Jos White on Building & Investing in European SaaS

Jan de Vries · 2026-07-02

In a recent conversation on the EU-Startups podcast, we sat down with Jos White, co-founder of Notion Capital and a serial entrepreneur. He's the kind of person who's been in the trenches—building companies like Star and MessageLabs from the ground up—and now he's betting on the next wave of European B2B SaaS and cloud startups. Jos opened up about the lessons he learned around his family dining table, the moments that shifted his entire path, and what it really takes to spot a founder who's going to change the game. It's not just about the pitch deck or the metrics. It's about something deeper. ### The Early Conversations That Shape Everything Jos shared how some of his earliest entrepreneurial conversations—often over dinner with family—planted seeds that grew into a lifelong mindset. Those talks weren't about business plans or funding rounds. They were about ambition, curiosity, and the belief that you could build something from nothing. That foundation matters. Because when you're starting out, you don't have a track record. You have a hunch and a willingness to learn. Jos's story reminds us that the best ideas often start in ordinary places—not in boardrooms or incubators. ### Recognizing the Pivot Points One of the most valuable parts of the conversation was Jos's take on knowing when your idea is gaining real traction. It's not just about revenue or user numbers. It's about that moment when the market starts pulling you forward. When customers are coming to you, not the other way around. Jos calls these "pivot points"—and they're often subtle. Maybe it's a single conversation that opens a new door. Maybe it's a competitor dropping out. The key is to stay alert and be ready to shift direction when the signal is clear. ### Why Founder Experience Matters for VCs Jos believes that firsthand entrepreneurial experience gives VCs a unique edge. It's one thing to analyze a balance sheet. It's another to have felt the pressure of making payroll or the thrill of closing your first big deal. > "You can't teach resilience. You can only live it." That empathy helps Notion Capital's partners connect with founders on a human level. They know what it's like to be in the trenches, and that makes their advice more practical, more grounded. ### The Intangible Traits of Exceptional Founders Beyond the metrics and the pitch decks, Jos looks for something harder to define. It's a mix of grit, curiosity, and a willingness to be wrong. He calls it "founder-market fit"—not just product-market fit. - **Obsessive learning:** The best founders never stop asking questions. - **Humility:** They know what they don't know and hire for it. - **Long-term thinking:** They build for years, not quarters. These traits are hard to fake. And they're often what separates a good company from a great one. ### How the Founder Landscape Has Evolved Since 2009 Since 2009, the European startup scene has transformed. Back then, it was harder to raise money, and founders were more cautious. Today, there's more capital, more support, and a growing ecosystem of mentors and networks. But Jos also sees new blind spots. With the rise of AI, some founders lean too heavily on technology and forget the human element. The best products still solve real problems for real people—and that requires empathy, not just algorithms. ### European vs. American Founders: Key Differences Jos has invested on both sides of the Atlantic, and he sees clear differences. American founders tend to think bigger faster. They're more comfortable with failure and more aggressive in their growth targets. European founders, on the other hand, often build more sustainably. They're more methodical, more capital-efficient, and more focused on unit economics. Neither approach is better—but understanding the difference helps investors and founders align expectations. ### Final Thoughts Jos White's journey from entrepreneur to VC is a masterclass in learning, adapting, and staying curious. Whether you're building your first startup or your fifth, his insights offer a roadmap for navigating the messy, rewarding world of European tech. If you want to hear the full conversation, check out the EU-Startups podcast. It's worth the listen.