Scaling Europe

Venture funds are becoming more systematic about finding founders before anyone else has seen them. As more firms build internal sourcing tools, the real advantage is shifting from collecting signals to knowing which opportunities are actually worth chasing.

Jacob Houlberg is Co-founder of Evertrace, which helps more than 220 venture funds identify founders at the earliest stages of company creation. He believes sourcing is becoming table stakes for early-stage investors, while the real job of a VC is still deciding which founders can build exceptional companies.

The Scaling Europe show is presented by Deel. Check them out here:

https://get.deel.com/ruynb7o4lfjk

Sponsors:

Mishcon: https://www.mishcon.com/pop-ups/scaling-europe

Chargebee: https://www.chargebee.com/events/beelieve/london/2026

SurrealDB: https://surrealdb.com/

Airwallex: https://www.airwallex.com/uk?utm_source=other&utm_medium=partner_referral&utm_campaign=v01_emea_multi_ib_dg_prtmk_mofu_scalingeurope

Timestamps:

0:00 - Introduction

0:32 - Why Evertrace was created and the sourcing problem

2:13 - Finding founders before anyone else

4:44 - How VCs use Evertrace and data signals

6:44 - AI agents in sourcing

10:34 - Building vs becoming a VC fund

14:53 - Expanding the platform beyond sourcing

16:43 - Competition and acquisitions

20:25 - Future of data-driven investing

Conduct just raised $60m in a Series A co-led by Index Ventures and ICONIQ, with strategic investment from SAP and participation from existing investors.

JP Haas is Co-Founder and CEO at Conduct. The company builds an AI operating system for enterprise software that maps heavily customised systems like SAP and Salesforce and helps enterprises execute changes across them faster.

The Scaling Europe show is presented by Deel. Check them out here:

https://get.deel.com/ruynb7o4lfjk

Sponsors:

Mishcon: https://www.mishcon.com/pop-ups/scaling-europe

Chargebee: https://www.chargebee.com/events/beelieve/london/2026

SurrealDB: https://surrealdb.com/

Airwallex: https://www.airwallex.com/uk?utm_source=other&utm_medium=partner_referral&utm_campaign=v01_emea_multi_ib_dg_prtmk_mofu_scalingeurope

Timestamps:

0:00 - Introduction

0:25 - $60m Series A announcement

3:01 - What Conduct does

5:39 - SAP partnership and validation

6:56 - Enterprise adoption and go-to-market

8:41 - Partner ecosystem

9:02 - SAP as starting point

10:37 - Why enterprise systems are complex

12:05 - Working with large enterprises

14:23 - Building organisation and learnings

15:18 - Global expansion

16:29 - SAP distribution and co-selling model

18:34 - Growth and ambition

20:37 - Hiring and culture

Many of the industries that keep the economy running still rely on emails, phone calls and manual coordination between people. AI is starting to change that, allowing companies to automate work that previously required large operational teams.

Pablo Palafox, CEO at HappyRobot, believes the biggest opportunity in AI is not building better chatbots, but helping businesses actually get work done. As more companies move from experimenting with AI to deploying it across their operations, the question is becoming less about what the technology can do and more about where it can create the most value.

The Scaling Europe show is presented by Deel. Check them out here:

https://get.deel.com/ruynb7o4lfjk

Sponsors:

Mishcon: https://www.mishcon.com/pop-ups/scaling-europe

Chargebee: https://www.chargebee.com/events/beelieve/london/2026

SurrealDB: https://surrealdb.com/

Airwallex: https://www.airwallex.com/uk?utm_source=other&utm_medium=partner_referral&utm_campaign=v01_emea_multi_ib_dg_prtmk_mofu_scalingeurope

Timestamps:

0:00 - Introduction

0:32 - Building AI agents for the real economy

3:43 - How AI is transforming logistics

7:47 - Why enterprises are adopting AI faster than expected

10:47 - Finding product-market fit

14:03 - Hiring and international expansion

15:49 - Building in San Francisco

17:33 - Maintaining startup urgency

18:51 - Scaling through rapid growth

20:02 - The future of AI agents

AI is becoming one of the most important questions facing Europe, yet many leaders still underestimate both the speed and scale of the transformation.

Judith Dada is General Partner at Visionaries Club and one of the authors behind Europe 2031, a new scenario exploring how Europe could fall behind in an AI-driven world over the next five years. The solution, she believes, is for Europe to move faster, make difficult trade-offs and focus on building leverage rather than pursuing sovereignty alone.

The Scaling Europe show is presented by Deel - check them out here:

https://get.deel.com/ruynb7o4lfjk

Sponsors:

Mishcon: https://www.mishcon.com/pop-ups/scaling-europe

Chargebee: https://www.chargebee.com/events/beelieve/london/2026

SurrealDB: https://surrealdb.com/

Airwallex: https://www.airwallex.com/uk?utm_source=other&utm_medium=partner_referral&utm_campaign=v01_emea_multi_ib_dg_prtmk_mofu_scalingeurope

Timestamps:

0:00 - Introduction

0:19 - Europe 2031

3:39 - Where Europe went wrong on AI

7:23 - Who needs to hear this message

9:16 - Can Europe change course?

11:36 - The trade-offs Europe may need to make

13:17 - Who is responsible for Europe’s future?

15:06 - Sovereignty vs leverage

20:21 - What success looks like for Europe 2031

21:37 - Five proposals for Europe’s AI future

23:43 - Can Europe still get this right?

More people than ever before can now build software, as AI removes many of the technical barriers that previously stood in the way. Lovable is helping lead that shift, with two-thirds of its builders coming from outside the tech industry.

Nad Chishtie is Founding Designer and Head of Design at Lovable. He believes the next generation of software will be built by far more people than ever before, with AI helping turn ideas into products while giving both generalists and specialists new ways to create and operate.

The Scaling Europe show is presented by Deel - check them out here:

https://get.deel.com/ruynb7o4lfjk

Sponsors:

Mishcon: https://www.mishcon.com/pop-ups/scaling-europe

Chargebee: https://www.chargebee.com/events/beelieve/london/2026

SurrealDB: https://surrealdb.com/

Airwallex: https://www.airwallex.com/uk?utm_source=other&utm_medium=partner_referral&utm_campaign=v01_emea_multi_ib_dg_prtmk_mofu_scalingeurope

Timestamps:

0:00 - Introduction

0:22 - Why Lovable is expanding its presence in London

1:21 - Building a London hub alongside Stockholm

3:19 - Scaling from startup to 50 million projects

5:02 - Why empowerment sits at the centre of Lovable

6:22 - How AI is changing who gets to build software

7:23 - The simplest way to think about design

10:15 - Why AI could benefit both generalists and specialists

11:44 - Why Lovable focused on the 99% who are not developers

13:21 - Building products for both beginners and experts

14:14 - Nad’s proudest moments building Lovable

15:04 - Building Lovable’s new creative engine

UVC Partners is a European venture capital firm investing in early-stage deep tech companies in Europe, including Proxima Fusion and Isar Aerospace.

Johannes von Borries and Benjamin Erhart, GPs at UVC Partners, back companies working on fusion energy and space systems, where development takes long cycles and requires high capital and coordination between research and industry.

The Scaling Europe show is presented by Deel - check them out here:

https://get.deel.com/ruynb7o4lfjk

Sponsors:

Mishcon: https://www.mishcon.com/pop-ups/scaling-europe

Chargebee: https://www.chargebee.com/events/beelieve/london/2026

SurrealDB: https://surrealdb.com/

Airwallex: https://www.airwallex.com/uk?utm_source=other&utm_medium=partner_referral&utm_campaign=v01_emea_multi_ib_dg_prtmk_mofu_scalingeurope

Timestamps:

0:00 - Introduction

0:32 - UVC Partners

1:10 - Proxima Fusion

3:41 - Isar Aerospace

8:21 - Deep tech investing in Europe

13:15 - Fusion energy

16:08 - Space systems

20:02 - Germany’s deep tech ecosystem

24:27 - Berlin vs Munich

27:04 - Germany’s deep tech ecosystem

AI agents are becoming more capable, but most companies still rely on software built for a different era. Zaro just raised a $5.1 million pre-Seed round led by Cherry Ventures to build infrastructure designed specifically for the agentic era.

Michael Bajwa is CEO and Co-founder of Zaro. Following the sale of Convergence to Salesforce, he believes enterprises have not yet had their ChatGPT moment, and that the next generation of software will be built around AI agents rather than traditional applications.

The Scaling Europe show is presented by Deel. Check them out here:

https://get.deel.com/ruynb7o4lfjk

Sponsors:

Mishcon: https://www.mishcon.com/pop-ups/scaling-europe

Chargebee: https://www.chargebee.com/events/beelieve/london/2026

SurrealDB: https://surrealdb.com/

Airwallex: https://www.airwallex.com/uk?utm_source=other&utm_medium=partner_referral&utm_campaign=v01_emea_multi_ib_dg_prtmk_mofu_scalingeurope

Timestamps:

0:00 - Introduction

0:14 - Zaro’s $5.1m pre-Seed round

2:47 - Lessons from Convergence and Salesforce

5:23 - Making AI agents accessible

8:54 - Coming out of stealth

11:11 - Creating a new category of software

13:25 - Compressing startup timelines

16:01 - Building a category-defining company

17:49 - Hiring battle-tested operators

19:15 - The future of AI-native software

Cheap drones are changing modern warfare, creating demand for new air defence systems that can operate at scale. Alta Ares just raised $50 million to help countries defend against emerging aerial threats.

Hadrien Canter is CEO and Co-founder of Alta Ares. Drawing on his experience working in Ukraine and the Middle East, he believes Europe has a unique opportunity to build a stronger defence ecosystem and reduce its reliance on external security guarantees.

The Scaling Europe show is presented by Deel. Check them out here:

https://get.deel.com/ruynb7o4lfjk

Sponsors:

Mishcon: https://www.mishcon.com/pop-ups/scaling-europe

Chargebee: https://www.chargebee.com/events/beelieve/london/2026

SurrealDB: https://surrealdb.com/

Airwallex: https://www.airwallex.com/uk?utm_source=other&utm_medium=partner_referral&utm_campaign=v01_emea_multi_ib_dg_prtmk_mofu_scalingeurope

Timestamps:

0:00 - Introduction

0:09 - Alta Ares’ $50 funding round

1:24 - Why cheap drones are changing warfare

3:08 - Combining hardware, software and AI

5:26 - Building a defence company from Ukraine

7:51 - NATO, Europe and defence sovereignty

11:37 - Operating on the ground in Ukraine

13:20 - Mission, pressure and attracting talent

15:44 - Resilience, failure and company culture

17:45 - Raising $50m for Alta Ares

20:05 - The investors behind the round and the future of European defence

Factorial just raised $150m from General Catalyst at a $2.5bn valuation as the company enters its next phase as an AI-native business. The new capital will be used to accelerate growth through acquisitions across Europe.

Jordi Romero is Founder and CEO of Factorial, which recently turned 10 years old. He believes AI is changing how software companies serve their customers and sees Europe as one of the best places in the world to build a technology company.

The Scaling Europe show is presented by Deel. Check them out here:

https://get.deel.com/ruynb7o4lfjk

Sponsors:

Mishcon: https://www.mishcon.com/pop-ups/scaling-europe

Chargebee: https://www.chargebee.com/events/beelieve/london/2026

SurrealDB: https://surrealdb.com/

Airwallex: https://www.airwallex.com/uk?utm_source=other&utm_medium=partner_referral&utm_campaign=v01_emea_multi_ib_dg_prtmk_mofu_scalingeurope

Timestamps:

0:00 - Introduction

0:21 - General Catalyst invests $150m in Factorial

1:10 - Why raise capital now?

2:28 - The relationship with General Catalyst

3:55 - How the Customer Value Fund works

5:24 - From HR software to AI-native workforce operations

9:00 - Leading AI transformation inside a company

11:18 - Why Europe is a great place to build

13:16 - Barcelona’s startup ecosystem

15:52 - Lessons from Silicon Valley

18:21 - Building a company for the long term

19:57 - What Factorial looks for when hiring

European investors are moving faster, while global funds are becoming increasingly active across the Nordics. As competition for the best founders intensifies, technical talent is attracting more attention than ever at the earliest stages.

Oliver Molander is Founding General Partner of Inception Fund, which recently expanded to €30 million. Drawing on his experience as both a founder and investor, he believes technical founders build the biggest outcomes, and that Europe should focus on creating indispensable technologies rather than simply talking about sovereignty.

The Scaling Europe show is presented by Deel. Check them out here:

https://get.deel.com/ruynb7o4lfjk

Sponsors:

Mishcon: https://www.mishcon.com/pop-ups/scaling-europe

Chargebee: https://www.chargebee.com/events/beelieve/london/2026

SurrealDB: https://surrealdb.com/

Airwallex: https://www.airwallex.com/uk?utm_source=other&utm_medium=partner_referral&utm_campaign=v01_emea_multi_ib_dg_prtmk_mofu_scalingeurope

Timestamps:

0:00 - Introduction

0:18 - Why Inception Fund was created

1:42 - Backing technical founders at inception

2:25 - Why European investors need to move faster

4:17 - The rise of a new generation of European funds

5:25 - Working with Andreessen Horowitz, Sequoia and Lightspeed

7:08 - Building the LP base behind Inception Fund

9:31 - Convincing LPs to back a first-time fund manager

12:02 - Why Inception invested in Recursive

15:42 - Stockholm, Finland and the future of Nordic tech

20:52 - EQT and the €5 billion European scale-up fund

22:20 - Why Europe should focus on indispensability, not sovereignty