Europe's startup scene is having a moment, with European unicorns multiplying and American VCs setting up shop across the pond. But while European funding dominates the early stages, late-stage capital still flows primarily from the U.S. So what does this mean for European founders, and how is the continent carving out its own identity in an increasingly AI-driven world?

Today on Equity, we were joined by Shamillah Bankiya, newly appointed Partner at Dawn Capital, to talk through it all. She and Dominic-Madori Davis discuss AI's impact on European startups, the regulatory landscape, and her journey from Uganda to venture capital.

Listen to the full episode to hear about:

• Why European companies still IPO in the U.S. and what needs to change

• Bankiya’s marketplace startup and lessons for founders

• Whether businesses actually need venture funding (spoiler: not all do)

• Why American investors are suddenly flocking to Europe

• The EU AI Act and its real impact on startups

• Talent retention challenges and which founders are choosing to stay in Europe versus relocating to Silicon Valley

Equity will be back Friday with our weekly news roundup, so stay tuned.

Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.

Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.

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