EUVC

In today’s episode of the EUVC podcast, Andreas Munk Holm talks with Claude Ritter and Stefan Walter from NAP, formerly known as Cavalry and Rene Andres from the European Investment Fund (EIF).

In today’s episode of the EUVC podcast, Andreas Munk Holm talks with Claude Ritter and Stefan Walter from NAP, formerly known as Cavalry and Rene Andres from the European Investment Fund (EIF).

The conversation centers on Cavalry’s recent rebranding into NAP and evolving investment approach, which now emphasizes backing early-stage startups led by expert founders. The team explains how their shift from a broad, pre-seed focus to a more refined strategy—centered around proprietary data, instant utility, and interoperability—reflects the changing dynamics of the tech landscape in Europe.

Our guests also discuss broader themes shaping the venture ecosystem, such as managing team dynamics and maintaining transparent, candid communication with limited partners. They share insights on the importance of agility in a market influenced by rapid technological change, political shifts, and the AI boom.

Go to eu.vc for our core learnings and the full video interview 👀

Chapters:

02:35 Claude and Stefan's Background and Firm Overview
03:52 Rene's Background and EIF's Role
06:13 Current State of the European Venture Ecosystem 
09:55 The Role of Tech in Politics
17:47 Rebranding from Cavalry to NAP
20:55 The Meaning Behind Nerds and Pioneers
22:10 Managing Partnership Changes
24:05 Navigating Team Changes in VC Firms
24:39 The Importance of Adaptability
26:00 Challenges and Strategies in Team Dynamics
29:44 Honesty and Transparency with Investors
32:08 Reflecting on Core Learnings
36:55 The Evolution of Investment Theses
38:41 Focusing on Proprietary Data and Instant Utility
39:48 Interoperability: The Future of Business Models
44:09 Expert Founders and Founder Future Fit
48:28 Final Thoughts and Key Takeaways

Welcome to a new episode of the EUVC podcast, where our good friends Dan Bowyer and Mads Jensen from SuperSeed in a discussion with Andrew J. Scott, Founding Partner at 7percent Ventures and Lomax Ward, General Partner at Outsized Ventures, cover recent news and movements in the European tech landscape 💬

Welcome to a new episode of the EUVC podcast, where our good friend Dan Bowyer from SuperSeed talks with Andrew J. Scott, Founding Partner at 7percent Ventures, and Lomax Ward, General Partner at Outsized Ventures, to cover recent news and movements in the European tech landscape. 💬

Go to eu.vc for our core learnings and the full video interview 👀

In today’s episode of our CVC series, Andreas and our CVC in-house expert, Jeppe Høier, talk with Ann-Sofie Ekberg, CEO of Volvo Cars Tech Fund, the corporate venture arm of Volvo Cars. Founded in 2018, the fund invests directly from Volvo’s balance sheet, backing startups in mobility, sustainability, and digitalization. While prioritizing strategic relevance, the fund maintains a disciplined investment approach, engaging with startups at various stages—predominantly Series A and B, with some selective seed investments.

Under Ann-Sofie’s leadership, the Tech Fund has developed a structured approach to ensure investments align with Volvo’s readiness to adopt new technologies. She emphasizes the importance of startups having diverse customer bases beyond Volvo to avoid over-reliance. In this conversation, Ann-Sofie also shares insights into balancing strategic and financial priorities, how Volvo collaborates with competitors in CVC, and why she believes platform-based vehicle architectures will unlock faster innovation and startup adoption in the automotive industry.

Go to eu.vc for our core learnings and the full video interview 👀

Chapters:

02:28 Understanding Volvo Cars and Volvo Group
03:25 Corporate Venture at Volvo Cars
03:50 Volvo Cars Technology Fund: History and Mission
05:14 Investment Decisions and Internal Sponsors 
07:06 Seed Investments and Strategic Disruptions
08:05 Strategic vs. Financial Investments
10:07 Portfolio Modeling and Investment Criteria
12:33 Mandate and Budget Flexibility
14:08 Challenges in the Automotive Industry
17:40 The Role of Technology and Platforms
20:04 Sustainability Goals and Initiatives
22:59 Investment in Battery Technology
26:17 Collaboration and Scaling Challenges
33:41 Corporate Venturing and Competition
39:47 Boardroom Dynamics and Ownership
44:23 Success Stories and Additional Opportunities
45:49 Conclusion and Final Thoughts

Welcome to a new episode of our special series, At The Cap Table Series, where Sarah Finegan, Senior Investor at Antler, talks with Emma Phillips, Investment Partner at LocalGlobe. Local Globe is one of Europe’s most respected early-stage venture firms. Founded by Robin and Saul Klein, Local Globe has backed nearly 300 companies, including 17 unicorns and five IPOs, focusing on B2B software, applied AI, and the future of work.

With deep entrepreneurial DNA and a commitment to investing in founders at the earliest stages, the firm plays a crucial role in shaping Europe's startup ecosystem. Since joining Local Globe nearly a decade ago, Emma has transitioned from an operating partner to a leading investor, bringing hands-on experience in scaling companies and navigating operational challenges.

In this conversation, she shares her insights on what makes a great founder, the importance of first-principles thinking, and why exceptional talent can come from anywhere. We also dive into Local Globe’s unique approach to venture investing, the major trends shaping the future of work & AI, why founders should embrace unscalable solutions early on, and why Europe needs to build a more open and accessible venture ecosystem.

Go to eu.vc for our core learnings and the full video interview 👀

Welcome to a new episode of the EUVC podcast, where our good friend Dan Bowyer from SuperSeed in a discussion with Andrew J. Scott, Founding Partner at 7percent Ventures, and Lomax Ward, General Partner at Outsized Ventures, to cover recent news and movements in the European tech landscape. 💬

In today’s episode, Andreas Munk Holm speaks with Sune Stilling and Christy McCaig, General Partners at Nine Realms, a venture fund focused on transforming global supply chains. With a target size of €200 million, Nine Realms is raising its first fund, screening high-potential Series A investments across Europe and North America.

Notably, their portfolio and previous investments include innovative companies like Clearly, Forto, and Loadsmart, which drive change in logistics and sustainable operations. Sune and Christy bring their extensive experience from corporate ventures and logistics, including Maersk Growth, to identify startup opportunities that address today’s global supply chain challenges.

In this conversation, they discuss the fund’s strategy of building a concentrated, operator-led portfolio to generate steady returns from trade sales, not just unicorn exits. They explore how evolving trends like AI optimization and sustainability open new market opportunities.

Go to eu.vc for our core learnings and the full video interview 👀

Chapters:

02:20 Nine Realms Fund Overview
03:05 Team Background and Expertise
03:46 Christy's Professional Journey
04:54 Sune's Professional Journey
07:54 Building Nine Realms
09:45 Collaboration Between CVCs and VCs
10:46 Corporate VC Strategies
12:04 Investment Structure and Decision Making
15:18 European Supply Chain Innovation
17:03 Investment Strategy and Allocation
18:24 Portfolio Management and Value Creation
28:09 Two-Sided Value Creation Model
29:45 Strategic Investors and Partnerships
35:43 Industry Trends and Themes for 2025
42:51 Resilience in Supply Chains

In today’s episode of the EUVC podcast, Andreas talks with Stephen Millard, Operating Partner & Chief Platform Officer at Notion Capital, a London-based fund exclusively investing in B2B SaaS. With roots dating back to early SaaS pioneers like Message Labs, Stephen brings deep operational know-how and a data-driven approach to venture investing. Notion Capital’s Cloud Champions latest report unpacks European SaaS companies' unique challenges, from navigating fragmented markets to scaling revenue rapidly, emphasizing the need for constant reinvention.

Using extensive experience and real-world case studies, Stephen explains how today’s well-informed buyers reshape the traditional seller-buyer dynamic. He outlines the critical transition for founders: from a hands-on, experimental phase to a disciplined, outcome-focused strategy, ensuring that teams align across sales, marketing, and product development. Stephen also shares practical insights on adapting go-to-market strategy and building enduring, high-growth businesses in a rapidly evolving market landscape.

Go to eu.vc for our core learnings and the full video interview 👀

Welcome to a new episode of the EUVC podcast, where our good friends Dan Bowyer and Mads Jensen from SuperSeed in a discussion with Andrew J. Scott, Founding Partner at 7percent Ventures and Karin Nielsen, Product & Growth Advisor at Unruly Labs, cover recent news and movements in the European tech landscape 💬

In today’s episode of the EUVC podcast, Andreas talks with Ingrid Bonde Åkerlind, a seasoned investor at Oxx, a venture capital firm focusing on B2B SaaS companies that operate from London and Stockholm. Backed by a $190 million second fund and a boutique, high-conviction approach, Oxx targets late Series A and Series B companies that have not only passed the product-market fit gauntlet but are now ready to scale. Ingrid’s unique blend of hands-on operational experience and investment insight helps her spot startups that truly understand their market dynamics.

Drawing on her journey from building growth teams to steering venture investments, Ingrid explores the power of a well-defined Ideal Customer Profile (ICP). She explains how transitioning from an experimental phase to a focused customer strategy can align sales, marketing, and product teams for sustained success. In this conversation, she shares practical insights on refining go-to-market strategies and leveraging data-driven customer segmentation to drive operational efficiency and venture-scale returns.

Go to eu.vc for our core learnings and the full video interview 👀