VC in the CEE

🎄✨ Merry Christmas from VC in the CEE team! ✨🎄 As we wrap up an incredible year of insightful conversations, inspiring stories, and actionable lessons, we want to take a moment to thank you—our listeners, guests, and supporters—for being part of this journey. 2024 has been a year of growth, discovery, and connecting with amazing individuals who are shaping the future of the venture capital and innovation sector, especially in the CEE region. Your enthusiasm and engagement fuel our passion for bringing you more valuable content for each episode. This holiday season, we wish you: 🎁 Moments of joy and celebration (like closing the first fundraising round or nailing the pitch in front of the investors). 🌟 New ideas and breakthroughs to inspire your 2025 goals (like working on your startup ideas or investing in them). 🤝 Collaborations that spark success and innovation (you never know how a random meeting might change your trajectory. Walter Isaacson described it very well in his book “Innovators”). Let’s keep building, dreaming, and investing in a brighter tomorrow. Stay tuned for even more exciting content in the new year. Until then, may your holidays be filled with warmth, peace, and a sprinkle of magic. Stay Hungry! Stay Foolish! Happy Holidays! Merry Christmas! 🎅🤍 #MerryChristmas #HappyHolidays #VCintheCEE #VentureCapital #Podcast

🚀 How does FIRSTPICK evaluate 1,000 startups annually and make investment decisions almost monthly? One of the most impressive things I saw while researching for the interview with Jone Vaituleviciute, was how quickly FIRSTPICK's team can evaluate startups and make decisions. So many VC firms close only 3-4 deals a year and FIRSTPICK operate at Lightspeed announcing a new deal almost every month this year! In the episode, Jone shared the secrets behind their incredible evaluation process. ✨ Key Takeaways: - Their streamlined evaluation framework enables quick, data-driven decision-making without compromising quality. - The role of investor conviction vs. consensus in speeding up investment decisions. - Why investor intuition, backed by robust data, is pivotal for early-stage investments. 🎧 If you’re curious about how venture capitalists operate at such scale and speed, this episode is a must-listen! 🔗 Link to episode in the comments. #VentureCapital #StartupInvesting #Podcast #Innovation #Startups #VCintheCEE

It's time for our new episode! Lightspeed Investing in the Baltic Region In this podcast episode, we had the pleasure of hosting Jone Vaituleviciute, partner at FIRSTPICK, a leading early-stage VC firm reshaping the Baltic startup ecosystem. Episode Highlights: Evaluating 1,000 Startups Annually: Discover how FIRSTPICK makes investments almost every month in 2024 and how they created this incredible efficiency. Baltic Ecosystems: Why founders in Estonia, Lithuania, and Latvia need to think globally from day one—and how this is their hidden superpower. 2024 Baltic Startup Funding Report: Jonė shares key insights into pre-seed and seed round dynamics, angel investment trends, and what they mean for the region. More details can be found in their report! Wellness Tech Evolution: Exploring one of the most exciting verticals in CEE and how cultural and geographical nuances shape innovation in the sector. Gender Equality in VC: FIRSTPICK’s approach to diversity and why it's a model other firms should follow. This episode is packed with actionable insights for #founders, #investors, and anyone curious about the fast-paced world of venture capital. Ready to dive in? Listen now and gain a fresh perspective on startup success in the #Baltics! Links in the comments. #VentureCapital #BalticStartups #CEE #Podcast #StartupInsights #VC #Innovation

🎙️ Our final Episode of 2024 is out tomorrow But with Christmas 🎄 just around the corner, many of us are still scrambling for the perfect gifts. And while we could spend hours debating about perfect LEGO sets gifts*, we’d rather focus on something just as timeless: #books. 📚 Throughout the year, we’ve asked our guests for their go-to recommendations on learning more about #VentureCapital, #startups, and #investing. The result? A treasure trove of brilliant book suggestions that make thoughtful gifts. Here’s a roundup of their top picks, along with what they had to say about them. 🏆 The Clear Winner “Venture Deals” by Brad Feld and Jason Mendelson Diana Koziarska – SMOK Ventures “I think this is a VC Bible. That book covers everything, all of the angles and all of the things you should be aware of as the founder: the business side, the legal side.” Maciej Zawadzinski – Hard2beat “There is a specific book that I read as a founder and reread as an investor—it’s really great. (…) Whether you're planning fundraising or whether you are a VC or angel investor, it's really a must-read.” 📖 Other Must-Reads “Fundraising Field Guide” by Carlos Espinal Recommended by Artur Banach of Movens Capital: “This is a very easy-to-read book on how to deal with investors during the fundraising process. Fundraising is one of the most important tasks for a CEO, and this book is eye-opening for many.” “High Growth Handbook” by Elad Gil Also recommended by Artur Banach: “This is more about scaling and building a company—from 10 employees to 10,000. It includes interviews with people who’ve already built such companies, offering invaluable lessons.” “Secrets of Sand Hill Road” by Scott Kupor 🎯 Pawel Maj ’s go-to book: “If I had to choose one book, I’d say Secrets of Sand Hill Road by Scott Kupor, a partner at Andreessen Horowitz. It’s the best starting point.” “Start-up i Venture Capital” by Szymon Janiak Pawel's recommendation about Polish ecosystem: “This is probably the best local publication for founders starting out.” 📚 A Unique Take on Older Reads Bogdan Iordache of Underline Ventures suggests looking at books with an analytical twist: “Founders at Work” by Jessica Livingston “Venture Capitalists at Work” by Tarang Shah "A fun exercise is to pick older books about early-stage companies and compare the predictions made with what actually happened. Keep the book in one hand and Crunchbase on your phone in the other to check on those companies.” 🛋️ For Some Non-Business Escapism As Marcin Hejka, General Partner at OTB Ventures, shared: "In my free time, I try to stay as far away from the investment business as possible. I read science fiction books instead." One standout recommendation from a guest after recording: “The Three-Body Problem” by Liu Cixin We’ll throw in two of our SciFi favourites: Hyperion by Dan Simmons and Foundation by Isaac Asimov. *spoiler: we’re partial to NASA-themed ones like 10266 or 42158 😉

💰 What does it take to raise a $60M venture capital fund? The VC ecosystem in the CEE region has seen remarkable growth. Where just a few years ago there were few funds, today founders have plenty to choose from. But have you ever wondered where VCs get their money from? Just like startup founders, VC investors need to fundraise to build their funds. Many say that raising the first fund is the hardest, but how does the process evolve for subsequent funds? What challenges arise, and what changes should fund managers expect? In our latest podcast episode, we explore these questions with Diana Stefanova, Managing Partner at BrightCap Ventures, as she shares the story behind raising their second fund. Diana reveals: 🎯 Key lessons learned from raising their first fund 📈 How successful portfolio exits attract LP interest 🚀 Scaling strategies while staying true to BrightCap’s mission Whether you’re an aspiring fund manager or a founder looking to better understand the inner workings of VCs, this episode is packed with actionable insights and behind-the-scenes stories. 👉 Curious about the process of VC #fundraising? Don’t miss this episode! links in the comments! #VentureCapital #Fundraising #StartupEcosystem #BrightCapVentures #CEE #VC #Podcast

🚀 New Podcast Episode Alert! 🎙️ Join us as we sit down with Diana Stefanova, Managing Partner at BrightCap Ventures, an early-stage VC firm blazing trails in the SEE region with a focus on Bulgaria and Romania. 🎧 What you’ll learn: 💰 Behind the scenes of a $60M fund: How Diana and her team successfully raised BrightCap’s second fund and what’s different this time. 🌍 The evolving role of women in VC: With 2 of 3 Managing Partners being women, BrightCap challenges the status quo in the industry. Diana shares her thoughts on gender equality in VC. 🔮 Spotlight on the “future of work”: Learn about the types of startups BrightCap is backing in this exciting vertical, from HR tech to AI-powered tools. 📈 Bulgaria’s rise in the CEE ecosystem: Insights into Sofia’s recognition as a top startup hub and how local successes shape the ecosystem. Diana’s unique journey from Silicon Valley to scaling VMware in Bulgaria and now leading BrightCap Ventures offers invaluable insights into building ecosystems, navigating venture roles, and identifying the next big thing in startups. 🎧 Listen now for actionable insights from one of the CEE region’s top investors! Links in comments #VentureCapital #Startups #FutureOfWork #CEE #Bulgaria #WomenInVC #BrightCapVentures #StartupEcosystem #Podcast

This week we have a whole new episode for you but there is still so much insights that Jędrzej Szymczyk, LL.M. shared during our conversation. 🏦 The whole CEE region is booming and new VC funds are created almost every week but have you ever thought how the process of creating VC firm looks like from the legal perspective? There are not many people who know about this process as much as my guest. Discussion Points: • 🏗️ Legal Foundations: Jędrzej outlines the essential legal steps and structures required to establish a venture capital fund. • 🛡️ Avoiding Pitfalls: Key considerations for first-time fund managers to prevent issues that could arise later on. • 📜 Regulatory Compliance: Understanding the regulatory environment in Poland and the CEE region, and how to navigate it effectively. • 💡 Lessons Learned: Insights from LLW's experience working with multiple funds, and what new managers can glean from these examples. If you're considering starting a VC fund or interested in the behind-the-scenes legal work that goes into it, this episode is packed with actionable insights. 🎧 Listen now! Links in the comments. #VentureCapital #FundManagement #LegalInsights #Startups #Poland #CEE #VCintheCEE #Fundraising

Do you want to know what the legal due diligence process looks like? You're in luck! Just released a new podcast episode featuring Jędrzej Szymczyk, LL.M., Partner at LLW | Lewczuk Łyszczarek Szymczyk, where we dive deep into the intricacies of legal due diligence in startup investments. 🔍 Highlights: • 🔎 Structure of Legal Due Diligence: Jędrzej walks us through the step-by-step process and shares "golden practices" for thorough examination. • ⚠️ Common Founder Mistakes: We discuss typical pitfalls like poor record-keeping that can hinder investment opportunities. • 📌 Investor Priorities: Key areas investors should focus on—such as IP rights and key personnel dependencies—to mitigate risks. • ❓ Deal-Breakers: Insights into what could cause a promising startup to fail the due diligence process, even when everything else seems outstanding. Whether you're an #investor looking to sharpen your #DueDiligence process or a #founder preparing for investment, this episode offers valuable knowledge to navigate the legal landscape confidently. 🎧 Tune in now! Links in the comments. #LegalDueDiligence #StartupSuccess #VentureCapital #Founders #Investors #Poland #CEEStartups #VCintheCEE

📝 In our latest podcast episode, we had an in-depth discussion with Jędrzej Szymczyk, LL.M., Partner at LLW | Lewczuk Łyszczarek Szymczyk. Tune in and learn about the crucial aspects of the #TermSheet in venture capital deals. Key Takeaways: • 📄 Understanding the Term Sheet: We broke down the essential components of a term sheet and how Poland's evolving VC ecosystem influences its structure and clauses. • 🤝 Negotiation Focus Areas: Discover where lawyers spend most of their time when working on this document and how founders and investors often prioritize different sections. • 🌍 CEE vs. Western Markets: Learn about the unique elements in Polish term sheets compared to those in Western Europe and the US, and how international VCs view the legal frameworks used in Poland. If you're a #founder or #investor navigating term sheets, this episode is a must-listen! Gain valuable insights to better understand and negotiate your next deal. 🎧 Listen now! Links in the comments. #VentureCapital #TermSheet #StartupLaw #Poland #CEEStartups #LegalInsights #VCintheCEE

In our latest podcast episode, we had an enlightening conversation with Jędrzej Szymczyk, LL.M., Partner at LLW | Lewczuk Łyszczarek Szymczyk a law firm specializing in legal support for both investors and founders in the #startup ecosystem. LLW has worked with notable #VC funds like Sunfish Partners, Shape VC, and Hard2beat. 🎙️ Episode Highlights: • 📄 Decoding the Term Sheet: We explore the crucial aspects of the famous term sheet, where lawyers spend most of their time, and how Poland's evolving VC ecosystem affects its structure and clauses. • 🔎 Legal #DueDiligence Unveiled: Jędrzej shares insights into the structure of legal due diligence, common pitfalls founders make (like poor record-keeping practices), and what investors should keep an eye on. • 🏦 Building a VC Fund from a Legal Perspective: We discuss what first-time fund managers need to consider legally to avoid potential issues down the line. • 🇵🇱 The Role of the Polish Development Fund (Polski Fundusz Rozwoju S.A. (PFR)): An exploration of how PFR's support, particularly through the PFR Starter program, has been pivotal in fostering Poland's venture capital ecosystem, and what's changed in its second edition. • 💰 Alternative Financing Options: From a legal standpoint, we examine #ConvertibleNotes, #SAFE, and equity financing, highlighting potential legal pitfalls founders need to be aware of. • 📈 Employee Stock Option Plans (#ESOP): Understanding how ESOPs work from a legal perspective and why investors expect founders to allocate equity for them. Join us for this value-packed conversation where Jędrzej shares legal insights that every founder and investor should know! 🎧 Listen now and stay ahead in the startup world! Links in the comments! #VentureCapital #StartupSuccess #Poland #CEEStartups #LegalInsights #VCintheCEE #CEE #Fundraising