In the third and final episode demystifying private equity, we explore the world of venture capital. While venture capital has delivered exceptional returns for some investors and founders, it’s also very high risk. So, is vibrant venture capital essential for economies seeking to boost innovation and drive productive growth?

In this episode of Top of the Agenda, Dr Helen Jenkins is joined by Tim Jenkinson, Oxera Partner and Professor of Finance at the University of Oxford’s Said Business School, and Francis Woolley, Senior Consultant at Oxera. Together, they unpack what venture capital is, how it works, and the life cycle of venture capital investments.

Since the end of the Cold War, Europe has enjoyed a ‘peace dividend’ driven by a reduced perception of military threat. Recent developments — including Russia’s invasion of Ukraine — have fundamentally altered this landscape. Europe now faces a hostile military power on its eastern border, while questions remain over the long-term durability of US security guarantees.

In response, defence spending has risen sharply across the continent. Frontline states in Eastern Europe have seen the largest increases, but nearly all European countries are boosting their defence budgets. As a result, defence has returned to the centre of economic and political decision-making across Europe.

In this episode of Top of the Agenda, Dr Helen Jenkins speaks with Aimie Stone, Chief Economist at ADS Group — the trade association representing the UK’s aerospace, defence, security and space industries — and Enrico Russo, Managing Consultant at Oxera. Together, they explore the challenges facing the European defence sector and consider how governments can best mobilise resources to strengthen the region’s security.

Over the past decade, the scope of European competition policy has expanded significantly beyond its traditional focus on cartels, mergers, abuses of dominance and state aid controls. Today, it is increasingly expected to contribute to broader policy objectives, including ensuring fair digital markets, supporting sustainability, resilience and strategic sovereignty, and safeguarding Europe’s competitiveness on the global stage.

In this episode of Top of the Agenda, Dr Helen Jenkins speaks with Olivier Guersent, who, following a long career that began at the French Ministry of Economic and Finance and continued at the European Commission from the early 1990s, most recently served as Director General for Competition at the European Commission. Together, they reflect on the major transformations in European competition policy over recent decades and explore the challenges and developments shaping its present and future.

Climate change is no longer a future threat, it’s a present-day reality that is reshaping economies, ecosystems, and societies around the world. As mitigation is no longer enough; adaptation is essential. Yet, despite increasing recognition of the need to invest in adaptation, global efforts remain fragmented and underfunded.

In our latest episode of Top of the Agenda, guest host Tim Jenkinson is joined by Sophie Talarico, Climate Policy Manager, and Sandra Hanni, Head of Climate Policy, both from the International Chamber of Commerce (ICC), alongside Georgia Davies, Senior Consultant at Oxera. Together, they explore how the private sector can play a pivotal role in advancing and scaling up climate adaptation solutions.

The UK government aims to stimulate economic growth by encouraging more investment in British businesses. One potential source of that investment is pension funds, but would such policies truly serve the long-term interests of savers and/or the short-term needs of the economy?

In this episode of Top of the Agenda, Dr Helen Jenkins speaks with Julian Franks, Professor of Finance at London Business School, and Sean Thomas, Principal at Oxera. Together, they explore the challenges governments face in designing policies that boost productivity and drive sustainable growth.

Earlier this year, the European Commission set out its recommendations for implementing its clean industrial deal—aimed at supporting the EU’s decarbonisation goals while maintaining global competitiveness. Although sectors like electricity generation have seen substantial emissions reductions, many industrial areas still face a steep path ahead.

In this episode of Top of the Agenda, Dr Helen Jenkins speaks with Christophe Schramm, Head of Strategy and Sustainability at Siemens Energy Transformation of Industries, and Sahar Shamsi, Partner at Oxera. Together, they discuss how decarbonising industry throughout Europe is essential for achieving net zero goals and examine the key challenges—including policy gaps, regulatory uncertainty, and the need to align financial investment with climate ambitions.

Despite progress in education, women remain significantly underrepresented in many STEM (Science, Technology, Engineering and Maths) fields—and those who do enter are more likely to leave mid-career. In the UK, for example, women make up 30% of economics undergraduates, but just 15% of professors. So why are we still failing to retain this highly skilled and educated talent?

In this episode of Top of the Agenda, Dr Helen Jenkins is joined by Doctor Clémentine Van Effenterre, Professor at the University of Toronto, and Professor Sarah Smith OBE, from the University of Bristol. Together, they delve into the structural barriers, unconscious biases, and rigid career pathways that contribute to the attrition of women in STEM—and discuss what needs to change to build more inclusive and sustainable careers in the field.

Across developed economies—including the UK, France, Japan, and the US—productivity growth has been slowing for decades. This trend appears to contradict the rapid pace of technological innovation, particularly in AI, and the transformative effects of globalisation. So why, despite all this progress, is economic growth falling?

In this episode of Top of the Agenda, Dr Helen Jenkins is joined by Professor Ian Goldin, Professor of Globalisation and Development at the University of Oxford. Together, they explore the paradox of declining productivity in an age of innovation, drawing on Professor Goldin’s extensive experience advising global institutions on economic growth, development, and migration.

The green transition isn't just about switching from fossil fuels to renewable or zero-carbon sources—it also requires smarter, more efficient use of energy. By harnessing technology, improving energy efficiency, and generating power closer to where it’s consumed, we can cut both costs and carbon emissions.

In this episode of Top of the Agenda, Dr Helen Jenkins is joined by Jonathan Maxwell, founder and CEO of Sustainable Development Capital LLP (SDCL). Together, they explore how private finance can play a pivotal role in advancing sustainable infrastructure, the opportunities and barriers in deploying energy-efficient technologies, and using private finance to support these new technologies.

In this episode, one year on from their conversation in the very first Top of the Agenda podcast, Dr Helen Jenkins welcomes back Professor Richard Susskind CBE.

Together they delve into the themes in Professor Susskind’s new book, ‘How to think about AI: A guide for the perplexed’, and share their thoughts on how we all need to think much more about AI to both harness the opportunities for humanity and avoid and mitigate the risks.

Following on from the discussion Dr Sebastian Wernicke, a Partner at Oxera and an expert in leveraging data science, machine learning and AI, joins Helen to share his insights on how businesses and governments are thinking about and responding to the challenges of implementing AI today.