI. Ole also unpacks his new initiative, Built in Europe, and why he’s betting on a future where ambitious company builders thrive without moving to the U.S.Here’s what’s covered:00:52 Ole’s Journey: From Music Production to Crypto to AI Education03:57 Crypto Disillusionment & the Promise of Blockchain Infrastructure10:08 Inside the Solopreneur Mindset: Freedom, Curiosity & Leverage16:32 Content Market Fit > Product Market Fit: A New Way to Build21:18 Why Interest Graphs Beat Follower Counts in 202528:43 A New Class of Founders—and the Portfolio Play to Back Them39:10 How AI Tools Empower a One-Person Media Company43:31 Building in Europe: More Than a Narrative Play47:05 The Cultural and Regulatory Hurdles Still Holding Europe Back50:08 Why European Tech Founders Need to Enter the Political Arena

Andreas Munk Holm opens the episode by introducing Charles Dunn, Principal at SV Health Investors, and Ruth McKernan, CBE and Operating Partner at SV Health, former CEO of Innovate UK. SV Health is a transatlantic healthcare specialist with a focus on company creation and full-spectrum biotech investing. Notable wins include the exit of SV-created EyeBio to Merck & Co for up to $3bn including $1.3bn upfront, and the recent launch of SV’s newest company creation Driag Therapeutics, a UK-based neuropsychiatry company, which recently announced its $140m Series A financing.SV Health’s approach blends early-stage company creation with later-stage venture investment. Charles emphasizes that this structure allows:Diversified risk for LPs: Early-stage opportunities carry higher risk but higher upside; later-stage investments provide more stability.Learning across stages: Experience in late-stage investing informs early-stage decision-making, and vice versa.Flexible company formation: SV Health creates companies across different development stages, sometimes even after Phase 1 data exists, as with Draig Therapeutics.

Welcome back to another episode of Upside at the EUVC Podcast, where ⁠Dan Bowyer⁠,⁠ Mads Jensen⁠ of ⁠SuperSeed⁠, ⁠Lomax Ward⁠ of ⁠Outsized Ventures⁠⁠⁠, and Andrew Scott of 7percent Ventures to break down the real stories behind the headlines shaping European tech and venture.From Bending Spoons’ audacious European rollup strategy, to Brexit’s economic hangover, to the existential challenges facing Volkswagen, to Google vs. OpenAI’s new “Code Red”, and finally whether Europe has had its long-overdue shock moment — this episode goes wide, fast, and deep.This is Upside, where the takes are sharp, the macro is messy, and the optimism is… conditional.What’s covered:02:00 The valuation reset, debt-fuelled M&A, and the Italian PE–VC hybrid model04:00 Arbitrage: firing US teams, rehiring elite Italian engineers06:00 Do rollups really work? Tech debt, distribution, and execution risk07:00 Brexit revisited: GDP losses, trade collapse, and political reality08:00 The myth of “you can’t know the counterfactual” — and why you actually can10:00 Will the UK rejoin the customs union? And would Europe even take us back?12:00 Europe’s manufacturing crisis: Porsche, Volkswagen, BYD and the end of German exceptionalism15:00 China’s shift: stop importing, start replicating17:00 Welfare-state complacency and the European stagnation problem20:00 The bitter truth about Europe’s carbon “success story”22:00 How to actually fix European tech: R&D, immigration, procurement, capital markets24:00 Why 0.02% pension allocation to VC is Europe’s biggest structural handicap26:00 Should we “Farage-pill” Europe into a tech-first agenda?33:00 Distribution vs. loyalty: why consumers don’t care about brand36:00 Who wins the cost base war: Google, Amazon, Meta, or OpenAI?38:00 Anthropic’s IPO plans and what they signal about the private capital cycle42:00 Deals of the Week: Black Forest Labs, ICEYE, Expedition Growth Capital44:00 Robotics is the next AI wave — and the picks-and-shovels startups emerging now

This week on the EUVC Podcast, Andreas Munk Holm sits down with Mikael Johnsson, Co-founder & General Partner at Oxx, one of Europe’s leading specialist B2B software investors.Mikael has a very clear-eyed view on the current AI wave: he’s seeing valuation discipline slip, fundamentals being stretched, and a real risk that the market mistakes pilot-driven excitement for lasting enterprise value.In this episode, they explore how to distinguish hype from substance, what “real” AI adoption looks like within a business process, and how both founders and investors can remain level-headed when everyone else is losing theirs.

Welcome back to another episode of the EUVC Podcast. Today, we’re thrilled to feature Leyla Holterud, partner at Vintage Investment Partners. Many know Leyla from her years at StepStone, where she led venture growth across EMEA. Now, at Vintage, she’s helping deploy $4.3 billion from their global platform to double down on Europe, anchored by the firm’s new London office. With a strategy spanning fund-of-funds, growth, and secondaries, Leyla offers a rare vantage point on the European VC landscape.

Welcome back to the EUVC Podcast, your inside track on the people, models, and math reshaping European venture.This week, Andreas talks with Damian Cristian and Guy Conway, co-founders of Rule 30 - an AI research lab building what they claim is the world’s first fully systematic venture strategy. We go deep on the difference between “data-driven” (hygiene) and decision-driven (engine), why labels matter, and how portfolio math crushes intuition.They unpack founder-trajectory signals, graph-based network evolution, market topology (yes, biology-inspired stats), and a portfolio design targeting 3x+ minimum returns with 97.5% confidence. We also debate the “access myth,” party rounds, and why they won’t sell their alpha.Whether you’re an LP testing managers, a GP rethinking reserves, or a founder curious how algorithms “see” you - this one’s for the nerds and the pragmatists.Here’s what’s covered:01:46 | What is “Quant VC” and how it differs from traditional venture06:39 | Why pre-seed isn’t an access problem — it’s a triage problem09:55 | Can AI really make investment decisions at pre-seed?14:13 | Training the model on 15 years of startup data to find top-decile winners20:55 | The “Outlier Trajectory” of founders — decoding team evolution through data26:42 | Why Rule 30 calls itself an AI Research Lab, not a VC fund35:36 | Portfolio construction math: the danger of the “middle” strategy55:57 | Follow-ons vs upfront bets — why they avoid reserves entirely61:40 | Access myth-busting — why 99 % of pre-seed deals are open to smart capital

This week, Andreas Munk Holm sits down with Jack Leeney, co-founder of 7GC, the transatlantic growth fund bridging Silicon Valley and Europe and a backer of AI giants like Anthropic, alongside European rising stars Poolside and Fluidstack.From IPOs at Morgan Stanley to running Telefónica’s US venture arm and now operating a dual-continental fund, Jack shares how 7GC reads the AI supercycle, why infrastructure and platforms win first, and what Europe must fix to unlock the next wave of venture liquidity.🎧 Here’s what’s covered:02:00 7GC’s transatlantic model: investing where liquidity lives05:00 AI’s stack order: infra → platforms → horizontal → vertical10:40 Hype vs. compute cycles: why this time is different11:30 OpenAI vs. Anthropic vs. Mistral: the new map of winners17:40 Llama, open source, and Meta’s defensive play19:00 European AI bets: Poolside, Fluidstack, and dual-market strategies22:40 The EU AI Act: noise, nuance, and why customers still decide26:30 IPOs are back: US windows, European silence33:00 Liquidity, secondaries, and when 7GC hands stock to LPs37:40 Europe’s missing link: scaled M&A43:00 What policymakers and corporates must do next

Welcome back to another episode of Upside at the EUVC Podcast, where ⁠Dan Bowyer⁠,⁠ Mads Jensen⁠ of ⁠SuperSeed⁠, ⁠Lomax Ward⁠ of ⁠Outsized Ventures⁠⁠⁠, and this week’s special guest Robin Haak break down the real stories behind the headlines shaping European tech and venture.Robin joins us as the founder of Robin Capital, an early employee at SmartRecruiters, angel in 100+ companies, including eight unicorns, and one of the most active emerging GPs in Europe. He brings deep operator insight, especially into the German ecosystem, politics, and economy, which this episode leans heavily into.We cover everything from UK policy signals to German recession warnings, AI dominance to Europe’s bureaucratic drag, the rise of solo GPs, and why the next decade of tech will be won or lost on energy availability more than anything else.What’s covered:04:00 EU wants to restrict social media for minorsThe team debates the proposals to ban or limit social media for children under 16, the mental health case, and the tension between safety and overreach.06:00 Surveillance creep & messaging regulationRobin explains concerning drafts that would’ve allowed governments to read private messages. The group breaks down the slippery slope of “protect the children” legislation.10:00 UK Budget: surprisingly startup-friendlyDan and Lomax unpack EMI reforms, EIS/VCT clarity, and why the market reacted calmly. Signals of a more innovation-forward UK emerge.12:45 Lovable.ai’s VAT scandal & Europe’s compliance mazeA Swedish engineer’s viral post on LinkedIn sparks a discussion on Europe’s inconsistent VAT rules, compliance complexity, and whether hypergrowth and European regulation can co-exist.17:00 N26’s long struggle with German regulatorsRobin, an early angel, offers an insider's view on the fintech’s challenges—BaFin restrictions, governance issues, and the counterfactual: “Would N26 be worth €20B if it were French?”20:00 Germany’s big macro problem: stagnation + overloadA brutally honest breakdown of the German economy: energy scarcity, migration overload, rising welfare costs, labor shortages, and political paralysis.28:00 Education, welfare, pensions & the cost structure crisisRobin explains why Germany’s systems are buckling: the collapse of PISA scores, overloaded municipalities, and an economic model no longer supported by productivity.33:00 Nuclear shutdowns & Europe’s AI energy deficitWhy Germany shut down its safest reactors, how it backfired, and why France and the Nordics will become the new AI infrastructure hubs.40:00 Startup ecosystem: the good, the bad, the bureaucraticFrom Munich’s deep tech boom to notary nightmares, ESOP fixes, GmbH limitations, and how founders are learning to hack the system.55:00 The rise of Solo GPsThe team discusses the American roots, European trajectory, operator funds, fund-of-funds appetite, and why founders increasingly prefer solo GPs.01:00:00 AI CornerOpenAI’s trillion-dollar capex future, Google’s TPU resurgence, Anthropic momentum, Michael Burry shorting AI (and why it’s misguided), and the geopolitics of compute.