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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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130 How deeptech can insulate investors from AI software concerns with Ilian Iliev of EMV Capital
Episode 130
Tuesday, 10 March, 2026
There are lots of concerns about how AI will affect software companies, but could deeptech give investors some insulation from that? EMV Capital CEO, Ilian Iliev, certainly thinks so. In this episode we examine the challenges that software may be facing and how deeptech is more of a beneficiary.Amongst other topics, we talk about:the current worries about how AI will affect softwarehow robust B2B SaaS could behow AI affects competition for startupshow AI can help scientific innovationexamples of how portfolio companies use AIhow small companies compete with large companies in hardwarehow AI affects IP strategiesexamples of naive IP approachesIlian has been working in this space for a long time and gives great insight into the world of deeptech. Enjoy!00:50 Ilian introduces himself03:15 Change in EMV Capital (EMVC)06:00 What is happening with SaaS and AI10:00 Is B2B SaaS too deeply embedded to replace?14:00 Changes in the dynamics of competition15:45 How far AI can help scientific innovation?19:15 Dangers of increased slop21:30 Examples of how investee companies use AI23:00 Use of AI in patents27:00 Will small companies be able to compete in hardware29:30 How is AI impacting IP strategies33:30 Could AI undermine patent protection?35:50 How valuable is hardware IP?39:10 Examples of a naive approach to IP40:30 favourite questionsLinksEMV Capital website: https://emvcapital.com/EMV Capital on LinkedIn: https://www.linkedin.com/company/emvcapital/Subscribe to the EIS Navigator podcast on most services here: https://the-eis-navigator.captivate.fm/listenSuggested books and mediaTime Shelter by Georgi Gospindov21 Lessons for the 21st Century by Yuval Noah HarariChurchill: Walking with Destiny by Andrew RobertsPolitics On the Edge by Rory StewartBioIlian Iliev, CEO, EMV CapitalIlian founded EMV Capital in 2018. After its acquisition by NetScientific PLC (now EMV Capital PLC), he became group CEO. Previously he co-founded and was CEO of CambridgeIP Ltd, which he built into a leading IP strategy and patent data analytics provider. He also worked as a strategy advisor for various corporate blue chip clients and public policy. Previously he founded and co-led a family business in industrials and electric engineering in Southern Africa. He is a Board member on behalf of the Group at many portfolio companies, including , Glycotest Inc. (Chair), Sofant Technologies, PointGrab, Q-Bot, Martlet Capital, DName-iT, Vortex and Wanda Health. He is a Board member of NASDAQ-listed PDS Biotech Inc.Ilian holds a PhD from Cambridge University’s Judge Business School with a focus on Venture Capital and science commercialisation models; Master’s in Economics and BA Politics, Economics and International Relations from the Witwatersrand University, South Africa. He was an Associate Fellow at Chatham House with a focus on sustainability and renewables. He has authored numerous academic, policy and industry reports.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.
