Innovation and Private Capital x aulium

Why does Jean Schmitt feel physically ill every time someone mentions a unicorn? Because, as he puts it, no serious entrepreneur should want their company named after "a fake animal from fairy tales for girls." This isn't just rhetoric—it's a philosophy that shapes how Jolt Capital invests in European deep tech at the growth stage, targeting companies doing €10–20 million in revenue and transforming them into profitable, industrial-grade players.The conversation unpacks Jolt's deceptively simple model: invest at €80 million post-money, grow revenue 5x to €100 million, and exit at €400 million for a 5x return. But execution is anything but simple. Schmitt describes the first 18 months as "intense re-engineering," where Jolt deploys three to four people nearly full-time per company to fix everything from customer support software (one company Jolt invested in claimed to use Jira but actually relied on Excel spreadsheets) to R&D roadmaps and M&A strategy. The firm takes controlling stakes not out of ego, but for speed—because when you're burning capital, you can't afford endless shareholder debates. Schmitt also challenges conventional wisdom on hardware versus software: hardware companies require less capital to reach IPO (€480 million vs. €1.2 billion for digital services) and deliver better exit multiples (16x vs. 11x). Yet Europe continues to bleed €200 billion annually in pension savings to the US, funding competitors while starving its own ecosystem.🦏 Why "rhinos," not unicorns—and why Schmitt refuses to chase billion-dollar valuations 🏭 The square-cube law of scaling: how companies collapse without the right "scaffolding" 🤖 Jolt Ninja, the €10 million AI tool Schmitt gives away for free to build a deep tech community 🇪🇺 Why Europe has 11,000 high-quality deep tech companies (more than the US) but still loses the capital war ⚛️ The quantum computing hype check: why Schmitt questions qubit vendors but believes in quantum sensingWatch the full episode: https://youtu.be/BVsMz71FJR0Subscribe to Aulium for more conversations on innovation and private capital.About Jean Schmitt [General Partner at Jolt Capital]:General Partner at Jolt Capital, a growth-stage deeptech investor that has backed European technology companies including advanced photonics firms Heptagon and NILT, which together exited for €2 billion. He began his career as a founder building AI companies in the 1990s, sold SLP InfoWare to Gemplus where he later ran a division, and served as Managing Partner at Sofinnova before founding Jolt. He also chairs the Baroque Orchestra La Chapelle Harmonique and holds a postgraduate degree in AI.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/

Deep tech ventures require years of patient capital, yet most of them reach Series B without any revenue at all. Matthias Winter explains why traditional metrics like monthly recurring revenue and churn rates simply don't apply when you're building quantum computers or photonic processors — and why that's exactly the point.This conversation unpacks how Constructor Capital conducts due diligence when the technology is still in university labs and the market won't exist for another five years. Winter walks through the real bottlenecks: 90% of potential investments fail because the underlying research isn't distinctive enough, not because founders lack commercial drive. He describes why spending months validating scientific publications and consulting Nobel laureates matters more than projecting unit economics, and why companies like QuEra can raise $200 million before proving product-market fit in any conventional sense.💡 Why revenue is often a distraction for deep tech founders in the early years — building the technology matters more than pilot contracts🔬 How Constructor Capital validates breakthroughs: scientific reputation, publication history, and lab visits trump financial models🌍 Why Europe's deep tech ecosystem has strong university spin-outs but still pushes founders to relocate to the US at scale⚛️ What Google and NVIDIA's investments in quantum computing signal about which modalities might actually win🎯 The surprising failure mode: brilliant scientists who can't handle operational complexity when the team grows past 30 peopleWatch the full episode: https://youtu.be/PqFp4zdEC5oSubscribe to Aulium for more conversations on innovation and private capital.About Matthias Winter [General Partner of Constructor Capital]:General Partner at Constructor Capital, a science-first venture fund that closed its first fund at $110 million and invests across deep tech, AI-native software, and EdTech. He spent 26 years at McKinsey, where he advised over 100 organizations at board level across more than 20 countries and co-led McKinsey's Technology Council until 2023, focusing on the biggest telecom and tech companies in Europe before transitioning into venture capital.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/

If Europe wants resilience and sovereignty, it must stop treating green tech as a moral project and start treating it as the path to re-industrialization. Laurits Bach Soerensen argues that 92% of Europe's risk capital flows into software, fintech, and biotech—sectors designed to hit a profitability plateau—while the hard technologies needed to rebuild energy infrastructure, production systems, and supply chain independence remain starved of capital. The gap isn't ideological; it's structural. Traditional private equity can't handle the capex intensity and networking capital demands of industrial scaling, and venture capital lacks the operational discipline to navigate hyper-transformation.The conversation unpacks why conventional investment models fail in green industrial contexts and what it takes to succeed: deep operational engagement, capital efficiency at early stages, and a systematic approach to managing the four forces of hyper-transformation—capex intensity, hypergrowth, value chain establishment, and regulatory dependencies. Soerensen explains why companies like Northvolt face exponential complexity when all four factors collide, and why pension funds crossing the chasm to play venture are making a category error. He also introduces the BCSA framework—better, cheaper, simpler, accessible—as the litmus test for whether a hard-tech company can survive the valley of death and achieve the conversion rates needed to scale capital-efficiently.**Key points discussed:**🔋 Why green tech must be framed as resilience strategy, not environmental stewardship, to unlock the capital Europe needs ⚙️ The hybrid transformation model required to scale capex-heavy industrial assets without running out of cash 🎯 How the BCSA framework determines whether a technology can convert 60–80% of prospects instead of 5% 🏭 Why Germany holds the deep industrial innovation Europe needs but receives only 10–15% of private equity flow 📉 What went wrong with Northvolt and why the J-curve was underestimated by orders of magnitudeSubscribe to Aulium for more conversations on innovation and private capital.About Laurits Bach Soerensen [General Partner of Nordic Alpha Partners]:General Partner at Nordic Alpha Partners, a European growth-stage fund focused on industrial greentech. Before moving to the investment side, he spent 20 years as an operator, including growing a business from zero to $250 million in revenue across 27 countries at HP and taking Aastra Telecom Denmark from fourth to first in its market, overtaking Avaya, Cisco and Siemens. He led the raise of Nordic Alpha's €266 million Fund II in 2024 and has overseen 24 investments and 7 exits, including the sale of Spirii at 67 times annual recurring revenue.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/

Roland Dennert argues that European tech could grow one hundred-fold over the next twenty years—but only if the continent's pension funds and insurers shift from allocating roughly one percent of their assets to technology up to ten percent, matching their US counterparts. The capital exists; the problem is where it's directed.Dennert explains how Cipio Partners operates in the growth equity segment between venture capital and traditional private equity, targeting companies with proven products, validated go-to-market strategies, and fifty to one hundred percent annual growth. At this stage, the firm no longer faces product or market risk—the focus shifts to execution risk and valuation. He discusses why cultural due diligence on founder teams matters more than technical audits, noting that when investments fail catastrophically, it's almost always a people issue, not a product problem. The conversation also covers Cipio's expansion into Central and Eastern Europe, where ambitious, well-trained founders face less competition for capital, and why the emergence of private equity buyers over the past decade has been a game-changer for European tech exits, creating competitive processes where previously only one or two strategic buyers might have been interested.**Key discussion points:**💰 Why European pension funds allocating ten percent to tech instead of one percent could unlock ten times more capital 🎯 The difference between venture risk (product/market uncertainty) and growth risk (execution/valuation) 🤝 Why people issues—not product failures—cause most catastrophic investment losses at growth stage 🇪🇺 How the absence of a deep, liquid European public market for large tech companies limits exit options 🚀 What makes Central and Eastern Europe an underestimated source of ambitious, well-trained technical talentSubscribe to Aulium for more conversations on innovation and private capital.About Roland Dennert [General Partner of Cipio Parters]:General Partner at Cipio Partners, a European growth equity firm investing at the intersection of venture capital and traditional private equity. He has led the firm for over twenty-one years, completing more than fifty trade sales and four IPOs across a portfolio spanning fifteen countries. Prior to Cipio, he worked at 3i, earned an MBA from MIT Sloan, and held roles in strategy consulting at Roland Berger and BCG following his start as a robotics engineer at Hitachi in Japan.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/

Most startups fail not from lack of talent, but from lack of experience. When a 28-year-old founder has only recruited three people in their life, they're walking into lethal mistakes that seem obvious to someone with 20 years of experience.Elie du Pré de Saint Maur is co-founder of TOMCAT, a French venture fund and accelerator that works with early-stage B2B startups. Before co-founding TOMCAT in 2020, Elie spent 20 years in marketing and strategy leadership roles at Edenred, Cromology, and Doctolib, where he served as CMO during the COVID telemedicine explosion in 2020. At TOMCAT, he screens 2,500 startups a year and leads a six-month intensive programme that de-risks investment by working hands-on with founding teams before deploying capital.In this clip, Elie shares the single most powerful lesson he learned from Doctolib CEO Stan during the company's hypergrowth phase: the ability to prioritize brutally. He explains why saying no to 90 percent of topics is the skill that separates high-growth companies from those that stall, and why the most precious resource in a startup is not cash—it's the founder's time.🎯 Stan's ability to say stop everything and do this one thing⏱️ Why founder time is more scarce than capital❌ The nine topics you need to say no to in order to make one thing happen🏢 What traditional companies get wrong about prioritization🔥 How Doctolib moved mountains in days during the March 2020 lockdownSubscribe to Aulium for more conversations on innovation and private capital.About Elie du Pré de Saint Maur [Co-founder TOMCAT]:Elie du Pré de Saint Maur is co-founder of TOMCAT, a French venture fund and accelerator for early-stage B2B startups. Before launching TOMCAT in 2020, he spent 20 years in marketing and strategy roles at Edenred, Cromology, and Doctolib, where he was CMO during the COVID telemedicine explosion in 2020.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/

No one wants to pay indirect tax. It is added to the sale price, collected from customers, and then businesses must file returns monthly just to hand it over to tax authorities. For companies selling internationally, the complexity multiplies across jurisdictions, each with different rates, thresholds, and filing deadlines.Gareth Kobrin is Co-Founder and CEO of Yonda Tax, a compliance platform for businesses trading across borders. He spent 15 years in tax before starting Yonda, working at Merrill Lynch and VAT Global. He bootstrapped the company for three years before raising a €15m Series A from Kennet Partners in late 2024. In this clip, Gareth explains what Yonda does, why he chose tax as a career, and the decision to leave a senior role to build something from scratch. The conversation covers product strategy, growth mechanics, bootstrapping versus institutional capital, and how AI is reshaping the tax compliance stack.📊 What Yonda actually solves for eCommerce and SaaS companies🧠 Why tax-first beats tech-first when building compliance tools💰 How they grew from zero to 400 clients without outbound sales🤖 Where AI agents already automate filing and where humans still matter🚀 The case for delaying venture capital as long as possibleSubscribe to Aulium for more conversations on innovation and private capital.About Gareth Kobrin [co-founder of Yondatax]:Gareth Kobrin is Co-Founder and CEO of Yonda Tax, a tax compliance platform for eCommerce and fintech companies. He spent his career at Merrill Lynch, VAT IT, and Vatglobal before leaving a senior director role to start Yonda, which he bootstrapped for over three years before raising institutional capital from Kennet Partners.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier.Connect with us:➡ Aulium on LinkedIn:   / aulium  ➡ Thomas Viguier:   / tviguier  

AI valuations have reached levels that Thomas Bigagli from Plug and Play calls totally insane. But not for the reasons you might think. According to Bigagli, the race is justified — because we are literally building the companies that will shape the next decades.Thomas Bigagli is a Partner at Plug and Play, one of the world's most active venture capital platforms, managing EMEA operations. He joined Plug and Play nearly a decade ago after launching his first ventures before age 18, and has since helped the firm invest in over 35 unicorns at pre-seed or seed stage. Plug and Play invests in more than 200 startups annually through a family office and 11 external funds, while running open innovation programs with over 550 Fortune 500 corporations.🧠 Why current AI valuations reflect a talent war, not a bubble⚡ How the AI mega-round playbook differs from traditional early-stage VC🚀 Why Bigagli believes deep tech is now entering its best moment in decades🔍 What investors betting on companies like OpenAI at $100B+ are actually thinkingSubscribe to Aulium for more conversations on innovation and private capital.About Thomas Bigagli [Partner at Plug and Play Ventures]:Thomas Bigagli is a Partner at Plug and Play, where he leads EMEA operations for one of the world's most active venture capital platforms. He joined the firm nearly a decade ago after starting his first entrepreneurial ventures before turning 18, and has since helped Plug and Play invest in over 35 unicorns at pre-seed or seed stage while supporting open innovation programs with more than 550 Fortune 500 corporations.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/

Most startups vanish when they fail. But crypto tokens? They live forever at a fraction of a cent, visible to anyone, impossible to put into insolvency. Christopher May, Co-Founder and CEO of Finoa, explains why this fundamental difference makes crypto failure more visible than traditional startup death — and what that means for how investors should think about the space.Christopher brings a rare perspective to institutional crypto. After four years at McKinsey advising banks and insurance companies, he left to solve a personal problem: managing 80+ tokens across 30 different wallets during the 2017 ICO boom. That chaos — including losing €8,000 to a forgotten private key — led him to co-found Finoa in 2019. Today, the company is building onchain banking infrastructure for institutions, pivoting from pure custody toward stablecoin payments and treasury services as blockchain evolves from an asset class into financial rails.In this clip, he addresses a fundamental question about crypto valuation. Like startups, 95% of crypto projects fail within five to seven years. But unlike startups, failed tokens never disappear — they persist onchain, trading at fractions of a cent, as long as a single node runs. It's a visibility problem unique to tokenized ventures, and it shapes how the market perceives risk and survival in ways traditional finance never had to confront.Subscribe to Aulium for more conversations on innovation and private capital.About Christopher May [CEO of Finoa]:Christopher May is Co-Founder and CEO of Finoa, a digital asset custody and financial services platform for institutions. He previously spent four years at McKinsey after completing a banking apprenticeship in Frankfurt, and co-founded Finoa in 2018 alongside Henrik Gebbing after experiencing the challenges of managing crypto assets firsthand.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/

Most entrepreneurs obsess over building the perfect product — and ignore the numbers that actually keep their business alive. Sevan Marian, Co-Founder and CEO of Fleet, explains why focusing on margin and cash flow from day one is the difference between scaling to €100M and shutting down after three months.Sevan built Fleet from €5,000 to a €100M valuation without raising VC, using an asset-light financial model inspired by Amazon's playbook: cash flow positive, zero inventory, and contracts sold to banks upfront. He shares how most first-time founders make the fatal mistake of chasing product-market fit while their financials quietly bleed out — and why understanding the difference between profitability and cash flow matters more than most realize.💡 The fatal mistake first-time founders make with cash flow📊 How Fleet scaled with €5K — no VC, no inventory, no debt on the balance sheet🔄 Why being cash flow positive beats being EBITDA profitable⚙️ The Amazon-inspired model: collect early, pay late, stay asset-light🚀 What changed after the €100M LBO with ISAI — and what didn'tSubscribe to Aulium for more conversations on innovation and private capital.About Sevan Marian [Co-founder of Fleet]:Sevan Marian is Co-Founder and CEO of Fleet, a €100M-valued IT management platform serving companies across Europe and the US. He previously worked at Rocket Internet's Jumia, where he launched and scaled e-commerce operations across North Africa. Sevan bootstrapped Fleet to €35M ARR with fewer than 40 employees before completing a growth LBO with ISAI in 2024.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier and Markus Perkumas.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/

Being smart and hardworking isn't enough to build a successful startup. Timing, co-founders, networking, and sheer luck all play a role—and most entrepreneurs don't realize that until they've lost everything.Bogdan Ochiana is the Founder and CEO of Orbotix, a Poland-based defense technology company building autonomous drone swarms designed to operate in GPS-denied, radio-jammed environments. A serial entrepreneur from Romania, Bogdan studied at ETH Zurich, worked across five European countries as a management consultant, built and exited a €20M IT services company, and personally invested €3M to launch Orbotix in response to the war in Ukraine. The company raised €6.5M led by US national security VC BVVC, operates R&D in Romania and Spain, and is now fielding battle-tested systems for NATO allies and critical infrastructure clients across Europe.💡 He explains why his first Paris-based startup failed despite having experience, funding, and multilingual skills📉 Why timing, co-founders, and the right idea matter more than effort alone🎯 How losing everything at 32 became the MBA that shaped his next moves🔄 Why networking, luck, and market conditions can't be replaced by grit🚀 What he learned from failure that success could never teachSubscribe to Aulium for more conversations on innovation and private capital.About Bogdan Ochiana [Founder and CEO of Orbotix]:Bogdan Ochiana is the Founder and CEO of Orbotix, a defense technology company building autonomous drone swarm systems for European militaries. Born and raised in Romania near the Ukrainian border, Bogdan studied at ETH Zurich, worked as a management consultant across Europe, and built a successful €20M IT services company before founding Orbotix in response to the war in Ukraine. Today, Orbotix operates across Poland, Romania, Spain, Ukraine, and Estonia with 43 employees and two production facilities.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier and Markus Perkumas.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/

Contact centers are broken — not because humans don't want to help, but because they lack the capacity. PolyAI CTO Shawn Wen explains why AI automation isn't about replacement, but about augmentation: picking up calls instantly, handling routine tasks, and escalating only the critical moments to human agents.Shawn Wen is the Co-Founder and CTO of PolyAI, a voice AI platform valued at over $750M and backed by Nvidia, Khosla Ventures, and Point72. He holds a PhD from Cambridge, where he studied conversational AI under renowned speech recognition expert Steve Young. PolyAI now handles nearly one million conversations per day for enterprise clients including Marriott, FedEx, and major healthcare providers.In this clip, Shawn breaks down the systemic issues plaguing customer service — from rising labor costs to negative customer lifetime value — and why AI is the only scalable solution. He argues that we're at the very beginning of a journey where automation restores the capacity contact centers should have had all along, not eliminating human service, but redefining it as a premium offering for complex, high-stakes interactions.🔹 Why contact centers are financially unsustainable without automation🔹 How AI restores capacity rather than replacing empathy🔹 The future of human service as a premium, not a defaultSubscribe to Aulium for more conversations on innovation and private capital.About Shawn Wen [Co-Founder and CTO of PolyAI]:Shawn Wen is the co-founder and CTO of PolyAI, an enterprise voice AI company valued at over $750 million with backing from Nvidia, Khosla Ventures, and other leading investors. He earned his PhD from the Cambridge Dialogue Systems Group, where he specialized in conversational AI and speech recognition. Under his technical leadership, PolyAI now handles nearly one million customer conversations daily for over 100 enterprise clients including Marriott, FedEx, and major healthcare and financial institutions.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier and Markus Perkumas.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/

Buyers are now willing to hand over their most private CRM data to start a free trial—without ever talking to sales. That shift reveals just how much control modern B2B buyers expect over their own journey, and companies that resist this trend risk losing deals.Nick Turner is the CEO of Dreamdata, a B2B marketing attribution platform that raised a $55M Series B in 2024. Based in the U.S., Turner leads a Danish-founded company with 65 employees across 28 nationalities. Before joining Dreamdata, he spent 15 years in go-to-market roles and previously led U.S. expansion for European SaaS companies including Botify. In this clip, he explains why trust frameworks, open APIs, and interactive demos have made self-service adoption faster than ever—even for complex, data-sensitive products.🔍 Why 10,000+ employee companies now start free trials on their own🔐 How GDPR, SOC 2, and data ownership frameworks enable buyer confidence🚀 The role of open APIs in accelerating product-led growth⚡ Why fighting buyer preferences is a losing strategy🛠️ What this shift means for sales-led vs. self-service motionsSubscribe to Aulium for more conversations on innovation and private capital.About Nick Turner [CEO of Dreamdata]:Nick Turner is the CEO of Dreamdata, a B2B marketing attribution and activation platform serving mid-market and enterprise software companies. He transitioned from Chief Revenue Officer to CEO in early 2024 and led the company's $55 million Series B fundraise. Prior to Dreamdata, Turner spent 15 years in go-to-market roles and twice led U.S. expansion efforts for European SaaS companies, including Botify.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier and Markus Perkumas.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/

AI doesn't fix broken engineering practices—it accelerates the damage. When you strap AI onto a disorganized product organization, everything gets much worse, much faster.Daniel Jung is the CEO of TechMiners, a tech due diligence firm that has analyzed hundreds of software companies across Europe. With a background that spans Lehman Brothers during the 2008 crisis, mountain infantry service, and multiple tech startups, he now leads one of the most data-driven technical assessment firms in the market. TechMiners combines proprietary tooling with experienced CTOs to deliver deep, objective tech due diligence in just 10 business days—analyzing everything from source code to licensing to AI implementation.In this clip, Daniel reveals a counterintuitive truth about AI adoption: mature businesses with disciplined processes before AI are far more likely to succeed than AI-native startups. The firms that lack foundational software development practices accumulate higher tech debt, face security vulnerabilities faster, and struggle with maintainability when AI enters the mix.🔍 Why AI native companies often have more tech debt than legacy businesses⚠️ How poor development practices get amplified, not solved, by AI🛠️ What separates companies that scale AI successfully from those that collapse under it📊 The hidden cost of introducing AI without disciplined engineering foundationsSubscribe to Aulium for more conversations on innovation and private capital.About Daniel Jung [CEO of Techminers]:Daniel Jung is the CEO of TechMiners, a specialized technical due diligence firm serving investors across Europe. Before leading TechMiners, he worked at Lehman Brothers during the 2008 financial crisis, served as an officer in the Mountain Infantry, and founded ventures in medtech, logistics tech, and proptech. He brings a business-focused perspective to tech assessment, having held C-level roles in multiple startups.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier and Markus Perkumas.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/

What separates a promising pitch from a founder worth backing? Bruno Febvret, who runs Aonia Ventures and the Rise family office for Mantu's founder, doesn't look at decks—he looks at the person behind the idea. In this clip, he explains the one question that tells him everything he needs to know about an entrepreneur's conviction.Bruno oversees venture and private equity investments at Rise, the family office of Olivier Brourhant, founder of Mantu, a €1 billion consulting group. He's backed over 70 startups across Europe and the U.S., including names like SpaceX and Alan, with ticket sizes between €100k–€250k at seed and Series A. His approach is unconventional: he invests like a super business angel, not a fund, spending just 1–2 hours with founders before committing.In this conversation, Bruno reveals why he prefers to ask "Who are you?" instead of "What's your pitch?", how he assesses founder dynamics without a rehearsed presentation, and why the best investment decisions come from understanding the "madness" that drives someone to leave stability and build a company.🔹 Why Bruno invests in people, not pitches🔹 The one question that reveals a founder's true conviction🔹 How to spot co-founder tension before it destroys a startup🔹 What most VCs miss by focusing on decks instead of backgrounds🔹 The philosophy behind treating venture like recruiting, not gamblingSubscribe to Aulium for more conversations on innovation and private capital.

Is the obsession with entrepreneurship putting unhealthy pressure on young people? Stephan Moraes, General Partner at Indico Capital Partners, challenges the narrative that everyone needs to be a CEO at 25—and explains why learning with other people's money is often the smarter path.Stephan is co-founder of Indico Capital Partners, a Southern Europe–focused VC firm managing €240M+ across six funds. He has backed eight unicorns, including Farfetch, Talkdesk, and Anchorage Digital, and co-invests with top-tier global funds. A Harvard MBA and former dot-com founder, he brings decades of operational and investment experience across B2B SaaS, marketplaces, and deep tech.In this clip, Stephan discusses:🎯 Why the pressure to become an entrepreneur at 21 is misplaced—and sometimes harmful💼 The value of learning on someone else's dime before solving real problems🧠 How resilience and curiosity matter more than school grades in the age of AI🚀 Why today is both the best and easiest time to be a founder—with caveatsSubscribe to Aulium for more conversations on innovation and private capital.About Stephan de Moraes [General Partner at Indico Capital Partners]:Stephan de Moraes is General Partner and co-founder of Indico Capital Partners, a Lisbon-based venture capital firm focused on Southern Europe. Since founding Indico in 2017 with Cristina Fonseca (founder of Talkdesk) and Ricardo Marvão, he has backed eight unicorns and managed €240M+ across six funds. A Harvard MBA and former dot-com entrepreneur, Stephan previously served on the board of Caixa Capital, where he invested in many of Portugal's most successful tech companies between 2013 and 2017.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier and Markus Perkumas.Connect with us:➡ Aulium on LinkedIn:   / aulium  ➡ Thomas Viguier:   / tviguier  ➡ Markus Perkumas:   / markusperkumas  

What drives someone to disrupt music, television, and legal services across a 30-year career? Anthony Rose didn't plan to disrupt legal services—he just got tired of paying lawyers while building startups.In this wide-ranging conversation, Rose—founder and CEO of SeedLegals and the architect behind BBC's iPlayer—shares how he's built a platform now used by over 50,000 UK startups. From being CTO of Kazaa and facing a $1 billion lawsuit from the music industry, to launching iPlayer inside the BBC bureaucracy, Rose has repeatedly turned ideas into products people love. His through-line isn't industry-specific: it's execution, customer obsession, and a willingness to challenge entrenched players who refuse to innovate.This clip covers Rose's unconventional background and the philosophy that's shaped his approach to building companies:🎯 Why disruption isn't the goal—customer delight is🔧 How he created a "startup within the BBC" to ship iPlayer⚖️ What he learned from the music industry's $1B lawsuit against Kazaa🏗️ The moment he realized legal services needed a platform, not just lawyers🚀 His "chocolate box test" for user research on a zero budgetSubscribe to Aulium for more conversations on innovation and private capital.About Anthony Rose - CEO [SeedLegals]:Anthony Rose is the founder and CEO of SeedLegals, a legal tech platform serving over 50,000 UK startups with fundraising, incorporation, and legal infrastructure. Prior to SeedLegals, Rose served as CTO at Kazaa (where he was sued for $1 billion by the music industry), launched BBC iPlayer as head of digital media technology at the BBC, and founded multiple startups including Beamly and SixTribes. He splits his time between London and New York as SeedLegals expands into the US market.About Aulium:Aulium is a video show exploring Innovation and Private Capital, hosted by Thomas Viguier and Markus Perkumas.Connect with us:➡ Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/

The core challenge of scaling a business isn't just about hiring more people—it's about ensuring your organization doesn't grind to a halt under its own weight.Conrad Ford, Chief Product and Strategy Officer at Allica Bank, shares his "superpower" for identifying organizational waste and explains why most big corporate towers are filled with "non-jobs." Drawing on his experience as the founder of Funding Options and now a leader at the UK’s fastest-growing FinTech, Conrad breaks down the mechanics of moving from a "dictator" founder to an empowered, culture-driven organization. He argues that while organizational design can reduce bottlenecks, culture is ultimately the only thing that matters when the founder is no longer in the room.Key Discussion Points:🚀 The transition from sole founder "dictator" mode to a scalable executive structure.🏢 Identifying "moreon tax" and organizational waste in traditional banking towers.🍕 Implementing Amazon-style "Bar Raisers" to protect company standards during hyper-growth.🎯 Why "empowerment" is often just a corporate buzzword and how to actually delegate authority.💡 Go Deeper: If you enjoyed Conrad Ford’s insights on organizational design and culture, check out our session with Adriana Restrepo on the playbook for scaling financial infrastructure here: https://youtu.be/vZZKaMGvLrwAbout the Guest:Conrad Ford is the Chief Product and Strategy Officer at Allica Bank and the former founder of Funding Options, recognized for his expertise in SME acquisition and scaling high-growth FinTechs.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:➡ Follow Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markukperkumas/#privatecapital #innovation #FinTech #aulium #ScalingUp

How do you trust a system when you don't know how it will fail? In this extract, Chris Jefferson, Co-Founder of Advai, explains the critical necessity of identifying AI failure modes to enable true enterprise adoption. Advai specializes in "red teaming" and adversarial AI to stress test systems across language, computer vision, and audio domains before they can go rogue in production.As an industry expert with a background in financial services and a co-founding team spanning government and academic research, Chris provides a unique perspective on the "scaffolding" required for trusted AI. He argues that the true barrier to AI adoption isn't just a lack of capability, but a lack of quantified reliability.Key Discussion Points:🔍 Identifying Failure Modes: Why Advai focuses on how and why AI systems break to build long-term trust and reliability.🛡️ AI Red Teaming: The process of deliberately probing LLMs and computer vision models for vulnerabilities like prompt injection and persona switching.📈 Beyond the Hype: Transitioning from "vibe coding" to industrialized, high-accuracy systems that enterprises can actually depend on.💡 Go Deeper: If you enjoyed Chris Jefferson’s insights on AI failure modes, check out our session with Dominik Pezzei on leveraging AI for complex engineering in the construction industry here: https://youtu.be/hA6BfNxyEZ4About the Guest:Chris Jefferson is the Co-Founder of Advai, a London-based startup that enables the adoption of trusted AI by identifying and mitigating system limitations through adversarial stress testing.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:➡ Follow Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #AI #aulium #Advai

The convergence of traditional finance and the blockchain is no longer a fringe concept; it is the next frontier of global banking. Adriana, the co-founder of Deblock and former COO of Revolut, explains how her team is building a natively Web3 institution that prioritizes true self-custody. By securing the first MICA license in France, Deblock is proving that a rigorous regulatory framework is the ultimate enabler for disruptive financial products.🔗 Bridging the gap between traditional neo-banking and decentralized finance (DeFi).🛡️ The fundamental security difference between custodial exchanges and self-custody wallets.📈 Delivering high-yield financial products through smart contracts and stablecoins.🇫🇷 Why France is becoming a leading hub for European fintech and crypto innovation.⚙️ Applying the "Revolut Playbook" to scale operations and hire elite remote talent.📺 Watch the full interview here: https://youtu.be/hJXT3bTyMgU💡 Go Deeper: If you enjoyed Adriana’s insights on financial infrastructure, check out our session with Edouard Mandon on the evolution of payment networks here: https://youtu.be/VNIL1hni498?si=8zc5HDBGrotDW7wAbout the Guest:Adriana is the co-founder of Deblock and the former COO of Revolut, where she managed hypergrowth for over 15 million customers and led the rollout of branches across 10+ European geographies.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:➡ Follow Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #fintech #aulium #blockchain

Can venture capital sourcing be automated before a company even has a website? Discover how the mechanics of deal flow are shifting from manual networking to real-time data feeds.In this episode, Jacob Houlberg, co-founder of Evertrace, joins Thomas Viguier and Markus Perkumas to discuss the "descriptive problem" of startup sourcing. Jacob explains how Evertrace helps early-stage investors identify founders the moment they incorporate, leveling the playing field for VCs and entrepreneurs alike. They dive into the strategy behind Evertrace's rapid M&A growth and why they chose to stay bootstrapped in an industry fueled by venture money.⚖️ Moving from Alpha to Beta: Why deal discovery is becoming a commodity.🚀 Stealth Mode Sourcing: How to find founders the day they incorporate.🏁 The M&A Playbook: Executing three acquisitions in 18 months as a lean team.🎯 Niche Monopolies: Why competing in crowded markets is a founder's biggest mistake.About the Guest:Jacob Houlberg is the co-founder of Evertrace, a Danish software company that provides AI-powered deal sourcing for early-stage VC funds, leveraging his background in investment banking and consulting at Bain.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:➡ Follow Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #VentureCapital #aulium #SourcingAutomation

The death of third-party cookies shouldn't mean the death of your growth. Discover how to reclaim lost attribution and feed the AI algorithms the high-intent signals they need to lower your CAC.In this episode, Thomas Viguier and Markus Perkumas sit down with Edward Upton, CEO and Co-founder of LittleData. They dive deep into the technical mechanics of the Shopify ecosystem, the reality of "Agentic Commerce," and the hard-won lessons of scaling a B2B SaaS company through the post-COVID trough. Edward shares how brands can bridge the data gap between Shopify and ad platforms like Meta and Google to drive true marketing efficiency.🚀 How to fix the 20-30% discrepancy between Shopify sales and Google Analytics reporting.📊 The transition from reporting-focused data to "activation" data that powers AI bidding models.🤖 The rise of Agentic Commerce: How shoppers will use Gemini and ChatGPT to purchase directly.📉 Honest reflections on the "founder's trough" and the pivot from VC-backed hype to profitable growth.About the Guest:Edward Upton is a second-time founder and the CEO of LittleData, a leading marketing attribution platform that helps nearly 1,000 global Shopify brands automate first-party data integration.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:➡ Follow Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #ecommerce #aulium #littledata

Can European deep tech actually compete with Silicon Valley, or is the lack of a unified market a fatal flaw? Watch as we break down the "Day One US" strategy that is defining the next generation of venture capital.In this episode, Augustin Sayer, General Partner at OVNI Capital, joins hosts Thomas Viguier and Markus Perkumas to discuss the mechanics of building a venture firm from scratch and the necessity of bridging the Atlantic. He explains why OVNI focuses exclusively on technical R&D and applied science, helping European "nuggets" scale in the United States. We explore the realities of fundraising a first-time fund, the future of computing via photonics, and the radical shifts coming to the labor market and human longevity.🚀 The "Day One US" thesis: Why European founders must ignore local borders to build generational companies.⚖️ Fundraising Truths: The grind of meeting 1,000 LPs to raise a €60M first-time fund without an anchor investor.🏗️ The Future of Deep Tech: How photonics and light-based computing will replace the silicon and copper era.🏁 The Exit Reality: Why 90% of acquisitions over $300M happen in the US and how to position for them early.🌍 Post-Work Society: A contrarian view on why we might all be "jobless" in 10 years and what that means for equity.About the Guest:Augustin Sayer is a General Partner at OVNI Capital, a venture capital firm specializing in European deep tech startups with a mandate to scale internationally to the US from day one.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:➡ Follow Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #DeepTech #aulium #VentureCapital #USExpansion #Photonics

How do you transition from a decade of bootstrapping to a high-profile exit with one of the world's largest private equity firms? Gregory Blondeau reveals the mechanics of scaling Proxyclick to $10M ARR and why his new venture is set to disrupt private market reporting.In this episode, Thomas Viguier and Markus Perkumas sit down with Belgian entrepreneur Gregory Blondeau, founder of Proxyclick and Clariteer. Gregory shares his journey of navigating a massive product pivot, competing against Silicon Valley giants like Andreessen Horowitz-backed rivals, and the tactical "war-time" leadership required during the global pandemic. We dive deep into the shift from B2B food delivery to global visitor management and how AI is now reinventing the LP experience in Private Equity.🚀 The "Don't Die" vs "How to Win" mindset shift for founders.⚖️ How to reject an acquisition offer to trigger a 15% price increase.🏁 The 3 luck factors that aligned for a perfectly timed exit to Thoma Bravo.🤖 Why AI-powered startups will systematically underprice legacy SaaS incumbents.About the Guest:Gregory Blondeau is a seasoned Belgian entrepreneur who bootstrapped Proxyclick to $10M ARR and a successful exit to Thoma Bravo, and is now leveraging AI to revolutionize private equity portfolio monitoring as the founder of Clariteer.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:➡ Follow Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #SaaS #aulium #ThomaBravo

Can AI fix the world’s most inefficient industry? Discover how automated engineering is slashing costs and carbon footprints for the next generation of skyscrapers.The construction sector has long operated on "expert guesses" and manual silos, leading to massive hidden costs and sustainability gaps. In this episode, Thomas Viguier and Markus Perkumas sit down with Dominik Pezzei, co-founder of Optimuse, to explore how their Vienna-based startup is revolutionizing the built environment. We dive into the shift from "prototype" building to machine-like precision through AI-driven digital twins.⚖️ How AI eliminates "hidden costs" by replacing manual estimations with trusted engineering science.🚀 The transition of buildings from simple structures to complex machines requiring automated orchestration.🏁 Why the real estate market is pivotally shifting from "sustainability hype" to hardcore financial ROI.🏗️ The technical challenge of structuring "messy" building data into actionable digital twins.About the Guest:Dominik Pezzei is the co-founder and CEO of Optimuse, a computer scientist and former BCG consultant leveraging AI to automate complex building engineering processes.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:➡ Follow Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #PropTech #aulium #ConstructionAI

Could a machine be more reliable than a human expert when millions are on the line? Discover how AI is fundamentally restructuring the economics of M&A and why the traditional law firm hierarchy is about to collapse.In this episode, Thomas Viguier sits down with Rick Van Esch, co-founder and CEO of Emma Legal, to explore the intersection of artificial intelligence and high-stakes legal due diligence. Rick shares his journey from capital markets to scaling AI startups, revealing how Emma Legal has already processed over $1 billion in enterprise value. We dive deep into the tension between billable hours and AI efficiency, the "Winner Takes All" market dynamics of legal tech, and why the US market is adopting these tools faster than Europe.⚖️ How Emma Legal automates complex due diligence across $1B+ in deal flow.🚀 The "Darwinistic" shift: Why law firms must adapt to AI or lose their clients.🏁 Horizontal vs. Vertical AI: Why "one model to rule them all" fails in law.🤖 The future of talent: How AI allows juniors to reach partner-level insights in 5 years.🌍 Scaling to the US: Why the American legal market is the ultimate frontier for innovation.About the Guest:Rick Van Esch is the co-founder and CEO of Emma Legal, a Belgian-based startup leveraging AI to perform automated legal due diligence for law firms and private equity players.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:➡ Follow Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #legaltech #aulium #AImandadue-diligence

Can your hospitality business survive the next five years without owning its customer data? Discover how to stop leaking revenue and build a resilient brand in the most challenging economic climate in decades.In this episode, Thomas Viguier and Markus Perkumas dive deep into the shifting landscape of the European hospitality sector with Fryderyk Szydlowski, co-founder of Embargo. Fryderyk shares his journey from professional basketball to the front lines of Joe & The Juice, explaining how he built a platform that now powers over 3,000 locations across Europe. We explore why the "old way" of running a restaurant is dead and how savvy operators are using data to fight back against rising labor costs, inflation, and high marketplace commissions.🚀 The "leaky cup" analogy: why retention is the only metric that predicts 10-year success.⚖️ How to balance high-commission marketplaces like UberEats with high-profit direct sales channels.🥐 Simple strategies for increasing average transaction value (ATV) by 20% through "habit shifts."🌍 The economic "wonder" of the Polish tech scene vs. the current UK hospitality sentiment.🏁 Practical advice for first-time founders on raising capital without losing your long-term vision.About the Guest:Fryderyk Szydlowski is the co-founder of Embargo, a leading loyalty and CRM platform for the hospitality industry, having previously served as Head of Marketing for major UK hospitality groups and a Training Manager at Joe & The Juice.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:➡ Follow Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #HospitalityTech #aulium #SaaSGrowth

Is the era of pure B2B SaaS dominance coming to an end? Discover why top investors are shifting focus toward hardware as the ultimate defensive moat in the age of AI.The venture capital landscape is undergoing a significant correction as interest rates fluctuate and market saturation hits software sectors. Hayden Smith, Head of Debt at Mountside Ventures, joins hosts Thomas Viguier and Markus Perkumas to break down the exploding demand for non-dilutive capital. They analyze the macroeconomic tailwinds favoring debt financing and explain why "hybrid hardware" is becoming the most defensible asset class for the coming year.📈 The increasing momentum and quality of Venture Debt opportunities.📉 How falling interest rates will create positive tailwinds for borrowing.🤖 Why AI differentiation is forcing VCs to look at Hardware again.🛑 The strategic shift away from B2B SaaS saturation.About the Guest:Hayden Smith is the Head of Debt at Mountside Ventures, leading the charge in connecting high-growth startups with optimal non-dilutive capital and debt financing solutions.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:➡ Follow Aulium on LinkedIn: https://www.linkedin.com/company/aulium➡ Thomas Viguier: https://www.linkedin.com/in/tviguier/➡ Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #VentureDebt #aulium #HardwareInvesting

Global financial services are worth trillions, yet most back-office processes are still trapped in the 1990s. Discover how a new generation of AI-native startups is finally moving beyond SaaS to automate the office of the CFO and redefine global payment rails.In this episode of Aulium, Will Orde, Partner at Passion Capital, joins hosts Thomas Viguier and Markus Perkumas to dissect the evolving landscape of European FinTech. Will shares the investment thesis behind one of London’s most iconic venture firms—early backers of Monzo and GoCardless—and explains why they prioritize founder judgment and high-velocity decision-making. We dive deep into the specific opportunities within "Agentic Payments" and why the next wave of disruption will come from "strongly opinionated" AI products.The 7-Day Decision Cycle: How Passion Capital maintains a competitive edge by moving from first meeting to term sheet in one week.The Rise of Agentic Payments: Why current payment rails are built for humans, and how the future belongs to agent-to-agent transactions.The Founder "Litmus Test": How to evaluate a founding team’s judgment based on their choice of co-founders and early hires.AI in the Office of the CFO: Identifying the "Greenfield" opportunities where manual Excel-based processes are ripe for AI automation.The "Pain Point" Priority: Why a startup must solve a top-3 problem for a CFO to achieve true market pull.About the Guest:Will Orde is a Partner at Passion Capital, a leading European pre-seed VC firm, where he leverages deep sector expertise to back founders disrupting FinTech and enterprise risk through AI.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:Follow Aulium on LinkedIn: https://www.linkedin.com/company/auliumThomas Viguier: https://www.linkedin.com/in/tviguier/Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #FinTech #aulium #WillOrde #VentureCapital #AIKey Discussion Points

How do you move billions between Europe and China safely, instantly, and at a fraction of the cost? We explore the hidden infrastructure powering the world's most complex payment rails.In this episode, Thomas Viguier and Markus Perkumas sit down with Derick Li, CEO UK at Yeepay. With a background spanning Alibaba, Tencent, and Wise, Derick offers an unparalleled look at the mechanics of cross-border trade and the strategic expansion of one of China’s most significant payment providers. We discuss the transition from local processor to global infrastructure player and what it takes to lead a Chinese tech giant in the heart of London.Key Discussion Points:Infrastructure vs. Gateways: Why Yeepay operates as the "rails" behind companies like Stripe and Worldline.Speed vs. Process: The fundamental cultural differences between Chinese execution and European decision-making.The Regulatory Moat: How Yeepay leverages rare Chinese payment licenses to dominate the $50B annual volume market.The Future of AI in FinTech: Utilizing machine learning for real-time compliance and treasury monitoring.About the Guest:Derick Li is the CEO UK at Yeepay and a seasoned FinTech leader who previously held pivotal roles at Alibaba, Tencent (bringing WeChat Pay to global markets), and Wise.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:Follow Aulium on LinkedIn: https://www.linkedin.com/company/auliumThomas Viguier: https://www.linkedin.com/in/tviguier/Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #FinTech #aulium #CrossBorderPayments

Why is a third of the UK population locked out of mainstream finance, and how do you build a profitable fintech without external capital? Learn the mechanics of non-prime lending and the algorithmic secrets behind bootstrapping a high-growth marketplace.In this episode of Aulium, Thomas Viguier and Markus Perkumas sit down with Aymeric Monod-Gayraud, Co-founder of LoanTube, to deconstruct the "Tinder for loans." Aymeric shares his journey from investment banking to building tech ecosystems in Poland and the UK, eventually scaling a bootstrapped fintech that processes 12,000 applications daily. We dive deep into the evolution of consumer credit, the role of FCA regulation in preventing lending "horror stories," and why the UK's non-prime market is set to hit 40% by 2030.The "Tinder for Loans": How LoanTube matches non-prime borrowers with specialist lenders using real-rate technology.Regulation vs. Innovation: Why the death of payday lending created a safer, data-driven credit market.The Power of Open Banking: How your spending habits—including takeaway food and gambling—influence your creditworthiness.Bootstrapping to Scale: The reality of unit economics and why US investors view failure differently than those in Europe.AI Integration: Using ChatGPT to transform static loan applications into interactive, conversational experiences.About the Guest:Aymeric Monod-Gayraud is a former investment banker and serial entrepreneur who co-founded LoanTube, a leading UK personal loan marketplace focused on financial inclusion for non-prime consumers.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:Follow Aulium on LinkedIn: https://www.linkedin.com/company/auliumThomas Viguier: https://www.linkedin.com/in/tviguier/Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #fintech #aulium #personalbanking

Why do billion-dollar consumer brands lose market share to small insurgents despite having access to more data? Discover how fusing human expertise with vertical AI solves the critical "data-to-decision" bottleneck.As consumer behavior becomes exponentially complex, traditional generalist models like ChatGPT struggle with the accuracy required for enterprise financial decisions. Sandeep, Founder of CalvinBall Technologies and former Unilever/Google executive, explains why the future belongs to "Vertical AI" equipped with a dedicated expertise layer. We dive into the reality of AI adoption timelines, the risks of hallucinations in business, and why data security demands more than just a wrapper around an LLM.Generalist vs. Vertical AI: Why generic models fail at specific enterprise tasks.The "Expertise Layer": How to eliminate hallucinations in business data.The Adoption Reality: Why full enterprise AI integration is a 15-20 year journey.Global Strategy: Why a US-based founder is moving HQ to London.Buy vs. Build: The challenges of building internal AI teams in non-tech companies.About the Guest:Sandeep is the Founder of CalvinBall Technologies, an AI super-agent for consumer brands, bringing deep industry experience from his time at Unilever India and Google.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:Follow Aulium on LinkedIn: https://www.linkedin.com/company/auliumThomas Viguier: https://www.linkedin.com/in/tviguier/Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #ArtificialIntelligence #aulium #VerticalAI

Data center capacity is expanding exponentially to support AI, yet the physical power grid is failing to keep pace. Discover how smart capital is solving the energy bottleneck and why "Core Plus" infrastructure offers the most resilient returns in a volatile market.Maciej Tarasiuk, Head of Investment at Aberdeen, breaks down the mechanics of the European mid-market infrastructure landscape. He explains why "Core Plus" assets offer superior risk-adjusted returns compared to traditional large-cap deals and how Aberdeen navigates the collision of energy transition and digital infrastructure demands. Maciej also details how ESG integration is no longer just a compliance box, but a direct driver of short-term EBITDA growth.Key Discussion Points:The Alpha in Mid-Market: Why deals between €50M-€150M face less competition and offer higher value-add potential.Core vs. Core Plus: Defining the risk-return profiles (9-11% vs. 11-15%) in today's interest rate environment.The Data Center Dilemma: How AI power consumption is forcing moratoriums on new builds and the search for sustainable solutions.Turning Waste into Profit: A case study on connecting data centers to district heating to cut costs by 25%.Big Tech as Utilities: Why Google and Meta might eventually divest their physical infrastructure assets.About the Guest:Maciej Tarasiuk is the Head of Investment within the economic infrastructure team at Aberdeen, leading investments across a diverse portfolio of mid-cap infrastructure businesses throughout Europe including energy, transport, and digital connectivity.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:Follow Aulium on LinkedIn: https://www.linkedin.com/company/auliumThomas Viguier: https://www.linkedin.com/in/tviguier/Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #Infrastructure #aulium #EnergyTransition

Are we witnessing a dangerous bubble in AI data center construction, similar to the 19th-century railway mania? Discover how institutional investors are distinguishing between hype and the genuine structural shifts of the "4 Ds."In this episode, Thomas Viguier and Markus Perkumas sit down with Thibault Contat Desfontaines, Managing Director at UBS Infrastructure Private Equity. They dissect the rapidly blurring lines between Private Equity, Real Estate, and Infrastructure. Thibault breaks down the specific economics of data centers—from Hyperscalers to Enterprise Colocation—and explains how constraints on power grids and talent are acting as the real bottlenecks to the AI revolution.Key Discussion Points:The "4 Ds" Framework: How Demographics, Decarbonization, Digitalization, and Deglobalization drive investment strategy.Data Center Economics: The difference between Hyperscalers, AI/HPC, and Enterprise Colocation models.The AI Energy Problem: Why power availability and grid connectivity are the ultimate limits to growth.Infra vs. PE: How value-add strategies are erasing the traditional boundaries of asset classes.Risk Management: Avoiding auction processes and identifying management teams that can deliver complex business plans.About the Guest:Thibault Contat Desfontaines is a Managing Director in the Infrastructure Private Equity team at UBS Asset Management, with a career spanning investment banking at Morgan Stanley, Rothschild, and Nomura.About Aulium:Aulium is a video show dedicated to Innovation and Private Capital. Hosts Thomas Viguier and Markus Perkumas interview industry leaders to uncover the mechanics of European tech ecosystems, M&A strategies, and the future of investing.Connect with us:Follow Aulium on LinkedIn: https://www.linkedin.com/company/auliumThomas Viguier: https://www.linkedin.com/in/tviguier/Markus Perkumas: https://www.linkedin.com/in/markusperkumas/#privatecapital #innovation #InfrastructureInvesting #aulium #DataCenters

Long term investors win when they respect macro risk, culture, and liquidity.In this conversation, Thomas digs into how Jean-Baptiste thinks about capital deployment after two decades in private equity, from BC Partners CIO to his family office, board roles at Pershing Square and Howard Hughes, and now teaching at Sciences Po. 💡He lays out his investor matrix in plain language: start with macro trends, never invest in what you do not truly understand, insist on durable competitive advantage, be obsessed with people and culture, and always buy optionality on both growth and exit. Simple to say, hard to practice.The contrast between two deals says it all. Allflex, a boring sounding business tagging cows, became a global animal intelligence platform and a 1.5 billion capital gain. Pronovias, a bridalwear leader, showed how macro shocks, founder centric culture and liquidity constraints can turn a strong asset into a painful lesson. 📉From there, the lens widens to the industry. Jean-Baptiste expects a tough vintage for private equity, consolidation among the 19,000 firms, and continued dominance for the giants who can scale into retail capital. At the same time, he is blunt on Europe, from shrinking capital markets to being absent in AI, and tells his own students that if they want to build ambitious companies, they should seriously consider going West. 🌍Climate risk, energy constraints and AI mania all show up in his framework, but always through one question: what do the next ten years really look like for this business, its balance sheet, and its stakeholders?"If you're not competing in AI, you're going to disappear economically."#privateequity #investing #ai #europe #founders--‼️ Do not follow aulium if you do not want more news and insights about Innovation and Investment

Hypergrowth is possible when you accept that sometimes the smartest move is to stop going solo.In this aulium episode, Édouard Mandon joins Thomas to unpack how a finance role at Rocket Internet led him into payments, why he built Numeral in the first place, and how that journey ended in an acquisition by Mambu and a new life as VP of Payments.He walks through the unseen plumbing behind every card tap and bank transfer, from SEPA rulebooks and ISO 20022 files to instant payments reshaping how banks operate 24-7. 💸We get into why building your own payment stack inside a fintech is so tempting, why it often becomes a trap, and how Numeral positioned itself as the connective tissue between ambitious fintechs and heavyweight banks like BNP Paribas and Barclays.Édouard also breaks down the reality of fundraising in late 2021, when Balderton preempted their round, and why that same company later chose a dual track: new capital on one side, a strategic acquisition on the other. 🚀What really stands out is his honesty about tradeoffs. A three year old, 30 person, unprofitable infrastructure startup can only grow so fast in a regulated, slow moving market. Plug that same product into a 10 year old, 600 person, profitable platform like Mambu and suddenly price points, deal sizes, and customer profiles all change.We finish on people and culture. How do you grieve your own brand, adapt to having a boss again, and still protect the DNA that made your company work in the first place? And what do you do differently in hiring when you know misalignment always shows up later. 🧠"The only real growth hack for us was to stop being a three year old startup and become part of a ten year old company."

Building a great deal starts with understanding people, not just numbers.In this aulium episode, Henrik Buehler sits down with host Thomas to talk about why emotions quietly drive B2B deals, search funds, and the future of European succession. 💼Henrik walks through his path from Stifel in London to private equity, to Jacobs family office in Zurich, and finally to co founding H&B Mittelstandspartner. What looks like a neat CV is actually a story of stepping away from advisory comfort and choosing to own a single company, with all the risk that implies.Together, Henrik and Thomas unpack how a traditional search fund really works in practice, why he chose the funded search route over self funded, and how two years of runway changes your risk profile and mindset. They get into the unglamorous reality of sourcing too databases, succession statistics from German chambers of commerce, and the grind of writing hundreds of highly targeted, sometimes slightly buggy, outreach emails.A big part of the conversation is about trust. Henrik explains what makes a 65 year old founder choose him and his partner Don over a large private equity buyer with deeper pockets. It is not a higher multiple. It is the promise to preserve a culture, keep jobs in the town, and be the person who is actually in the building on Monday morning. 🤝They also explore the delicate question of founding with a close friend. Henrik is blunt about co founder risk, how they formalized decision making between a CFO style and COO style role, and why hard feedback only works when ego is parked at the door. From co CEO models to clearly defined responsibilities, he shows how structure can protect both the company and the friendship.If you are curious about search funds in Europe, Henrik shares numbers, geographies, and why Spain is years ahead thanks to its universities, while Germany is catching up fast. And if you are scanning for your own entrepreneurial-through-acquisition path, his take on what a "great business" really looks like recurring revenue, margins, and mission critical products is worth pausing on. 📈"In the end, the M&A market is fundamentally driven by emotions."

Here’s a founder story that blends speed, scars, and systems. Thomas with co-host Markus digs in with Pavel Guzhikov—co-founder of Uzbekistan’s Uzum and now building Meadows—on how he thinks from day zero to PMF. 🚀Pavel’s new bet, Meadows, is an insight engine for real-world decisions: councils, banks, businesses. It pulls raw signals from streets and shopfronts, then tells you what to build next—and why. Not hand-wavy AI, but sentiment, cohorts, and choices you can defend.We get the playbook: trust your gut, but check the retention curves; empower people at the edge; move fast where incumbents move slow. Acquisition vs unit economics isn’t a binary—if retention is real, you can earn later. 🧠On Uzum, the “why” wasn’t valuation—it was impact. First-mover e-commerce + fintech, TV-led trust, hammer goods to build habit, and zero-fee P2P to get money flowing. The unicorn label came after the country changed, not before. 🌍There’s the cost, too: a near-collapse early in his career, then a rebuild grounded in dashboards, cohorts, and stepping back only when the team sees the problem before he does. And his take on AI? Useful, overhyped—invest with discipline, not delusion."Vision-driven, data-informed."

Join us as we dive into a thought-provoking conversation with Paul, a partner at AlbionVC, who shares his journey from investment banking to venture capital. In this episode, Paul offers a bold perspective on the current state of the US tech industry and discusses the burgeoning potential of Europe's tech scene. Discover insights into the dynamics of early-stage investments, the impact of AI on the software landscape, and what it takes to succeed in the competitive world of venture capital.