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.
👍1
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.
🔥1
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.
👍1
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.
🔥3👍1
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.
👍3
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.
💯4👍2
Fund #F56
#active #b2c #b2b #seed #USD150k #USD1m
1) How many deals do you plan to make?
Around 15 deals over 3 years.
2) How many projects do you review?
Conversion from reviewed decks to investments is about 3%.
3) What is the average check size?
From 15 to 120 million RUB per project; most comfortable around 50 million RUB.
4) Which stages are you looking at?
This check is for Seed stage. Since we primarily look at deeptech projects, there is no minimum revenue requirement.
5) What industries, geography?
Various deeptech directions (#biotech, #robotics, #AI, #medtech, #spacetech, #agrotech, #foodtech, #newmaterials) with TRL 5+ technologies (TRL = Technology Readiness Level; TRL 5 = prototype tested in near-real conditions).
~80% B2B projects, B2C also occasionally.
All projects in Russia (#Rus; >50% of the team should be based in Russia).
Founders must be affiliated with Russian universities (professors, staff, recent graduates within 3 years).
6) Are you ready to be a lead investor?
Yes, lead investor at Seed stage in the first round. In subsequent rounds, prefer co-investors but can fully close rounds if project shows strong traction (for mature stages, check up to ~1 billion RUB).
7) Where did the projects you invested in come from?
University startup studios, fund partner network, accelerators, conferences. Proactive search is less common and used only for specific narrow requests.
8) What percentage of investments are in projects that came through cold messages/emails?
Almost none; very rare cases. We review submissions and respond when possible.
9) What accelerators or startup conferences do you follow/attend?
University startup studios, Sber500, various PhysTech platforms, conferences with project pitches (Russian Venture Forum, InnoFood, TechPred), VentureGames, etc.
10) What should be in the presentation to pass initial review?
- Communication map (who the founders spoke with, what potential clients/customers said) to show this is a real problem, not imaginary.
- Potential market size.
- Financial dynamics (growth assumptions, projected expenses).
- Technology (trendy, modern tech stack).
11) What return on investment do you expect from the projects?
Approximately 5x over 5 years.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Main requirement: affiliation with a university. Other strict requirements are absent. Deeptech founders usually have strong technological expertise.
13) What "unfair advantage" in projects are you looking for?
Rather considered as competitive advantage. Prefer projects with breakthrough innovation that can either significantly reduce costs or offer a qualitatively different solution. Advantage in deeptech often comes from capital-intensive R&D at early stages.
#active #b2c #b2b #seed #USD150k #USD1m
1) How many deals do you plan to make?
Around 15 deals over 3 years.
2) How many projects do you review?
Conversion from reviewed decks to investments is about 3%.
3) What is the average check size?
From 15 to 120 million RUB per project; most comfortable around 50 million RUB.
4) Which stages are you looking at?
This check is for Seed stage. Since we primarily look at deeptech projects, there is no minimum revenue requirement.
5) What industries, geography?
Various deeptech directions (#biotech, #robotics, #AI, #medtech, #spacetech, #agrotech, #foodtech, #newmaterials) with TRL 5+ technologies (TRL = Technology Readiness Level; TRL 5 = prototype tested in near-real conditions).
~80% B2B projects, B2C also occasionally.
All projects in Russia (#Rus; >50% of the team should be based in Russia).
Founders must be affiliated with Russian universities (professors, staff, recent graduates within 3 years).
6) Are you ready to be a lead investor?
Yes, lead investor at Seed stage in the first round. In subsequent rounds, prefer co-investors but can fully close rounds if project shows strong traction (for mature stages, check up to ~1 billion RUB).
7) Where did the projects you invested in come from?
University startup studios, fund partner network, accelerators, conferences. Proactive search is less common and used only for specific narrow requests.
8) What percentage of investments are in projects that came through cold messages/emails?
Almost none; very rare cases. We review submissions and respond when possible.
9) What accelerators or startup conferences do you follow/attend?
University startup studios, Sber500, various PhysTech platforms, conferences with project pitches (Russian Venture Forum, InnoFood, TechPred), VentureGames, etc.
10) What should be in the presentation to pass initial review?
- Communication map (who the founders spoke with, what potential clients/customers said) to show this is a real problem, not imaginary.
- Potential market size.
- Financial dynamics (growth assumptions, projected expenses).
- Technology (trendy, modern tech stack).
11) What return on investment do you expect from the projects?
Approximately 5x over 5 years.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Main requirement: affiliation with a university. Other strict requirements are absent. Deeptech founders usually have strong technological expertise.
13) What "unfair advantage" in projects are you looking for?
Rather considered as competitive advantage. Prefer projects with breakthrough innovation that can either significantly reduce costs or offer a qualitatively different solution. Advantage in deeptech often comes from capital-intensive R&D at early stages.
👍2
Fund #F57
#active #b2b #preseed #seed #seriesA #USD1m #USD4m
1) How many deals do you plan to make?
7–8 deals per year.
2) How many projects do you review?
At least 1,000 per year.
3) What is the average check size?
$1–4m at entry, depending on the industry.
4) Which stages are you looking at?
From pre-seed to Series A.
Minimum requirements:
- For SaaS projects: MVP and first revenue $1–2m ARR.
- For Deeptech: presence of publications and scientific foundation for product development.
5) What industries, geography?
Industries: Enterprise #SaaS, #Deeptech (serious scientific focus), #Edtech. Only B2B projects.
Geography: primarily US and Europe (#developed). No strict restrictions, but interesting projects in these industries are usually located there.
6) Are you ready to be a lead investor?
Yes, but we usually spend time understanding projects and lead only if we fully understand the industry and can add value.
7) Where did the projects you invested in come from?
80% from network, 20% from proactive search, including accelerators and events.
8) What percentage of investments are in projects that came through cold messages/emails?
None so far. We read cold emails regularly and call projects that seem interesting.
9) What accelerators or startup conferences do you follow/attend?
We follow well-known accelerators like YC (quality and valuations sometimes disappointing), Skydeck, Alchemist.
Conferences: major European events like WebSummit, Slush, plus local events like Bits & Pretzels. Conferences serve as one source for project sourcing.
10) What should be in the presentation to pass initial review?
- Clear presentation of the project’s unique value.
- Team: relevant experience with LinkedIn links.
- Metrics, if available (traction, gross margin, NRR, etc.).
11) What return on investment do you expect from the projects?
Minimum 5x for Series A, minimum 10x for earlier stages.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Preferably 2 founders (technical + business), main requirement is not having 5 founders. No strict exit requirements; relevant expertise is key.
13) What "unfair advantage" in projects are you looking for?
Not required, but nice to have if present.
#active #b2b #preseed #seed #seriesA #USD1m #USD4m
1) How many deals do you plan to make?
7–8 deals per year.
2) How many projects do you review?
At least 1,000 per year.
3) What is the average check size?
$1–4m at entry, depending on the industry.
4) Which stages are you looking at?
From pre-seed to Series A.
Minimum requirements:
- For SaaS projects: MVP and first revenue $1–2m ARR.
- For Deeptech: presence of publications and scientific foundation for product development.
5) What industries, geography?
Industries: Enterprise #SaaS, #Deeptech (serious scientific focus), #Edtech. Only B2B projects.
Geography: primarily US and Europe (#developed). No strict restrictions, but interesting projects in these industries are usually located there.
6) Are you ready to be a lead investor?
Yes, but we usually spend time understanding projects and lead only if we fully understand the industry and can add value.
7) Where did the projects you invested in come from?
80% from network, 20% from proactive search, including accelerators and events.
8) What percentage of investments are in projects that came through cold messages/emails?
None so far. We read cold emails regularly and call projects that seem interesting.
9) What accelerators or startup conferences do you follow/attend?
We follow well-known accelerators like YC (quality and valuations sometimes disappointing), Skydeck, Alchemist.
Conferences: major European events like WebSummit, Slush, plus local events like Bits & Pretzels. Conferences serve as one source for project sourcing.
10) What should be in the presentation to pass initial review?
- Clear presentation of the project’s unique value.
- Team: relevant experience with LinkedIn links.
- Metrics, if available (traction, gross margin, NRR, etc.).
11) What return on investment do you expect from the projects?
Minimum 5x for Series A, minimum 10x for earlier stages.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Preferably 2 founders (technical + business), main requirement is not having 5 founders. No strict exit requirements; relevant expertise is key.
13) What "unfair advantage" in projects are you looking for?
Not required, but nice to have if present.
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Fund #F58
#active #b2c #b2b #preseed #seed #seriesA #USD1m #USD2m
1) How many deals do you plan to make?
5–6 deals per year.
2) How many projects do you review?
We don’t track exact numbers; conversion is like most funds—lots of low-quality inbound, so overall conversion from top of funnel is low.
3) What is the average check size?
$1–2m at entry for a meaningful minority stake.
4) Which stages are you looking at?
From pre-seed to Series A. Revenue is not required.
5) What industries, geography?
#Games and #Entertainment.
Within gaming, we look at both game studios and ecosystem projects (social networks, recommendation services, etc.).
Mostly B2C, B2B is also acceptable.
We do not invest in hyper-casual games, casinos, blockchain/web3.
Geography: #global with partial focus on Eastern Europe.
6) Are you ready to be a lead investor?
Yes.
7) Where did the projects you invested in come from?
Mainly from industry networks, often from founders of portfolio companies.
8) What percentage of investments are in projects that came through cold messages/emails?
One case so far. We get many emails (up to 15 per day), mostly low-quality, so we respond selectively to projects that attract interest.
9) What accelerators or startup conferences do you follow/attend?
We use accelerators and events mainly for branding purposes, not as a primary sourcing channel.
10) What should be in the presentation to pass initial review?
- Team (previous experience and track record)
- Product (idea and target audience)
- Niche (market size and level of competition)
- Strategy (future roadmap beyond the first product)
11) What return on investment do you expect from the projects?
Minimum 10x for venture-style investments. Sometimes we consider project-based financing, where we focus more on cash flow.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Preferably more than one founder, but not critical. Exits are a plus, but relevant project experience is also sufficient.
13) What "unfair advantage" in projects are you looking for?
Primarily strong teams with unique experience that distinguishes them from others.
#active #b2c #b2b #preseed #seed #seriesA #USD1m #USD2m
1) How many deals do you plan to make?
5–6 deals per year.
2) How many projects do you review?
We don’t track exact numbers; conversion is like most funds—lots of low-quality inbound, so overall conversion from top of funnel is low.
3) What is the average check size?
$1–2m at entry for a meaningful minority stake.
4) Which stages are you looking at?
From pre-seed to Series A. Revenue is not required.
5) What industries, geography?
#Games and #Entertainment.
Within gaming, we look at both game studios and ecosystem projects (social networks, recommendation services, etc.).
Mostly B2C, B2B is also acceptable.
We do not invest in hyper-casual games, casinos, blockchain/web3.
Geography: #global with partial focus on Eastern Europe.
6) Are you ready to be a lead investor?
Yes.
7) Where did the projects you invested in come from?
Mainly from industry networks, often from founders of portfolio companies.
8) What percentage of investments are in projects that came through cold messages/emails?
One case so far. We get many emails (up to 15 per day), mostly low-quality, so we respond selectively to projects that attract interest.
9) What accelerators or startup conferences do you follow/attend?
We use accelerators and events mainly for branding purposes, not as a primary sourcing channel.
10) What should be in the presentation to pass initial review?
- Team (previous experience and track record)
- Product (idea and target audience)
- Niche (market size and level of competition)
- Strategy (future roadmap beyond the first product)
11) What return on investment do you expect from the projects?
Minimum 10x for venture-style investments. Sometimes we consider project-based financing, where we focus more on cash flow.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Preferably more than one founder, but not critical. Exits are a plus, but relevant project experience is also sufficient.
13) What "unfair advantage" in projects are you looking for?
Primarily strong teams with unique experience that distinguishes them from others.
❤1👍1
Fund #F59
#NOTactive #b2c #b2b #seed #USD100k #USD500k
1) How many deals do you plan to make?
About 6–7 deals per year, but we aim to increase this pace in the future.
2) Out of 100 decks, how many projects do you invest in?
We aim to build a high-quality pipeline initially and invest in at least 5% of reviewed projects.
3) What is the average check size?
$100–500k for the initial investment, up to $2m for follow-on rounds.
4) Which stages are you looking at?
Seed – late Seed at entry.
5) What industries, geography?
US, LATAM, SEA. #global
Industries are generally #agnostic, with strongest understanding in #ecommerce, #edtech, and #deeptech related to software.
6) Are you ready to be a lead investor?
Currently prefer not to lead.
7) Where did the projects you invested in come from?
60% through network, 30% via our IT-specialist community, 10% via proactive database search.
8) What percentage of investments are in projects that came through cold messages/emails?
We read cold emails and schedule calls, but haven’t invested this way yet, though it’s possible in the future.
9) What accelerators or startup conferences do you follow/attend?
These sources are mainly used to track trends rather than for direct sourcing.
10) What should be in the presentation to pass initial review?
- Team (does it meet formal criteria and solve the problem stated)
- For B2B projects, sales expertise and clear understanding of the ICP (Ideal Client Profile) – which employee the project targets and which pain point it addresses
- How the team identified the problem and how well they understand it, plus the market size potential
- Tech moat (what is hard for competitors to replicate and why)
- Traction (important to see consistent product improvement)
- Valuation (should be reasonable for the stage)
11) What return on investment do you expect from the projects?
Minimum 10x ideally, but flexible depending on the situation.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
No strict requirements, but at least one founder should have Big Tech experience (worked in a large tech company).
Someone in the core team should have industry experience relevant to the startup.
For B2B projects, at least one founder must have sales expertise.
13) What "unfair advantage" in projects are you looking for?
We refer to this as a tech moat, as mentioned above.
#NOTactive #b2c #b2b #seed #USD100k #USD500k
1) How many deals do you plan to make?
About 6–7 deals per year, but we aim to increase this pace in the future.
2) Out of 100 decks, how many projects do you invest in?
We aim to build a high-quality pipeline initially and invest in at least 5% of reviewed projects.
3) What is the average check size?
$100–500k for the initial investment, up to $2m for follow-on rounds.
4) Which stages are you looking at?
Seed – late Seed at entry.
5) What industries, geography?
US, LATAM, SEA. #global
Industries are generally #agnostic, with strongest understanding in #ecommerce, #edtech, and #deeptech related to software.
6) Are you ready to be a lead investor?
Currently prefer not to lead.
7) Where did the projects you invested in come from?
60% through network, 30% via our IT-specialist community, 10% via proactive database search.
8) What percentage of investments are in projects that came through cold messages/emails?
We read cold emails and schedule calls, but haven’t invested this way yet, though it’s possible in the future.
9) What accelerators or startup conferences do you follow/attend?
These sources are mainly used to track trends rather than for direct sourcing.
10) What should be in the presentation to pass initial review?
- Team (does it meet formal criteria and solve the problem stated)
- For B2B projects, sales expertise and clear understanding of the ICP (Ideal Client Profile) – which employee the project targets and which pain point it addresses
- How the team identified the problem and how well they understand it, plus the market size potential
- Tech moat (what is hard for competitors to replicate and why)
- Traction (important to see consistent product improvement)
- Valuation (should be reasonable for the stage)
11) What return on investment do you expect from the projects?
Minimum 10x ideally, but flexible depending on the situation.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
No strict requirements, but at least one founder should have Big Tech experience (worked in a large tech company).
Someone in the core team should have industry experience relevant to the startup.
For B2B projects, at least one founder must have sales expertise.
13) What "unfair advantage" in projects are you looking for?
We refer to this as a tech moat, as mentioned above.
👍1
Fund #F60
#active #b2c #b2b #preseed #seed #USD100k
1) How many deals do you plan to make?
5-10 direct investments per year.
2) Out of 100 decks how many projects do you invest in?
Less than 1%.
3) What is the average check size?
$100k.
4) Which stages are you looking at?
Pre-seed, Seed and can follow up until Series C.
5) What industries, geography?
We are industry #agnostic, can look at B2C and B2B projects, but invest only in companies incorporated in Netherlands or Germany #developed.
6) Are you ready to be a lead investor?
Yes, sometimes.
7) Where did the projects you invested in come from?
We have a strong brand, and thus we receive a lot of inbound applications (500 applications per week), however we search for projects ourselves as well.
8) What percentage of investments are in projects that came through cold messages/emails?
Many.
9) What accelerators or startup conferences do you follow/attend?
We have our own incubator/residency program.
10) What should be in the presentation to pass initial review?
We mostly look at the team, their skills, domain expertise, and network.
We would also like to see a balanced cap table and clear investment proposition.
11) What return on investment do you expect from the projects?
30x - we are looking for unicorns.
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
No strict rules, but 2-3 founders are preferable.
13) What "unfair advantage" in projects are you looking for?
Team experience and capabilities are the first priority for us.
#active #b2c #b2b #preseed #seed #USD100k
1) How many deals do you plan to make?
5-10 direct investments per year.
2) Out of 100 decks how many projects do you invest in?
Less than 1%.
3) What is the average check size?
$100k.
4) Which stages are you looking at?
Pre-seed, Seed and can follow up until Series C.
5) What industries, geography?
We are industry #agnostic, can look at B2C and B2B projects, but invest only in companies incorporated in Netherlands or Germany #developed.
6) Are you ready to be a lead investor?
Yes, sometimes.
7) Where did the projects you invested in come from?
We have a strong brand, and thus we receive a lot of inbound applications (500 applications per week), however we search for projects ourselves as well.
8) What percentage of investments are in projects that came through cold messages/emails?
Many.
9) What accelerators or startup conferences do you follow/attend?
We have our own incubator/residency program.
10) What should be in the presentation to pass initial review?
We mostly look at the team, their skills, domain expertise, and network.
We would also like to see a balanced cap table and clear investment proposition.
11) What return on investment do you expect from the projects?
30x - we are looking for unicorns.
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
No strict rules, but 2-3 founders are preferable.
13) What "unfair advantage" in projects are you looking for?
Team experience and capabilities are the first priority for us.
👍3
Fund #F61
#active #b2c #b2b #preseed #seed #USD50k #USD150k
1) How many deals do you plan to make?
The fund is almost fully invested, but we may still do 3–7 deals this year.
2) Out of 100 decks how many projects do you invest in?
We invest in about 1 out of every 50 decks we review.
Most projects come through recommendations, so the inbound pipeline is quite high-quality.
3) What is the average check size?
$50–150k.
4) Which stages are you looking at?
Early stages – pre-seed and seed.
We look at projects with minimum revenue of $5–10k MRR. For strong repeat founders, exceptions can be made to consider projects without revenue.
5) What industries, geography?
Mainly #Healthtech, #Fintech, #SharingEconomy but also open to other sectors (#agnostic). We do not consider crypto or deeptech.
Geography focus is global, with developed markets in the US and Europe being preferred. #developed
6) Are you ready to be a lead investor?
Usually no, but there are exceptions.
7) Where did the projects you invested in come from?
Mainly recommendations via our network (other funds, LPs, founder connections, brokers), fewer from conferences or cold emails.
8) What percentage of investments are in projects that came through cold messages/emails?
Cold projects are rare. We read the emails, and have even made one deal (one of the best in the portfolio), and plan another. So this channel works for us.
9) What accelerators or startup conferences do you follow/attend?
Primarily conferences such as Vivatech, Websummit, Sifted, Reflect (Cyprus). Not actively following accelerators.
10) What should be in the presentation to pass initial review?
We look at:
- Does the market fall within our areas of interest?
- Can the idea and market potential be understood quickly?
- How strong is the founding team in terms of execution potential?
11) What return on investment do you expect from the projects?
Minimum 10x per deal.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
No formal requirements, but multiple founders are preferred.
If founders are Russian-speaking, all should live abroad.
13) What "unfair advantage" in projects are you looking for?
Primarily, we focus on the competitive advantages of the project.
#active #b2c #b2b #preseed #seed #USD50k #USD150k
1) How many deals do you plan to make?
The fund is almost fully invested, but we may still do 3–7 deals this year.
2) Out of 100 decks how many projects do you invest in?
We invest in about 1 out of every 50 decks we review.
Most projects come through recommendations, so the inbound pipeline is quite high-quality.
3) What is the average check size?
$50–150k.
4) Which stages are you looking at?
Early stages – pre-seed and seed.
We look at projects with minimum revenue of $5–10k MRR. For strong repeat founders, exceptions can be made to consider projects without revenue.
5) What industries, geography?
Mainly #Healthtech, #Fintech, #SharingEconomy but also open to other sectors (#agnostic). We do not consider crypto or deeptech.
Geography focus is global, with developed markets in the US and Europe being preferred. #developed
6) Are you ready to be a lead investor?
Usually no, but there are exceptions.
7) Where did the projects you invested in come from?
Mainly recommendations via our network (other funds, LPs, founder connections, brokers), fewer from conferences or cold emails.
8) What percentage of investments are in projects that came through cold messages/emails?
Cold projects are rare. We read the emails, and have even made one deal (one of the best in the portfolio), and plan another. So this channel works for us.
9) What accelerators or startup conferences do you follow/attend?
Primarily conferences such as Vivatech, Websummit, Sifted, Reflect (Cyprus). Not actively following accelerators.
10) What should be in the presentation to pass initial review?
We look at:
- Does the market fall within our areas of interest?
- Can the idea and market potential be understood quickly?
- How strong is the founding team in terms of execution potential?
11) What return on investment do you expect from the projects?
Minimum 10x per deal.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
No formal requirements, but multiple founders are preferred.
If founders are Russian-speaking, all should live abroad.
13) What "unfair advantage" in projects are you looking for?
Primarily, we focus on the competitive advantages of the project.
👍2❤1