EUVC newsletter - 31.03.2025
Welcome to our community-sourced newsletter, which features the most important news from the European venture ecosystem and the latest submissions to the EUVC insights platform—the platform that collects and amplifies the best long-form pieces from the EUVC community.
Click here to submit your articles, events, or projects 📥
📝 Article | From Deposits to Deals: Why the EU’s Capital Markets Push Matters for Venture
Why it matters: The EU’s Savings and Investments Union (SIU) is a structural overhaul aiming to mobilize €10T+ in household savings and close Europe’s €750–800B annual investment gap. Key reforms include a bloc-wide investment account (Q4 2025), simplified due diligence, cross-border fund distribution rules, and secondary market liquidity by 2026.
Venture capital and PE are explicitly named as target asset classes, unlocking potential LP capital from households, easing cross-border fundraising, and enabling better exit options. If executed, this could be the most significant capital market reform for European VC in decades.
📝 Article | Baltic Business Angels to Invest Half a Million Euros in Latitude59 Pitch Competition
Why it matters: EstBAN, LatBAN, and LitBAN are teaming up for a €500k syndicate at Latitude59, marking their first-ever joint investment effort. The move signals increased cross-border cooperation in the Baltic VC scene and strengthens the region’s position as a unified early-stage hub.
With 526 applications from 53 countries in 2024 and nearly €2M raised by past winners, Latitude59 is cementing its status as a key deal-sourcing platform.
🎙Podcast | This Week in European Tech with Dan Bowyer, Mads Jensen, Lomax Ward and Alex Macdonald
Why it matters: In this week’s episode, SuperSeed’s Dan Bowyer & Mads Jensen unpack a stack of EU tech news with Alex Macdonald (Sequel) & Lomax Ward (Outsized Ventures). SAP overtaking Novo as Europe’s most valuable firm marks a shift from pharma to AI-fueled enterprise software. 23andMe’s bankruptcy highlights how raw data alone doesn’t equal monetization.
Project Europe emerges as a Thiel-style play to keep under-25 founder talent building locally. Meanwhile, the UK Spring Statement disappoints startups, and OpenAI’s $40B raise signals compute constraints and mounting decentralization pressure. Big themes? Capital allocation, youth backing, and the open vs closed AI war.
📝 Article | Reinventing TV Advertising for SMEs
Why it matters: RTL AdAlliance is opening up TV advertising to micro and small businesses across Europe through addressable TV, AI automation, and a self-service platform. Campaigns now start from as little as €100, targeting local audiences using postal code and demographic data.
With 150+ reseller partners and plans to expand into Austria and Italy, RTL is turning a legacy media channel into a scalable, data-driven growth lever for SMEs—unlocking a new revenue stream in the European media landscape.
💌 Resources | VC secondary market players database
Why it matters: Rando Rannus, General Partner at Siena Secondary Fund, has compiled and shared a list of active secondary buyers in the VC market to support stakeholders navigating secondary transactions.
While the data is self-collected and may evolve, it offers a useful starting point for founders, GPs, and LPs exploring secondary liquidity options in the European ecosystem.
Why it matters: In this episode of the EUVC podcast, Andreas 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.
📝 Article | Europe's New Defense
Why it matters: Jonatan Luther-Bergquist from Inflection.xyz outlines the rise of "New Defense"—venture-backable startups leveraging autonomy, sensors, and modular design to disrupt legacy defense procurement in Europe. Despite €1.3T+ in strategic investment and shifting public sentiment, the ecosystem remains fragmented, with barriers like cross-border inefficiencies and regulatory inertia.
For VCs, this is a moment: sovereign tech is now a dual-use opportunity, with deeptech, AI, and hardware startups poised to reshape how Europe defends itself—faster, cheaper, and at scale.
📝 Article | S-1 Season: Klarna, Coreweave, Stubhub
Why it matters: Coreweave, Klarna, and Stubhub filed S-1s revealing key data points on hyperscale AI infra, consumer credit models, and live event marketplaces. Coreweave reported 119x revenue growth in 2 years, $16B in remaining contract value, and 96% revenue from committed contracts—despite concentration risk (62% from Microsoft). Klarna earns 75% from merchants, with $87 avg balances and questions on interest-bearing credit.
Stubhub is growing GMS ~30% YoY, with a 20% take rate, outperforming peers like Eventbrite and Etsy. For VCs, the filings offer real benchmarks on scale, margins, and monetisation across sectors ahead of a potential IPO thaw.
🎙Podcast | Multiple Capital's Ertan Can on Investing in Micro Funds For Outlier Returns
Why it matters: In this episode, Andreas talks with Ertan Can, the Founding General Partner of Multiple Capital, a venture capital fund based in Luxembourg. Together, they delve into how micro funds work and why they’re becoming an attractive investment option for limited partners.
The discussion also touches on the influence of local networks and market niches in sourcing high-quality deals and future trends in venture capital, highlighting how a strategic focus on micro funds may offer more sustainable and robust returns for LPs.
📝 Article | Climate VCs and startups are chasing the defence tech trend
Why it matters: With climate tech funding declining and European defence budgets rising, VCs and startups are repositioning climate innovations under the banner of "resilience." Funds like World Fund and NATO’s €1B Innovation Fund are broadening mandates to include dual-use tech—where climate and defence intersect. Startups like GDI (batteries for both EVs and military) highlight this shift.
While some see a hype-driven pivot, others expect lasting convergence, especially in hardware–software plays. For VCs, this marks a potential reallocation of capital and narrative—climate’s next chapter may be defense-adjacent.
💬 Survey | What is the future of investments in Central and Eastern Europe?
Join the Money in Motion research project, an initiative by The Recursive in collaboration with Grammig Advisory’s Central & Eastern European Wealth Summit. They are diving deep into how High-Net-Worth Individuals (HNWIs) invest, what emerging trends are rising, and where private capital flows in the CEE region. Your insights will help the ecosystem better understand the opportunities and challenges facing this market. All responses are kept strictly confidential.
Additionally, you can get early access to key findings and exclusive invitations to wealth and investment portfolio management events within the region.
Ready to make your voice heard?
Click the survey link below and share your perspective.
Why it matters: In this episode, Andreas talks with Enis Hulli, General Partner at e2vc, and Akin Babayigit, Co-founder of Tripledot Studios. Together, they discuss how mobile gaming has emerged as a massive industry driven by a unique blend of creativity and data analytics and how the sector’s scale and business models differ significantly from traditional console and PC gaming.
In this conversation, Akin and Enis delve into the latest trends reshaping mobile gaming, including the rapid adoption of AI to enhance gameplay and optimize monetization strategies. They also discuss the launch of Arcadia Gaming Advisors, a new $100 million fund designed to drive the next wave of innovation in gaming.
📝 Article | Understanding why B2B content works (or why it doesn't)
Why it matters: Demand-Genius is building attribution software to help B2B sales and marketing teams track how content impacts conversion across the sales funnel—from discovery to close. Instead of relying on aggregate analytics or messy spreadsheets, it links individual user journeys to specific content, offering clearer ROI insights.
With early traction and plans to scale, it’s tackling a growing pain point in B2B SaaS: proving what content drives actual revenue. For VCs, it’s an early bet in the revenue intelligence layer of go-to-market tooling.
Why it matters: In this episode, Andreas talks with Jonatan Luther-Bergquist from Inflection.xyz, who shares his journey in framing crypto fundamentally as a compute technology and formulating their thesis on sovereign compute back in 2023. Jonatan explains that while the early work in crypto helped lay the groundwork for disruptive technology, he saw a bigger picture emerging - a need for Europe and other regions to improve their digital independence.
In this conversation, Jonatan dives into the three pillars of his sovereign compute thesis: scaling compute capabilities, building resilient systems, and ensuring access to data flows.
📝 Article | Crush Your Enemies Totally: More Yellowstone Wisdom
Why it matters: In a fiery geopolitical reflection, Marvin Liao argues that the U.S. has undermined its global position through strategic missteps, internal dysfunction, and failure to act decisively.
Using Yellowstone as metaphor, he calls for a personal and national reset—via investing in defense tech, deeptech, and elite talent migration. For VCs, it's both a macro critique and a directional bet: the future will reward those building technological and sovereign resilience in an unstable world.
🎙Podcast | MediaTech Roundtable on Transforming Legacy Media and Redefining Content Creation with AI
Why it matters: In this episode of the EUVC podcast, Andreas is joined by Victoria Palatnik, Managing Partner at Raw Ventures, Peter Effenberg, Founder & CEO of Jay, and Severin Zugmayer, Founder of New Renaissance Ventures.
The discussion starts by exploring why consumers are returning to trusted, branded media for quality journalism, even as the digital world bombards us with endless information streams. It also tackles the challenges posed by regulatory frameworks like GDPR, the rapid pace of technological change, and emerging opportunities in areas such as shoppable content and digital twin technology—painting an engaging picture of the media tech future.
Up next in the EUVC community, we’ve got exclusive AMAs, expert-led workshops, and insider discussions you won’t want to miss. If you are not a member already, join now to connect and learn!
✍🏻 EUVC Masterclass | The Secondaries Market: Key Insights, Strategies, and Applications
Get access to the full potential of the secondary market. Join our exclusive 2-hour online masterclass and get expert insights on liquidity strategies, valuation techniques, and successful selling tactics.
Why attend?
Demystify the fundamentals of the secondary market
Understand the differences between direct and fund secondaries
Gain actionable insights on valuation, pricing, and sale preparation
⏰ April 8 | Tuesday | 💻 Online
💬 Community event | LP AMA with Herve Cuviliez
Ready to gain insider insights from a seasoned VC leader?
Join our exclusive AMA with Hervé Cuviliez, co-founder of ID4 Ventures, in a small-group, interactive setting where you can ask real questions and get real answers.
Why attend?
Get direct insights from a seasoned investor with 20 years of experience
Learn practical tips and strategies to elevate your fundraising game
Build connections with fellow VCs and LPs in an intimate setting
⏰ April 23 | Tuesday | 💻 Online | Available for Members Only
Join us at the EUVC Summit & Awards Show
Spend a day with the best VCs and LPs of European venture at a summit with just one purpose: Chart the path to European progress & crown the winners of this year's EUVC Awards 🏆. Tickets are on sale now, and EUVC community members receive a 50% discount.
Adventures and Deep Connection Await 💞
Step beyond the ordinary into a retreat that challenges and transforms you—as a partner and as an individual. Ten couples will embark on an adventure of reflection, connection, and shared resilience, guided by nature and a like-minded community. Traverse mountains, navigate the sea, and embrace stillness under the Corsican sky. This is not an escape—it’s a chance to be fully present, together, in adventure & in life.
🗓️ The VC Conferences You Can’t Miss
There are some events that just have to be on the calendar. Here’s our list, hit us up if you’re going, we’d love to meet!
0100 Europe 2025 | 📆 02 - 04 April 2025 | 🇳🇱 Amsterdam, The Netherlands
0100 Emerging Europe 2025 | 📆 14-16 May 2025 | 🇭🇺 Budapest, Hungary
GITEX Europe 2025 | 📆 23 - 25 May 2025 | 🇩🇪 Berlin, Germany