A component carrier includes i) a first layer stack having a first electrically conductive layer structure and/or at least one first electrically insulating layer structure, ii) a component embedded in the first layer stack, iii) a second layer stack having at least one second electrically conductive layer structure and/or at least one second electrically insulating layer structure, and iv) a thermally conductive block embedded in the second layer stack. Hereby, the first layer stack and the second layer stack are connected with each other so that a thermal path from the embedded component via the thermally conductive block up to an exterior surface of the component carrier has a minimum thermal conductivity of at least 7 W/mK, in particular at least 40 W/mK. Further, a method of manufacturing the component carrier is described.