EUVC

Welcome back to another episode of the EUVC Podcast, where we gather Europe’s venture family to share the stories, insights, and lessons that drive our ecosystem forward.Today’s guest is Omri Benayoun, General Partner at Partech, one of Europe’s premier investment platforms. Since 2014, Omri has co-led Partech’s growth equity strategy, raising more than €1B across two funds and backing some of Europe’s most capital-efficient champions. With a career spanning government, corporate strategy, e-commerce, M&A, and growth investing, Omri brings a rare lens on what it takes to build resilient global tech leaders from Europe.From rock climbing as a metaphor for measured risk-taking to the structural advantage of Europe’s “do more with less” DNA, this conversation covers Partech’s contrarian bet on bootstrapped scale-ups, the role of elite LPs, and why Europe’s complexity might be its greatest strength.🎧 Here’s what’s covered:01:34 Rock Climbing & Investing: Risk, fear, and why falling is part of the journey.04:00 Omri’s Background: From government to e-commerce (Cdiscount), retail (Casino), and software (Dassault Systèmes).10:00 Lessons from Dassault: Product roadmaps, customer listening, and why big M&A requires years of courtship.14:00 Government Experience: Why investors and founders can’t afford to ignore policy anymore.20:00 Launching Partech Growth: Filling the gap for European growth capital in 2014.22:00 Fund II Strategy: Betting on bootstrapped, capital-efficient companies during the 2020 frenzy.25:00 Defining Capital Efficiency: Rule of 40, ARPU per employee, and Europe’s structural advantage.29:00 Case Study – EcoVadis: From bootstrapped ESG ratings leader to global scale.33:00 Inside Partech: The “Greek city-states” model of seed, venture, growth, Africa, and impact strategies.39:00 Efficiency vs. Profitability: Why founders must avoid the “dead zone” of low growth + breakeven.41:00 Elite LPs Enter the Game: How Cambridge Associates, StepStone, and sovereigns now back European growth.46:00 Europe on the Map: From founders settling early to chasing world-class scale.50:00 Complexity as a Feature: Why regulatory fragmentation creates stronger survivors.52:00 Partech’s Cohesion: A culture of numbers, engineers, and price sensitivity across geographies.

Mehmet Atici from Bek Ventures dives into the vibrancy of Europe’s tech scene, challenging the narrative of underperformance. He highlights the dynamic growth in countries like Poland and Bulgaria and booming hubs like Tallinn and Lisbon, driven by ambitious founders. Atici emphasizes the need for strategic positioning in a fragmented market, contrasting Europe with the cohesive U.S. landscape. He advocates for recognizing the diverse strengths of European startups, noting that success is about global ambition, not just local ventures.

Kerry Baldwin, co-founder of IQ Capital and chair of the BVCA's Pensions and Private Capital Expert Panel, joins Chris Elphick, head of venture capital at BVCA, to tackle a pressing question: How can Europe mobilize its pension capital for innovation? They discuss the £1 trillion potential by 2030 and the importance of aligning pension language with venture culture. Key insights include building relationships, using real-world case studies, and navigating regulatory changes to ensure pension funds actively invest in the venture ecosystem.

The podcast dives into the exciting world of venture capital exits, spotlighting the impressive win by SV Health for their breakthrough company, EyeBio. It emphasizes how this exit symbolizes strategic vision and patient capital in Europe’s emerging healthtech sector. The discussion reveals the significance of such outcomes for the entire ecosystem, inspiring confidence among investors and founders alike. The conversation wraps up with a call to action for more successful exits, underscoring the growing potential in European innovation.

Joe Schorge, founder and managing partner of Isomer Capital, shares his insights on the European venture capital landscape at the EUVC Summit 2025. He presents a metaphor of orchards, emphasizing the abundance of high-quality startup potential in Europe. Joe discusses the importance of secondary markets in facilitating exits and liquidity for GPs and LPs. He urges investors to adapt by loosening restrictions on secondary transactions. With more assets available than ever, he highlights that secondaries are crucial for progress, not merely shortcuts.

In this discussion, Stephen Lowery, Managing Director at HSBC Innovation Banking, shares his insights on revolutionizing financial support for innovation. He highlights the limitations of current financing tools for emerging technologies like AI and robotics. Stephen advocates for a hybrid approach, combining venture equity with creative debt and revenue-based financing. He emphasizes the need for collaboration among investors and innovators to create a sustainable infrastructure for the future of capital. It’s an inspiring call to action for those looking to shape tomorrow's tech landscape.

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

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

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

At the EUVC Summit 2025, a riveting debate unfolded over the merits of solo GPs versus larger funds. Anthony argued that solo GPs are uniquely positioned for success due to their focus and speed, while Sarah emphasized the importance of performance over sheer scale. They discussed navigating the evolving European investment landscape and the critical balance between specialization and overall strategy. The conversation highlighted how personal connections and tailored fund sizes could redefine venture capital dynamics.