EUVC

Cheap, reliable energy is becoming a strategic advantage. As AI, data centres and manufacturing demand more power, the economics of electricity increasingly influence which countries and companies can stay competitive.Recorded at EUVC Summit 2026, Joe McDonald, CEO and Co-Founder of tem, joins Adam Chirkowski, Partner at AlbionVC, to discuss how the energy market needs to change and why the UK and parts of Europe could be particularly well positioned to build major new companies in the sector.Joe explains how tem is rebuilding the transaction infrastructure behind energy using AI, why layers of intermediation still add significant cost and what it takes to compete with long-established utilities. The conversation also explores why the complexity of energy can create defensibility, how the sector could develop in a similar way to fintech and why lowering the cost of the electron matters far beyond the energy industry itself.HighlightsWhy energy costs increasingly influence national competitivenessHow AI and data centres are increasing the importance of low-cost powerWhere friction still exists in energy transactionsHow tem is building new transaction infrastructureWhy incumbents struggle to reinvent their own business modelsHow complexity can become a moat in energyWhy the UK and parts of Europe may have a structural advantageWhat the energy sector can learn from fintechWhy Europe could produce the next generation of major energy companies

A credible CVC does not have to start with a traditional fund structure. Haufe Group Ventures⁠ built its model around an evergreen balance-sheet setup, a lean team and a clear mandate, proving the approach through deals rather than a large fund launch.In this episode, Andreas Munk Holm and Jeppe Høier speak with Jasper Roll, Managing Director at Haufe Group Ventures⁠, about how he helped build the venture arm of a family-owned German software company from the ground up.Jasper explains how Haufe combines direct investments, venture building and, more recently, LP investing, why the team deliberately started small and how three investors have completed more than 20 deals, including follow-ons. He also shares why early-stage CVCs need a clear portfolio strategy, enough commitment to build it properly and the discipline to walk away when valuations or deal dynamics do not fit the model.The conversation also explores how Haufe manages expectations around venture timelines and failures, how a young CVC builds credibility with founders and other investors and why Jasper believes corporates can no longer rely on innovation happening entirely within their own walls.HighlightsHow to build a credible CVC without a traditional fund structureWhy Haufe deliberately started with a lean setupHow direct investing, venture building and LP investing work togetherHow a three-person investment team has completed more than 20 dealsWhy CVCs need conviction before committing capitalWhy saying no can be harder than saying yesHow to manage internal expectations around failures and long-term returnsHow young CVCs build credibility with founders and investorsWhy corporates need to engage with innovation beyond their own wallsTimestamps(00:00) Intro(02:00) From startup operator to building Haufe Group Ventures(04:00) Designing Haufe’s corporate venturing model(09:00) AI, SaaS and the new moats in software(16:00) How a three-person team completed 20+ deals(24:00) Navigating inflated AI rounds and knowing when to say no(28:00) Building credibility and deal flow as a young CVC(34:00) Managing failures, returns and internal expectations(40:00) What European corporates should learn from the Mittelstand

Getting pension capital into venture is not simply about proving that the returns are attractive. It requires building an investment model that institutions can actually underwrite, while knowing which parts of the strategy should remain non-negotiable.Pavel Mucha, Founder of Aspire11, explains how a Czech pension fund committed €500 million to venture and growth investing, why the team chose to start with €500 million rather than the €2 billion initially discussed and how they structured the platform to make pension capital work in practice.The conversation covers how Aspire11 adapted the economics, absorbed initial costs and introduced shorter commitment windows, while maintaining its position on avoiding home bias, accepting long holding periods and building concentrated portfolios. Pavel also discusses why attracting younger savers mattered, what venture can learn from pension investment in buyout funds and how the Canadian pension model influenced Aspire11.HighlightsWhy Aspire11 started with €500m rather than €2bnWhat pension capital needed from a venture investment modelWhy attracting younger savers mattered alongside returnsWhat venture can learn from pension investment in buyoutsWhy Aspire11 rejected a domestic-only investment mandateWhy long holding periods and concentration matteredHow Aspire11 removed an additional management-fee layerWhy the team absorbed initial costs itselfHow vintage windows made commitments easier to manageHow fund investments and later-stage direct investments helped smooth the J-curve

Sending a car or moped across a city to deliver a single meal is an expensive and inefficient way to move food. Drone delivery offers a different model, with the potential to make last-mile logistics faster, cheaper and cleaner.Patrick Murphy, Co-founder and Managing Partner at Tapestry VC and a founding investor and board member at Manna, explains how autonomous drone delivery is moving into real-world use. He shares how Manna has completed 300,000 deliveries, partnered with major delivery platforms and raised $50 million to support its global expansion.The conversation covers the economics of drone delivery, how the technology works in practice and why replacing delivery cars and mopeds could change the way local logistics operate.HighlightsWhy delivery by car is so inefficientHow drone delivery can reduce cost and delivery timeWhy Manna believes autonomous delivery is ready to go mainstreamHow the drones operate in practiceWhat 300,000 completed deliveries have demonstratedWhy major delivery platforms are partnering with MannaHow the company plans to expand to hundreds of citiesWhy drone delivery could replace millions of car journeysThis session was recorded at the Love Tomorrow Summit, where EUVC curated the investor-focused programme.

ElevenLabs reaching a $22 billion valuation is another sign that Europe can produce globally competitive AI companies. But as personal agents become more capable, Europe also risks falling behind if consumers get access later and the US captures the learning curve first.In this episode of This Week in European Tech, Dan Bowyer, Mads Jensen and Priyanka Savjani of SuperSeed discuss what ElevenLabs says about Europe’s AI potential, why Mads believes UK venture is in its strongest shape since 2016 and how regulation could shape where the next generation of consumer AI products gets built and adopted.The conversation also covers the tension between making AI agents more persistent and keeping them within safe boundaries, what AI safety could learn from aviation, AMD’s acquisition of World Labs and what Anthropic’s economics reveal about the cost of competing at the frontier.HighlightsWhat ElevenLabs’ $22B valuation says about European AIWhy UK venture may be in its strongest shape since 2016Why Europe could fall behind in personal AI agentsHow regulation is shaping where consumer AI products launchWhy persistence makes AI agents both more useful and harder to controlWhat AI safety could learn from aviationWhy AMD acquired World LabsWhat Anthropic’s economics reveal about frontier AI