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The EIS NavigatorHelping investors and entrepreneurs understand the UK venture capital industry, EIS, SEIS & VCTs Author: Brian Moretta, Hardman & Co
For those interested in the venture capital, particularly in the UK and investors through the Enterprise Investment Scheme, EIS, Seed Enterprise Investment Scheme, or SEIS, and Venture Capital Trusts. Guests are leading people in the industry, whether fund managers, company founders or experts from other service providers. The aim is to dig deeply into topics, getting away from the promotional material that predominates elsewhere. Venture capital investing is a long-term endeavour and we will focus on topics that are relevant at any time. New episodes come out every two weeks (although we do take holidays!) Your host, Brian Moretta, is Head of Tax Advantaged Services at Hardman & Co. The latter supplies independent research in the industry and he has examined many EIS funds, VCTs and companies. His background is an actuary turned fund manager who then moved into equity research. He also has some academic chops, being an Honorary Fellow at Heriot-Watt University where he does some lecturing. He has always had a strong interest in getting underneath companies, getting beyond the superficial and understanding how they really work and finds this space fascinating. Some of this is because transparency is hard, some because the industry is not well understood. This podcast is an attempt to shine a bit more light on what is going on. Every episode has show notes at https://hardmanandco.com/podcast. If you want to contact us or give feedback, whether about the podcast or anything else you can email us at enquiries@hardmanandco.com. Any feedback from listeners is welcome as well as suggestions for future guests. We really hope you enjoy the podcast! Language: en Genres: Business, Entrepreneurship, Investing Contact email: Get it Feed URL: Get it iTunes ID: Get it Trailer: |
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131 Using AI and YouTube in a VC investment process with Johnathan Matlock of Empirical Ventures
Episode 131
Tuesday, 24 March, 2026
For a business that looks so much at technology, venture capital is often poor in applying it. How should they use AI? Empirical Ventures has already embedded it into their investment process, so we asked Co-founder and General Partner Johnathan Matlock to tell us about what they are doing. We also discussed their approach to deeptech investing.Amongst other topics, we talk about:using AI in an investment processhow well AI works in niche areaskeeping the focus on real peopleusing a YouTube channel with millions of subscriberswhat a venture scientist isthe value of execution over ideasgetting the right founderfiltering our weak opportunitiesJohnathan and Empirical have been thoughtful about their investment process, including using AI, so there's lots of insights into effective investing. Enjoy!00:50 Johnathan introduces himself05:00 how angel investing developed into Empirical Ventures07:45 what Empirical Ventures does09:00 what is a venture scientist?16:30 getting the right founder18:30 talent scouting in pools of PhD talent22:00 value in execution not ideas26:00 challenges in getting good feedback27:30 using AI in investment process32:00 how well Ai works in niche areas35:00 keeping the focus on the real people38:30 how far can the use of AI go in venture capital?41:30 using a successful Youtube channel43:00 filtering out weak opportunities46:00 using YouTube to help existing portfolio companies50:00 favourite questionsLinksEmpirical Ventures website: https://www.empiricalventures.vc/Subscribe to the EIS Navigator podcast on most services here: https://the-eis-navigator.captivate.fm/listenSuggested books and mediaClear Thinking: The Art and Science of Making Better Decisions by Shane ParrishBioJohnathan Matlock, Co-founder and General Partner, Empirical VenturesWith a PhD in Organic Chemistry and 15 years at the intersection of science, entrepreneurship, and capital, Johnathan helps build and back technologies that define the next century, focused on Atoms > Bits.InvestorHe is Co-Founder and General Partner at Empirical Ventures, a UK-based DeepTech fund backing entrepreneurial scientists at pre-seed and seed.-- > £20m AUM | 25 portfolio companies | Top decile TVPI (2022 vintage)-- > Secured £5m from the British Business Bank as a Regional Angel Programme delivery partnerPortfolio companies have raised £30m in follow-on capital to date, employee 200 people and have an collective enterprise value of £200m (Nov 2025).Beyond the fund, he has built a 50-company angel portfolio across DeepTech and Life Sciences and made 5 LP commitments to next-generation VC funds.OperatorPrior to founding Empirical Ventures, he was employee #7 and inventor on the patent behind Ziylo, a University of Bristol spin-out developing a glucose-sensitive insulin, that was acquired by Novo Nordisk for £623m (2018). The largest exit for a University spin-out via acquisition until 2025 (Organox).In 2024, he co-founded Tru Fit Training UK, a small-group training facility and have currently scaled this business to £250k annual revenue and 140 members (Nov 2025).He also founded Tru Fit Asset Management in 2024, a commercial property investment business in Bedfordshire that owns 2 x 4,200 sq ft facilities. Built and developed one of those barns with completion in 2025.Scientist-- > Published 11 papers, inventor on 4 patents, 5 academic awards-- > Chartered Chemist (CChem), Royal Society of ChemistryDriven by a belief that scientific discovery and entrepreneurial drive is the greatest lever for human progress, he now focuses on enabling the next generation of scientist-founders to translate breakthrough research into globally impactful companies.DisclaimerPlease note this podcast/interview does not constitute a financial promotion and is provided for informational purposes and should not be construed as an invitation or offer to buy or sell any investments. Please be aware that investments into unquoted companies are high risk, long term and illiquid investments. Your capital is at risk. Past performance is not a reliable indicator of future performance. Target returns are not guaranteed and forward looking statements are illustrative only and must not be relied upon. Investors should only invest on the basis of reading the full offer documentation.
