EUVC

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.

Florian Noell, PwC’s Global Venturing & EMEA Startups & Scale-ups Leader, shares insights from his diverse background as a founder and corporate innovator. He discusses the common pitfalls of corporate venture capital, revealing why most CVCs falter after just 3.7 years. Florian emphasizes the importance of collaboration between startups and corporations, outlining ten key strategies for enduring success. He advocates for later-stage investing and challenges traditional mindsets that hinder corporate reinvention, making a compelling case for a cultural shift towards innovation.

Mads Jensen from SuperSeed and Lomax Ward of Outsized Ventures join to dissect the landscape of European tech. They explore the EU's plans to streamline corporate registration for startups, the challenges of navigating diverse legal systems, and the surge of AI innovations from China. The discussion also touches on the impact of Brexit, the evolving funding landscape, and the need for Europe to enhance its competitive edge. With a mix of cautious optimism and analytical insight, they navigate the future of venture capital across the continent.

Fanny Talagrand, Head of EMEA sales for startups and SMBs at Stripe, shares her wealth of knowledge from tech giants like Google Cloud. She discusses the importance of understanding user needs and adapting sales strategies for both startups and enterprises. Fanny emphasizes the need for smart, driven hires and effective onboarding to ensure quick productivity. She explores how product-led growth can coexist with enterprise sales and highlights tailored metrics to optimize performance. Her insights are practical for any founder looking to enhance sales operations and build robust teams.

Jean Schmitt, who heads Jolt Capital focusing on deep tech investments, and Rob Blackie, founder of Crampton Blackie, discuss the critical state of RNA in Europe. They address the hurdles of commercialization and investment, revealing stark funding disparities with North America. Insights from their landmark report highlight the regulatory challenges faced by biotech startups. They argue for a supportive environment to foster innovation and explore the impact of COVID vaccine advancements. The conversation emphasizes the need for strategic partnerships to unlock RNA's full potential.

In this discussion, Carlos Trenchs, an early-stage investor at Masia VC, dives into the vibrant Barcelona startup scene. He explores the rise of repeat founders who are now becoming emerging managers, sharing their insights and experiences. The conversation highlights structural challenges in fundraising for new managers and innovative investment designs aimed at fostering ecosystem development. Carlos also discusses collective capital and the inspiration drawn from US micro-funds, shedding light on the evolution of Europe's seed investment landscape.

Sarah Drinkwater, Founding Partner at Common Magic, previously led Google's startup programs in EMEA, while Anthony Danon, founder of Rerail, focuses on fintech micro-funds. They discuss the rise of solo GPs in Europe, emphasizing their flexibility and tailored approaches to investing. Topics include the concept of 'headless rounds,' the shift towards conviction investing, and the evolving role of angel investors. They explore how smaller funds can better support outlier founders and navigate the competitive landscape, predicting future trends for micro funds.