Leeney on EU|VC

Andreas FROM EU|VC HoSTS JACK TO TALK ABOUT The AI Supercycle, IPO Windows & Europe’s Missing M&A Flywheel

Andreas Munk Holm hostS EU|VC, a leading community and media platform for European venture Through which he unites founders, investors around the question of how Europe can build a more liquid and globally competitive tech ecosystem.

in April last Year, 7GC co-founder Steffen Pauls JOINED ANDREAS FOR A session on the Democratisation of Private Equity and Venture capital. Last month, Jack stepped in to walk through 7GC’s transatlantic strategy, the unfolding AI supercycle, the reopening of IPO windows and the structural gaps holding back Europe’s M&A environment.

IN HIS INTERVIEW, Jack Leeney breaks down how 7GC operates a transatlantic model by investing where deep liquidity exists - mainly the US public markets - while sourcing exceptional founders across both the US and Europe.

He explains how the AI supercycle is unfolding with a clear stack progression: infrastructure first then platform, followed by horizontal tools and finally vertical applications.

He highlights why this AI cycle differs from previous hype periods, driven by real compute breakthroughs and sustained demand curves. The conversation maps today’s frontier-model landscape contrasting OpenAI Anthropic and Mistral and outlines why Meta’s open-source Llama strategy is both defensive and market-expanding.

Jack also discusses 7GC’s European AI bets including Poolside and Fluidstack. describing how dual-market strategies help founders capture US commercial opportunities while leveraging European talent pools. On regulation, he frames the EU AI Act as a mix of noise and nuance stressing that customers ultimately dictate adoption.

The episode turns to market structure explaining why US IPO windows have reopened while Europe remains quiet, how 7GC uses secondaries to return stock to LPs and why Europe’s biggest gap is scaled M&A.