Welcome back to the EUCVC Summit Talks, where we bring you candid conversations with Europe’s leading founders, corporate leaders, and investors shaping the future of venture collaboration.

In this episode, Jeppe Høier sits down with Peter Aksel Villadsen (GN Hearing) and Helle Hee (PwC) to unpack the messy middle of post-merger integration: aligning strategy and governance, protecting talent and culture, and getting the operating model right so the deal value actually shows up. From pre-close planning to the first 100 days, they share what works, what fails, and how to keep the integration machine honest.

This is essential listening for any corporate venturer, founder, or investor navigating M&A.

🎧 Here’s what’s covered

• 00:00 – Introduction: Europe’s corporates are buying innovation, but many struggle to integrate it. Peter and Helle discuss how to create real value when startups become subsidiaries.

• 01:00 – Breakthrough Moments: Peter on the rare “miracle” when founders stay post-acquisition; Helle on why day-one readiness is critical to capturing momentum.

• 02:00 – Integration Planning: The importance of preparation before signing — equipping teams to welcome founders with curiosity and discover hidden value.

• 03:00 – Culture as an Organ Transplant: Peter’s powerful metaphor: startups as organs transplanted into corporates. How to suppress rejection and preserve agility.

• 04:00 – Building a Hybrid Playbook: Helle on balancing corporate processes with startup DNA — absorbing back office functions while protecting innovation culture.

• 05:00 – Keeping the Founder’s Voice: Peter’s dual perspective as both founder and corporate leader — why revisiting integration plans through the founder’s lens matters.

• 06:00 – Retaining Talent: How to reduce flight risk: tailored incentives, minority stakes, and structures that keep founders motivated post-deal.

• 07:00 – Case Study: Lively: GN’s acquisition of Lively to reach new customer segments — and how involving the startup team secured cultural and strategic value.

• 08:00 – Final Advice: Helle’s closing message: the most important thing is to be ready on day one.

Welcome back to EUVC Live powered by Woven Capital at The Drop, where we bring you unfiltered conversations with the voices shaping Europe’s venture ecosystem.

In this episode, Alex Bakir, founding partner at Norrsken Evolve, takes the stage fresh off his latest fund close — but instead of talking about fundraising, Alex dives into the bigger picture: how competition, climate, and chaos are reshaping the world we invest in.

From the cycles of history and the rise of populism to the structural shocks of climate change, Alex challenges us to rethink Europe’s role, its vulnerabilities, and why rebuilding around cleantech and climate tech isn’t just optional — it’s inevitable.

🎧 Here’s what’s covered:

• 00:30 Competition at every level — from startups chasing scarce resources to nation states fighting for security.

• 01:30 The age of AI: why superintelligence could solve everything — or sharpen competition.

• 02:30 Populism’s return: when economics and expectations don’t align, and why inequality fuels discontent.

• 03:30 Comparative advantage & free trade: why the “end of history” never arrived.

• 04:30 Wealth concentration and the broken promise of the nation state.

• 05:30 Cycles of history: Ray Dalio, Harvard sociologists, and why we’re at the realist end of an 80–100 year cycle.

• 06:30 Climate crisis as self-organized criticality — when stress tips systems into avalanches and floods.

• 07:30 Europe’s long decline since 1900 — and why reliance on external manufacturing is now a liability.

• 08:30 Why Europe must rebuild industry on cleantech and climate tech foundations.

• 09:00 Populism isn’t a blip — it’s a decade-long cycle that requires addressing lived realities.

• 10:00 Final call: in a world of shocks, AI, and climate, people and collaboration matter more than ever.

Welcome back to EUVC Live powered by Woven Capital at The Drop, where we bring you the candid conversations with the investors shaping Europe’s venture ecosystem.

In this episode, Nicole LeBlanc, Partner at Woven Capital, joins us on stage in Malmö to share why Toyota’s $800M global fund is doubling down on Europe. From talent pools and global mindsets to climate tech leadership, Nicole explains why Europe is the testbed for scaling climate, mobility, and automation solutions worldwide.

🎧 Here’s what’s covered:

• 00:30 Why Europe matters: 15% of global VC and growing deal sizes.

• 01:00 Diversification — why global funds can’t rely on just one market.

• 01:30 Talent in Europe: strong engineering pools and founders thinking global from day one.

• 02:30 Climate tech in Europe’s DNA — regulation, partnerships, and net-zero by 2050.

• 03:30 Inside Woven Capital: Toyota’s $800M LPGP fund, financial-first approach, and global mandate.

• 04:30 Toyota Open Labs: Europe-exclusive program giving startups structured access to Toyota.

• 05:30 Portfolio spotlight: Corvus, zero-emission shipping with batteries + hydrogen.

• 06:30 What’s next: circularity, advanced materials, and figuring out AI.

Welcome back to the EUCVC Summit Talks, where we bring you candid conversations with Europe’s leading founders, corporate leaders, and investors shaping the future of venture collaboration.

In this episode, Andreas Munk Holm sits down with Kasper Hulthin, serial founder now at Future Five (and co-founder of Peakon, Podio, and others), and Heini Zachariassen, founder of Vivino, the world’s largest wine app and marketplace. Both have experienced firsthand what it means to be acquired by a corporate—and they don’t hold back on the reality behind the headlines.

From culture shock and governance friction to the trade-offs of autonomy versus scale, Kasper and Heini share the inside story of what happens post-acquisition. They also reflect on when collaboration works, how to preserve founder spirit, and what corporates must do to retain the trust and agility of entrepreneurial teams.

This is essential listening for any corporate venturer, founder, or investor navigating M&A.

🎧 Here’s what’s covered

• 00:05 – Introduction: Startups dream of exits, but what happens next? Kasper and Heini discuss acquisitions, culture shock, and the reality behind the dotted linekasper transcript.

• 01:00 – Two Exits: Kasper shares his founder journey: Podio sold to Citrix (2012) and Peakon sold to Workday (2021).

• 02:00 – How Acquisitions Start: From making noise in San Francisco to building partnerships — why Citrix fell in love with Podio and how Workday became a strategic buyer.

• 04:00 – Timing the Sale: Peakon’s $700M+ exit during COVID, high multiples, and why the deal made sense for both sides.

• 05:00 – Life Inside a Corporate: From founder to mid-level manager — Kasper’s experience of Citrix’s “Project Zeus” and how startups risk dying in big-company bureaucracy.

• 07:00 – Retention & Integration: Why Podio stayed semi-independent while Peakon was integrated fast — and how that shaped employee retention.

• 08:00 – Success Rates: Not every acquisition works: Podio’s limited return vs. Peakon’s strong trajectory. Culture clashes, corporate HR shock, and mismatched priorities.

• 09:00 – Risk & Strategy: Startups bet everything on growth; corporates spread resources across portfolios. Why this clash makes integration so hard.

In this EUCVC Summit Talks episode, Hermann Haraldsson, CEO of Boozt, unpacks the journey of taking a Nordic e-commerce scale-up from scrappy beginnings to a billion-dollar listed company. He discusses Boozt’s playbook for customer trust, operational discipline, and balancing growth with profitability. Hermann reflects on how corporate partnerships can (and can’t) accelerate scale, why governance is critical earlier than founders think, and how AI and sustainability are reshaping retail.

Whether you’re a corporate VC, startup founder, or institutional investor, this is a candid look at the realities of building Europe’s digital champions.

🎧 Here’s what’s covered

• 00:30 – Boozt Journey: Founded in 2011, IPO in Stockholm (2017), dual listing in Copenhagen (2020). Once the most valuable e-commerce company in the Nordics.

• 01:30 – Culture From Day One: Three pillars: trust, freedom, and responsibility — built on Nordic values. Hiring the right people and giving them space to grow.

• 02:30 – The “Care Why” Culture: From “know what” to “know why” to “care why.” How Boozt tests for true ownership mindset (like picking up trash in the warehouse).

• 03:30 – Scaling Culture: How to keep startup mentality when growing from 5 to 500 people. Inspiration from Bain’s Founder’s Mentality framework.

• 04:30 – Founder’s Mentality in Action: Key principles: skin in the game, challenging industry wisdom, and obsessively reducing friction for customers and staff.

• 06:00 – IPO as a Turning Point: Why going public didn’t mean “growing up” — compliance is outsourced, while startup culture is doubled down.

• 07:00 – Staying a Startup Post-IPO: Hermann’s role shift: from “machinist greasing the wheels” to communicator of values, frontline obsession, and owner mindset.

• 08:00 – Don’t Fear Compliance: Investors buy into the startup spirit, not the corporate bureaucracy. Compliance is license to operate, not a competitive advantage.

• 09:00 – Closing Lesson: An IPO doesn’t have to make you corporate — if you focus on what matters, your company’s immune system will fight bureaucracy, not innovation.

Welcome back to EUVC Live powered by Woven Capital at The Drop, where we bring you raw and unfiltered insights from Europe’s venture ecosystem.

In this episode, Hampus Jakobsson - serial founder, angel investor, and one of the driving forces behind The Drop - takes the stage to share two big themes: his hard-earned lessons on corporate venturing, and how AI is set to reshape both energy demand and climate solutions.

From scars of failed CVC deals to the epiphany that corporates must be at the table, and from the risks of AI’s off-grid energy needs to its potential as “a thousand free interns” in old industries, Hampus delivers a candid, fast-paced perspective you won’t want to miss.

🎧 Here’s what’s covered:

• 00:30 Why Hampus once banned CVCs from The Drop — scars from 150+ angel investments and failed corporate deals.

• 01:30 The epiphany: corporates aren’t optional — they’re core to scaling industries like construction, mobility, and climate.

• 02:30 Why we need a clearer language to explain the full spectrum of corporate venture — from balance sheet strategics to spun-out financial-first funds.

• 03:30 Case study: Motorola’s smart deal structure with Hampus’s first company, aligning incentives without blocking other partnerships.

• 05:00 Enterprise sales realities: 18-month sales cycles and €7M average contracts — why corporates matter most for scaling.

• 06:30 Transition to AI: how Hampus’s background in AI shapes his view of its role in climate.

• 07:00 The challenge: AI’s energy demand could reach 10–50% of global consumption, forcing off-grid solutions.

• 08:00 The opportunity: AI as “a thousand free interns” — driving efficiency in old industries from waste management to construction.

• 09:30 Why AI isn’t magic — it’s about practical applications, compilers for design, and tools that boost margins in unsexy industries.

• 10:30 Closing thoughts: solving off-grid energy production and deploying AI where it can have real impact.

In this episode, Andreas Munk Holm and Jeppe Høier sit down with Paul Morgenthaler, Partner at CommerzVentures, to unpack the inner workings of a single-LP CVC and how strategic structure can drive long-term VC success. Paul shares insights from over a decade of fintech investing, offering a rare look into how one of Europe’s leading corporate venture arms thinks about climate, compliance, and the coming wave of agentic AI in financial services.

They explore what it takes to make a single-LP model work, how GenAI is reshaping fintech workflows, and why European regulation may be a global feature, not a bug.

🎧 Here’s what’s covered:

• 03:54 How LP alignment shapes internal incentives & decision-making

• 06:28 What fundraising looks like when your only LP is a bank

• 12:52 How CommerzVentures handles regulatory risk

• 15:24 Customer insights from climate fintech portfolio founders

• 17:27 Climate policy, public budgets & surviving U.S. turbulence

• 19:10 Why ROI matters more than mission in today’s market

• 21:11 Timing markets vs. betting on long-term trends

• 33:35 What metrics matter most in AI x FinTech startups

• 39:19 Can the EU AI Act be a wedge for new startups?

• 41:55 Paul’s call to Series A/B fintech founders across Europe

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, AI

• 04:15 What "Deep Tech That Sells" Means to Honda

• 05:30 Strategic Projects Explained: POCs, JVs, and R&D Partnerships

• 07:45 Fund-of-Fund Activity: Why Honda Also Backs VCs

• 09:00 Structuring the CVC: The Role of Julien’s Team vs. Internal Honda R&D

• 11:30 What Startups Get from Honda (Beyond Capital)

• 13:45 Deep Tech DD: How Honda Approaches Validation from Inside & Outside

• 23:30 Where Europe Stands Out: Climate, Advanced Industry, AI

• 25:30 Gen 2 Climate Tech: From Environmental to Industrial Impact

• 26:15 The State of French VC and Deep Tech Momentum

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 leads Corporate Venture Capital at 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 Career

• 05:12 IAG’s Six Investment Themes: AI, Automation, SAF, CX, Connectivity & Quantum

• 10:01 No Fund Yet—But €200M in Committed Capital Through the Balance Sheet

• 14:30 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 Operator

• 24:34 Inside Iberia’s Turnaround: From €1M/day Losses to €1B Profit

• 28:47 Co-Investing over Leading: IAG’s Approach to Rounds

• 30:29 What Nacho Brings to the Cap Table: Commercial Scale, Access & Global Brand

• 32:54 The Secret Sauce: Airline Autonomy + Strategic Collaboration

• 34:08 How IAG Unlocks Strategic Value Post-Investment

• 39:23 Why Punctuality, Cost & CX Are All Linked in Aviation

• 44:59 The Airline-Customer Relationship: From Booking to Destination

In this episode, Andreas Munk Holm and Jeppe Høier sit down with Florian Noell, PwC’s Global Venturing & EMEA Startups & Scale-ups Leader. Florian draws on his rare blend of experience as a founder, ecosystem advocate, and now corporate innovator to unpack the evolution—and missed opportunities—of corporate venture capital across Europe.

They delve deeply into what distinguishes enduring CVCs from the 3.7-year average lifespan, how to avoid wasting money as a corporate angel, and the structural shifts needed to transition from optics to outcomes. With both realism and optimism, this is a masterclass on corporate-startup collaboration done right—and wrong.

This one’s for ecosystem builders, corporate strategists, and VCs looking to make CVC work in the long term.

Here’s what’s covered:

• 02:10 | Two Hats, One Mission: How Florian Took His Founder Lens to PwC

• 05:50 | What Great Corporate-Startup Collaboration Looks Like

• 08:30 | Why CVCs Die After 3.7 Years—and How to Beat the Odds

• 11:20 | Structuring for Success: The 10 Building Blocks to a Lasting CVC

• 14:00 | Venture Clienting vs. Venture Investing

• 17:40 | The Case for Later-Stage Investing—If You Can Afford It

• 21:15 | LP Investing as a Smart Starting Point

• 25:50 | Policy’s Role: Useful, But Not the Magic Fix

• 30:00 | Changing the Corporate Mindset

• 34:00 | Why Corporates Don’t Reinvent Themselves—And What to Do About It