A component carrier includes a stack having at least one electrically insulating layer structure and/or at least one electrically conductive layer structure; a heat removing and electrically conductive base structure; a component which is connected to the base structure so as to at least partially protrude from the base structure and so as to be laterally at least partially covered by an electrically insulating material of the stack; and an electrically conductive top structure on or above a top main surface of the component. A method of manufacturing such a component carrier is disclosed.