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.
👍2🔥1
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
Fund #F62
#active #b2b #seed #USD500k
1) How many deals do you plan to make?
About 8–10 per year.
2) Out of 100 decks how many projects do you invest in?
Approximately 100–200 decks per investment.
3) What is the average check size?
$500k.
4) Which stages are you looking at?
Seed with minimum revenue around $30–50k MRR.
5) What industries, geography?
#B2B: #SaaS, #Fintech, #FutureofWork, #Productivity tools, digital #Healthtech.
Geography: US, EU, UK. #developed
B2C projects are generally not considered.
6) Are you ready to be a lead investor?
No.
7) Where did the projects you invested in come from?
Mainly from our network.
8) What percentage of investments are in projects that came through cold messages/emails?
So far, none. Incoming messages are read but treated skeptically, as the quality of such projects is usually low.
9) What accelerators or startup conferences do you follow/attend?
We attend conferences regularly, engage with startups, and include them in our pipeline, but have not invested in such projects yet.
Examples: SaaStr (London & San Francisco), TechCrunch, Websummit, TechWeek (London).
We interact with leading accelerators, but do not focus on them, as our inbound flow is already large.
10) What should be in the presentation to pass initial review?
- Description of the team’s previous experience with LinkedIn links to verify credibility
- Well-designed visual presentation
- Traction
- Problem/solution
- Market slide is less important, as most projects overstate market size
11) What return on investment do you expect from the projects?
Minimum 10x, accounting for dilution.
Focus on outliers that can deliver 100x. Projects with potential below 10x (after dilution) are not considered.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
No formal requirements. Founder couples are not considered. Solo founders are approached cautiously; repeat founders are a definite plus.
13) What "unfair advantage" in projects are you looking for?
This is important, one of the key questions. We usually ask about the competitive advantage/moat and its defensibility.
We want to understand whether the project has an immediate edge and whether it can be sustained in the future.
#active #b2b #seed #USD500k
1) How many deals do you plan to make?
About 8–10 per year.
2) Out of 100 decks how many projects do you invest in?
Approximately 100–200 decks per investment.
3) What is the average check size?
$500k.
4) Which stages are you looking at?
Seed with minimum revenue around $30–50k MRR.
5) What industries, geography?
#B2B: #SaaS, #Fintech, #FutureofWork, #Productivity tools, digital #Healthtech.
Geography: US, EU, UK. #developed
B2C projects are generally not considered.
6) Are you ready to be a lead investor?
No.
7) Where did the projects you invested in come from?
Mainly from our network.
8) What percentage of investments are in projects that came through cold messages/emails?
So far, none. Incoming messages are read but treated skeptically, as the quality of such projects is usually low.
9) What accelerators or startup conferences do you follow/attend?
We attend conferences regularly, engage with startups, and include them in our pipeline, but have not invested in such projects yet.
Examples: SaaStr (London & San Francisco), TechCrunch, Websummit, TechWeek (London).
We interact with leading accelerators, but do not focus on them, as our inbound flow is already large.
10) What should be in the presentation to pass initial review?
- Description of the team’s previous experience with LinkedIn links to verify credibility
- Well-designed visual presentation
- Traction
- Problem/solution
- Market slide is less important, as most projects overstate market size
11) What return on investment do you expect from the projects?
Minimum 10x, accounting for dilution.
Focus on outliers that can deliver 100x. Projects with potential below 10x (after dilution) are not considered.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
No formal requirements. Founder couples are not considered. Solo founders are approached cautiously; repeat founders are a definite plus.
13) What "unfair advantage" in projects are you looking for?
This is important, one of the key questions. We usually ask about the competitive advantage/moat and its defensibility.
We want to understand whether the project has an immediate edge and whether it can be sustained in the future.
👍2🤮1
Fund #F63
#active #b2c #b2b #seed #USD300k #USD1m
1) How many deals do you plan to make?
We make on average 1 deal per month.
2) Out of 100 decks how many projects do you invest in?
Our conversion rate is about 0,1-0,5%.
3) What is the average check size?
$300k - $1m. We make follow-ons, but do not lead them usually.
4) Which stages are you looking at?
Pre-seed and Seed stages.
5) What industries, geography?
We invest in companies from South and Central Eastern Europe (#emerging) in the following sectors: #Fintech, #Helthcare, #FutureOfWork, #Climate and #Sustainability.
90% of our projects is in B2B space, but we may occasionally consider B2C startups as well.
6) Are you ready to be a lead investor?
Yes.
7) Where did the projects you invested in come from?
We have a diversified strategy, including referrals, accelerators, conferences, outbound search, community of 300 mentors and co-investments with other VC funds.
8) What percentage of investments are in projects that came through cold messages/emails?
Probably around 5%. We review cold letters regularly, but the probability of investment is lower than in the case of projects with references, since at early stages, references are one of the key elements of due diligence.
9) What accelerators or startup conferences do you follow/attend?
We look at projects from Founder Institute, Startup Wise Guys, ReaktorX (Poland), Techstars, and other local accelerators.
We visit local conferences as well, such as Web Summit Bulgaria, Panathenaia (Greece), etc.
10) What should be in the presentation to pass initial review?
- the project fits our thesis
- we can quickly understand what the company does
- there is no unnecessary stuff in the deck
- what is special about the team, detailed credentials
- how much the project is raising and whether it's relevant to the current stage
11) What return on investment do you expect from the projects?
At least 30x.
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
No strict requirements.
13) What "unfair advantage" in projects are you looking for?
We prefer to use the term competitive advantage or moat, which will protect the business from being disrupted in the long term. If there is no moat currently, we need to understand how it will be created in the future.
#active #b2c #b2b #seed #USD300k #USD1m
1) How many deals do you plan to make?
We make on average 1 deal per month.
2) Out of 100 decks how many projects do you invest in?
Our conversion rate is about 0,1-0,5%.
3) What is the average check size?
$300k - $1m. We make follow-ons, but do not lead them usually.
4) Which stages are you looking at?
Pre-seed and Seed stages.
5) What industries, geography?
We invest in companies from South and Central Eastern Europe (#emerging) in the following sectors: #Fintech, #Helthcare, #FutureOfWork, #Climate and #Sustainability.
90% of our projects is in B2B space, but we may occasionally consider B2C startups as well.
6) Are you ready to be a lead investor?
Yes.
7) Where did the projects you invested in come from?
We have a diversified strategy, including referrals, accelerators, conferences, outbound search, community of 300 mentors and co-investments with other VC funds.
8) What percentage of investments are in projects that came through cold messages/emails?
Probably around 5%. We review cold letters regularly, but the probability of investment is lower than in the case of projects with references, since at early stages, references are one of the key elements of due diligence.
9) What accelerators or startup conferences do you follow/attend?
We look at projects from Founder Institute, Startup Wise Guys, ReaktorX (Poland), Techstars, and other local accelerators.
We visit local conferences as well, such as Web Summit Bulgaria, Panathenaia (Greece), etc.
10) What should be in the presentation to pass initial review?
- the project fits our thesis
- we can quickly understand what the company does
- there is no unnecessary stuff in the deck
- what is special about the team, detailed credentials
- how much the project is raising and whether it's relevant to the current stage
11) What return on investment do you expect from the projects?
At least 30x.
12) How important is the number of founders (1 or 2) or whether it's their first project or not?
No strict requirements.
13) What "unfair advantage" in projects are you looking for?
We prefer to use the term competitive advantage or moat, which will protect the business from being disrupted in the long term. If there is no moat currently, we need to understand how it will be created in the future.
👍2
Fund #F64
#active #b2b #seed #USD1m #USD5m
1) How many deals do you plan to make?
Currently in the active stage of our third fund, focused on early stages. We do about 5–6 new deals per year and roughly the same number of follow-on deals.
2) Out of 100 decks how many projects do you invest in?
About 100 projects per investment.
3) What is the average check size?
Initial: $1–5m.
Follow-on: an additional $5–10m.
4) Which stages are you looking at?
Seed – Series A.
We usually look for projects with proven PMF and $50k MRR, but also consider projects without revenue that have successful pilots with large clients.
5) What industries, geography?
Main focus: B2B in #Cybersecurity, #Healthtech, #Enterprise #Software.
A small portion of the fund is reserved for outlier deals in other sectors, including B2C, but these must be exceptional projects.
We target projects from Israel and the USA, aimed at the US market. #developed
6) Are you ready to be a lead investor?
We always aim to lead and take a board seat. Detailed DD is done for each project, so deal timelines are typically 2–3 months for Seed and 4–5 months for Series A.
7) Where did the projects you invested in come from?
In previous funds, we made over 70 investments, so we are well embedded in founder and investor communities, which bring new deals.
We also proactively search for deals ourselves, but ~90% still comes from our network.
8) What percentage of investments are in projects that came through cold messages/emails?
In our first fund, we looked at cold emails but never invested. In later funds, we stopped spending time on them, as the quality is generally very low.
9) What accelerators or startup conferences do you follow/attend?
We attend many conferences, e.g., WebSummit, Slush, TechCrunch, DLD (Israel).
We review projects from accelerators like Microsoft Ventures Accelerator Tel Aviv or Citi Bank accelerator program in Israel.
Also interested in projects that received grants from the “Chief Scientist’s Office.” In Israel, almost every ministry has a department that supports specialized innovative companies.
10) What should be in the presentation to pass initial review?
We primarily evaluate:
- Market size and growth dynamics
- Team capability to deliver the project
11) What return on investment do you expect from the projects?
Each fund has ~25 portfolio companies, each of which should have the potential to return the entire fund. We only target potential unicorns, aiming for 30–50x ROI on initial investments.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
We invest only in repeat founders willing to live in the project’s target geography. We don’t consider founder couples. Solo founders are approached cautiously; 2+ founders are preferred.
Important qualities: general soundness, willingness to listen, and ability to compromise.
13) What "unfair advantage" in projects are you looking for?
We focus more on:
- How the project differentiates from competitors
- Why the team believes it can outpace the market
- Whether the team understands the steps needed to make the business more attractive for future investment or acquisition, which would increase its valuation multiple over time.
#active #b2b #seed #USD1m #USD5m
1) How many deals do you plan to make?
Currently in the active stage of our third fund, focused on early stages. We do about 5–6 new deals per year and roughly the same number of follow-on deals.
2) Out of 100 decks how many projects do you invest in?
About 100 projects per investment.
3) What is the average check size?
Initial: $1–5m.
Follow-on: an additional $5–10m.
4) Which stages are you looking at?
Seed – Series A.
We usually look for projects with proven PMF and $50k MRR, but also consider projects without revenue that have successful pilots with large clients.
5) What industries, geography?
Main focus: B2B in #Cybersecurity, #Healthtech, #Enterprise #Software.
A small portion of the fund is reserved for outlier deals in other sectors, including B2C, but these must be exceptional projects.
We target projects from Israel and the USA, aimed at the US market. #developed
6) Are you ready to be a lead investor?
We always aim to lead and take a board seat. Detailed DD is done for each project, so deal timelines are typically 2–3 months for Seed and 4–5 months for Series A.
7) Where did the projects you invested in come from?
In previous funds, we made over 70 investments, so we are well embedded in founder and investor communities, which bring new deals.
We also proactively search for deals ourselves, but ~90% still comes from our network.
8) What percentage of investments are in projects that came through cold messages/emails?
In our first fund, we looked at cold emails but never invested. In later funds, we stopped spending time on them, as the quality is generally very low.
9) What accelerators or startup conferences do you follow/attend?
We attend many conferences, e.g., WebSummit, Slush, TechCrunch, DLD (Israel).
We review projects from accelerators like Microsoft Ventures Accelerator Tel Aviv or Citi Bank accelerator program in Israel.
Also interested in projects that received grants from the “Chief Scientist’s Office.” In Israel, almost every ministry has a department that supports specialized innovative companies.
10) What should be in the presentation to pass initial review?
We primarily evaluate:
- Market size and growth dynamics
- Team capability to deliver the project
11) What return on investment do you expect from the projects?
Each fund has ~25 portfolio companies, each of which should have the potential to return the entire fund. We only target potential unicorns, aiming for 30–50x ROI on initial investments.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
We invest only in repeat founders willing to live in the project’s target geography. We don’t consider founder couples. Solo founders are approached cautiously; 2+ founders are preferred.
Important qualities: general soundness, willingness to listen, and ability to compromise.
13) What "unfair advantage" in projects are you looking for?
We focus more on:
- How the project differentiates from competitors
- Why the team believes it can outpace the market
- Whether the team understands the steps needed to make the business more attractive for future investment or acquisition, which would increase its valuation multiple over time.
👍3
Fund #F65
#active #b2c #b2b #seed #USD100k #USD1m
1) How many deals do you plan to make?
3–4 deals per year.
2) Out of 100 decks how many projects do you invest in?
About 50 projects per investment.
3) What is the average check size?
$100k–$1m.
4) Which stages are you looking at?
We can invest at the idea stage, but we still prefer not to be the very first investor.
5) What industries, geography?
We mainly look at projects in the UK, Europe, Israel, and the USA (#developed).
Industry focus: #Software, #Fintech, #AI, #SaaS, #Deeptech (IT).
We can consider #Crypto if returns are in fiat rather than tokens.
We don’t invest in deeptech related to new materials, hardware, healthcare, or devices.
We like projects with roll-up (market consolidation) strategies.
6) Are you ready to be a lead investor?
We can, but prefer a specialized fund to lead.
7) Where did the projects you invested in come from?
Co-investors, network. Sometimes we reach out to startups directly.
8) What percentage of investments are in projects that came through cold messages/emails?
We receive inquiries via LinkedIn and email, but we don’t actively review them; this is a low priority.
9) What accelerators or startup conferences do you follow/attend?
We attend events like WebSummit, Slush, Vivatech, London TechWeek.
We don’t systematically work with accelerators.
10) What should be in the presentation to pass initial review?
- Founder competencies
- Reality of the problem
- Proof that a “blue ocean” market exists
- Competitor map and competitive advantages
11) What return on investment do you expect from the projects?
With follow-ons considered, each project should ideally return the fund; expected ROI = 30–40x from entry valuation.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Preferably not solo. First-time founders are acceptable (sometimes even preferred).
We don’t invest in founders from consulting backgrounds unless they have co-founders with industry experience.
13) What "unfair advantage" in projects are you looking for?
We look for competitive advantages, but they don’t have to be “unfair.”
#active #b2c #b2b #seed #USD100k #USD1m
1) How many deals do you plan to make?
3–4 deals per year.
2) Out of 100 decks how many projects do you invest in?
About 50 projects per investment.
3) What is the average check size?
$100k–$1m.
4) Which stages are you looking at?
We can invest at the idea stage, but we still prefer not to be the very first investor.
5) What industries, geography?
We mainly look at projects in the UK, Europe, Israel, and the USA (#developed).
Industry focus: #Software, #Fintech, #AI, #SaaS, #Deeptech (IT).
We can consider #Crypto if returns are in fiat rather than tokens.
We don’t invest in deeptech related to new materials, hardware, healthcare, or devices.
We like projects with roll-up (market consolidation) strategies.
6) Are you ready to be a lead investor?
We can, but prefer a specialized fund to lead.
7) Where did the projects you invested in come from?
Co-investors, network. Sometimes we reach out to startups directly.
8) What percentage of investments are in projects that came through cold messages/emails?
We receive inquiries via LinkedIn and email, but we don’t actively review them; this is a low priority.
9) What accelerators or startup conferences do you follow/attend?
We attend events like WebSummit, Slush, Vivatech, London TechWeek.
We don’t systematically work with accelerators.
10) What should be in the presentation to pass initial review?
- Founder competencies
- Reality of the problem
- Proof that a “blue ocean” market exists
- Competitor map and competitive advantages
11) What return on investment do you expect from the projects?
With follow-ons considered, each project should ideally return the fund; expected ROI = 30–40x from entry valuation.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
Preferably not solo. First-time founders are acceptable (sometimes even preferred).
We don’t invest in founders from consulting backgrounds unless they have co-founders with industry experience.
13) What "unfair advantage" in projects are you looking for?
We look for competitive advantages, but they don’t have to be “unfair.”
👍2
Hi everyone!
Based on the responses collected in the channel, I compiled some statistics on how funds typically responded to various questions, prepared a presentation on it, and recently shared it with audiences in several communities:
Tech founders community MFS Club
Business angels club Prosto VC
IT community Hegai
You can watch my presentation in the Hegai community by referring to my post and requesting the video link from @irina_network.
In addition to me, Evgeny Protasenko from 271.vc also spoke, sharing interesting insights on investment trends for 2025.
I’m ready to present again, so if you know any communities or audiences that might find this interesting, feel free to message me. Thanks!
Based on the responses collected in the channel, I compiled some statistics on how funds typically responded to various questions, prepared a presentation on it, and recently shared it with audiences in several communities:
Tech founders community MFS Club
Business angels club Prosto VC
IT community Hegai
You can watch my presentation in the Hegai community by referring to my post and requesting the video link from @irina_network.
In addition to me, Evgeny Protasenko from 271.vc also spoke, sharing interesting insights on investment trends for 2025.
I’m ready to present again, so if you know any communities or audiences that might find this interesting, feel free to message me. Thanks!
❤10👍6
Fund #F66
#active #b2c #b2b #preseed #USD200k
1) How many deals do you plan to make?
We are not a classic fund but an investment structure combining a venture builder (developing projects internally) and external investments.
We aim to launch/invest in 2–3 projects per year.
2) Out of 100 decks how many projects do you invest in?
We generate around 50 ideas per year, of which 5–7 go into deep validation.
3) What is the average check size?
We allocate $150–200k for the initial launch of a project.
In the next round, we aim to bring in external funding to confirm market relevance.
4) Which stages are you looking at?
Idea-stage projects.
We become majority shareholders and essentially co-founders.
5) What industries, geography?
We operate in Russia (#Rus) and MENA (#Emerging).
We are interested in projects related to #AI and #Ecommerce.
6) Are you ready to be a lead investor?
Yes, essentially we are always the only investor at the start.
7) Where did the projects you invested in come from?
We have a related structure that provides IT outsourcing and business builder services for corporate clients in Russia, which generates many potential product ideas.
Some projects also come from the shareholders’ network.
8) What percentage of investments are in projects that came through cold messages/emails?
We read cold emails and sometimes take calls, but so far there have been no investments from them.
9) What accelerators or startup conferences do you follow/attend?
We don’t really use these sources for project sourcing.
10) What should be in the presentation to pass initial review?
We look at the basics (product/market/technology/team).
We pay attention to red flags (e.g., founder couples, info-business backgrounds, problematic regions).
11) What return on investment do you expect from the projects?
It is important for us that the project reaches breakeven within 1.5 years, so we prefer non-capital-intensive businesses with potential future dividend streams.
For dividend-driven models, we expect 3–5x over 3–5 years.
For classic venture models, at least 10x.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
These factors are not decisive.
What matters is strong background (education + industry experience) and understanding of how to build business processes.
A PhD or other advanced degrees are a plus.
It is also important that the team is working full-time on the project.
13) What "unfair advantage" in projects are you looking for?
We create it ourselves, since we have expertise in AI and IT development — we can quickly build an MVP, outsource back-office functions, and create conditions for rapid growth.
#active #b2c #b2b #preseed #USD200k
1) How many deals do you plan to make?
We are not a classic fund but an investment structure combining a venture builder (developing projects internally) and external investments.
We aim to launch/invest in 2–3 projects per year.
2) Out of 100 decks how many projects do you invest in?
We generate around 50 ideas per year, of which 5–7 go into deep validation.
3) What is the average check size?
We allocate $150–200k for the initial launch of a project.
In the next round, we aim to bring in external funding to confirm market relevance.
4) Which stages are you looking at?
Idea-stage projects.
We become majority shareholders and essentially co-founders.
5) What industries, geography?
We operate in Russia (#Rus) and MENA (#Emerging).
We are interested in projects related to #AI and #Ecommerce.
6) Are you ready to be a lead investor?
Yes, essentially we are always the only investor at the start.
7) Where did the projects you invested in come from?
We have a related structure that provides IT outsourcing and business builder services for corporate clients in Russia, which generates many potential product ideas.
Some projects also come from the shareholders’ network.
8) What percentage of investments are in projects that came through cold messages/emails?
We read cold emails and sometimes take calls, but so far there have been no investments from them.
9) What accelerators or startup conferences do you follow/attend?
We don’t really use these sources for project sourcing.
10) What should be in the presentation to pass initial review?
We look at the basics (product/market/technology/team).
We pay attention to red flags (e.g., founder couples, info-business backgrounds, problematic regions).
11) What return on investment do you expect from the projects?
It is important for us that the project reaches breakeven within 1.5 years, so we prefer non-capital-intensive businesses with potential future dividend streams.
For dividend-driven models, we expect 3–5x over 3–5 years.
For classic venture models, at least 10x.
12) How important is the number of founders (1 or 2) or whether it’s their first project or not?
These factors are not decisive.
What matters is strong background (education + industry experience) and understanding of how to build business processes.
A PhD or other advanced degrees are a plus.
It is also important that the team is working full-time on the project.
13) What "unfair advantage" in projects are you looking for?
We create it ourselves, since we have expertise in AI and IT development — we can quickly build an MVP, outsource back-office functions, and create conditions for rapid growth.
👍6