EUVC

In this episode, Jeppe Høier and Andreas Munk Holm sit down with Julien Fredonie, Head of Europe & Africa at Honda Xcelerator Ventures, for a deep dive into how one of the world’s most iconic manufacturing giants is strategically navigating venture capital across Europe.They explore Honda’s global investment strategy, Julien’s views on Europe’s deeptech strengths, the nuanced role of corporate VC, and why Honda is bullish on European innovation—from climate tech to AI and advanced manufacturing.This one’s a rare look into how a global player allocates capital, thinks about strategic alignment, and partners with both startups and emerging funds.Here’s what’s covered:01:10 Who is Julien Fredonie and what is Honda Xcelerator Ventures?02:40 The 4 Strategic Pillars: Sustainability, Manufacturing, Mobility, AI04:15 What "Deep Tech That Sells" Means to Honda05:30 Strategic Projects Explained: POCs, JVs, and R&D Partnerships07:45 Fund-of-Fund Activity: Why Honda Also Backs VCs09:00 Structuring the CVC: The Role of Julien’s Team vs. Internal Honda R&D11:30 What Startups Get from Honda (Beyond Capital)13:45 Deep Tech DD: How Honda Approaches Validation from Inside & Outside23:30 Where Europe Stands Out: Climate, Advanced Industry, AI25:30 Gen 2 Climate Tech: From Environmental to Industrial Impact26:15 The State of French VC and Deep Tech Momentum

Welcome back to another episode of Upside at the EUVC Podcast, where Dan Bowyer, Mads Jensen of SuperSeed and Lomax from Outsized Ventures unpack what’s happening in European tech and venture capital.This week: Why Meta and Microsoft are minting cash from AI, what Figma’s IPO signals for SaaS, whether the EU got rolled in its new trade deal with the US, and how Europe’s AI scene is finally delivering billion‑dollar exits. Plus: OpenAI’s new “Study Mode” and Harry Stebbings’ Project Europe—an “anti‑YC” deep‑tech accelerator for founders under 25.🎧 Here's what's covered:01:07 Meta & Microsoft Blowout Earnings: How AI is driving real revenue and margins.04:43 Meta’s Efficiency Playbook: Ads, engagement, and headcount cuts fueling growth.06:39 Zuckerberg’s Billion-Dollar AI Talent Grab: Why Meta is betting the farm on AI.11:23 CapEx Shockwaves: Meta at $70B and Amazon at $100B—bigger than all of European VC.14:02 Sticky Inflation & AI Boom: Why markets stay bullish despite high rates.21:33 Figma’s Blockbuster IPO: SaaS revival or a one‑off outlier?25:37 Index Ventures’ €7B Payday: Power law dynamics in European venture.33:51 EU–US Trade Deal Breakdown: Tariffs, defense procurement, and $600B in investment.46:43 Anthropic’s $5B Raise: Can US AI dominance withstand cheap, open‑source rivals from China?49:32 Germany’s $1B AI Exit: Cognigy and the rise of European enterprise AI.01:07:59 Accelerators & the “Best Founders Don’t Need Them” Debate

In this episode, sits down with and , the founding partners of , a brand-new fund laser-focused on what they call Human Interaction Tech.They explore why online communication, remote work, and AI are disrupting how we relate at work and in life, and why that opens a massive opportunity for a new kind of VC firm. With a track record of backing unicorns like Flo, Revolut, and Patreon, and institutional knowledge from Bain and SDV, the duo is now raising their first fund to scale this vision.We dive into how they define their category, the growing $150B+ market opportunity, their standout portfolio performance, and how their unfair advantages—from GTM playbooks to Tier 1 VC intros—create gravity with both founders and LPs.🎧 Here’s what’s covered:00:05 Introduction to AdHoc Ventures01:30 The Concept of Human Interaction Tech05:28 Market Opportunities in Human Interaction Tech09:23 Investment Strategy and Track Record12:27 Unfair Advantages of Ad Hoc Ventures16:03 Building a Global Fund20:03 The Role of AI in Human Interaction24:25 Value Addition as Specialized Investors25:40 Management Fee Structure Explained

Hannah Leach, a Partner at Antler UK and Co-Founder of VentureESG, discusses innovative approaches to venture capital, highlighting day-one investing and values-driven portfolios. She shares insights on why certain funds don't succeed, revealing her experience with Houghton Street Ventures. The conversation explores the significance of co-founder chemistry and the evolving landscape of support for startups, including the unique residency models that foster genuine collaboration among founders. Hannah emphasizes the balance of strategy and personal relationships in building resilient teams.

Welcome to a new episode of the EUVC podcast, where Andreas Munk Holm and Jeppe Høier explore the cutting edge of European venture capital. Today’s guest is Nacho Tovar, who is the Group Innovation Director at IAG. IAG—the airline group behind British Airways, Iberia, and Vueling.Together, they unpack how one of the world’s most complex legacy industries is retooling itself through deep tech, startup collaboration, and CVC-backed transformation—from synthetic fuels to quantum AI.This is the CVC playbook for aviation, straight from the cockpit.🎧 Here's what's covered:02:02 How Childhood Dreams of Flight Became a CVC Career05:12 IAG’s Six Investment Themes: AI, Automation, SAF, CX, Connectivity & Quantum10:01 No Fund Yet—But €200M in Committed Capital Through the Balance Sheet14:30 Why IAG Doesn’t Invest at Concept Stage (And Doesn’t Take Equity in Accelerator)18:32 Nacho’s Career Path: Why Engineering + Accenture + VC = Ideal CVC Operator24:34 Inside Iberia’s Turnaround: From €1M/day Losses to €1B Profit28:47 Co-Investing over Leading: IAG’s Approach to Rounds30:29 What Nacho Brings to the Cap Table: Commercial Scale, Access & Global Brand32:54 The Secret Sauce: Airline Autonomy + Strategic Collaboration34:08 How IAG Unlocks Strategic Value Post-Investment39:23 Why Punctuality, Cost & CX Are All Linked in Aviation44:59 The Airline-Customer Relationship: From Booking to Destination

Mads Jensen from SuperSeed shares insights on AI and investment strategies, while Lomax Ward from Outsized Ventures delves into AI integration in the UK's financial sector and stablecoins. Andrew Scott discusses the implications of the UK government's partnership with OpenAI and the challenges of national sovereignty in tech. The group debates AI's role in public services, the urgency for strategic investments, and explores how stablecoins could reshape finance. They also tackle the intersection of technology and governance, revealing the future of the European tech landscape.

Eoghan O’Neill, Senior Policy Officer at the European Commission’s AI Office, delves into the intricate world of the EU AI Act. He emphasizes how this legislation serves not merely as red tape but as a framework fostering innovation. O’Neill discusses the journey from startups to supercomputers, highlighting regulatory clarity as an asset for investors. He also explores high-risk AI classification and draws lessons from GDPR to balance safety and growth, while positioning Europe as a frontrunner in global AI dynamics.

In this episode, Jon from the European VC pod is joined by co-host Ambika from Circle Capital for a special look at the Southeast Asian VC landscape. Their guest, Bhavik Vashi—Managing Director at Carta for APAC and MENA—brings both operator and investor lenses to the table. From the myth of “Southeast Asia as a region” to emerging manager struggles, this conversation pulls no punches. If you’re thinking global, this is your field guide.Here’s what’s covered:01:20 Bhavik’s Journey from Anaplan to Carta03:45 Why “Southeast Asia” Is a Convenience, Not a Region08:00 The Operator’s Reality: Fragmentation, Regulation, and Talent Arbitrage11:45 Power Law Doesn’t Work Here: Rethinking Portfolio Construction16:10 Fund IRRs Are Down, and It’s Worse in Southeast Asia19:00 The First Wave of Emerging GPs: What Went Wrong22:30 The Bright Side: Carta’s $1B Bet and Market-by-Market Nuance27:15 Australia, MENA, Singapore, and What Global LPs Should Understand32:00 The Case for Emerging Managers (And Why LPs Need to Get Over Their Fears)36:10 Belief Shift: The East Isn’t Copying the West Anymore41:00 Hub-and-Spoke Is Dead: Local Ops for Global Scale44:00 Middle East ≠ Europe: Why Singapore and Dubai Are Mirror Plays

Jörg Binnenbrücker, General Partner at Capnamic, dives into the extraordinary journey of LeanIX, revealing how a €500K investment blossomed into a billion-euro exit. He discusses Capnamic’s founder-first philosophy and their focus on DPI—emphasizing real returns over paper markups. With insights drawn from Michael Jordan and Yoda, Jörg highlights the essence of hard work and resilience in startups. He also reflects on the importance of strong relationships within the venture capital ecosystem and the underrated potential of European software founders.

Fabian Heilemann, founding partner at AENU, is a former entrepreneur turned VC heavyweight focused on climate tech. He discusses his shift from generalist VC to dedicated impact investing, emphasizing the need for accountability in impact metrics. Fabian addresses the challenges of raising an evergreen fund in a bear market and why mission-aligned founders demand more than just capital. He highlights the urgency of tackling global issues like climate change and biodiversity collapse, advocating for a holistic approach to investing that aligns economic interests with environmental sustainability.