E510 | Emma Steele (Ascension) & Emily Trant (Wagestream): Building ventures where profit and purpose scale together

Welcome to the Impact Highlight series, powered by EUVC, where we bring you the people and perspectives shaping European venture.This week, August is joined by (Partner at ) and (Head of Impact at ), two of the most vocal champions for mission-aligned tech in Europe.In this episode, we explore the nuances of building and backing commercial businesses that generate genuine social value. Emma and Emily reflect on where the commercial model does work for impact, where it doesn’t, and why intent matters as much as outcomes.From designing products that serve vulnerable users to structuring impact advisory boards that challenge you, this is a real look into how impact venture plays out at the fund and founder level.🎯 This Episode’s Themes:What “tech for good” actually looks like in ventureBuilding scalable impact and sustainable returnsHow to think about charity vs commercial modelsWhy intent and design matter more than labelsHow impact boards can go wrong—and how to make them workHere’s what’s covered:00:00 | Meet Emma & Emily: Impact VC meets operating at scale02:30 | What Is “Impact” Anyway? And why Ascension never used the label06:15 | Wagestream’s Model: Serving those who can’t pay—at scale10:00 | Market Failures & Margin Models: Why commercial still wins13:00 | Data That Matters: From savings behavior to sleep quality17:00 | Charity vs Commercial: The tension no one likes to talk about20:15 | Impact Boards: How to make them useful (hint: be honest)24:30 | The Venture Fit: Why scale and impact aren’t opposites28:00 | Calling Future Founders: Be intentional from day one

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