In this episode, Andreas Munk Holm speaks with Oskar Hartmann, legendary operator turned super angel.

From Kazakhstan to Germany, Russia, Japan, and now Dubai and Silicon Valley, Oskar has built and exited more than 10 companies, invested in 150+ ventures (14 unicorns among them), and today is pioneering a new way to solve concentration risk for founders and angels: Accumulator, a share-pooling model unlocking liquidity and diversification.

They dive into Oskar’s “beast mode” founder philosophy, his candid battles with burnout, the importance of product–soul fit, and why Europe doesn’t just need more unicorns, it needs deca- and hectocorns.

Along the way, Oskar shares his learnings from India’s ecosystem, his obsession with avoiding adverse selection, and his belief that communities, not individuals, create enduring success.

Title: E680 | Oskar Hartmann, Accumulator: From Beast Mode to a New Angel Investing Model

Author: EUVC

Publication date: Jan 13, 2026

Article content

---

E680 | Oskar Hartmann, Accumulator: From Beast Mode to a New Angel Investing Model

In this episode, Andreas Munk Holm speaks with Oskar Hartmann, legendary operator turned super‑angel. From Kazakhstan to Germany, Russia, Japan, and now Dubai and Silicon Valley, Oskar has built and exited more than 10 companies, invested in 150+ ventures (including 14 unicorns), and today is pioneering a new way to solve concentration risk for founders and angels: Accumulator, a share‑pooling model unlocking liquidity and diversification.

They dive into Oskar’s “beast mode” founder philosophy, his candid battles with burnout, the importance of product‑soul fit, and why Europe doesn’t just need more unicorns—it needs deca‑ and hectocorns. Along the way, Oskar shares his learnings from India’s ecosystem, his obsession with avoiding adverse selection, and his belief that communities, not individuals, create enduring success.

---

E679 | This Week in European Tech with Dan, Mads & Lomax

Welcome back to another episode of Upside at the EUVC Podcast, where Dan Bowyer, Mads Jensen (SuperSeed) and Lomax Ward (Outsized Ventures) cut through the noise shaping tech, venture, and geopolitics in Europe and beyond.

Key topics covered:

• ChatGPT health launch, privacy/encryption, “use with skepticism”

• FDA shifts: deregulation + faster approvals for AI medical devices / wearables

• Trump + Greenland + NATO: geopolitics, minerals, defense, European sovereignty

• France proposing a social‑media ban for under‑15s; phones in schools; EU vs US regulation

• Meta reportedly buying Manus (AI agents / applications layer)

• Octopus Energy’s Kraken spin‑out: valuation, contracted revenue, European “hidden champion”

• Discord IPO chatter: nearing ~$1 B ARR; monetisation model

• UK pensions: pressure to allocate to privates; constraints + risk/return trade‑offs

• FTSE 100 hits 10,000; UK vs S&P; defence‑driven rally; low‑tech weighting

• CES: Nvidia autonomous driving + open‑sourcing; “physical AI” + Mercedes partnership

• China & Nvidia H2O pressures; AMD vs Nvidia software gap; Intel relevance

---

E678 | Giovanni Daprà & Paolo Gesess: Moneyfarm’s Journey, United Ventures’ Playbook & How Europe’s Fintech Winners Scale

Andreas Munk Holm sits down with two pillars of Italy’s modern tech ecosystem:

• Giovanni Daprà, CEO & co‑founder of Moneyfarm, one of Europe’s leading digital wealth‑management platforms

• Paolo Gesess, co‑founder & GP at United Ventures, one of Italy’s premier early‑stage VC firms

Discussion points:

• Moneyfarm’s evolution from a Milan‑founded startup to a pan‑European fintech player

• Italy’s ecosystem development and United Ventures’ strategic support

• The shift from blitzscaling to “default alive” that strengthened Moneyfarm

• European fintech’s move toward consolidation and acquisition‑led expansion

Highlights include:

• Moneyfarm now manages £6.5 B across Italy & the UK

• United Ventures backed Moneyfarm for its massive savings problem, founder clarity, and long‑term mission

• Building from Italy first: leveraging local regulatory fluency + talent cost advantages while keeping a pan‑European vision

• Key board decisions: buy‑backs, global investors, B2B2C expansion

• Surviving the capital cycle: interest‑rate spikes, shifting from burn to profitability in 24 months

• “Default alive” as Europe’s preferred growth model vs. blitzscaling

• Founder‑VC dynamics on growth vs. profit, stress management, cap‑table realities, and M&A playbooks

---

E677 | Michael Brehm, Redstone: One Investment, 200 Ventures — The New Blueprint for European VC Access

Andreas sits down with Michael Sackler, founder of Supernode Global, to unpack the thesis behind Supernode’s Fund II: backing application‑layer software with great UI/UX — the tools people actually use every day at home and at work — at a time when most European funds avoid consumer and default to “AI‑infra everything.”

Key insights:

• Film background shaping tech leverage

• Consumer‑grade experiences applied to B2B

• Six theme areas (wellbeing, productivity, community, creative and professional augmentation)

• 34 % GP commit as unusually strong skin in the game

---

E676 | Poone Mokari, ewake.ai & Pietro Bezza, Connect Ventures: Building the AI Teammate for Software Reliability

Discussion of reliability in modern software and how AI agents can provide a “reasoning layer” over logs, metrics, and code.

Covered topics:

• ewake’s AI agents for production reliability

• Why Connect Ventures backed them (category size, founder insight)

• Shift from reactive dashboards to intelligent root‑cause analysis

• “Can we trust AI?” – constraints, hallucination guards, “don’t know” responses

• Founder‑market fit, product‑first thesis, and fundraising strategy

---

E675 | Binh Tran, AVV (Ascend Vietnam Ventures): Building Boldly Across Borders

Special Southeast‑Asia edition with David Cruz e Silva (EUVC) and Ambika (Circle Capital) interviewing Binh Tran, serial founder‑turned‑VC.

Key points:

• Vietnam’s ecosystem growth and power‑law returns

• Government catalysts and rapid startup formation

• Investment focus on tech talent, not just local markets

• Hands‑on VC approach in emerging markets

• Impact vs. returns, LP mix, and founder support

---

E674 | Michael Sackler, Supernode Global: Betting on the Tools We All Use Every Day

Michael Sackler’s journey from film to Supernode Global, an early‑stage fund focused on application‑layer software.

Highlights:

• Fund I proved the model; Fund II scales it

• Six thematic areas across wellbeing, productivity, vitality, life‑ops, community, and creative/pro‑work augmentation

• 13 companies deployed; portfolio tells the story

• Sourcing edge: gender‑balanced team, inbound/outbound mix

• Speed as a superpower; growth support and fundraising pathways

• 34 % GP commit as a strong signal to LPs

• AI’s role in enhancing work vs. erasing human craft

---

E673 | Matti Hautsalo, Nordic Science Investments: University Spin‑outs, Multidisciplinary Bets & The Playbook to Scale Science in Europe

Matti Hautsalo, Founding Partner at Nordic Science Investments (NSI), discusses the €60 M early‑stage fund dedicated to university spin‑outs across the Nordics and Europe.

Key themes:

• “Dynamic Duo” model (founder‑scientist stays CSO/CTO, external CEO/CBO hired early)

• Bridging the “Death Valley” gap for spin‑outs

• Working with TTOs, ownership structures, and cap‑table design

• Multidisciplinary teams as a source of alpha

• Case study: Perfect Technologies (ultrasound‑structured oils)

• Ticket sizes and milestone‑based funding

---

E672 | Stefan Roebel: Building Europe’s New Defense Tech Prime

Stefan Roebel, Co‑Founder & CEO of ARX Robotics, shares the journey from German Armed Forces to defense‑tech startup.

Covered:

• From DIY decoy robots to NATO‑backed modular systems deployed in Ukraine

• Need for Europe to break slow procurement culture

• Startups as “new primes” in defense

• Dual‑use autonomy, AI in defense robotics, hiring considerations

---

E671 | Matthew Wilson (Jack & Jill) & Peter Specht (Creandum): AI Recruiting Agents, a $20 M Seed & the New GTM Playbook

Discussion of Jack & Jill’s AI‑driven recruiting agents, their $20 M seed round, and scaling strategies.

Key points:

• Voice‑based interfaces and the broken recruiting vertical

• Two‑sided network (Jack for candidates, Jill for companies)

• Incentive alignment, coaching, and AI‑enabled career guidance

• Fast growth, PLG dominance, and distribution tactics

---

E670 | This Week in European Tech with Dan, Mads & Lomax

Holiday‑home special covering:

• AI‑for‑Science, robotics, AI scientist era

• National‑curriculum Gemini tutor vision

• SpaceX 2026 IPO, Starship, orbital compute

• Europe’s missed space race, Portugal’s “Economy of the Year”

• Defence budgets, AI corner (bubble fears, Mistral, Meta, China)

---

E669 | Harrison Rose, GoodFit: How AI Is Rewriting B2B Go‑to‑Market

Harrison Rose (former Paddle co‑founder) discusses GoodFit’s AI‑driven GTM data platform.

Highlights:

• Mapping markets, scoring accounts

• From internal tool to standalone company

• Founder‑market fit, bootstrapping, and AI’s impact on outreach

---

E668 | Sergey Jakimov, LongeVC: Impacting Lives Through Longevity & Health Investing

Sergey Jakimov (Co‑founder & Managing Partner) outlines LongeVC’s focus on biotech, AI‑driven drug discovery, and healthy‑aging investments.

Covered:

• 3×+ MOIC track record, advisory board, AI‑driven diligence

• Market size ($1.6 T) and case studies (Insilico Medicine, Turn Biotechnologies, Rubedo Life Sciences)

• Fund II structure, LP privileges, and longevity as a moral/financial imperative

---

E667 | Ole Lehmann: AI Solopreneurs, Crypto’s Unkept Promise & the Case for Building in Europe

Ole Lehmann talks about the rise of solopreneurs, AI tools for solo founders, and blockchain as AI infrastructure.

Key topics:

• Journey from music production to crypto to AI education

• Crypto disillusionment, blockchain infrastructure promise

• Content‑market fit vs. product‑market fit

• Interest graphs, founder classes, cultural hurdles, and political engagement

---

E666 | Charles Dunn & Ruth McKernan, SV Health Investors: Exit of the Year Winners and Biotech Company Builders

Discussion of SV Health’s biotech exits (EyeBio to Merck) and new company creation (Driag Therapeutics).

Key insights:

• Diversified risk across stages, learning across stages, flexible company formation

---

E665 | This Week in European Tech with Dan, Mads & Lomax

Wide‑ranging conversation on:

• Bending Spoons roll‑up, Brexit’s hangover, Volkswagen challenges, Google vs OpenAI “Code Red,” Europe’s shock moment

---

E664 | Mikael Johnsson, Oxx: AI Hype, Real Productivity & How Not to Lose the Plot

Mikael Johnsson (Co‑founder & GP, Oxx) discusses valuation discipline, fundamentals, and distinguishing hype from substance in AI adoption.

---

E663 | Leyla Holterud, Vintage Investment Partners: European Venture Growth, Secondaries & the Future of Vintage

Leyla Holterud (Partner) shares Vintage’s €4.3 B platform strategy across fund‑of‑funds, growth, and secondaries.

---

E662 | Damian Cristian & Guy Conway, Rule 30: Building the First Fully Systematic VC

Exploration of “Quant VC” vs. traditional venture, systematic investment models, and portfolio construction math.

---

E661 | Jack Leeney, 7GC: The AI Supercycle, IPO Windows & Europe’s Missing M&A Flywheel

Jack Leeney (Co‑founder, 7GC) explains AI supercycle, infrastructure vs. platform bets, IPO windows, and Europe’s M&A challenges.

---

E660 | This Week in European Tech with Dan, Mads, Lomax & Robin Haak

Topics include:

• Social‑media restrictions for minors, surveillance creep, UK budget, VAT scandal, N26 regulatory struggles, German macro problems, AI corner, and the rise of solo GPs.

---

E659 | Max Kufner (again) & Jan Miczaika (HV Capital): Turning CO₂ into Chemicals and Building Europe’s Deep‑Tech Playbook

Discussion of again’s gas‑eating microbes turning CO₂ into chemicals, HV Capital’s backing, and deep‑tech scaling challenges.

---

E658 | Martin Scherrer, Redstone VC: CVC Secondaries Without Burning Bridges

Insights on corporate venture capital secondaries, runoff vs. sell‑off, governance, and preserving value in CVC wind‑downs.

---

E657 | Jan Lozek, Future Energy Ventures (FEV): From Corporate Carve‑Out to Climate Capital

Jan Lozek (Co‑Founder & MD) explains FEV’s spin‑out from E.ON, two‑fund model, software‑first thesis, and scaling climate‑tech investments.

---

E656 | This Week in European Tech with Dan, Mads & Lomax

Coverage of Slush recap, Germany’s €35 B space strategy, immigrant founder effect, Brexit, defence stocks, Vinted secondary, cookie‑banner rollback, UK AI wave, China’s leverage, Europe’s multipolar dilemma, AI compute battles, and deals of the week.

---

E655 | Dave Bailey, FounderCoach.com: From Founder to Coach — Competence, Curiosity & Scaling European Tech

Dave Bailey (FounderCoach.com) shares his path from Delivery Hero to founder coach, coaching methodology, founder mindset, and scaling leadership.

---

E654 | Adrian Locher, Merantix Capital: AI Studios & the Future of Venture Building

Adrian Locher (Co‑founder, Merantix Capital) discusses the studio model, validation‑first approach, AI’s relevance to studios, and future venture‑studio landscape.

---

E653 | Elisabeth Schrey, Deep Tech & Climate Fonds (DTCF): DeepTech & Climate Fonds

Elisabeth Schrey (Director) outlines the €1 B DTCF, its co‑investment model, policy‑fragile sectors, and the role of public capital in deep‑tech and climate.

---

E652 | Lea Strumberger, KfW Capital: How one of Europe’s Largest Public LP Thinks About Opportunity Funds

Lea Strumberger (Senior Investment Manager) explains KfW Capital’s Opportunity Fund structure, diligence, terms, governance, and market pulse.

---

E651 | This Week in European Tech: Exit Taxes, AI Reality Checks & The New Tech Sovereignty Race

Discussion of UK exit tax, China’s open‑source AI threat, hyperscaler accounting, European supply‑chain vulnerabilities, and kill‑switch considerations.

---

E650 | Patrick Odier (Lombard Odier & Building Bridges) & Enrique, Chi Impact Capital: Three Systemic Plays to Underwrite Now

Patrick Odier (Chair, Lombard Odier) and Enrique (Chi Impact) explore systemic transition investing: circularity, energy, nature, materials, and the role of private assets.

---

E649 | Mariette Roesink, Curie Capital: Backing Life Sciences, Unicorns & Zero Bankruptcies

Mariette Roesink (Co‑Founder) discusses Curie Capital’s dual promise of outsized returns and patient impact, family‑money alignment, and Europe’s biotech strengths.

---

E648 | This Week in European Tech: The Baltics, Bureaucracy & Building Boldly

Conversation with Jone Vaituleviciute (Firstpick VC) on Baltic startup ecosystem, bootstrapping culture, defence deals, and AI reality in Europe.

---

E647 | Kristaps Ronis, ION Pacific: The Rise of Structured Secondaries in Venture

Kristaps Ronis (Partner) explains structured secondaries, liquidity without selling, DPI importance, and the European secondary market landscape.

---

E646 | Alper (Ogane) & Enis Hulli (e2vc): Pivoting Models & Building Global Gaming Success from Turkey

Alper Oner (Agave Games) and Enis Hulli (e2vc) discuss Agave’s journey, pivot from publishing to studio, scaling metrics, and Turkey’s gaming boom.

---

E645 | Seb Agertoft (Evolution) & Mike Reiner (432 Legacy): Venture Beyond — Trauma vs Purpose

Seb Agertoft (Evolution) and Mike Reiner explore coaching founders, product‑depth in coaching, trauma, purpose, and balancing conviction with openness.

---

E644 | This Week in European Tech with Dan, Mads, Lomax & Andrew J Scott: AI Moratoriums, Market Cooldowns & the Politics of Progress

Debate on AI moratoriums, European safety‑first politics, LP freeze, optimism deficit, policy paralysis, deep‑tech divergence, founder‑state roles, and the European reset.

---

E643 | Sebastian Peck, KOMPAS VC: Europe’s Industrial Tech Moment — Decarbonisation, AI & the Risk Appetite Gap

Sebastian Peck (Partner) outlines industrial tech’s pillars, AI’s role, robotics reality, adoption hurdles, regulation, and KOMPAS VC’s fund II focus.

---

E642 | Lucanus Polagnoli & Stephanie Urbanski, Calm/Storm: Digital Health, Not Hype — Building, Backing & Staying Calm Through the Cycle

Discussion of Calm/Storm’s specialist digital‑health fund, community‑as‑product, regulation as moat, AI in health, and portfolio highlights.

---

E641 | This Week in European Tech with Dan, Mads, Lomax & Andrew J Scott: AI, Robots & Regulation

Topics include Amazon’s robot push, European manufacturing robotics, AI’s second industrial revolution, productivity vs. policy, UK AI sandbox, EU 28th Regime, and German bottlenecks.

---

E640 | Stephen Chandler, Jessica Bartos & Stephanie Opdam, Notion Capital: Scaling European Growth Companies with Founder Quality & AI Insight

Notion Capital’s growth fund launch, founder quality, AI trends, enterprise GTM, diligence at growth stage, exit strategy, and global ambition.

---

E639 | Alexandre Mars, Blisce: From Serial Entrepreneur to Impact VC — Rethinking Freedom, Purpose & Europe’s Tech Future

Alexandre Mars (Blisce) shares his transition from founder to impact investor, defining impact, Europe vs. US risk cultures, and tech’s role in society.

---

E638 | Matti Rönkkö, Kiilto Ventures: Family Capital, Industrial Know‑How & Sustainable Built World

Matti Rönkkö (Managing Director) discusses Kiilto Ventures’ family‑office model, CVC vs. VC dynamics, portfolio in sustainable built environment, and price‑parity focus.

---

E637 | Anders Kjær, PSV Hafnium: Building Denmark’s First Deep‑Tech Fund & the New Nordic Innovation Advantage

Anders Kjær (GP) explains PSV Hafnium’s deep‑tech focus, Nordic research‑industrial complex, founder readiness, and scaling deep‑tech companies.

---

E636 | This Week in European Tech with Dan, Mads, Lomax & Ben Prade

Coverage of fundraising realities, sovereign LP strings, liquidity via secondaries, AI compute battles, China’s “dark factories,” and Europe’s capital challenges.

---

E635 | EUCVC Summit 2025: Francesco Di Lorenzo, Copenhagen Business School — Nordic CVC Insights

Francesco Di Lorenzo (Associate Professor) presents research on Nordic CVC models, tools beyond CVC, success metrics, governance cycles, and AI paradox.

---

E634 | EUCVC Summit 2025: Christian Tang (Acme) & Claus Gregersen (Augustinus Fabrikker): Global Ambition in an Age of Sovereignty

Conversation on global expansion, trade tensions, value‑adding capital, and lessons from COVID and defence for lean, fast building.

---

E633 | EUCVC Summit 2025: Anne C. Fleischer (Novo Nordisk) & Henrijette Richter (Sofinnova Partners): Innovation in Health

Discussion of pharma’s digital leap, AI in patient interfaces, corporate‑VC collaboration, scaling deep‑tech health, and Europe’s scientific edge.

---

E632 | EUCVC Summit 2025: Charlie Hayward, Global Corporate Venturing: The Data Behind the $100 B CVC Wave

Charlie Hayward outlines CVC’s global scale, sector focus, performance, early‑stage shift, and emerging hotspots in Latin America and APAC.

---

E631 | EUCVC Summit 2025: Marcus Behrendt (BMW iVentures) & Nicole LeBlanc (Woven Capital): What is next in the European Automotive industry

Insights on mobility CVCs, strategic vs. financial returns, hardware capital intensity, founder‑CVC frictions, exit realities, and future sustainability, AI, and cross‑border collaboration.