In this episode of the EUVC podcast, we’re talking to Ben Saunders, a pioneer in one of the most demanding fields on Earth and an accomplished climate investor.
Ben is arguably one of the most acclaimed explorers in the world today. He's pushed the boundaries of human endurance and traveled more than 4,500 miles (7,000km) on foot in the polar regions. Ben is only the third person in history to ski solo to the North and South Poles, and he holds the record for the longest-ever polar journey on foot.
But Ben’s pursuits extend beyond the physical. He is now an active climate investor but recently decided to halt the fundraising process for his fund, Kintanna Ventures.
Today's episode promises to be among our most candid and thought-provoking conversations. Ben will share his unique journey from extreme exploration to entrepreneurship and back again. We'll dive deep into the reasons behind his decision to stop the raise of Kintanna Ventures, offering an unparalleled look into the challenges of fund creation, today’s market dynamics, and the importance of grit—how to develop it and how expedition grit compares and differs to entrepreneurial grit.
Watch it here or add it to your episodes on Apple or Spotify 🎧
Conquer Corsica alongside Ben Saunders
Join us for a partners retreat packed with awe-inspiring treks, thrilling canyoning and river rafting, and inspiring sessions balanced with moments of reflection and exceptional dining. Be inspired by world record-breaking polar explorer Ben Saunders, challenged by our ex-SAS commander, and discover how to connect in an introductory deep work session with GOAT-investor Fred Destin.
✍️ Show notes
1. What Drives You to Attempt Impossible Expeditions?
Ben Saunders' motivation for undertaking extreme polar expeditions was deeply rooted in his early life experiences. Growing up without a father and lacking strong male role models, Ben gravitated toward heroic figures in exploration and adventure. This desire to prove himself led him to push physical and mental boundaries in the harshest environments on Earth. Over time, his motivation shifted from seeking external validation to mastering his craft and pushing the limits of what was considered possible in exploration.
2. How Does Grit in Exploration Compare to The Grit Needed in VC Fundraise?
Ben draws a parallel between the grit required for polar exploration and the resilience needed to raise a first-time venture fund. While exploration tests physical endurance and the ability to navigate life-or-death decisions, fundraising demands emotional resilience, strategic thinking, and adaptability. Ben highlights that grit isn’t solely about persistence but also about knowing when to adapt or change course—an insight that ultimately led him to step back from raising his fund.
3. So why Did Ben Decide to Quit Raising His Fund?
After two years of trying to raise Kintanna Ventures, Ben decided to stop. This decision wasn’t due to the difficulty of fundraising but rather a realization that it didn’t align with his life goals. Becoming a father shifted his priorities, and the demands of running a fund conflicted with his desire to focus on family and personal projects, like writing his book. Ben recognized that pursuing the fund would require sacrifices he was no longer willing to make.
4. How Did Ben’s Network Impact His Fundraising Efforts?
Ben’s status as a world-renowned explorer attracted initial interest from investors but also created skepticism. His story opened doors, yet some LPs questioned his credibility as a venture capitalist, viewing him as a "tourist" in the industry. This paradox highlighted how the VC industry, despite its focus on outliers, often defaults to backing traditional fund managers with proven track records.
5. Could Ben Have Raised His Fund in the U.S.?
Reflecting on his fundraising journey, Ben acknowledged that focusing on U.S.-based LPs might have increased his chances of success. Andreas pointed out that American investors are more comfortable backing solo GPs and unconventional fund managers. Ben agreed, recognizing that his story might have resonated more with U.S. LPs who value ambition and risk-taking more openly than European investors.
6. Why Don’t You Believe “Grit” Is Just About Pushing Forward?
Ben challenges the conventional view that grit means pushing through obstacles at all costs. His early expeditions taught him that true resilience involves self-awareness and the ability to make strategic decisions. Ignoring warning signs during his first expedition led to frostbite—a lesson that persistence must be balanced with adaptability. This understanding of grit later influenced his choice to step away from fundraising when it no longer served his long-term goals.
7. What Does Success Feel Like After Monumental Achievements?
Achieving record-breaking feats in exploration didn’t bring the sense of triumph Ben expected. Crossing the finish line after completing the longest-ever polar journey felt anticlimactic, offering relief rather than elation. Ben’s experience mirrors the journey of venture capitalists who endure long periods without visible success. He realized that fulfillment doesn’t come from reaching a goal but from how one approaches the journey. Success isn’t a single moment—it’s built through consistent effort and daily commitment.
8. How Did Parenthood Shift Ben’s Professional Ambitions?
Becoming a father profoundly changed Ben’s perspective on work and life. He realized that relentless ambition was no longer fulfilling if it came at the expense of family time. Simple moments with his wife and child made him question why he was sacrificing so much for professional goals. This shift led him to prioritize personal fulfillment and family over the pursuit of raising a fund.
9. Are There Alternative Paths to Venture Involvement?
Ben discovered that he could still contribute to the startup ecosystem without managing a fund. He is now exploring Special Purpose Vehicles (SPVs) as a flexible way to invest in startups. Additionally, his focus on leadership coaching and public speaking allows him to support founders without the burdens and constraints of fund management, enabling him to maintain a healthier work-life balance.
10. What Can VCs Learn from Extreme Exploration?
Ben’s experiences in polar exploration offer valuable lessons for venture capitalists and founders. Success in both fields requires focus, adaptability, and resilience. Just as Ben had to adjust strategies to survive in Antarctica, VCs must recognize when to persevere and when to pivot. Managing energy, identifying risks, and focusing on controllable factors are critical to navigating challenges in both exploration and venture investing.
11. Why Can Even the Greatest Achievements Feel Hollow?
Ben’s story highlights the emptiness that can follow significant accomplishments. Achieving monumental goals doesn’t automatically bring fulfillment. This mirrors the venture industry, where raising a fund or closing a big deal can feel anticlimactic. Ben emphasizes that lasting satisfaction comes from aligning daily work with personal values, not from achieving external milestones.
12. How Does Self-Reflection Influence Success?
Self-reflection played a crucial role in Ben’s decision to stop fundraising. After two years of effort, he stepped back and evaluated whether raising a fund truly aligned with his life goals. This reflection led him to prioritize personal fulfillment and family over professional success. Ben’s experience underscores the importance of regularly assessing whether current goals align with long-term values.
13. How To Think About Work and Life Balance?
Both Ben and Andreas agree that relentless pursuit of success can lead to burnout and regret. Their shared experiences highlight the need for founders and VCs to balance professional ambition with personal well-being. Building a successful career should not come at the cost of family and personal happiness. Prioritizing balance and aligning work with personal values leads to more sustainable and meaningful success.
Some things are made for platforms - music, cabs & pizzas. But fund solutions aren’t one of them. Their individual client focus and regulation-first approach is your guarantee for flexible solutions accommodative to a broad range of deal and client specifics. The kicker? Prices that match any of the shelf-products in the market.
🤗 Join the EUVC Community
Looking for niche, high-quality experiences that prioritize depth over breadth? Consider joining our community focused on delivering content tailored to the experienced VC. Here’s what you can look forward to as a member:
Exclusive Access & Discounts: Priority access to masterclasses with leading GPs & LPs, available on a first-come, first-served basis.
On-Demand Content: A platform with sessions you can access anytime, anywhere complete with presentations, templates and other resources.
Interactive AMAs: Engage directly with top GPs and LPs in exclusive small group sessions — entirely free for community members.
✍🏻 EUVC Masterclass | VC Fund Performance Benchmarking
Benchmarking is more than just numbers - it’s a critical tool for GPs and LPs to measure performance, position funds effectively, and align with market expectations.
Join us for this 2-hour masterclass designed to demystify VC benchmarking and provide actionable insights to navigate key metrics like IRR, TVPI, DPI and PME.
Led by Joe Schorge, Managing Partner of Isomer Capital, this session will help you understand how LPs think, how benchmarks are created and - most importantly - how to use them to evaluate performance, communicate results, and position your fund confidently in the market.
✍🏻 EUVC Masterclass | Marketing Foundations for Fund Managers
Join us for an engaging workshop tailored for fund managers looking to institutionalise their marketing approach and craft a category-defining investment brand.
This masterclass is designed to go beyond traditional marketing advice on tactics to help you create lasting brand equity, ensuring your fund stands out in a competitive landscape.
This session will provide actionable insights into fund positioning, LP communications, and crafting compelling narratives - all while maximising time for Q&A to address your specific challenges.
✍🏻 EUVC Masterclass | Setting up and Structuring a VC Fund
Emerging fund managers face countless challenges when setting up and structuring their first VC fund. The process is complex, daunting, and full of pitfalls, from navigating legal frameworks to engaging with the right service providers, the foundations you lay now will shape your growth trajectory.
That’s why we’re planning an exclusive 3-hour masterclass designed to equip emerging managers with the insights, strategies, and tools needed to tackle these challenges head-on.
This masterclass is a side-event taking place during SuperVenture & SuperReturn.
💬 EUVC Community | LP AMA with AQVC’s Marius Weber
Join us for an exclusive AMA session with Marius Weber, Founding Partner at AQVC.
After a history as a co-founder of startups and a manager of several VC funds over the last 15 years, in 2021 Marius Weber partnered with his long time friends Marcus and Oliver and co-founded AQVC, a tech enabled asset manager for Venture Capital which is divided in two departments.
This AMA is part of our ongoing series of small-group sessions designed to foster deep, meaningful discussions within the VC community. Reserve your spot now to ensure you don’t miss this opportunity. THIS EVENT IS FOR EUVC COMMUNITY MEMBERS ONLY.
💬 EUVC Community | LP AMA with Christian Hjort Pedersen
Join us for an exclusive AMA session with Christian Hjort Pedersen, formerly VC Fund Investor at IIP Denmark.
Having allocated more than 600 M USD to top decile early-stage VC funds in US and Europe within tech and life sciences, Christian brings an understanding of the global venture markets and what it takes to build a true franchise better than most others.
This AMA is part of our ongoing series of small-group sessions designed to foster deep, meaningful discussions within the VC community. Reserve your spot now to ensure you don’t miss this opportunity. THIS EVENT IS FOR EUVC COMMUNITY MEMBERS ONLY.
🗓️ 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!
GoWest | 📆 28 - 30 January 2025 | 🇸🇪 Gothenburg, Sweden
Investors Summit Bilbao 2025 | 📆 11 - 12 February 2025 | 🇪🇸 Bilbao, Spain
0100 DACH 2025 | 📆 18 - 20 Feb 2025 | 🇦🇹 Vienna, Austria
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
Share this post