In the latest Seedcamp Deep Dive, our Managing Partner, Carlos Eduardo Espinal, discusses the complexities of investing in deeptech, dual-use and the defence sector. He's joined by two distinguished guests from defence and investment backgrounds: Nicola Sinclair, General Partner at Twin Track Ventures, and Samuel Burrell, Partner at Expeditions Fund.
Nicola begins the conversation by explaining her motivation for founding Twin Track, highlighting the need to connect startups with the defence and security sectors and detailing her approach to evaluating deep tech investments. Sam then discusses his transition from military service to venture capital and emphasizes the importance of understanding end-user needs in defense tech investments.
This insightful conversation covers a wide range of topics, including:
- The challenges of dual-use technologies
- The role of prime contractors
- The evolving geopolitical landscape
- Investment opportunities in space technology
- The future of defence tech investments
Show Notes:
Nicola Sinclair - linkedin.com/in/nicola-sinclair-
Samuel Burrell - linkedin.com/in/samuelrburrell
Carlos Eduardo Espinal - linkedin.com/in/carloseduardoespinal
Twin Track Ventures - twintrack.vc
Expeditions Fund - expeditionsfund.com
Seedcamp - seedcamp.com
Sam’s weekly newsletter This Week in Dual-Use [www.samuelburrell.com]
“Working with Defence & Security” Survey. The results will be released on 14 November 2025
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In the latest Seedcamp Deep Dive, our Managing Partner, Carlos Eduardo Espinal, discusses the complexities of investing in deeptech, dual-use and the defence sector. He's joined by two distinguished guests from defence and investment backgrounds: Nicola Sinclair, General Partner at Twin Track Ventures, and Samuel Burrell, Partner at Expeditions Fund.
Nicola begins the conversation by explaining her motivation for founding Twin Track, highlighting the need to connect startups with the defence and security sectors and detailing her approach to evaluating deep tech investments. Sam then discusses his transition from military service to venture capital and emphasizes the importance of understanding end-user needs in defense tech investments.
This insightful conversation covers a wide range of topics, including:
- The challenges of dual-use technologies
- The role of prime contractors
- The evolving geopolitical landscape
- Investment opportunities in space technology
- The future of defence tech investments
Show Notes:
Nicola Sinclair - linkedin.com/in/nicola-sinclair-
Samuel Burrell - linkedin.com/in/samuelrburrell
Carlos Eduardo Espinal - linkedin.com/in/carloseduardoespinal
Twin Track Ventures - twintrack.vc
Expeditions Fund - expeditionsfund.com
Seedcamp - seedcamp.com
Sam’s weekly newsletter This Week in Dual-Use [www.samuelburrell.com]
“Working with Defence & Security” Survey. The results will be released on 14 November 2025
Building Powerful Growth Engines: A Conversation with Andy Budd
This Much I Know - The Seedcamp Podcast
1 hour 8 minutes 33 seconds
10 months ago
Building Powerful Growth Engines: A Conversation with Andy Budd
In a new episode of 'This Much I Know,' Carlos hosts Andy Budd, a veteran UX/UI designer and one of our venture partners, to discuss his latest book, 'The Growth Equation: How Early Stage Startups Can Build a Powerful Engine for Growth.'
Andy shares his journey from being a tech enthusiast to launching the UK's first UX agency, ClearLeft.
The discussion rich with anecdotes and actionable insights explores key themes to help founders navigate the complexities of startup growth. These include:
founder-led sales;
creating a go-to-market strategy, and the importance of customer retention and onboarding.
He emphasizes practical, incremental approaches to building a customer base, crafting effective sales emails, and leveraging community-driven growth.
Andy advocates for positioning and language-market fit as critical aspects of early-stage success, suggesting that a focused effort on understanding and connecting with the target audience precedes establishing a strong brand.
Show notes:
Andy Budd - linkedin.com/in/andybudd
Carlos Espinal - linkedin.com/in/carloseduardoespinal
Seedcamp - seedcamp.com
Andy Budd - andybudd.com/book
The Growth Equation: How Early Stage Startups Can Build a Powerful Engine for Growth by Andy Budd is available in bookstores and online.
This Much I Know - The Seedcamp Podcast
In the latest Seedcamp Deep Dive, our Managing Partner, Carlos Eduardo Espinal, discusses the complexities of investing in deeptech, dual-use and the defence sector. He's joined by two distinguished guests from defence and investment backgrounds: Nicola Sinclair, General Partner at Twin Track Ventures, and Samuel Burrell, Partner at Expeditions Fund.
Nicola begins the conversation by explaining her motivation for founding Twin Track, highlighting the need to connect startups with the defence and security sectors and detailing her approach to evaluating deep tech investments. Sam then discusses his transition from military service to venture capital and emphasizes the importance of understanding end-user needs in defense tech investments.
This insightful conversation covers a wide range of topics, including:
- The challenges of dual-use technologies
- The role of prime contractors
- The evolving geopolitical landscape
- Investment opportunities in space technology
- The future of defence tech investments
Show Notes:
Nicola Sinclair - linkedin.com/in/nicola-sinclair-
Samuel Burrell - linkedin.com/in/samuelrburrell
Carlos Eduardo Espinal - linkedin.com/in/carloseduardoespinal
Twin Track Ventures - twintrack.vc
Expeditions Fund - expeditionsfund.com
Seedcamp - seedcamp.com
Sam’s weekly newsletter This Week in Dual-Use [www.samuelburrell.com]
“Working with Defence & Security” Survey. The results will be released on 14 November 2025