Sorry Mr. Putin, however there’s a race on for Russian and Eastern European founders. And proper now, these terrible capitalists in the corrupt West are beginning to out-gun the opposition! But critically… solely the different day a $100 million fund geared toward Russian talking entrepreneurs appeared, and others are proliferating.
Now, London-based Untitled Ventures plans to affix their fray with a €100 million / $118M for its second fund to put money into “bold deep tech startups with japanese European founders.”
Untitled says it’s aiming at entrepreneurs who need to relocate their enterprise or have already HQ’ed in Western Europe and the USA. That’s alongside all the different current Western VCs who’re – in my expertise – at all times prepared and prepared to take heed to Russian and Eastern European founders, who are sometimes recognized for their technical prowess.
Untitled goes to be aiming at B2B, AI, agritech, medtech, robotics, and information administration startups with confirmed traction rising from the Baltics, CEE, and CIS, or these already established in Western Europe
LPs in the fund embody Vladimir Vedeenev, a founding father of Global Network Management>. Untitled additionally claims to have Google, Telegram Messenger, Facebook, Twitch, DigitalOcean, IP-Only, CenturyLinks, Vodafone and TelecomItaly as companions.
Oskar Stachowiak, Untitled Ventures Managing Partner, mentioned: “With over 10 unicorns, €1Bn enterprise funding in 2020 alone, and success tales like Veeam, Semrush, and Wrike, startups rising from the fast-growing areas are the finest option to give attention to early-stage funding for us. Thanks to the sturdy STEM focus in the training system and about a million high-skilled builders, we’ve got an ample alternative to search out and help the rising stars in the area.”
Konstantin Siniushin, the Untitled Ventures MP mentioned: “We imagine in financial effectivity and at the identical time we fulfill a social mission of bringing technological initiatives with a massive scientific part from the economically unstable nations of the former USSR, resembling, to start with, Belarus, Russia and Ukraine, however not solely when it comes to bringing gross sales to the world market and never solely serving to them to HQ in Europe to allow them to get subsequent rounds of investments.”
He added: “We have a nice expertise amassed earlier in the first portfolio of the first fund, not simply structuring enterprise in such European nations as, for instance, Luxembourg, Germany, Great Britain, Portugal, Cyprus and Latvia, but in addition bodily relocating startup groups in order that they’re perceived already as totally resident in Europe and globally.”
To be honest, it’s nonetheless more durable than it must be to create massive startups from Eastern Europe, primarily as a result of there may be usually little or no native capital. However, that’s altering, with the launch just lately of CEE funds resembling Vitosha Venture Partners and Launchub Ventures, and the breakout hit from Romania that was UIPath.
The Untitled Ventures workforce:
• Konstantin Siniushin, a serial tech entrepreneur
• Oskar Stachowiak, skilled fund supervisor
• Mary Glazkova, PR & Comms veteran
• Anton Antich, early stage investor and an ex VP of Veeam, a Swiss cloud information administration firm
acquired by Insight Venture Partners for $5bln
• Yulia Druzhnikova, skilled in taking tech firms worldwide
• Mark Cowley, who has labored on non-public and listed investments inside CEE/Russia for over 20 years
Untitled Ventures portfolio highlights – Fund I
• Sizolution: AI-driven dimension prediction engine, elegant in Germany
• Pure app – spontaneous and impersonal relationship app, elegant in Portugal
• Fixar Global – environment friendly drones for industrial use-cases, elegant in Latvia,
• E-contenta – elegant in Poland
• SuitApp – AI elegant mix-and-match ideas for vogue retail, elegant in Singapore
• Sarafan.tech, AI-driven recognition, elegant in the USA
• Hello, child – parental assistant, elegant in the USA
• Voximplant – voice, video and messaging cloud communication platform, elegant in the USA (exited)