In the intricate balancing act of running a startup, managing risks often feels like trying to guide a ship through treacherous waters. As an entrepreneur passionate about empowering women in business and technology, I’ve seen firsthand how understanding and applying structured risk management in your portfolio can mean the difference between navigating challenges or capsizing. Recently, I stumbled upon a fascinating discussion featuring some of Europe’s top investors who revealed how they manage portfolio risk, offering insights that I believe every startup founder can learn from.
Let’s unpack their strategies and apply them to our entrepreneurial journeys.
How Europe’s Leading Investors Tackle Risk
In November 2025, at the Venture Intelligence Day conference hosted by Vestberry, I had the chance to attend an enlightening panel discussion titled “Portfolio Risk Management Strategies.” Moderated by Ege Agca from Metis Ventures, the panelists, representing organizations like EnBW New Ventures, Earlybird, Energy Revolution Ventures, and the European Investment Bank (EIB), shared their diverse approaches to managing risk.
Here are the key takeaways:
1. Seize the Power of Data-Driven Decisions
- Philipp Spenger, speaking for the EIC Fund within the EIB, reflected on the transformational use of real-time data to monitor and assess investments. Their active monitoring includes tracking cap tables, scrutinizing shareholder changes, and analyzing sector trends all through advanced software.
- For entrepreneurs, this emphasizes the value of utilizing tools like portfolio analytics platforms right from the start. Monitoring financial health and performance metrics is non-negotiable.
How to Start: Tools like Vestberry or other digital dashboards allow visualization of growth, company milestones, and risk exposure even at an early stage. If you’re a first-time founder without access to such high-tech solutions, start with simple spreadsheets but keep them religiously updated.
2. Don’t Fall in Love with Every Idea
- Jochen Küst, CFO of Earlybird, emphasized the importance of swift identification of underperformers and maintaining exit discipline. According to him, transparency and objectivity, ensured by processes like having an exit committee, help protect financial returns and investor trust.
- This rings particularly true for busy entrepreneurs. Our ideas often feel like our babies, but it’s critical to practice discernment and know when to pivot, cut losses, or say goodbye.
A Quick Tip: Collaborate with a trusted mentor or business group to evaluate performance and make data-backed decisions. Emotional bias can cloud your judgment, so having outside perspectives is critical.
3. Strategic Alignment Isn’t Optional
- For corporate venture capital outfits like EnBW New Ventures, represented by Erik Vobis, portfolio risk isn’t just about financial returns. By focusing on the synergy (yes, I said it, aligning is banned!) between startup innovation and EnBW’s future infrastructure needs, they manage to de-risk investments through strategic and operational fit.
- For startup founders, this invites reflection: aligning your product with a larger partner’s long-term goals can provide you with a solid runway and an opportunity to grow sustainably.
Lesson for Founders: Ask yourself, “Which strategic partnerships or anchor clients align with our mission?” Not every investor or client will fit your bigger picture, so choose carefully.
4. Address Special Industry Risks Early
- Deep tech and energy-focused Energy Revolution Ventures stand out in tackling complex risks. Principal Philippos Pouroullis spoke about monitoring commodity price fluctuation (like lithium) and unpredictable policy changes that can derail a business model overnight.
- Their approach highlights the importance of sector-specific risk awareness. For founders in industries like renewable energy or tech manufacturing, this lesson underscores how crucial it is to consider external market shocks while building a business.
Actionable Insight: If your business revolves around physical goods or energy solutions, regularly follow relevant economic indicators. Set up automated alerts for industry news so you’re not blindsided.
Mistakes to Dodge as a Female Entrepreneur
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Failure to Spot High-Risk Ventures Early:
Top investors know when to step back from companies that show declining potential, yet many founders double down on bad calls. This is natural, your startup feels personal, but it’s a risk if logic takes a backseat to emotion. -
Overlooking Strategic Goals:
Not every partner, investor, or client will serve you in the long run. Be vigilant about committing your finite resources to relationships or contracts that don’t contribute to your broader agenda. -
Ignoring Geopolitical and Market Shifts:
The EIB’s focus on European autonomy serves as a reminder to always consider external forces like regulations and global supply chain challenges.
Lessons from the Panel for Women in European Startups
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Do Your Homework: Investors demand clarity on every aspect of your operational and financial health. If you think you’ve prepared enough, prepare even deeper.
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Play Long-Term Games with Long-Term People: Whether it’s partnerships or funding sources, aim for those who think strategically and see value in your mission beyond just numbers.
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Leverage Technology Where You Can: Thanks to digital tools, even bootstrapped startups (trust me, I’ve been there) can track risks better than ever before.
A Quick How-To Guide for Managing Risk in Your Startup
- Begin with streamlining your finances. Use accounting software to manage income, expenses, and projections.
- Identify and rank risks by likelihood and impact, legal disputes, cash shortages, or regulatory challenges. Create contingency plans for the top three threats.
- Establish tools for ongoing monitoring, even if they’re manual or basic initially. Accurate data reduces uncertainty.
- Continuously educate yourself. Whether it’s geopolitical issues, marketing trends, or financial reporting, make learning a lifelong habit.
In Closing
Female founders bring a fresh perspective to European entrepreneurship. Yet, navigating the world of venture and risk is no small feat. The panel at Vestberry’s conference offered rich lessons, but what struck me most is how much of a game-changing moment this can be for women entrepreneurs.
With the likes of the EIB, Earlybird, EnBW, and Energy Revolution Ventures showing structured ways to manage risks, there’s a clear takeaway for us: data, discipline, and strategic alignment are the cornerstones of resilience. Whether bootstrapping or scaling, these principles are your compass.
And if you’re feeling stuck, remember this: whenever the winds shift, skilled sailors adjust their sails to steady the ship. Keep going.
FAQ
1. What were the main insights from the Venture Intelligence Day panel discussion on portfolio risk management?
The panel highlighted evolving risk management strategies, including data-driven decisions, quick identification of underperformers, strategic alignment, and addressing specific industry risks early. Explore the Venture Risk Management panel
2. How does the European Investment Bank's EIC Fund manage risk in its portfolio?
The EIC Fund employs real-time monitoring tools for tracking cap tables and sector trends, and aligns investments with European strategic autonomy goals while leveraging public-private partnerships. Learn about EIC Fund's risk management approach
3. What is Earlybird's strategy for identifying and managing underperformers?
Earlybird prioritizes swift identification of failing ventures to protect the fund's returns, relying on KPIs, benchmarking tools, and an exit committee for objective decision-making. Discover Earlybird’s risk management strategies
4. How does EnBW New Ventures align its risk management with strategic goals?
EnBW New Ventures scores startups for strategic value based on synergy with its parent company's operations while balancing this with financial returns. Explore EnBW New Ventures' strategic alignment
5. What are the unique risks addressed by Energy Revolution Ventures?
Energy Revolution Ventures focuses on deep-tech risks, such as commodity price volatility and policy changes, while emphasizing sector-specific transparency and deep technical due diligence. Learn about ERV’s industry-specific risk management
6. How has risk management evolved in European venture capital?
Risk management has shifted from compliance-focused tasks to becoming a core strategic element, powered by data transparency and real-time tools like portfolio dashboards. Discover trends in European venture capital risk
7. What tools are recommended for startups to manage financial risk?
Startups can start with simple spreadsheets and progress to platforms like Vestberry, which offer comprehensive portfolio and financial analytics. Read about data-driven tools for startups
8. Why is strategic alignment crucial for startup founders?
Strategic alignment ensures that partnerships, investors, and anchor clients align with the startup's long-term vision, offering sustainability and growth opportunities. Explore strategic alignment for startups
9. What advice did the panel offer to female entrepreneurs?
Female entrepreneurs should prioritize data transparency, prepare extensively, and seek long-term partnerships that align with their mission. See advice for women in startups
10. What lessons did the panel provide on leveraging technology in startups?
Utilizing digital tools from the beginning is vital for tracking growth, milestones, and risks. Even basic setups can help reduce uncertainties and improve decision-making. Discover how startups can leverage technology
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
