In this episode of Fault Lines, Augustin Sayer sits down with Damian Cristian, co-founder of rule30, a London fund where an algorithm picks the startups. Marc Andreessen says venture capital will be the last job AI takes over; Damian disagrees. A mathematician from Transylvania who ran a venture builder in London, he found early-stage investing too random, with no feedback loops, and spent years building a system that studies a thousand companies a week and learns from every decision.

They talk about skill, luck and brand in VC, why pre-seed is the hardest stage to pick, the three years of data work behind the model, live testing inside European investment committees, the demo fund now investing with almost no human in the loop, and the next step: an "investor in your pocket" that founders can talk to on WhatsApp. Damian also shares which VCs he thinks will be replaced, why incumbents won't lead the change, and why he is betting on the hard tech that "feeds the machine god".

[00:00:00] Will AI replace VCs? Andreessen's claim

[00:01:05] Meet Damian Cristian: from Transylvania to London

[00:01:52] Why early-stage VC feels random

[00:04:07] Skill, luck or brand: what really drives returns

[00:06:20] Is venture capital a roulette table?

[00:09:27] Rebuilding VC as a self-learning system

[00:11:06] Eight months in an Airbnb to build a startup picker

[00:12:39] Why pre-seed is the hardest stage to pick

[00:14:01] Lovable, Real Madrid and the football scout analogy

[00:16:11] 2019: betting a career on the problem

[00:17:02] Laughed at in fundraising meetings

[00:18:07] Rebuilding every founder's data, point in time

[00:21:01] The VC myths about repeat and young founders

[00:22:03] Model drift after ChatGPT

[00:23:07] Live testing inside European investment committees

[00:25:32] Why rule30 raised its own fund

[00:25:55] Where humans still step in

[00:28:45] The catch-22 of picking unicorns

[00:29:37] Cutting through the noise of "AI VCs"

[00:32:07] Convincing LPs with sandboxes and TVPI tests

[00:34:25] Delusional or onto something?

[00:35:13] Can there be only one AI-native VC?

[00:36:03] Which VCs will be replaced

[00:37:26] Why incumbents won't lead the change

[00:38:40] Building the brand between London and San Francisco

[00:39:54] An investor in your pocket, on WhatsApp

[00:41:45] How long does a tech moat last?

[00:44:16] Feeding the machine god: energy, chips and hard tech

[00:45:43] Contrarian, but not too weird

[00:49:00] Selling shoes to the shoemaker

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.

In this episode of the OVNIs Podcast, host Marie Outtier welcomes Nare Janvelyan, investor at Voyager, for a deep dive into the unlikely path that brought her from Harvard’s chemical physics labs to the world of climate-tech venture capital. Nare retraces her journey from researching nanomaterials to advising late-stage startups in San Francisco, then ultimately finding her place in climate-focused VC—where her scientific background, consulting experience, and passion for global impact naturally converge. She explains how this blend allows her to evaluate technologies from first principles, understand commercialization challenges, and support founders building ambitious, world-changing companies.

Together, they explore how Voyager structures its investment lens across North America and Europe, what gives the team its multidisciplinary edge, and how climate tech founders can bridge the gap between deep science and market realities. Nare also shares insights on battery technologies, space-based manufacturing, geopolitical contradictions around climate, and the traits she believes are essential for mission-driven entrepreneurs. The conversation ends with a dynamic quick-fire round—from overrated buzzwords to her recommended reading—offering both inspiration and clarity for anyone curious about the future of climate innovation.

[00:00:00] Introduction - Marie welcomes Nare & her “unexpected” Harvard PhD background

[00:01:13] From lab to business - leaving academia for management consulting in San Francisco

[00:03:01] Discovering venture - why climate tech VC was the perfect fit

[00:04:47] Joining Voyager - culture, team composition & what makes the fund unique

[00:08:16] Deep tech in practice - materials event & the example of Lida’s microwave furnace

[00:12:11] From scientist to founder - what Voyager looks for in deeply technical teams

[00:12:56] Transatlantic lens - investing across North America & Europe, policy and culture gaps

[00:19:25] Batteries & China - Electroflow, LFP, and why “copy-paste” from China won’t work

[00:23:24] Changing her mind - carbon capture, hydrogen hype & what doesn’t fit VC

[00:26:08] Space manufacturing - why making materials in orbit could change everything

[00:29:03] Mission & urgency - climate founders, grit, and the immigrant mindset

[00:30:39] Quick-fire round - overrated buzzwords, hydrogen, book rec & closing

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.

In this episode of Fault Lines, Augustin Sayer sits down with Nicolas Sauvage, founder and President of TDK Ventures, to unpack how he built a corporate venture capital fund designed to avoid the traditional pitfalls of CVC. Nicolas shares the unlikely story behind its creation—from discovering corporate venture capital at Stanford and hearing “no” repeatedly inside TDK, to eventually convincing the company’s leadership to launch the fund in 2019.

The conversation explores what makes TDK Ventures different: treating entrepreneurs as customers, building investment convictions from first principles, and refusing to see financial returns and strategic value as competing objectives. Nicolas explains why the real mission is exploration—finding the technologies, founders and future market leaders that could become TDK’s next major business pillar—and shares the culture and investment process behind a portfolio that has grown to more than 50 companies.

[00:00:00] Meet Nicolas Sauvage and TDK Ventures
[00:03:35] Discovering Corporate Venture Capital at Stanford
[00:08:45] Why Corporate VCs Fail
[00:11:26] Strategic vs. Financial Returns: The Wrong Question
[00:14:00] Convincing TDK to Launch a Venture Fund
[00:19:47] The “Killer Slide” That Won Over TDK’s CEO
[00:23:23] What Success Really Means for TDK Ventures
[00:26:52] Building the Culture Behind TDK Ventures
[00:29:15] Creating “Equal Win” Partnerships With Startups
[00:30:19] Why CVCs Fail When They Disappoint Entrepreneurs
[00:32:32] How TDK Ventures Won Its First Investment
[00:35:20] Building a Mission-Driven Investment Team
[00:38:29] Going Deep: How TDK Ventures Builds Investment Conviction
[00:42:00] The Investment Process and First-Principles Thinking
[00:48:39] Final Takeaways and Closing Thoughts

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.

In this episode of ONVIs, we sit down with Devang Sachdev, founder of Superpower Ventures, to explore how he’s betting on the future of deep tech. With a background in building billion-dollar businesses and a sharp eye for GPUs, AI, and frontier technologies, Devang shares why he believes the next generation of startups will be defined by technical breakthroughs rather than incremental improvements.

We discuss his journey from entrepreneurship to venture capital, the role of storytelling in shaping big ideas, and how founders can harness their own “superpowers” to stand out in competitive markets. Whether you’re a startup founder, investor, or simply curious about where innovation is headed, this conversation offers a clear window into the deep tech ecosystem.

[00:00:00] Introduction

[00:02:15] Devang’s journey from entrepreneur to investor

[00:06:40] Founding Superpower Ventures

[00:10:05] Why Deep Tech matters now

[00:14:30] GPUs and the AI revolution

[00:19:45] Lessons from building billion-dollar businesses

[00:24:20] The power of storytelling in venture capital

[00:28:55] How founders can harness their “superpowers”

[00:33:10] Investing principles for the next wave of startups

[00:38:25] Opportunities and challenges in Deep Tech

[00:43:00] Advice for founders entering frontier markets

[00:47:30] The future of Superpower Ventures

[00:50:00] Closing thoughts and key takeaways

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.

In this episode of Fault Lines, Augustin Sayer sits down with Lotti Siniscalco, General Partner at Emergence Capital, to trace an unconventional journey from growing up in Milan to building a career in Silicon Valley. Lotti reflects on leaving Italy as a teenager, finding her footing in the US, and navigating Wharton, Goldman Sachs and private equity before discovering the world of venture capital.

The conversation explores what drew Lotti to venture, the shift in mindset required to move from private equity to backing ambitious founders, and her rise from Senior Associate to General Partner at Emergence. Along the way, she opens up about ambition, identity, being an immigrant and a woman in finance and tech, and ultimately finding an environment where curiosity, risk-taking and bringing your full self to work can become an advantage.

[00:00:00] Introduction: Lotti Siniscalco and the immigrant journey
[00:00:47] Growing up in Milan and challenging the status quo
[00:03:36] Leaving Italy for an American high school
[00:08:10] From Milan to Wharton
[00:12:45] Starting a career at Goldman Sachs
[00:17:52] Being a woman and an outsider on Wall Street
[00:21:22] From Carlotta to Lotti: merging personal and professional identities
[00:23:15] Private equity, ambition and the “gold star” path
[00:26:01] Discovering Silicon Valley and finding a place to belong
[00:29:02] Stanford, startups and choosing venture capital
[00:32:56] Private equity vs. venture: rewiring the investor mindset
[00:33:59] Joining Emergence Capital and becoming a General Partner
[00:36:05] Being a woman in VC and the realities of motherhood
[00:40:48] The Emergence Capital investment thesis
[00:42:39] From SaaS to AI, agents and robotics
[00:44:16] How Lotti builds investment conviction
[00:46:40] Competing for the best venture deals
[00:49:17] Why great investments require non-consensus thinking
[00:50:56] Advice for European founders moving to Silicon Valley
[00:53:10] Closing thoughts

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.

In this episode of Fault Lines, Augustin Sayer sits down with Matt Logan, co-founder and General Partner at Earthshot Ventures, to trace his journey from climate policy and early cleantech startups to venture capital. Matt shares how years spent across operating roles, corporate venture and Elemental Impact ultimately led to the creation of Earthshot Ventures, a fund built around the conviction that climate solutions need to be not only impactful, but economically compelling and capable of scaling.

The conversation dives into Earthshot’s evolving investment thesis and its “clean intelligence stack”: from critical minerals and clean energy to efficient computing, AI infrastructure and climate-positive applications. Augustin and Matt explore what the AI boom means for energy and resources, why critical minerals are becoming increasingly strategic, and how startups can build the infrastructure needed to power a cleaner, more intelligent economy.

[00:00:00] Introducing Matt Logan and Earthshot Ventures
[00:01:18] From Climate Policy to Climate Tech
[00:04:44] The Cleantech “Nuclear Winter”
[00:06:31] Breaking Into Venture Capital
[00:07:27] Building the Future of Energy Storage
[00:12:51] Joining Elemental Impact
[00:16:54] How Earthshot Ventures Was Born
[00:18:43] Climate Impact Meets Financial Returns
[00:21:52] Raising Earthshot’s First Fund
[00:29:18] Finding the Best Climate Tech Founders
[00:34:34] Why Ownership Percentage Isn’t Everything
[00:39:00] The “Clean Intelligence Stack”
[00:39:37] The AI Supply Chain and Its Climate Impact
[00:49:22] Making Data Centers More Flexible
[00:49:25] Emerald AI and the Future of Clean Compute

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.

Arnaud Auger, a seasoned venture capitalist at Cathay Innovation, has carved a unique niche in the realm of longevity and human optimization. Residing in San Francisco, he has transformed his life through a dedication to health and longevity, inspired by personal challenges and a Silicon Valley ethos. After grappling with obesity and health concerns upon his arrival in the city, Arnaud embraced the principle that "you can only change what you measure," undergoing comprehensive tests to understand his body better.

In addition to his personal journey, Arnaud is a co-founder of the San Francisco chapter of "Don't Die," a movement initiated by Brian Johnson. This initiative focuses on promoting health and longevity, underscoring the importance of not just living but thriving. As a VC, Arnaud is at the forefront of investing in innovative longevity startups, seeking to transform healthcare from reactive to preventative. His work involves bridging the gap between Europe and the U.S. in the VC landscape, fostering global partnerships to advance the cause of longevity.

[00:00:00]: Introduction

[00:00:10]: Arnaud's first experience in San Francisco

[00:01:04]: Introducing Arnaud, VC at Cathé Innovation

[00:02:05]: Arnaud's journey to becoming a longevity athlete

[00:04:06]: Using technology and wearables for health tracking

[00:05:42]: Arnaud's progress and biological age improvement

[00:06:09]: Using Superpower and Shape Scale for health metrics

[00:06:26]: Longevity tech and biohacking explained

[00:07:26]: Identity and habits in health transformation

[00:08:09]: The Don't Die Movement and its philosophy

[00:15:26]: Incentives for healthier lifestyles in the US

[00:16:23]: Arnaud's venture capital focus on longevity startups

[00:17:25]: Types of longevity startups and investment interest

[00:18:24]: Cathay Innovation's global investment strategy

[00:20:16]: The future of health: prevention and precision

[00:24:28]: San Francisco as a hub for AI and longevity

[00:25:32]: Global VC insights and the importance of Silicon Valley

[00:27:36]: Rapid-fire questions – wearables and wellness

[00:28:21]: Overrated wellness trends

[00:29:04]: Dream startup investment criteria

[00:29:31]: Inspiring advice for living a better, longer life

[00:30:28]: Importance of social health and community

[00:31:24]: The concept of blue zones and social connectivity

[00:31:49]: San Francisco's culture and personal growth

[00:32:52]: Conclusion

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.

In this episode of Fault Lines, Thomas Renaudin sits down with Cristian Pinto from Pluto House and daphni to explore where ambition comes from, and whether it can be engineered. From growing up on the outskirts of Rio de Janeiro and moving to the US to pursue American football, to working construction in Portugal and eventually entering European venture capital, Cristian shares the unconventional journey that shaped his conviction that ambition needs both role models and a certain dose of naivety.

The conversation turns to Pluto House and its mission to bring together Europe’s most ambitious hard-tech founders around the industries that underpin society. Cristian and Thomas discuss Europe’s fragmented startup ecosystem, the importance of role models and “social permission,” and why Europe shouldn’t try to recreate Silicon Valley but instead turn its fragmentation into an advantage. At the heart of it all is a simple idea: surround talented people with ambition, give them permission to dream bigger, and get Europe excited about building hard things again.

[00:00:00] Ambition: Where Does It Come From?
[00:01:30] From the Outskirts of Rio to the American Dream
[00:04:50] Chasing an Impossible American Football Career
[00:08:03] Entrepreneurship, Survival and Hustle
[00:09:55] From Football to Construction in Europe
[00:12:49] Why Cristian Built Pluto House
[00:16:34] Why Founders Need Role Models
[00:19:36] Can Ambition Be Engineered?
[00:21:38] What Happens Inside a Pluto House
[00:24:09] Role Models and the Social Permission to Dream Big
[00:25:55] Why Europe Struggles With Ambition
[00:30:28] Does Europe Need Its Own Silicon Valley?
[00:31:23] Turning Europe’s Fragmentation Into an Advantage
[00:34:03] What Would Success Look Like for Pluto?
[00:35:47] Building Hard Things Again in Europe
[00:37:27] Closing Thoughts

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.