Welcome to a new episode of the EUVC podcast, where Dan Bowyer and Mads Jensen of SuperSeed and Lomax from Outsized Ventures dive deep into the macro and micro of European venture, joined this week by special guest Chris Elphick, Head of Venture Capital at the British Private Equity & Venture Capital Association (BVCA).

Together, they pull back the curtain on the real stories shaping VC—from pension reform to geopolitical shocks, blackout readiness, and the transatlantic battle for AI and aerospace dominance.

Here’s what’s covered:

• 03:15 What Really Happens at a VC Conference?
• 07:40 Politicians Using AI: Tech Literacy or National Security Risk?
• 12:01 UK Local Elections: Rise of Reform & Political Fragmentation
• 18:20 Trump’s Tariffs: Recession Risk & Global Trade Realignments
• 22:33 Heart Aerospace Flies to LA: A Blow to Europe?
• 28:04 UK VC Fundraising Rebounds—but Where’s the LP Money?
• 33:42 The Pension Problem: Zero UK Pensions Backing UK VC?
• 48:58 NATO x Deeptech: Europe’s First Combat Robots?
• 52:35 Portugal’s Great Blackout: A Warning for Renewable Grids
• 1:03:00 Show Me the Money: Can Pension Reform Really Unlock Capital for UK VC?