Episode Overview

Join hosts David Rose and Matt Oxley as they dive deep with Ali Mitchell, founder-turned-VC and Managing Partner at Odyssey Ventures. Ali shares his remarkable journey from DJ to maritime engineering student to serial entrepreneur (including founding Huddle) to becoming a leading VC focused exclusively on helping European founders scale into the US market. This episode is packed with practical insights about the venture capital world, investment decision-making, and why European founders must "get on a plane" to win in America.

Episode Length: ~62 minutes
Published: Wednesday, October 15, 2025
Hosts: David Rose & Matt Oxley (USXP)
Guest: Alastair (Ali) Mitchell, Managing Partner, Odyssey Ventures

Guest Profile

Alastair (Ali) Mitchell is Managing Partner at Odyssey Ventures, a fund exclusively focused on taking ambitious British and European founders into the US and helping them scale globally. A serial entrepreneur turned investor, Ali previously founded Huddle (one of the OG London SaaS startups), spent 10 years in Silicon Valley, and later became a partner at EQT Ventures where he built their US operations and sat on over 120 investment committees. He's backed companies like Handshake and focuses on helping founders avoid the mistakes he made during his own US expansion journey.

Connect with Ali:

• Company: Odyssey Ventures
• LinkedIn: https://www.linkedin.com/in/alimitchell/

Key Discussion Points & Timestamps

Early Entrepreneurial Journey & DJ Days (01:10 - 03:10)

From Maritime Engineering to Serial Founder (03:10 - 07:20)

The Huddle Journey and US Expansion (05:25 - 07:20)

Transition from Founder to VC "Dark Side" (07:20 - 11:00)

The Reality of Being a VC (11:00 - 14:30)

Investment Thesis and Decision Framework (14:30 - 17:00)

The 6T Framework for Evaluation (26:15 - 32:30)

What Founders Get Wrong About VCs (29:00 - 32:30)

VC Decision-Making Process Deep Dive (37:00 - 45:00)

Why US Expansion is Critical (45:15 - 48:50)

Success and Failure Drivers for US Expansion (49:00 - 52:20)

Learning American and Cultural Adaptation (51:15 - 55:40)

Differences Between EU and US Fundraising (57:00 - 61:00)

Key Takeaways

1. Speed is Everything: The ultimate arbiter of success is speed - faster iteration, learning, shipping, and decision-making
2. The 6T Framework: Team, Timing, TAM, Technology, Traction, Tempo - in that order of importance
3. US Expansion is Non-Negotiable: For global markets, winners typically emerge from the US due to capital, talent, and market size
4. Founder Story Matters Most: Early-stage investing is about backing people who can persist through 10+ years of challenges
5. Product Above All: US investors will actually use your product - it must be 10x better, not just better
6. "Get on a Plane": Half-measures don't work; you must physically be in the US to raise from US VCs
7. Avoid the "Hollywood Sales Hire": Don't hire someone who succeeded on top of a machine; hire someone who can build the machine
8. Focus is Critical: Don't try to conquer "the US" - pick one city, one state, one market segment

Ali's Investment Thesis (Odyssey Ventures)

• Stage: Pre-seed and seed (first or second institutional check)
• Geography: UK and European founders
• Focus: Founders wanting to go global starting with the US immediately
• Sectors: AI and automation intersecting with the physical world (materials, health, science, deep tech, energy, transportation)
• Philosophy: "The world doesn't need another CRM with AI on top"

The 6T Investment Framework

1. Team - Incredible technologists who can attract other amazing people
2. Timing - Market timing beats almost everything else
3. TAM - Total Addressable Market (though great founders create new TAM)
4. Technology - Must be 10x better, not just better
5. Traction - Evidence that technology is actually better through user behavior
6. Tempo - Speed of iteration, learning, and execution

VC Decision-Making Insights

• The Numbers Game: VCs see thousands of companies annually but make only 2-3 investments
• First Impressions: Decisions are often made within the first minute of a pitch
• Monday Morning Meetings: Standard weekly partner meetings for pitch evaluation
• Investment Committee (IC): Final decision-making body with formal memos
• Prepared Mind: VCs with sector experience can make faster decisions

US vs European Fundraising Differences

European Approach:

• Path to profitability focus
• Smaller funding rounds
• More conservative growth expectations

US Approach:

• Growth above all else
• Larger funding rounds signal ambition
• Unit economics matter more than company profitability
• Product-led evaluation (VCs will actually use your product)

Resources Mentioned

• Companies: Huddle, Box, Dropbox, Handshake, Neuralink, Figma, Amazon, Uber, Lyft
• Investors/Firms: EQT Ventures, Kleiner Perkins, Mamoon Hamid
• Universities: Southampton University (maritime engineering)
• Locations: Silicon Valley, San Francisco, London, California

About USXP

USXP are the launch to revenue experts European tech scaleup companies count on for successful US expansion. Our Team of experienced operators will lead your company through the entire lifecycle of readiness, launch, and scale in the US market.

Hosts:

• David Rose - LinkedIn | X
• Matt Oxley - LinkedIn

Powered by

This episode is powered by Wilson Sonsini, providing legal counsel for technology companies and growth enterprises.

• Website: wsgr.com

Subscribe & Connect

Subscribe to Scaling Stateside on your favorite podcast platform:

• Apple Podcasts
• Spotify
• Audible

Follow USXP:...