VC in the CEE

In this episode, we delve into the dynamic world of venture capital in the Baltic region with Jonė Vaitulevičiūtė, Partner at FIRSTPICK, a leading early-stage VC firm that’s reshaping the startup ecosystem in Lithuania, Latvia, and Estonia. Jonė shares her experience driving investment efficiency and fostering innovation across the region’s thriving startup landscape.🔍 Episode Highlights:💼 Evaluating 1,000 Startups Annually: Discover how FIRSTPICK maintains incredible deal-flow efficiency, making investments almost every month in 2024.🌍 Baltic Founders’ Global Mindset: Why startups in the Baltic region are uniquely positioned for global success from day one.📊 2024 Baltic Startup Funding Report: Key insights into pre-seed and seed round dynamics, angel investment trends, and their impact on the regional ecosystem.💡 Wellness Tech Evolution: Exploring how cultural nuances in CEE shape innovation in one of the region’s most exciting verticals.🚀 Gender Equality in VC: Learn about FIRSTPICK’s approach to diversity and why it serves as a model for other firms.This episode is packed with actionable insights for founders, investors, and anyone curious about the fast-paced world of venture capital in the Baltics.🎧 Tune in now to gain a fresh perspective on startup success in one of Europe’s most innovative regions!

In this episode, we dive into the world of venture capital with Diana Stefanova, Managing Partner at BrightCap Ventures, an early-stage VC firm investing in the CEE region with a special focus on Bulgaria and Romania. Diana shares her journey from working with startups in Silicon Valley to scaling VMware’s Bulgarian operations and transitioning to BrightCap, first as a Venture Partner and now as a Managing Partner.🔍 Episode Highlights:💼 Navigating the World of VC: Diana explains the differences between being a Venture Partner and a Managing Partner and how these roles shape investment strategies.💰 Building a $60M Fund: Insights into the challenges and triumphs of raising BrightCap’s second fund and how portfolio exits influenced the process.🌍 Gender Equality in VC: BrightCap sets itself apart with two out of three Managing Partners being women. Diana shares her perspective on gender diversity in the CEE venture ecosystem.🔮 Future of Work Startups: Exploring BrightCap’s investment focus on the future of work, including AI-driven innovations and HR tech.📈 Bulgaria's Startup Boom: A discussion on Sofia's rise as a top CEE startup hub and the impact of success stories like Payhawk on the local ecosystem.Don’t miss this insightful episode packed with valuable lessons for founders, investors, and anyone interested in the evolving venture capital landscape in the CEE region. 🎧

In this episode, we sit down with Jędrzej Szymczyk, Partner at LLW, a law firm providing legal support to both investors and founders in the startup ecosystem. LLW has collaborated with prominent VC funds like Sunfish Partners, Shape VC, and Hard 2 Beat. Jędrzej sheds light on the often-overlooked legal aspects crucial in shaping successful startups.🔍 Episode Highlights:📄 Decoding the Term Sheet: Jędrzej breaks down various legal aspects of the term sheet, explaining how Poland's evolving VC ecosystem has influenced changes in its format and clauses.🔎 The Value of Legal Due Diligence: We delve into the structure of legal due diligence and discuss why findings in the process might be very valuable to founders.🏦 The Role of the Polish Development Fund (PFR): Exploring how PFR plays a pivotal role in fostering Poland's venture capital ecosystem.💰 Alternative Financing Options: For early-stage companies, we discuss alternative financing options beyond typical equity investments, such as SAFEs and convertible notes, from a legal perspective.Tune in to gain insider knowledge from Jędrzej's vast experience in the legal landscape of startups, and get a glimpse of what's happening in the rapidly evolving Polish venture capital scene. Don't miss out on this insightful conversation! 🎧

“In a technical organisation, getting towards excellence, salespeople are less important than technology people. And the reality of this is that if you don’t do sales on your own, I think that chances of being able to succeed are trending towards zero”In this episode, we had a chat with Bogdan Iordache, General Partner at Underline Ventures. The company invests in seed-stage startups and in our conversation Bogdan shares his journey from technical founder to investor as well as his unique perspective on venture capital in Romania and the CEE region. Bogdan is also the founder of How To Web, one of the largest tech conferences in Central and Eastern Europe. The next edition is taking place on October 2nd and 3rd in Bucharest.🔍 Episode highlights:🏗️ The fundraising process as a solo GP and the strategies Bogdan used to attract different types of LPs.📊 Exploring the differences between indexers and deterministic investing—and why one approach is better suited for the CEE region.🚀 The importance of the opportunity discovery phase in startup development, and why it plays a crucial role in the early stages of growth.🌍 The current state of the Romanian VC ecosystem and how it fits into the larger regional landscape.🔎 Why regional reports might not always capture the full potential and nuances of the ecosystem.Tune in to gain insider knowledge from Bogdan’s vast experience in the startup world, and get a glimpse of what’s happening in the rapidly evolving Romanian venture capital scene. Don’t miss out on this insightful conversation! 🎧

“But we are still hungry. And while we will be hungry, I think this ecosystem will be flourishing.”In this episode, we sat down with Andrius Milinavicius, General Partner at Baltic Sandbox Ventures, to uncover the secrets behind their success in supporting startups and raising funds in the competitive Baltic ecosystem. 🇱🇹From helping founders through incubation and acceleration programs to creating investment opportunities, Baltic Sandbox Ventures is playing a pivotal role in the region’s innovation landscape. 🌍🔍 Episode highlights:🚀 How incubation and acceleration programs help Baltic Sandbox Ventures discover top startups.🧠 An inside look at their evaluation process for deep tech and life science startups.⏳ The importance of respecting the time needed for technology development.💡 Why founders in the CEE often achieve more with less funding.🇱🇹 The current landscape of venture capital in Lithuania.Don’t miss out on this insightful conversation! Tune in now to gain invaluable knowledge from Andrius' vast experience, and learn why staying hungry is key to success. 🎧

🎙️ Dive into the entrepreneurial journey with Maciej Zawadziński as he transitions from startup founder to VC investor in Poland's vibrant tech scene. Maciej is a founding partner of Hard2Beat, one of the newest VC fund in the Polish investing ecosystem. Before focusing on investing in startups and helping founders, Maciej was a serial founder and served as CEO of Piwik PRO. Hard2Beat focusses on early-stage startups operating mostly in the B2B and enterprise software sectors.🔍 Discover how Maciej's unique insights can shape your startup strategy and investment understanding:💼 Fundraising Success: Learn how Hard2Beat swiftly raised its initial fund and why the timing was so crucial for their success.🤝 Strategic Partnerships: Understand Maciej’s criteria for selecting potential Limited Partners (LPs). 🚀 Supportive Ecosystem: Explore why Hard2Beat is encouraging their startups to raise non-dilutive funding.🌟 VC vs. Angel: Delve into Maciej's decision to launch a VC fund over continuing as an angel investor.🔄 Dual Perspective: Gain insights into how Maciej’s experiences on both sides of the table enhance his approach to evaluating startups and their founding teams.🔔 Seeking Feedback: Discover why founders should always seek feedback, even after a rejection from investors.📚 Maciej's Book Recommendation: Similarly to Diana from the last episode, Maciej recommends ‘Venture Deals’ by Brad Feld and Jason Mendelson as it is full of insights for both VC investors and startup founders🎥 Catch Maciej in Action: Watch Maciej in action in this reverse pitch video and see Hard2Beat's investment strategy firsthand: Watch Now.