Newsletter 20.10.25 | Europe’s Venture Moment: Competing Globally, Building Locally
From food and water security to AI and defense - how corporate venture is turning existential challenges into long-term innovation.
This week, we zoom out — not from Europe, but through it — to see our continent in context. Not as an island, but as a player in a global venture game still shaped by Silicon Valley’s speed and Asia’s scale.
At the EUCVC Summit, the conversations got real — from feeding 10 billion people and powering the AI age to fixing the invisible crisis of water and redefining what “defense tech” means in a dual-use world. Charlie Hayward from Global Corporate Venturing laid out the data showing Europe’s lag in CVC lifespan and capital intensity; Francesco Di Lorenzo from Copenhagen Business School showed how the Nordics are leading by example but still fragmented; and ACME’s Christian Tang-Jespersen with Augustinus Fabrikker’s Claus Gregersen shared how Europe can plug into the Valley without becoming it.
Through it all, one thread ran clear: Europe’s edge won’t come from imitation, but from integration — linking global networks with our industrial depth, regulatory strength, and long-game mindset. The goal isn’t to build a second Silicon Valley, but to build Europe’s own engine for sovereignty, innovation, and staying power.
Alongside, Georg Reifferscheid of REWE Group joins us on the pod to show how one of Europe’s largest retailers is building climate tech ventures inside a €94 billion cooperative — a masterclass in corporate transformation that actually ships.
And if you like your frontier talk with a sharper edge, don’t miss our AI deep dives: Nadia Carlsten and Bjarke Ruse Sejersen on Europe’s own “AI factories,” and Crispin Leick on why the data economy won’t run without an energy revolution.
Hope you enjoy — and as always, keep building what lasts.
With 💖
David & Andreas
Table of Contents
🎧 Podcasts of The Week
🏢 The EUCVC Summit
Feeding the World – Bodil Sidén (Kost Capital) & Marika King (PINC)
AI Factory of Intelligence in Practice – Nadia Carlsten (DCAI) & Bjarke Ruse Sejrsen (GoAutonomous)
Charlie Hayward, Global Corporate Venturing: The Data Behind the $100B CVC Wave
Francesco Di Lorenzo, Copenhagen Business School: Nordic CVC Insights
🎧 Podcasts of The Week
Georg Reifferscheid, REWE Group: Building Climate Tech Ventures Inside a €94B Retail Giant
We dive into the corporate venturing journey of Georg Reifferscheid, Head of Climate Tech at REWE Group, one of Europe’s largest retailers with €94B in revenue and 350,000 employees.
From supermarkets and travel agencies to DIY stores and hotels, REWE’s reach is massive — and so are its sustainability challenges. Georg joins Jeppe to unpack how REWE Ventures is building the innovation engine for a €100B cooperative — across Retail Tech, E-Grocery, Food Tech, and Climate Tech — and what it really takes to turn corporate ambition into decarbonization impact.
🎧 Listen on Apple or Spotify — or queue it for later with chapters ready to go.
Alexey Plesakov and Alexander Lis, Social Discovery Ventures (SDV): Betting Across Borders & Global Play on European VC
We dive into the global investing journey of Alexey Plesakov and Alexander Lis, founders of Social Discovery Ventures (SDV), a quietly influential investment firm deploying capital across the US and Europe. From bootstrapped dating platforms to a structured global VC portfolio, SDV’s reach is broad — and so are its ambitions. Alexey and Alexander join Jeppe to unpack how SDV balances fund and direct investments, identifies emerging managers, and navigates today’s uncertain macro climate — revealing what it really takes to turn disciplined venture strategy into long-term impact.
🎧 Listen on Apple or Spotify — or queue it for later with chapters ready to go.
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🏢 EUVC Summit: Europe’s Innovation Frontiers
If corporates treat CVC as a three-year experiment, Europe will miss the moment. These bets demand 10–20 year commitments. They require C-suites to see CVC not as optional R&D spend, but as a strategic lens on existential challenges.
Beyond governance and fund structures, the real test of whether European CVC is working lies in what we choose to invest in.
Climate resilience. Energy transition. Digital health. AI. Food security. Mobility. Defense. These aren’t just venture themes — they are strategic imperatives for Europe’s competitiveness.
Done right, corporate venturing embeds innovation into strategy and culture — positioning corporates at the heart of solving Europe’s biggest problems, while ensuring the continent doesn’t become a follower in AI, energy, and mobility.
At the EUVC Corporate Venturing Summit, leaders mapped out how CVC can drive Europe’s frontier industries.
Feeding the World – Bodil Sidén (Kost Capital) & Marika King (PINC)
Bodil Sidén, Partner at Kost Capital, and Marika King, Head of PINC (Paulig’s venture arm), tackled the food challenge head-on: feeding 10 billion people sustainably.
Lesson: Food innovation is about resilience as much as efficiency. Bodil pointed to rising fragility in supply chains, while Marika emphasized the role of consumer trust — new proteins and agri-tech solutions must not only scale, but also win hearts and stomachs.
Why it matters: Europe’s food security is geopolitics. If corporates don’t step up, we risk becoming import-dependent on critical food innovations. By backing startups, corporates can help Europe lead in alternative proteins, food traceability, and sustainable farming tech.
🎧 Listen on Apple or Spotify - or queue it for later with chapters ready to go.
Mapping Startup Opportunities – Samuli Sirén (Redstone)
Samuli Sirén, Founding Partner at Redstone, showed how data-driven mapping can uncover where European founders are clustering and which sectors are underfunded.
Lesson: Smart data can beat gut instinct in corporate venturing. Samuli argued corporates should use structured startup mapping to guide investment themes, rather than chasing hype cycles.
Why it matters: Europe can’t afford to keep missing the obvious. If corporates use data properly, they can deploy capital into overlooked but critical frontier areas — building resilience and competitive advantage.
🎧 Listen on Apple or Spotify - or queue it for later with chapters ready to go.
AI Factory of Intelligence in Practice – Nadia Carlsten (DCAI) & Bjarke Ruse Sejersen (GoAutonomous)
Nadia Carlsten of DCAI and Bjarke Ruse Sejersen of GoAutonomous went from hype to practice, showing how compute infrastructure and applied AI models are transforming industry.
Lesson: Europe needs its own AI factories. Nadia argued that access to compute and sovereign infrastructure is the new industrial base. Bjarke showed how GoAutonomous trained proprietary B2B models on European data to serve industrial clients better than generic U.S. models.
Why it matters: Without AI sovereignty, Europe becomes a permanent client of U.S. and Chinese tech. Corporate-backed AI infrastructure and use cases are essential to retaining control of data, industry competitiveness, and long-term growth.
🎧 Listen on Apple or Spotify - or queue it for later with chapters ready to go.
The Missing Water – Gijs de Bruin (PureTerra Ventures) & Sead Bajrovic (Water Impact Partners)
Gijs de Bruin of PureTerra Ventures and Sead Bajrovic of Water Impact Partners made clear that water is Europe’s most underpriced and under-innovated resource.
Lesson: Water is the invisible crisis. Gijs showed how startups are building tech for treatment, reuse, and efficiency, but investment flows lag far behind climate and energy. Sead argued corporates can’t afford to wait — every industrial sector depends on water security.
Why it matters: No water, no industry. Energy, food, and health all collapse without resilient water systems. CVC-backed startups can close the innovation gap before scarcity becomes systemic.
🎧 Listen on Apple or Spotify — or queue it for later with chapters ready to go.
Fueling the AI Age: Europe’s Energy Imperative – Crispin Leick (EnBW New Ventures) & Georg Reifferscheid (REWE Group)
Crispin Leick from EnBW New Ventures and Georg Reifferscheid from REWE Group highlighted the collision between AI’s compute hunger and Europe’s fragile energy grid.
Lesson: AI is nothing without energy. Crispin argued that corporates must invest in energy storage, smart grids, and renewables not just for ESG reasons, but to power the data economy. Georg added that retail, logistics, and food supply chains will all break if energy shocks persist.
Why it matters: AI leadership requires energy leadership. Europe cannot hope to lead in AI if its power systems remain dependent on imports and fossil volatility. CVC can be the bridge that channels industrial capital into future-proofing the grid.
🎧 Listen on Apple or Spotify - or queue it for later with chapters ready to go.
Defense, Disruption & Dual-Use: Europe’s Next Frontier in Innovation – Tanja Lind Melskens (Terma Group)
Tanja Lind Melskens of Terma Group confronted Europe’s defense taboo head-on.
Lesson: Defense tech is dual-use innovation. Tanja argued that Europe cannot shy away from investing in aerospace, cyber, and security tech. These markets are where frontier materials, AI, and automation are commercialized fastest — and they spill directly into civilian industries.
Why it matters: Strategic autonomy demands a defense lens. Without corporate and venture capital flowing into dual-use defense, Europe risks dependency on U.S. and Asian primes for critical technologies.
🎧 Listen on Apple or Spotify - or queue it for later with chapters ready to go.
State of the Market / Trends in CVC – Charlie Hayward (Global Corporate Venturing)
Charlie Hayward of Global Corporate Venturing set the stage with data and trends from across the world.
Lesson: Corporate venturing is now a core pillar of the global VC market — but staying power is the differentiator. Charlie showed how CVCs already account for a quarter of global VC activity, with Asia leading in scale and the U.S. leading in velocity. Europe lags in both capital intensity and lifespan.
Why it matters: Europe cannot compete globally with three-year CVCs. To win founder trust and scale frontier technologies, corporates must adopt structures and mindsets that last across CEOs and market cycles. Otherwise, Europe remains a second-choice market for the best startups.
Innovation in Health – Anne C. Fleischer (Novo Nordisk) & Henrijette Richter (Sofinnova Partners)
Anne C. Fleischer, Global VP at Novo Nordisk, and Henrijette Richter, Managing Partner at Sofinnova Partners, outlined the convergence of biotech, digital health, and AI.
Lesson: Health innovation is shifting from pills to platforms. Anne explained how Novo Nordisk uses digital tools and AI to personalize treatments, while Henrijette stressed that investability now depends on clear data rights and distribution pathways — not just scientific promise.
Why it matters: Healthcare is Europe’s biggest cost driver — and biggest opportunity. Corporates that embed CVC into health innovation can transform patient care and strengthen Europe’s life sciences leadership.
State of Nordic CVC – Francesco Di Lorenzo (Copenhagen Business School)
Francesco Di Lorenzo from Copenhagen Business School presented fresh data on how Nordic corporates are using venture capital.
Lesson: Nordic corporates punch above their weight in CVC — but fragmentation is still a weakness. Francesco’s research showed how Nordic CVCs are more active than their size would suggest, particularly in energy, industrials, and digital health. But portfolios remain small, strategies inconsistent, and governance fragile.
Why it matters: The Nordics are Europe’s proving ground for CVC. If even the most innovative corporate regions can’t scale consistent, long-lived CVC programs, the challenge for the rest of Europe is even greater. Learning from the Nordics means embracing their strengths — proximity to industry and fast decision-making — while fixing the weakness of short-termism.
Tapping into Silicon Valley – Christian Tang-Jespersen (ACME) & Claus Gregersen (Augustinus Fabrikker)
Christian Tang-Jespersen of ACME and Claus Gregersen of Augustinus Fabrikker shared lessons on connecting with Silicon Valley while building from Europe.
Lesson: Europe must engage Silicon Valley without copying it. Christian stressed that Valley norms — blitzscaling, winner-takes-all capital deployment — often don’t translate to Europe’s market realities. Claus highlighted the value of selective engagement: building bridges for talent, deal flow, and co-investment, while ensuring European corporates bring their own industry edge and local focus.
Why it matters: If Europe only imitates, we will always lag. The opportunity is to connect with Silicon Valley’s networks while leveraging Europe’s unique strengths — industrial depth, regulatory power, and proximity to frontier challenges like energy and sustainability. That combination is Europe’s distinct playbook.
💡 Final Takeaway:
Europe must look outward to stay relevant in the global venture game — but not at the expense of its own identity.
The world doesn’t need a second Silicon Valley. It needs a European model: one where corporates play the long game, CVCs survive leadership changes, and capital flows into the strategic frontiers that will define sovereignty and competitiveness.
If we keep treating CVC as a side project, Europe will remain dependent on U.S. and Asian investors to fund our future. But if we build staying power into corporate venturing, Europe can shape the technologies that matter most - on our own terms.
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