Фонд #F37
#active #b2c #b2b #seed #seriesA #USD250k #USD1m
1) How many deals do you plan to make?
7-8 per year.
2) Out of 100 decks how many projects do you invest in?
I believe about one in ten startups that come into the funnel end up interesting enough to be added to our deal flow form. And of almost 500 items on our deal flow, we've done 20 deals, so it's about a 1 in 25 on the targetted dealflow list and 0,4% of the initial funnel.
3) What is the average check size?
With Fund I, we were placing $100K-$150K per first check. With Fund II, it's larger checks - $250K-$1M.
4) Which stages are you looking at?
Seed stage with 50k+ MRR, through Series A. We're not opposed to being a first check though. Every situation is different and we're opportunistic.
5) What industries, geography?
Looking for projects globally. #global
Initially specialized on projects which have #Media angle, and have extended the scope to #AI, #Blockchain, #VR, #Robotics, #Social and #Gamification.
6) Are you ready to be a lead investor?
Given the right situation, yes.
7) Where did the projects you invested in come from?
From network in the media industry, accelerators, incubators, other VCs.
8) What percentage of investments are in projects that came through cold messages/emails?
It only happened once. We read cold emails regularly in order not to miss something interesting, but their priority is super lower.
9) What accelerators or startup conferences do you follow/attend?
Examples of accelerators: Techstars Music, Gener8tor, Abbey Road Red, Create-X.
We do not usually attend broad industry or startup conferences. We like participating in online demo-days to scout for new opportunities.
10) What should be in the presentation to pass initial review?
a) Clear communication of the business model and the value proposition for customers.
b) Financials and metrics - real numbers, not weird percentages.
c) PMF description. Ideally we would like to see detailed description of use cases with first clients in order to "sense" the PMF.
d) Basic SWOT analysis.
11) What return on investment do you expect from the projects?
10x or more, thus not only potential unicorns are of interest.
We expect founders to show pragmatism about their market sector. Given the right pricing, founders and investors can make sizable returns without hitting unicorn status.
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
No strict rules - FB and Amazon are examples of 1st time solo founders - we do not want to miss the next big thing. Yet clearly being a serial founder is a strong competitive edge in the market.
13) What "unfair advantage" in projects are you looking for?
It should be something defensible - patent, unique dataset, technology, business model which is hard to copy. If there is a little barrier to entry, a business is hard to defend, and any idea worthwhile pursuing will see large competition come in. So having a "moat" to win with is important - technical or operational.
#active #b2c #b2b #seed #seriesA #USD250k #USD1m
1) How many deals do you plan to make?
7-8 per year.
2) Out of 100 decks how many projects do you invest in?
I believe about one in ten startups that come into the funnel end up interesting enough to be added to our deal flow form. And of almost 500 items on our deal flow, we've done 20 deals, so it's about a 1 in 25 on the targetted dealflow list and 0,4% of the initial funnel.
3) What is the average check size?
With Fund I, we were placing $100K-$150K per first check. With Fund II, it's larger checks - $250K-$1M.
4) Which stages are you looking at?
Seed stage with 50k+ MRR, through Series A. We're not opposed to being a first check though. Every situation is different and we're opportunistic.
5) What industries, geography?
Looking for projects globally. #global
Initially specialized on projects which have #Media angle, and have extended the scope to #AI, #Blockchain, #VR, #Robotics, #Social and #Gamification.
6) Are you ready to be a lead investor?
Given the right situation, yes.
7) Where did the projects you invested in come from?
From network in the media industry, accelerators, incubators, other VCs.
8) What percentage of investments are in projects that came through cold messages/emails?
It only happened once. We read cold emails regularly in order not to miss something interesting, but their priority is super lower.
9) What accelerators or startup conferences do you follow/attend?
Examples of accelerators: Techstars Music, Gener8tor, Abbey Road Red, Create-X.
We do not usually attend broad industry or startup conferences. We like participating in online demo-days to scout for new opportunities.
10) What should be in the presentation to pass initial review?
a) Clear communication of the business model and the value proposition for customers.
b) Financials and metrics - real numbers, not weird percentages.
c) PMF description. Ideally we would like to see detailed description of use cases with first clients in order to "sense" the PMF.
d) Basic SWOT analysis.
11) What return on investment do you expect from the projects?
10x or more, thus not only potential unicorns are of interest.
We expect founders to show pragmatism about their market sector. Given the right pricing, founders and investors can make sizable returns without hitting unicorn status.
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
No strict rules - FB and Amazon are examples of 1st time solo founders - we do not want to miss the next big thing. Yet clearly being a serial founder is a strong competitive edge in the market.
13) What "unfair advantage" in projects are you looking for?
It should be something defensible - patent, unique dataset, technology, business model which is hard to copy. If there is a little barrier to entry, a business is hard to defend, and any idea worthwhile pursuing will see large competition come in. So having a "moat" to win with is important - technical or operational.
👍1
Fund #F38
#active #b2c #b2b #seed #seriesA #USD1m #USD10m
1) How many deals do you plan to make?
Our target is about 10 deals per year.
2) Out of 100 decks how many projects do you invest in?
We do not count; it depends on the manager's strategy. Some managers prefer to have wide funnels, while others prefer a more concentrated approach.
3) What is the average check size?
We would like to have at least 10% ownership in a company. We are ready to invest up to $10m during the first round and support the project in subsequent rounds.
4) Which stages are you looking at?
Seed (post-revenue, strong indication of PMF, ideally $50–100k MRR), Series A (strong traction).
5) What industries, geography?
We are #agnostic in terms of industries. Most often, we look at #FinTech, #SaaS, and #AI (mostly infrastructure), but we can consider #B2C projects as well.
Exceptions: we do not invest in defense, biotech, or some niche deeptech projects where we do not have expertise.
Geographically, we are looking at founders from Europe and Israel with global ambitions. #developed
6) Are you ready to be a lead investor?
Yes, we lead in the majority of cases and prefer to be active participants in a startup’s life. We take a board seat and help companies with go-to-market, hiring, and fundraising.
7) Where did the projects you invested in come from?
Mostly from our partners' network (other funds and founders). Currently, we mostly reach out to projects ourselves using an outbound approach.
8) What percentage of investments are in projects that came through cold messages/emails?
We have not had such cases. We read cold emails, but the quality of projects is usually low.
9) What accelerators or startup conferences do you follow/attend?
We do not usually follow accelerators, since the competition is too high. At conferences, we mostly interact with other VC funds.
10) What should be in the presentation to pass initial review?
We are primarily looking for strong signals of early PMF. If we tick that box, we then look at the usual factors, such as market size, team, and revenue growth rate.
11) What return on investment do you expect from the projects?
We would like each project to have the potential to become a unicorn so that our 10% stake could be valued at $100m. If we invest at a $15–20m valuation, this implies a target return of 50–60x on our first check.
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
No strict rules.
13) What "unfair advantage" in projects are you looking for?
It is always beneficial if a project has some moats, but we are not specifically looking for future monopolies. Sometimes a market can be so large that several unicorns can easily coexist.
#active #b2c #b2b #seed #seriesA #USD1m #USD10m
1) How many deals do you plan to make?
Our target is about 10 deals per year.
2) Out of 100 decks how many projects do you invest in?
We do not count; it depends on the manager's strategy. Some managers prefer to have wide funnels, while others prefer a more concentrated approach.
3) What is the average check size?
We would like to have at least 10% ownership in a company. We are ready to invest up to $10m during the first round and support the project in subsequent rounds.
4) Which stages are you looking at?
Seed (post-revenue, strong indication of PMF, ideally $50–100k MRR), Series A (strong traction).
5) What industries, geography?
We are #agnostic in terms of industries. Most often, we look at #FinTech, #SaaS, and #AI (mostly infrastructure), but we can consider #B2C projects as well.
Exceptions: we do not invest in defense, biotech, or some niche deeptech projects where we do not have expertise.
Geographically, we are looking at founders from Europe and Israel with global ambitions. #developed
6) Are you ready to be a lead investor?
Yes, we lead in the majority of cases and prefer to be active participants in a startup’s life. We take a board seat and help companies with go-to-market, hiring, and fundraising.
7) Where did the projects you invested in come from?
Mostly from our partners' network (other funds and founders). Currently, we mostly reach out to projects ourselves using an outbound approach.
8) What percentage of investments are in projects that came through cold messages/emails?
We have not had such cases. We read cold emails, but the quality of projects is usually low.
9) What accelerators or startup conferences do you follow/attend?
We do not usually follow accelerators, since the competition is too high. At conferences, we mostly interact with other VC funds.
10) What should be in the presentation to pass initial review?
We are primarily looking for strong signals of early PMF. If we tick that box, we then look at the usual factors, such as market size, team, and revenue growth rate.
11) What return on investment do you expect from the projects?
We would like each project to have the potential to become a unicorn so that our 10% stake could be valued at $100m. If we invest at a $15–20m valuation, this implies a target return of 50–60x on our first check.
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
No strict rules.
13) What "unfair advantage" in projects are you looking for?
It is always beneficial if a project has some moats, but we are not specifically looking for future monopolies. Sometimes a market can be so large that several unicorns can easily coexist.
👍2
Fund #F39
#active #b2c #b2b #seriesA #USD300k #USD500k
1) How many deals do you plan to make?
6–7 per year.
2) How many projects do you review?
Carefully review about 10 decks per month that meet our formal criteria.
3) What is your average check size?
$300–500k.
4) What stage do you invest in?
Pre-seed / Seed, sometimes at the idea stage.
5) Which industries and geographies?
IT projects in global markets (#global), in complementary sectors: #Dating, #B2C, #AI, #Entertainment.
Examples: AI content, text-to-speech, virtual assistants.
6) Are you ready to be a lead investor?
Possibly.
7) Where did the projects you invested in come from?
Mainly through other funds or personal networks.
8) What percentage of investments came from cold messages/emails?
Cold messages are read, and sometimes such projects are considered, but we have never invested this way because the quality is usually lower.
9) Which accelerators/startup conferences do you follow?
Actively participate in conferences: TechCrunch, WebSummit, Slush.
Accelerators are mostly not followed by us, as there are few projects in our focus industries. Exception: "What if Ventures" accelerator for mental health startups.
10) What should a pitch deck contain to pass initial screening?
- Product (how well it fits our focus)
- Market (significant niche size in which the project operates)
- Background of founders
11) What returns do you expect from investments?
10x+.
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
Founders should have prior exits; 1 or 2 founders is not critical.
13) What kind of “unfair advantage” do you look for in projects?
Focus on competitive advantages, looking for projects that show strong organic growth for some reason.
#active #b2c #b2b #seriesA #USD300k #USD500k
1) How many deals do you plan to make?
6–7 per year.
2) How many projects do you review?
Carefully review about 10 decks per month that meet our formal criteria.
3) What is your average check size?
$300–500k.
4) What stage do you invest in?
Pre-seed / Seed, sometimes at the idea stage.
5) Which industries and geographies?
IT projects in global markets (#global), in complementary sectors: #Dating, #B2C, #AI, #Entertainment.
Examples: AI content, text-to-speech, virtual assistants.
6) Are you ready to be a lead investor?
Possibly.
7) Where did the projects you invested in come from?
Mainly through other funds or personal networks.
8) What percentage of investments came from cold messages/emails?
Cold messages are read, and sometimes such projects are considered, but we have never invested this way because the quality is usually lower.
9) Which accelerators/startup conferences do you follow?
Actively participate in conferences: TechCrunch, WebSummit, Slush.
Accelerators are mostly not followed by us, as there are few projects in our focus industries. Exception: "What if Ventures" accelerator for mental health startups.
10) What should a pitch deck contain to pass initial screening?
- Product (how well it fits our focus)
- Market (significant niche size in which the project operates)
- Background of founders
11) What returns do you expect from investments?
10x+.
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
Founders should have prior exits; 1 or 2 founders is not critical.
13) What kind of “unfair advantage” do you look for in projects?
Focus on competitive advantages, looking for projects that show strong organic growth for some reason.
👍3
Fund #F40
#active #b2c #b2b #seed #USD2m
1) How many deals do you plan to make?
Around 5 per year.
2) Out of 100 decks, how many projects do you invest in?
We have a mix of outbound and inbound deal flow. Although only 30% of our top-of-funnel opportunities come through inbound referrals, they account for around 90% of the deals we ultimately invest in. Overall, we review hundreds of opportunities each year, but the conversion rate for referred deals is significantly higher.
3) What is the average check size?
$2m.
4) Which stages are you looking at?
Pre-Seed and Seed.
5) What industries, geography?
We are generally an #agnostic fund, but prefer to invest in #AI #B2B #Infrastructure (rather than the application layer) in uncapped markets (i.e. markets that are not limited to a specific country or niche), primarily in Europe (#developed). We may also invest in consumer social or subscription businesses, although these are more of a wildcard. We do not invest in Web3 or deeptech projects.
6) Are you ready to be a lead investor?
Yes. We lead around 90% of our investments.
7) Where did the projects you invested in come from?
70% outbound sourcing and 30% inbound referrals (of which roughly 70% come from funds and 30% from founders).
8) What percentage of investments are in projects that came through cold messages/emails?
We do not read them.
9) What accelerators or startup conferences do you follow/attend?
We follow several accelerators, including Entrepreneurs First, YC, Fr8 (Helsinki), and the Thiel Fellowship.
10) What should be in the presentation to pass initial review?
- Founder profile (80%)
- Why now?
- How big if true? (uncapped market)
- Is it a contrarian or consensus opportunity?
11) What return on investment do you expect from the projects?
We look for potential fund returners (30–40x).
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
We only invest in young founders (18–25) with strong technical backgrounds (coding experience) and exceptional founder–market fit. We want to understand their motivation, and we are not afraid of outliers who are passionate about solving major problems and building something truly massive.
13) What "unfair advantage" in projects are you looking for?
At the Pre-Seed and Seed stages, we care more about the founder's profile.
#active #b2c #b2b #seed #USD2m
1) How many deals do you plan to make?
Around 5 per year.
2) Out of 100 decks, how many projects do you invest in?
We have a mix of outbound and inbound deal flow. Although only 30% of our top-of-funnel opportunities come through inbound referrals, they account for around 90% of the deals we ultimately invest in. Overall, we review hundreds of opportunities each year, but the conversion rate for referred deals is significantly higher.
3) What is the average check size?
$2m.
4) Which stages are you looking at?
Pre-Seed and Seed.
5) What industries, geography?
We are generally an #agnostic fund, but prefer to invest in #AI #B2B #Infrastructure (rather than the application layer) in uncapped markets (i.e. markets that are not limited to a specific country or niche), primarily in Europe (#developed). We may also invest in consumer social or subscription businesses, although these are more of a wildcard. We do not invest in Web3 or deeptech projects.
6) Are you ready to be a lead investor?
Yes. We lead around 90% of our investments.
7) Where did the projects you invested in come from?
70% outbound sourcing and 30% inbound referrals (of which roughly 70% come from funds and 30% from founders).
8) What percentage of investments are in projects that came through cold messages/emails?
We do not read them.
9) What accelerators or startup conferences do you follow/attend?
We follow several accelerators, including Entrepreneurs First, YC, Fr8 (Helsinki), and the Thiel Fellowship.
10) What should be in the presentation to pass initial review?
- Founder profile (80%)
- Why now?
- How big if true? (uncapped market)
- Is it a contrarian or consensus opportunity?
11) What return on investment do you expect from the projects?
We look for potential fund returners (30–40x).
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
We only invest in young founders (18–25) with strong technical backgrounds (coding experience) and exceptional founder–market fit. We want to understand their motivation, and we are not afraid of outliers who are passionate about solving major problems and building something truly massive.
13) What "unfair advantage" in projects are you looking for?
At the Pre-Seed and Seed stages, we care more about the founder's profile.
👍1
Fund #F41
#active #b2b #seed #USD300k
1) How many deals do you plan to make?
5–7 per year.
2) How many projects do you review?
To make 1 investment, we review roughly 20–30 pitch decks.
3) What is your average check size?
$300k.
4) What stage do you invest in?
Early stage, but there must already be a working product and initial traction with customers. We like to invest before specialized funds enter, but it’s preferable if they have already started negotiations.
5) Which industries and geographies?
Geographies: US, Israel, Asia, Europe, Africa, MENA (#global)
Industries: mostly #B2B, #agnostic except Fintech. Most interesting: #Foodtech, #Medtech, #Pharmtech, #AI, #Deeptech, #SaaS, #Software, #Climate, #Mobility, #Construction.
6) Are you ready to be a lead investor?
Usually we join existing rounds, but leading is not excluded.
7) Where did the projects you invested in come from?
Through fund networks, investment intermediaries, other founders, and business school communities.
8) What percentage of investments came from cold messages/emails?
We’ve reviewed such projects but never invested in them due to low quality. Cold emails are read, but have very low priority.
9) Which accelerators/startup conferences do you follow?
We don’t track accelerators directly. We work mostly with funds that follow accelerators and provide projects. We attend conferences occasionally, mainly in Israel.
10) What should a pitch deck contain to pass initial screening?
- Clear description of the business model, how value is created and protected
- Evidence of traction and sales, and how these correspond to the valuation
11) What returns do you expect from investments?
Minimum 5x.
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
The founder must have prior successful business experience.
Solo founders are fine if they have a strong supporting team.
13) What kind of “unfair advantage” do you look for in projects?
We don’t usually use this term. We focus more on the project’s ability to create and capture value.
#active #b2b #seed #USD300k
1) How many deals do you plan to make?
5–7 per year.
2) How many projects do you review?
To make 1 investment, we review roughly 20–30 pitch decks.
3) What is your average check size?
$300k.
4) What stage do you invest in?
Early stage, but there must already be a working product and initial traction with customers. We like to invest before specialized funds enter, but it’s preferable if they have already started negotiations.
5) Which industries and geographies?
Geographies: US, Israel, Asia, Europe, Africa, MENA (#global)
Industries: mostly #B2B, #agnostic except Fintech. Most interesting: #Foodtech, #Medtech, #Pharmtech, #AI, #Deeptech, #SaaS, #Software, #Climate, #Mobility, #Construction.
6) Are you ready to be a lead investor?
Usually we join existing rounds, but leading is not excluded.
7) Where did the projects you invested in come from?
Through fund networks, investment intermediaries, other founders, and business school communities.
8) What percentage of investments came from cold messages/emails?
We’ve reviewed such projects but never invested in them due to low quality. Cold emails are read, but have very low priority.
9) Which accelerators/startup conferences do you follow?
We don’t track accelerators directly. We work mostly with funds that follow accelerators and provide projects. We attend conferences occasionally, mainly in Israel.
10) What should a pitch deck contain to pass initial screening?
- Clear description of the business model, how value is created and protected
- Evidence of traction and sales, and how these correspond to the valuation
11) What returns do you expect from investments?
Minimum 5x.
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
The founder must have prior successful business experience.
Solo founders are fine if they have a strong supporting team.
13) What kind of “unfair advantage” do you look for in projects?
We don’t usually use this term. We focus more on the project’s ability to create and capture value.
👍2
Fund #F42
#active #b2b #seed #seriesA #USD250k #USD500k
1) How many deals do you plan to make?
10–20 per year.
2) How many projects do you review?
Approximately 1 investment per 100–200 pitch decks received.
3) What is your average check size?
$250–500k.
4) What stage do you invest in?
Seed stage (MRR $30–50k) and Series A.
5) Which industries and geographies?
Geography: US (#developed)
Industries: #B2B #SaaS — mainly solutions for specific verticals, including AI-enabled services.
6) Are you ready to be a lead investor?
In 90% of cases we do not lead.
7) Where did the projects you invested in come from?
Mostly through our network of funds and accelerators, less often via proactive sourcing, and occasionally through cold outreach.
8) What percentage of investments came from cold messages/emails?
Occasionally. We regularly read cold emails and LinkedIn messages, but these projects are usually weaker, so they are not our main priority.
We are considering automating the processing of incoming projects.
9) Which accelerators/startup conferences do you follow?
We monitor all major accelerators: Techstars, YC, 500Global, Alchemist, Berkeley SkyDeck, and others as relevant.
At conferences, we mostly network with startups, though our attendance is infrequent.
10) What should a pitch deck contain to pass screening?
- Clear description of what the startup does
- Financial results (whether they exist, growth rate, and time period)
- Competitive analysis
- Team and LinkedIn profiles (links in the deck are mandatory to save time)
11) What returns do you expect from investments?
At least 10x.
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
No strict requirements. More important are prior experience, industry understanding, overall charisma, and persuasiveness.
13) What kind of “unfair advantage” do you look for in projects?
Also called secret sauce or competitive moat. It’s important.
The higher the barrier to entry, the closer the startup is to monopoly and the higher its future margin.
In our niche, it’s usually hard for startups to build an unfair advantage through technology alone, so we focus on unique access to something — clients, industry experience, or datasets for training models.
#active #b2b #seed #seriesA #USD250k #USD500k
1) How many deals do you plan to make?
10–20 per year.
2) How many projects do you review?
Approximately 1 investment per 100–200 pitch decks received.
3) What is your average check size?
$250–500k.
4) What stage do you invest in?
Seed stage (MRR $30–50k) and Series A.
5) Which industries and geographies?
Geography: US (#developed)
Industries: #B2B #SaaS — mainly solutions for specific verticals, including AI-enabled services.
6) Are you ready to be a lead investor?
In 90% of cases we do not lead.
7) Where did the projects you invested in come from?
Mostly through our network of funds and accelerators, less often via proactive sourcing, and occasionally through cold outreach.
8) What percentage of investments came from cold messages/emails?
Occasionally. We regularly read cold emails and LinkedIn messages, but these projects are usually weaker, so they are not our main priority.
We are considering automating the processing of incoming projects.
9) Which accelerators/startup conferences do you follow?
We monitor all major accelerators: Techstars, YC, 500Global, Alchemist, Berkeley SkyDeck, and others as relevant.
At conferences, we mostly network with startups, though our attendance is infrequent.
10) What should a pitch deck contain to pass screening?
- Clear description of what the startup does
- Financial results (whether they exist, growth rate, and time period)
- Competitive analysis
- Team and LinkedIn profiles (links in the deck are mandatory to save time)
11) What returns do you expect from investments?
At least 10x.
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
No strict requirements. More important are prior experience, industry understanding, overall charisma, and persuasiveness.
13) What kind of “unfair advantage” do you look for in projects?
Also called secret sauce or competitive moat. It’s important.
The higher the barrier to entry, the closer the startup is to monopoly and the higher its future margin.
In our niche, it’s usually hard for startups to build an unfair advantage through technology alone, so we focus on unique access to something — clients, industry experience, or datasets for training models.
👍1
Fund #F43
#active #b2b #seed #USD250k #USD1m
1) How many deals do you plan to make?
Around 15 investments per year.
2) How many projects do you review?
So far, we have reviewed around 5,000 projects.
Approximately 500 met our formal criteria, around 40 were analyzed in depth, and we invested in 5 companies.
3) What is your average check size?
$250k - $1m.
4) What stage do you invest in?
Pre-seed, Seed, Series A stages with first revenue most of the time.
5) Which industries and geographies?
Geography: US (90%), UK, Israel, Europe (rare) #developed
Industries: #B2B #SaaS, #ProductivityTools, #FutureOfWork, #HRTech, #SalesTech - everything that disrupts B2B expenses on software (replacement of existing tools or creation of completely new categories).
6) Are you ready to be a lead investor?
We can help bring in a lead investor, but we do not lead rounds ourselves.
7) Where did the projects you invested in come from?
Mostly sourced proactively by us, as well as through referrals from friendly funds and founders.
8) What percentage of investments came from cold messages/emails?
May be we had 1 such case, but the probability that a high-quality project will come through cold outreach is low. That said, we do review all cold emails just in case.
9) Which accelerators/startup rankings/conferences do you follow?
We monitor what types of companies get into top accelerators.
At the same time, we prefer working closely with more niche accelerators that have smaller batches — the collaboration is deeper and the valuation-to-quality ratio is often more attractive.
At conferences, we mostly network with other investors.
10) What should a pitch deck contain to pass screening?
- Traction (if available)
- A clear explanation of what the company will achieve with the raised capital (key metrics before the next round)
- The core team (we look not only at founders, but also at the caliber of people they hire)
11) What returns do you expect from investments?
Each investment should have the potential to return the entire fund (minimum 40x).
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
It is always better to have multiple founders and prior exit experience, but there are no formal requirements. The key factor is relevant experience in the target market.
13) What kind of “unfair advantage” do you look for in projects?
We look for something truly unique:
- a dataset that is hard to obtain,
- a partnership with a key customer or strategic player that others cannot secure,
- or exceptional team experience and market connections.
#active #b2b #seed #USD250k #USD1m
1) How many deals do you plan to make?
Around 15 investments per year.
2) How many projects do you review?
So far, we have reviewed around 5,000 projects.
Approximately 500 met our formal criteria, around 40 were analyzed in depth, and we invested in 5 companies.
3) What is your average check size?
$250k - $1m.
4) What stage do you invest in?
Pre-seed, Seed, Series A stages with first revenue most of the time.
5) Which industries and geographies?
Geography: US (90%), UK, Israel, Europe (rare) #developed
Industries: #B2B #SaaS, #ProductivityTools, #FutureOfWork, #HRTech, #SalesTech - everything that disrupts B2B expenses on software (replacement of existing tools or creation of completely new categories).
6) Are you ready to be a lead investor?
We can help bring in a lead investor, but we do not lead rounds ourselves.
7) Where did the projects you invested in come from?
Mostly sourced proactively by us, as well as through referrals from friendly funds and founders.
8) What percentage of investments came from cold messages/emails?
May be we had 1 such case, but the probability that a high-quality project will come through cold outreach is low. That said, we do review all cold emails just in case.
9) Which accelerators/startup rankings/conferences do you follow?
We monitor what types of companies get into top accelerators.
At the same time, we prefer working closely with more niche accelerators that have smaller batches — the collaboration is deeper and the valuation-to-quality ratio is often more attractive.
At conferences, we mostly network with other investors.
10) What should a pitch deck contain to pass screening?
- Traction (if available)
- A clear explanation of what the company will achieve with the raised capital (key metrics before the next round)
- The core team (we look not only at founders, but also at the caliber of people they hire)
11) What returns do you expect from investments?
Each investment should have the potential to return the entire fund (minimum 40x).
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
It is always better to have multiple founders and prior exit experience, but there are no formal requirements. The key factor is relevant experience in the target market.
13) What kind of “unfair advantage” do you look for in projects?
We look for something truly unique:
- a dataset that is hard to obtain,
- a partnership with a key customer or strategic player that others cannot secure,
- or exceptional team experience and market connections.
👍3🔥2
Fund #F44
#active #b2b #seed #USD100k #USD250k
1) How many deals do you plan to make?
Around 20 investments per year (10 companies in each of the two accelerator batches).
2) How many projects do you review?
We look only at companies that have graduated from top accelerators.
Across all accelerators, we review around 700 companies per year and engage deeply with about half of them.
3) What is your average check size?
$100–250k.
At the same time, 80% of the fund is reserved for follow-on investments in later rounds, with check sizes starting from $1m.
4) What stage do you invest in?
Seed stage (mostly revenue-generating companies).
5) Which industries and geographies?
Primary focus on #B2B projects using #AI, as well as the #Entertainment sector. Geography largely depends on where the accelerators recruit founders. For example, in YC today only about 10% of companies are not targeting the US market. #developed
6) Are you ready to be a lead investor?
At our stage within accelerators there is typically no lead investor — rounds are done via convertible instruments, mostly SAFE.
7) Where did the projects you invested in come from?
Almost exclusively from accelerators.
Very rarely we also look at companies introduced by LPs of our fund.
8) What percentage of investments came from cold messages/emails?
0%, and it is unlikely that we will actively respond to cold outreach, although we do occasionally read such emails.
9) Which accelerators/startup rankings/conferences do you follow?
Accelerators: Y Combinator, 500 Startups, Techstars, Berkeley SkyDeck, Alchemist. We do not source deals at conferences.
10) What should a pitch deck contain to pass screening?
- We look for companies with business models similar to previously successful ones (“look-alikes”).
- We seek signals that indicate the company can be successfully acquired by a strategic buyer at exit.
- Experienced teams with strong and broad networks are especially attractive.
11) What returns do you expect from investments?
Current entry valuations are around $15–20m.
Investors typically expect exit valuations of at least $200m, which implies a minimum formal return of 10–15x.
That said, this is a rather conservative scenario for a successful US startup, and in reality investors usually underwrite higher exit valuations and returns.
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
We have no formal requirements.
13) What kind of “unfair advantage” do you look for in projects?
Prior team experience that provides deep industry understanding and access to networks and ecosystems, enabling future fundraising and a successful strategic exit.
Additionally, in our view, being accepted into an accelerator like YC is already an unfair competitive advantage: only the best teams get in, the next two rounds are very likely to be secured, and B2B startups gain access to a large network of warm potential customers.
#active #b2b #seed #USD100k #USD250k
1) How many deals do you plan to make?
Around 20 investments per year (10 companies in each of the two accelerator batches).
2) How many projects do you review?
We look only at companies that have graduated from top accelerators.
Across all accelerators, we review around 700 companies per year and engage deeply with about half of them.
3) What is your average check size?
$100–250k.
At the same time, 80% of the fund is reserved for follow-on investments in later rounds, with check sizes starting from $1m.
4) What stage do you invest in?
Seed stage (mostly revenue-generating companies).
5) Which industries and geographies?
Primary focus on #B2B projects using #AI, as well as the #Entertainment sector. Geography largely depends on where the accelerators recruit founders. For example, in YC today only about 10% of companies are not targeting the US market. #developed
6) Are you ready to be a lead investor?
At our stage within accelerators there is typically no lead investor — rounds are done via convertible instruments, mostly SAFE.
7) Where did the projects you invested in come from?
Almost exclusively from accelerators.
Very rarely we also look at companies introduced by LPs of our fund.
8) What percentage of investments came from cold messages/emails?
0%, and it is unlikely that we will actively respond to cold outreach, although we do occasionally read such emails.
9) Which accelerators/startup rankings/conferences do you follow?
Accelerators: Y Combinator, 500 Startups, Techstars, Berkeley SkyDeck, Alchemist. We do not source deals at conferences.
10) What should a pitch deck contain to pass screening?
- We look for companies with business models similar to previously successful ones (“look-alikes”).
- We seek signals that indicate the company can be successfully acquired by a strategic buyer at exit.
- Experienced teams with strong and broad networks are especially attractive.
11) What returns do you expect from investments?
Current entry valuations are around $15–20m.
Investors typically expect exit valuations of at least $200m, which implies a minimum formal return of 10–15x.
That said, this is a rather conservative scenario for a successful US startup, and in reality investors usually underwrite higher exit valuations and returns.
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
We have no formal requirements.
13) What kind of “unfair advantage” do you look for in projects?
Prior team experience that provides deep industry understanding and access to networks and ecosystems, enabling future fundraising and a successful strategic exit.
Additionally, in our view, being accepted into an accelerator like YC is already an unfair competitive advantage: only the best teams get in, the next two rounds are very likely to be secured, and B2B startups gain access to a large network of warm potential customers.
👍3
Fund #F45
#active #b2c #b2b #preseed #USD100k
1) How many deals do you plan to make?
We used to operate as an accelerator & fund, but have now shifted toward being a fund with strong value-add support for portfolio companies.
We invest in 15–20 companies per year.
2) How many projects do you review?
We review around 2,500–3,000 companies per year. About 1,500 meet our formal criteria; we do first calls with ~350–400 of them, second calls with ~100–120, and close 15–20 deals.
3) What is your average check size?
Initial check: $70–150k.
As a follow-on we can invest an additional ~$300k+ in the next round.
4) What stage do you invest in?
Pre-seed with a working MVP and early revenue, up to 50k MRR maximum.
5) Which industries and geographies?
Primarily vertical #AI. These are mostly either AI-native companies (AI as the core of the product) or full-stack AI startups (service businesses with a high degree of internal automation via AI, including roll-ups).
Industries of interest: #Healthtech, #Edtech, #FutureOfWork, #Fintech.
We generally like #Impact startups that make the world better.
Geographically: we invest in European founders entering the US market or aiming to become regional champions, but we also consider North American teams. #developed
6) Are you ready to be a lead investor?
At our stages, rounds are usually structured via convertible notes without a formal lead. But we are ready to commit first and run due diligence if needed.
7) Where did the projects you invested in come from?
65% inbound (website applications + referrals)
35% proactive scouting (status updates with fellow teams, events, platform/database screening)
8) What percentage of investments came through cold messages/emails?
We receive many cold messages, but only a fraction of them reach the stage of intro calls and their conversion is lower:
- conversion from intro call → deal for “cold” projects: 5–6%
- conversion from intro call → deal for “warm” projects: 17–18%
We are actively thinking about automating pre-screening process, so we expect to look even more at cold inbound deals.
9) Which accelerators/ratings/conferences do you follow?
We attend nearly all major conferences — WebSummit, Slush, events in Poland, Spain, Cyprus, and the Baltics. We try to meet founders there - contacting us via conference apps is very realistic.
However, to get on our radar, you can write to us directly and fill out our form, though a warm intro from a portfolio founder is even better.
10) What should a presentation contain to pass your scoring?
We look for startups that identify new trends (technology, market regulation shifts) and have a team with relevant experience (previous exit, academic degree, or senior industry experience) to capitalize on these trends.
But above all — the founder must have strong internal motivation to build the startup, a clear answer to “why are you doing this?”
11) What returns do you expect from projects?
We look for companies that can return the entire fund — meaning each project should have a 30–50x potential.
12) Is it important whether there are 1 or 2 founders, and whether this is their first project?
No formal requirements. The key is that strategically important competencies are covered within the team. We’ve had two cases where we successfully helped solo founders find co-founders.
13) What “unfair advantage” do you look for?
At pre-seed the most important factor is the team. And for the team the most important thing is motivation. We look for founders whose intrinsic motivations are the most resilient, from our point of view.
#active #b2c #b2b #preseed #USD100k
1) How many deals do you plan to make?
We used to operate as an accelerator & fund, but have now shifted toward being a fund with strong value-add support for portfolio companies.
We invest in 15–20 companies per year.
2) How many projects do you review?
We review around 2,500–3,000 companies per year. About 1,500 meet our formal criteria; we do first calls with ~350–400 of them, second calls with ~100–120, and close 15–20 deals.
3) What is your average check size?
Initial check: $70–150k.
As a follow-on we can invest an additional ~$300k+ in the next round.
4) What stage do you invest in?
Pre-seed with a working MVP and early revenue, up to 50k MRR maximum.
5) Which industries and geographies?
Primarily vertical #AI. These are mostly either AI-native companies (AI as the core of the product) or full-stack AI startups (service businesses with a high degree of internal automation via AI, including roll-ups).
Industries of interest: #Healthtech, #Edtech, #FutureOfWork, #Fintech.
We generally like #Impact startups that make the world better.
Geographically: we invest in European founders entering the US market or aiming to become regional champions, but we also consider North American teams. #developed
6) Are you ready to be a lead investor?
At our stages, rounds are usually structured via convertible notes without a formal lead. But we are ready to commit first and run due diligence if needed.
7) Where did the projects you invested in come from?
65% inbound (website applications + referrals)
35% proactive scouting (status updates with fellow teams, events, platform/database screening)
8) What percentage of investments came through cold messages/emails?
We receive many cold messages, but only a fraction of them reach the stage of intro calls and their conversion is lower:
- conversion from intro call → deal for “cold” projects: 5–6%
- conversion from intro call → deal for “warm” projects: 17–18%
We are actively thinking about automating pre-screening process, so we expect to look even more at cold inbound deals.
9) Which accelerators/ratings/conferences do you follow?
We attend nearly all major conferences — WebSummit, Slush, events in Poland, Spain, Cyprus, and the Baltics. We try to meet founders there - contacting us via conference apps is very realistic.
However, to get on our radar, you can write to us directly and fill out our form, though a warm intro from a portfolio founder is even better.
10) What should a presentation contain to pass your scoring?
We look for startups that identify new trends (technology, market regulation shifts) and have a team with relevant experience (previous exit, academic degree, or senior industry experience) to capitalize on these trends.
But above all — the founder must have strong internal motivation to build the startup, a clear answer to “why are you doing this?”
11) What returns do you expect from projects?
We look for companies that can return the entire fund — meaning each project should have a 30–50x potential.
12) Is it important whether there are 1 or 2 founders, and whether this is their first project?
No formal requirements. The key is that strategically important competencies are covered within the team. We’ve had two cases where we successfully helped solo founders find co-founders.
13) What “unfair advantage” do you look for?
At pre-seed the most important factor is the team. And for the team the most important thing is motivation. We look for founders whose intrinsic motivations are the most resilient, from our point of view.
👍4🔥2
Fund #F46
#NOTactive #b2c #b2b #seed #USD100k
1) How many deals do you plan to make?
We do not do fast deals — we usually observe projects for quite a long time.
Therefore, closing around 5 deals per year would be a good result for us.
2) How many projects do you review?
Roughly 1 investment per 30 intro calls.
3) What is your average check size?
$100k.
4) What stage do you invest in?
Seed stage.
Initial revenue is mandatory — at least $10k MRR.
5) Which industries and geographies?
India, the Middle East, and Indonesia (#emerging).
Industries: initially #HRtech and #Edtech, with plans to also add #Fintech and #Proptech.
6) Are you ready to be a lead investor?
Most often no — our check size is relatively small.
7) Where did the projects you invested in come from?
Through our own accelerator, personal connections, and direct connections at conferences or meetups.
8) What percentage of investments came from cold messages/emails?
None.
We review all projects with the same formal priority and even projects coming through our network are asked to submit an application via our website.
In practice, however, network-driven projects tend to be of higher quality.
9) Which accelerators/startup rankings/conferences do you follow?
We previously ran our own accelerator and also published annual reports on HR and Education, attracting projects through these channels.
10) What should a pitch deck contain to pass screening?
- A clear product
- A large market
- An experienced team
- Strong traction
11) What returns do you expect from investments?
At least 10x per project.
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
The main requirement is that the founders live in the same geography where the business operates.There are no other formal requirements.
13) What kind of “unfair advantage” do you look for in projects?
This is important to us, and we look for it in every project.
Most often it comes from the founders’ unique experience — either having built something similar before or possessing rare, highly relevant competencies.
#NOTactive #b2c #b2b #seed #USD100k
1) How many deals do you plan to make?
We do not do fast deals — we usually observe projects for quite a long time.
Therefore, closing around 5 deals per year would be a good result for us.
2) How many projects do you review?
Roughly 1 investment per 30 intro calls.
3) What is your average check size?
$100k.
4) What stage do you invest in?
Seed stage.
Initial revenue is mandatory — at least $10k MRR.
5) Which industries and geographies?
India, the Middle East, and Indonesia (#emerging).
Industries: initially #HRtech and #Edtech, with plans to also add #Fintech and #Proptech.
6) Are you ready to be a lead investor?
Most often no — our check size is relatively small.
7) Where did the projects you invested in come from?
Through our own accelerator, personal connections, and direct connections at conferences or meetups.
8) What percentage of investments came from cold messages/emails?
None.
We review all projects with the same formal priority and even projects coming through our network are asked to submit an application via our website.
In practice, however, network-driven projects tend to be of higher quality.
9) Which accelerators/startup rankings/conferences do you follow?
We previously ran our own accelerator and also published annual reports on HR and Education, attracting projects through these channels.
10) What should a pitch deck contain to pass screening?
- A clear product
- A large market
- An experienced team
- Strong traction
11) What returns do you expect from investments?
At least 10x per project.
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
The main requirement is that the founders live in the same geography where the business operates.There are no other formal requirements.
13) What kind of “unfair advantage” do you look for in projects?
This is important to us, and we look for it in every project.
Most often it comes from the founders’ unique experience — either having built something similar before or possessing rare, highly relevant competencies.
👍3
Fund #F47
#active #b2b #seed #USD2m
1) How many deals do you plan to make?
We plan to invest in 15–20 companies in total. So far, we have invested in 8.
2) Out of 100 decks, how many projects do you invest in?
Our investment conversion rate is probably around 2–4%.
3) What is the average check size?
€1–3m for a 10–20% equity stake. However, we are flexible.
4) Which stages are you looking at?
Seed and Series A, with at least $250–300k ARR.
5) What industries, geography?
#B2B technology startups primarily in #Cybersecurity, #Infrastructure, #AI, and #Observability. We mainly invest in Europe (80%) and the US, #developed.
6) Are you ready to be a lead investor?
Yes. We can act as either a lead or co-lead investor.
7) Where did the projects you invested in come from?
Our four main sourcing channels are:
- Other funds
- Founder referrals
- Organic inbound
- Proactive outbound sourcing (thesis-driven, using LinkedIn, Harmonic, and GitHub)
8) What percentage of investments are in projects that came through cold messages/emails?
Not yet, but we do read cold emails.
9) What accelerators or startup conferences do you follow/attend?
At conferences, we mainly focus on meeting VC funds and companies we already know. Accelerators are generally too early-stage for our investment focus.
10) What should be in the presentation to pass initial review?
- Team (the most important factor)
- Product
- Potential to become a category leader
11) What return on investment do you expect from the projects?
Around 70–80% of M&A transactions take place at valuations between $200m and $700m, as CEOs can typically approve acquisitions within this range without requiring board approval. A company exiting at a $500m valuation, with our typical ownership stake of 10–20%, has the potential to return the fund. We therefore look for investments with fund-returning potential.
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
There are no strict requirements. We look for founders who can sell, execute quickly, and build efficiently. We particularly like technical founders with deep domain expertise who are solving difficult problems.
13) What "unfair advantage" in projects are you looking for?
We aim to create that advantage ourselves by actively supporting our portfolio companies. That is one of the reasons we maintain a concentrated portfolio.
#active #b2b #seed #USD2m
1) How many deals do you plan to make?
We plan to invest in 15–20 companies in total. So far, we have invested in 8.
2) Out of 100 decks, how many projects do you invest in?
Our investment conversion rate is probably around 2–4%.
3) What is the average check size?
€1–3m for a 10–20% equity stake. However, we are flexible.
4) Which stages are you looking at?
Seed and Series A, with at least $250–300k ARR.
5) What industries, geography?
#B2B technology startups primarily in #Cybersecurity, #Infrastructure, #AI, and #Observability. We mainly invest in Europe (80%) and the US, #developed.
6) Are you ready to be a lead investor?
Yes. We can act as either a lead or co-lead investor.
7) Where did the projects you invested in come from?
Our four main sourcing channels are:
- Other funds
- Founder referrals
- Organic inbound
- Proactive outbound sourcing (thesis-driven, using LinkedIn, Harmonic, and GitHub)
8) What percentage of investments are in projects that came through cold messages/emails?
Not yet, but we do read cold emails.
9) What accelerators or startup conferences do you follow/attend?
At conferences, we mainly focus on meeting VC funds and companies we already know. Accelerators are generally too early-stage for our investment focus.
10) What should be in the presentation to pass initial review?
- Team (the most important factor)
- Product
- Potential to become a category leader
11) What return on investment do you expect from the projects?
Around 70–80% of M&A transactions take place at valuations between $200m and $700m, as CEOs can typically approve acquisitions within this range without requiring board approval. A company exiting at a $500m valuation, with our typical ownership stake of 10–20%, has the potential to return the fund. We therefore look for investments with fund-returning potential.
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
There are no strict requirements. We look for founders who can sell, execute quickly, and build efficiently. We particularly like technical founders with deep domain expertise who are solving difficult problems.
13) What "unfair advantage" in projects are you looking for?
We aim to create that advantage ourselves by actively supporting our portfolio companies. That is one of the reasons we maintain a concentrated portfolio.
👍4
Fund #F48
#active #b2b #seed #SeriesA #USD500k #USD2m
1) How many deals do you plan to do?
We are currently focused on working with our portfolio companies. Sometimes we invest in new projects on a deal-by-deal basis if we find something exceptional.
2) How many projects do you review?
Previously, we reviewed around 1,500 projects per year, but currently we are not very active in screening.
3) What is your average check size?
$500k on average.
Minimum $200k, maximum $1.5m.
4) What stage do you invest in?
Late Seed, pre-Series A.
Annual revenue from $1m with growth.
Ideally ARR > $1m, but we are flexible if we really like the project.
5) Which industries and geographies?
We invest globally in EU, UK, LatAm, GCC and US (#global), with a stronger focus on Europe.
Key verticals: #Sporttech (all verticals related to sport ecosystem), #Mobility, #Industrial (#Hardware, #Deeptech) and #Fintech (mostly related to #Proptech).
We prefer B2B projects; B2C is acceptable if the company also has B2B revenue potential.
6) Are you ready to be a lead investor?
No.
7) Where did the projects you invested in come from?
Primarily from our network: our own events and programs, partner experts, angel investors, and other funds.
8) What percentage of investments came from cold messages/emails?
We read inbound messages, but so far there have been no investments sourced this way.
9) Which accelerators/startup rankings/conferences do you follow?
We follow all of them and are open to working with any.
10) What should a pitch deck contain to pass screening?
The core idea of the project, traction, and contact details.
If we are interested, we will reach out and request additional information.
11) What returns do you expect from investments?
5x+.
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
Repeat founders are preferred but not required.
Overall, we look for a strong team and advisors.
13) What kind of “unfair advantage” do you look for in projects?
We do not explicitly look for one, but we ask this question out of curiosity.
In some cases, we can help create such an advantage through synergies with our industry partners in marketing and IT development.
#active #b2b #seed #SeriesA #USD500k #USD2m
1) How many deals do you plan to do?
We are currently focused on working with our portfolio companies. Sometimes we invest in new projects on a deal-by-deal basis if we find something exceptional.
2) How many projects do you review?
Previously, we reviewed around 1,500 projects per year, but currently we are not very active in screening.
3) What is your average check size?
$500k on average.
Minimum $200k, maximum $1.5m.
4) What stage do you invest in?
Late Seed, pre-Series A.
Annual revenue from $1m with growth.
Ideally ARR > $1m, but we are flexible if we really like the project.
5) Which industries and geographies?
We invest globally in EU, UK, LatAm, GCC and US (#global), with a stronger focus on Europe.
Key verticals: #Sporttech (all verticals related to sport ecosystem), #Mobility, #Industrial (#Hardware, #Deeptech) and #Fintech (mostly related to #Proptech).
We prefer B2B projects; B2C is acceptable if the company also has B2B revenue potential.
6) Are you ready to be a lead investor?
No.
7) Where did the projects you invested in come from?
Primarily from our network: our own events and programs, partner experts, angel investors, and other funds.
8) What percentage of investments came from cold messages/emails?
We read inbound messages, but so far there have been no investments sourced this way.
9) Which accelerators/startup rankings/conferences do you follow?
We follow all of them and are open to working with any.
10) What should a pitch deck contain to pass screening?
The core idea of the project, traction, and contact details.
If we are interested, we will reach out and request additional information.
11) What returns do you expect from investments?
5x+.
12) Is it important how many founders there are (1 or 2), and whether this is their first project?
Repeat founders are preferred but not required.
Overall, we look for a strong team and advisors.
13) What kind of “unfair advantage” do you look for in projects?
We do not explicitly look for one, but we ask this question out of curiosity.
In some cases, we can help create such an advantage through synergies with our industry partners in marketing and IT development.
❤1👍1
Accelerator #F49
#active #b2b #preseed #USD100k
1) How many deals do you plan to make?
We are making 70-80 investments per year with the goal of increasing it to 150 per year.
2) Out of 100 decks how many projects do you let in and invest in?
We receive 1500-3000 applications per year. We invest in all projects that we accept in the accelerator.
3) What is the average check size?
$100k, but projects need to pay for program fees, and usually, 70-80k is left after those expenses.
4) Which stages are you looking at?
We aim to invest in projects with an MVP and first clients. However, if there are no clients but LOIs are signed, it can also be sufficient.
If it is a prototype-level project, we can add it to our warm list and accept it later when the MVP is ready.
5) What industries, geography?
We look at B2B projects only in several sectors: #SaaS #Cybersecurity #Fintech #Proptech #Climate, predominantly focused on development in the European market, in both #developed and #emerging countries.
6) Are you ready to be a lead investor?
We can give a first check in the form of a convertible loan.
7) Where did the projects you invested in come from?
We receive a lot of inbound requests as a result of our brand marketing, and at the same time, we use outbound outreach by taking part in conferences and events.
8) What percentage of investments are in projects that came through cold messages/emails?
All projects fill out our application form and have equal priority.
9) What accelerators or startup conferences do you follow/attend?
We follow many conferences to create a brand presence.
10) What should be in the presentation to pass the initial review?
- The application form should be filled out thoughtfully, without mess in the answers
- Strong team
- Clear product proposition
- Scalability potential
11) What return on investment do you expect from the projects?
Not only future unicorns are accepted; we can invest in local champions as well.
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
We do not accept solo founders (unless they have 3 previous exits and have always been solo founders).
At the same time, we welcome first-time founders - usually, they correspond to 60-70% of our batches.
13) What "unfair advantage" in projects are you looking for?
We are not asking about this specifically. We need to understand what your differentiator and main selling point for clients are. In general, if you do not have IPs but can compete on execution, it is quite a normal situation.
#active #b2b #preseed #USD100k
1) How many deals do you plan to make?
We are making 70-80 investments per year with the goal of increasing it to 150 per year.
2) Out of 100 decks how many projects do you let in and invest in?
We receive 1500-3000 applications per year. We invest in all projects that we accept in the accelerator.
3) What is the average check size?
$100k, but projects need to pay for program fees, and usually, 70-80k is left after those expenses.
4) Which stages are you looking at?
We aim to invest in projects with an MVP and first clients. However, if there are no clients but LOIs are signed, it can also be sufficient.
If it is a prototype-level project, we can add it to our warm list and accept it later when the MVP is ready.
5) What industries, geography?
We look at B2B projects only in several sectors: #SaaS #Cybersecurity #Fintech #Proptech #Climate, predominantly focused on development in the European market, in both #developed and #emerging countries.
6) Are you ready to be a lead investor?
We can give a first check in the form of a convertible loan.
7) Where did the projects you invested in come from?
We receive a lot of inbound requests as a result of our brand marketing, and at the same time, we use outbound outreach by taking part in conferences and events.
8) What percentage of investments are in projects that came through cold messages/emails?
All projects fill out our application form and have equal priority.
9) What accelerators or startup conferences do you follow/attend?
We follow many conferences to create a brand presence.
10) What should be in the presentation to pass the initial review?
- The application form should be filled out thoughtfully, without mess in the answers
- Strong team
- Clear product proposition
- Scalability potential
11) What return on investment do you expect from the projects?
Not only future unicorns are accepted; we can invest in local champions as well.
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
We do not accept solo founders (unless they have 3 previous exits and have always been solo founders).
At the same time, we welcome first-time founders - usually, they correspond to 60-70% of our batches.
13) What "unfair advantage" in projects are you looking for?
We are not asking about this specifically. We need to understand what your differentiator and main selling point for clients are. In general, if you do not have IPs but can compete on execution, it is quite a normal situation.
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Fund #F50
#active #b2b #seed #USD500k #USD1m
1) How many deals do you plan to make?
About 15 deals over 4 years.
2) How many projects do you review?
Approximately 200–300 per year.
3) What is the average check size?
$500k–$1.5m.
4) Which stages are you looking at?
Seed. Must have an MVP, first customers, and several months of MRR to verify that actual metrics align with the financial model.
5) What industries, geography?
B2B projects applying #AI to traditional industries (#Industry) that need digital transformation.
Examples: manufacturing, trade, logistics, customs, construction, procurement, etc.
Geography: roughly half of projects from Israel, half from Northern Europe (#developed).
6) Are you ready to be a lead investor?
Yes, but prefer if the lead is a well-known fund.
7) Where did the projects you invested in come from?
Mostly from horizontal connections via the fund’s engineering partners.
Also proactively sourcing projects through events, accelerators, and universities in Europe.
8) What percentage of investments are in projects that came through cold messages/emails?
We read all cold emails; some interesting projects even reached calls and due diligence, but no investments so far.
9) What accelerators or startup conferences do you follow/attend?
Scouts track major accelerators like YC, SWG, etc.
Participate in local conferences: Emerge (Yerevan), TechChill (Riga), Latitude59 (Tallinn), Slush (Helsinki).
10) What should a project have to pass initial screening?
- Promising market
- Clearly presented market problem
- Traction with customers
11) What return on investment do you expect from the projects?
Looking at exits over 4–5 years; a 10x return is considered reasonable.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Solo and first-time founders are additional risk factors we prefer to avoid, but there are no strict restrictions.
13) What "unfair advantage" in projects are you looking for?
Looking for a “secret sauce” or differentiator in all projects—preferably not a patent, but exclusivity in access to data or team experience that is hard to replicate.
#active #b2b #seed #USD500k #USD1m
1) How many deals do you plan to make?
About 15 deals over 4 years.
2) How many projects do you review?
Approximately 200–300 per year.
3) What is the average check size?
$500k–$1.5m.
4) Which stages are you looking at?
Seed. Must have an MVP, first customers, and several months of MRR to verify that actual metrics align with the financial model.
5) What industries, geography?
B2B projects applying #AI to traditional industries (#Industry) that need digital transformation.
Examples: manufacturing, trade, logistics, customs, construction, procurement, etc.
Geography: roughly half of projects from Israel, half from Northern Europe (#developed).
6) Are you ready to be a lead investor?
Yes, but prefer if the lead is a well-known fund.
7) Where did the projects you invested in come from?
Mostly from horizontal connections via the fund’s engineering partners.
Also proactively sourcing projects through events, accelerators, and universities in Europe.
8) What percentage of investments are in projects that came through cold messages/emails?
We read all cold emails; some interesting projects even reached calls and due diligence, but no investments so far.
9) What accelerators or startup conferences do you follow/attend?
Scouts track major accelerators like YC, SWG, etc.
Participate in local conferences: Emerge (Yerevan), TechChill (Riga), Latitude59 (Tallinn), Slush (Helsinki).
10) What should a project have to pass initial screening?
- Promising market
- Clearly presented market problem
- Traction with customers
11) What return on investment do you expect from the projects?
Looking at exits over 4–5 years; a 10x return is considered reasonable.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Solo and first-time founders are additional risk factors we prefer to avoid, but there are no strict restrictions.
13) What "unfair advantage" in projects are you looking for?
Looking for a “secret sauce” or differentiator in all projects—preferably not a patent, but exclusivity in access to data or team experience that is hard to replicate.
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Fund #F51
#active #b2b #preseed #seed #SeriesA #USD50k #USD100k
1) How many deals do you plan to make?
3–10 deals per year.
2) How many projects do you review?
Approximately 100 decks per investment.
3) What is the average check size?
$50k–$100k.
4) Which stages are you looking at?
Pre-seed to Series A.
No strict minimum stage criteria—it depends on the strength of the team and where the project comes from.
5) What industries, geography?
Industries: #SaaS, #Healthtech, #Enterprise #Software, #Deeptech.
Geography: global (#global), but founders should have a connection to Israel.
6) Are you ready to be a lead investor?
No, the check size is too small. Prefer to join rounds with strong lead investors.
7) Where did the projects you invested in come from?
Mostly from startup and fund networks.
8) What percentage of investments are in projects that came through cold messages/emails?
We consider all projects regardless of source.
9) What accelerators or startup conferences do you follow/attend?
No systematic tracking at the moment.
10) What should a project have to pass initial screening?
- A strong founding team.
- A problem that is genuinely significant and worth solving.
11) What return on investment do you expect from the projects?
No strict criterion; it varies case by case.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Prefer 2–3 founders. First-time founders are fine if they have strong relevant experience in their industry.
13) What "unfair advantage" in projects are you looking for?
Very important—we always look for it, though it may differ from project to project.
#active #b2b #preseed #seed #SeriesA #USD50k #USD100k
1) How many deals do you plan to make?
3–10 deals per year.
2) How many projects do you review?
Approximately 100 decks per investment.
3) What is the average check size?
$50k–$100k.
4) Which stages are you looking at?
Pre-seed to Series A.
No strict minimum stage criteria—it depends on the strength of the team and where the project comes from.
5) What industries, geography?
Industries: #SaaS, #Healthtech, #Enterprise #Software, #Deeptech.
Geography: global (#global), but founders should have a connection to Israel.
6) Are you ready to be a lead investor?
No, the check size is too small. Prefer to join rounds with strong lead investors.
7) Where did the projects you invested in come from?
Mostly from startup and fund networks.
8) What percentage of investments are in projects that came through cold messages/emails?
We consider all projects regardless of source.
9) What accelerators or startup conferences do you follow/attend?
No systematic tracking at the moment.
10) What should a project have to pass initial screening?
- A strong founding team.
- A problem that is genuinely significant and worth solving.
11) What return on investment do you expect from the projects?
No strict criterion; it varies case by case.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Prefer 2–3 founders. First-time founders are fine if they have strong relevant experience in their industry.
13) What "unfair advantage" in projects are you looking for?
Very important—we always look for it, though it may differ from project to project.
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Fund #F52
#active #b2c #b2b #preseed #seed #USD500k #USD1m
1) How many deals do you plan to make?
The fund is almost fully invested. We plan to make 2–3 deals at the end of 2024 and the beginning of 2025.
2) How many projects do you review?
Approximately 80–100 decks per investment.
3) What is the average check size?
$500k–$1m.
4) Which stages are you looking at?
Pre-seed and Seed.
Target ownership: 5–10%.
Pre-seed: MVP plus pilots (or agreements for pilots) with clients are required.
Seed: rapidly growing revenue is expected.
5) What industries, geography?
We consider both B2B and B2C.
No strict industry focus (#agnostic), but we more often look at #Deeptech, #SaaS, #AI, and #BigData (data-driven) projects.
Geography: global (#global), market size is more important than country.
Preference for founders from post-Soviet countries and Eastern Europe; less frequently from Western Europe.
6) Are you ready to be a lead investor?
Yes, we like to lead deals.
7) Where did the projects you invested in come from?
Mostly from our network.
8) What percentage of investments are in projects that came through cold messages/emails?
We review all inbound cold contacts and have engaged with several projects, but no investments have come from this channel yet. We are generally very open to new contacts.
9) What accelerators or startup conferences do you follow/attend?
Local events: Gitex, Emerge, TechChill, Latitude59.
Accelerators: UltraVC, SWG, EWOR, Plug&Play.
10) What should a project have to pass initial screening?
- Understanding of traction or its potential.
- Strong team: if the team is strong, we are more likely to engage.
- Market competition: highly competitive markets are less interesting.
11) What return on investment do you expect from the projects?
We target high returns (30x+), but if a company is particularly interesting, we may consider a planned return of 10x.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
No strict requirements. Repeat founders and 2 co-founders are preferred over first-time solo founders.
13) What "unfair advantage" in projects are you looking for?
We look for something unique in every project—something that other competitors do not have.
#active #b2c #b2b #preseed #seed #USD500k #USD1m
1) How many deals do you plan to make?
The fund is almost fully invested. We plan to make 2–3 deals at the end of 2024 and the beginning of 2025.
2) How many projects do you review?
Approximately 80–100 decks per investment.
3) What is the average check size?
$500k–$1m.
4) Which stages are you looking at?
Pre-seed and Seed.
Target ownership: 5–10%.
Pre-seed: MVP plus pilots (or agreements for pilots) with clients are required.
Seed: rapidly growing revenue is expected.
5) What industries, geography?
We consider both B2B and B2C.
No strict industry focus (#agnostic), but we more often look at #Deeptech, #SaaS, #AI, and #BigData (data-driven) projects.
Geography: global (#global), market size is more important than country.
Preference for founders from post-Soviet countries and Eastern Europe; less frequently from Western Europe.
6) Are you ready to be a lead investor?
Yes, we like to lead deals.
7) Where did the projects you invested in come from?
Mostly from our network.
8) What percentage of investments are in projects that came through cold messages/emails?
We review all inbound cold contacts and have engaged with several projects, but no investments have come from this channel yet. We are generally very open to new contacts.
9) What accelerators or startup conferences do you follow/attend?
Local events: Gitex, Emerge, TechChill, Latitude59.
Accelerators: UltraVC, SWG, EWOR, Plug&Play.
10) What should a project have to pass initial screening?
- Understanding of traction or its potential.
- Strong team: if the team is strong, we are more likely to engage.
- Market competition: highly competitive markets are less interesting.
11) What return on investment do you expect from the projects?
We target high returns (30x+), but if a company is particularly interesting, we may consider a planned return of 10x.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
No strict requirements. Repeat founders and 2 co-founders are preferred over first-time solo founders.
13) What "unfair advantage" in projects are you looking for?
We look for something unique in every project—something that other competitors do not have.
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Fund #F53
#active #b2c #b2b #seed #seriesA #seriesB #USD500k
1) How many deals do you plan to make?
5–8 deals per year.
2) How many projects do you review?
60–80 projects per investment.
3) What is the average check size?
$500k.
4) Which stages are you looking at?
Seed → Series A → Series B. The company must already have a product and initial revenue.
5) What industries, geography?
Only #Sporttech. We invest in any geography except Russia (#global). We also consider Russia (#Rus) if projects have the potential to expand internationally.
6) Are you ready to be a lead investor?
We lead about one-third of our deals. Since our focus is relatively narrow, a small check combined with good reputation and market knowledge can allow us to lead.
7) Where did the projects you invested in come from?
From our network and after participating in relevant conferences or reviewing research publications.
8) What percentage of investments are in projects that came through cold messages/emails?
At least three deals came via cold emails or LinkedIn (including prior investments).
9) What accelerators or startup conferences do you follow/attend?
SportsTechX, TechStars, LEAD, Australian Open Startups, GSIC.
10) What should a project have to pass initial screening?
Clear description of the market, product, current company results, and team experience.
11) What return on investment do you expect from the projects?
5–10x. If the expected return is closer to 5x, the exit probability must be high for us to invest.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Number of founders is not critical. Prior startup experience is a plus but not required. If there are multiple founders, it’s even better if they have worked together previously.
13) What "unfair advantage" in projects are you looking for?
It’s important that what the startup team does is hard to replicate. Each case may have different factors contributing to this advantage.
#active #b2c #b2b #seed #seriesA #seriesB #USD500k
1) How many deals do you plan to make?
5–8 deals per year.
2) How many projects do you review?
60–80 projects per investment.
3) What is the average check size?
$500k.
4) Which stages are you looking at?
Seed → Series A → Series B. The company must already have a product and initial revenue.
5) What industries, geography?
Only #Sporttech. We invest in any geography except Russia (#global). We also consider Russia (#Rus) if projects have the potential to expand internationally.
6) Are you ready to be a lead investor?
We lead about one-third of our deals. Since our focus is relatively narrow, a small check combined with good reputation and market knowledge can allow us to lead.
7) Where did the projects you invested in come from?
From our network and after participating in relevant conferences or reviewing research publications.
8) What percentage of investments are in projects that came through cold messages/emails?
At least three deals came via cold emails or LinkedIn (including prior investments).
9) What accelerators or startup conferences do you follow/attend?
SportsTechX, TechStars, LEAD, Australian Open Startups, GSIC.
10) What should a project have to pass initial screening?
Clear description of the market, product, current company results, and team experience.
11) What return on investment do you expect from the projects?
5–10x. If the expected return is closer to 5x, the exit probability must be high for us to invest.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Number of founders is not critical. Prior startup experience is a plus but not required. If there are multiple founders, it’s even better if they have worked together previously.
13) What "unfair advantage" in projects are you looking for?
It’s important that what the startup team does is hard to replicate. Each case may have different factors contributing to this advantage.
👍2
Investment Company #F54
#active #b2c #b2b #preseed #seed #USD50k #USD250k
1) How many deals do you plan to make?
We are not a fund, but a private company that occasionally invests surplus capital in startups, so our investment pace is unpredictable.
2) How many projects do you review per year?
No systematic approach.
3) What is the average check size?
Around $50k for pre-seed and up to $250k for seed.
4) Which stages are you looking at?
Early-stage projects.
5) What industries, geography?
Anything related to #AI and #Gamedev (all gaming, adjacent gaming projects, and blockchain games).
We can invest in Russia (#Rus) and abroad, with a preference for developed markets (#developed).
6) Are you ready to be a lead investor?
Depends on the situation.
7) Where did the projects you invested in come from?
Many projects come from our network, including business communities. Some are sourced from attending conferences.
8) What percentage of investments are in projects that came through cold messages/emails?
We do not read cold emails; we prefer to invest in founders with whom we have mutual contacts.
9) What accelerators or startup conferences do you follow/attend?
For example, we attend Emerge and Epic Growth.
10) What should a project have to pass initial screening?
- Energy and charisma of the founder
- How logically the presentation is made, clarity of the problem and solution, and overall approach—whether it’s template-like or interesting
- Synergy with current companies (#AI, #Fintech, #Foodtech, #Edtech) so we can support the project afterward
11) What return on investment do you expect from the projects?
We balance risk and return, typically looking at projects with potential returns of 3x-10x.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
We like serial entrepreneurs but have no strict criteria. Since we actively help projects after investing, we need to have good chemistry with the founder(s) before entry.
13) What "unfair advantage" in projects are you looking for?
We usually call it a “shortcut”—an advantage that allows the project to achieve something faster than competitors. Nice to have, but not mandatory.
#active #b2c #b2b #preseed #seed #USD50k #USD250k
1) How many deals do you plan to make?
We are not a fund, but a private company that occasionally invests surplus capital in startups, so our investment pace is unpredictable.
2) How many projects do you review per year?
No systematic approach.
3) What is the average check size?
Around $50k for pre-seed and up to $250k for seed.
4) Which stages are you looking at?
Early-stage projects.
5) What industries, geography?
Anything related to #AI and #Gamedev (all gaming, adjacent gaming projects, and blockchain games).
We can invest in Russia (#Rus) and abroad, with a preference for developed markets (#developed).
6) Are you ready to be a lead investor?
Depends on the situation.
7) Where did the projects you invested in come from?
Many projects come from our network, including business communities. Some are sourced from attending conferences.
8) What percentage of investments are in projects that came through cold messages/emails?
We do not read cold emails; we prefer to invest in founders with whom we have mutual contacts.
9) What accelerators or startup conferences do you follow/attend?
For example, we attend Emerge and Epic Growth.
10) What should a project have to pass initial screening?
- Energy and charisma of the founder
- How logically the presentation is made, clarity of the problem and solution, and overall approach—whether it’s template-like or interesting
- Synergy with current companies (#AI, #Fintech, #Foodtech, #Edtech) so we can support the project afterward
11) What return on investment do you expect from the projects?
We balance risk and return, typically looking at projects with potential returns of 3x-10x.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
We like serial entrepreneurs but have no strict criteria. Since we actively help projects after investing, we need to have good chemistry with the founder(s) before entry.
13) What "unfair advantage" in projects are you looking for?
We usually call it a “shortcut”—an advantage that allows the project to achieve something faster than competitors. Nice to have, but not mandatory.
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Fund #F55
#active #b2c #b2b #SeriesA #USD5m
1) How many deals do you plan to make?
Managing $250M under management, we do up to 6-7 deals per year, usually 3-4.
2) How many projects do you review?
Several hundred per year.
3) What is the average check size?
$5-10M.
4) Which stages are you looking at?
Series A and above. Minimum revenue (run-rate) around $3M ARR.
5) What industries, geography?
Generally #agnostic, looking at both B2B and B2C.
Best understood sectors: #B2B #SaaS, #B2C #Apps, #Ecommerce, #Classified.
Hardly any hardware or deeptech (except AI infrastructure or hardware + AI software combinations).
Mostly communicating with founders from Eastern and Central Europe targeting developed markets, though exact geography is less important (#global); sales growth dynamics matter more.
6) Are you ready to be a lead investor?
Prefer to lead, but can also do co-investments.
7) Where did the projects you invested in come from?
Mostly from our network. We also source projects ourselves and look at those coming via referrals.
8) What percentage of investments are in projects that came through cold messages/emails?
No exact statistics, but about 10-20% of deals started from an initial outreach, which developed into a relationship leading to investment.
9) What accelerators or startup conferences do you follow/attend?
We regularly attend Websummit (also hosting our own party there for several years) and Reflect Festival (Cyprus, where our HQ is located).
10) What should be in the presentation to pass initial review?
- Product description
- Competitors and product positioning
- Current P&L numbers
- Unit economics
11) What return on investment do you expect from the projects?
Target 4-5x, with a focus on no project losing money, while some of the portfolio achieves close to 10x.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
No formal criteria, but the leader and team are extremely important and receive significant attention.
13) What "unfair advantage" in projects are you looking for?
Should be some kind of unique value proposition (UVP) that differentiates the product from competitors. Often this is reflected in strong unit economics, which indicate the presence of such a UVP.
#active #b2c #b2b #SeriesA #USD5m
1) How many deals do you plan to make?
Managing $250M under management, we do up to 6-7 deals per year, usually 3-4.
2) How many projects do you review?
Several hundred per year.
3) What is the average check size?
$5-10M.
4) Which stages are you looking at?
Series A and above. Minimum revenue (run-rate) around $3M ARR.
5) What industries, geography?
Generally #agnostic, looking at both B2B and B2C.
Best understood sectors: #B2B #SaaS, #B2C #Apps, #Ecommerce, #Classified.
Hardly any hardware or deeptech (except AI infrastructure or hardware + AI software combinations).
Mostly communicating with founders from Eastern and Central Europe targeting developed markets, though exact geography is less important (#global); sales growth dynamics matter more.
6) Are you ready to be a lead investor?
Prefer to lead, but can also do co-investments.
7) Where did the projects you invested in come from?
Mostly from our network. We also source projects ourselves and look at those coming via referrals.
8) What percentage of investments are in projects that came through cold messages/emails?
No exact statistics, but about 10-20% of deals started from an initial outreach, which developed into a relationship leading to investment.
9) What accelerators or startup conferences do you follow/attend?
We regularly attend Websummit (also hosting our own party there for several years) and Reflect Festival (Cyprus, where our HQ is located).
10) What should be in the presentation to pass initial review?
- Product description
- Competitors and product positioning
- Current P&L numbers
- Unit economics
11) What return on investment do you expect from the projects?
Target 4-5x, with a focus on no project losing money, while some of the portfolio achieves close to 10x.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
No formal criteria, but the leader and team are extremely important and receive significant attention.
13) What "unfair advantage" in projects are you looking for?
Should be some kind of unique value proposition (UVP) that differentiates the product from competitors. Often this is reflected in strong unit economics, which indicate the presence of such a UVP.
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