Smedvig Ventures | Venture Voices

In this Venture Voices episode, we sit down with Jonathan Lerner, Partner at Smedvig Capital,  a long-term VC firm backing Europe’s most promising tech startups with evergreen capital.

Jonathan shares his candid perspective on the realities of startup growth, from Series A to scale. With years of experience supporting founders, he discusses why cash discipline matters more than ever, how founders can successfully transition into the CEO role, and how AI is reshaping the investment landscape.

In this episode, we cover:

• Why founders often underestimate the role of finance

• The transition from founder to CEO — and the red flags that signal leadership risk

• The rise of AI-first startups and what makes them defensible

• The importance of hiring A-players at the right time

• How to think about alternative growth outcomes in today’s market

Whether you're a founder, CFO, or investor, this episode offers strategic insight into the key decisions that shape startup success.