Sorry Mr. Putin, but there is a race for the Russian and Eastern European founders. And right now, those terrible capitalists from the corrupt West are beginning to outmaneuver the opposition! But seriously … just the other day a $ 100 million fund aimed at Russian-speaking entrepreneurs appeared, and others are proliferating.
Now based in London Untitled companies plans to join their fray with 100 million euros / 118 million dollars for their second fund to invest in “ambitious deep tech startups with founders from Eastern Europe”.
Untitled says it is aimed at entrepreneurs looking to relocate their business or who are already based in Western Europe and the United States. That’s along with all the other existing Western VCs who, in my experience, are always ready and willing to listen to the Russian and Eastern European founders, who are often known for their technical prowess.
Untitled will target emerging traction-proven B2B, AI, agritech, medtech, robotics and data management startups emerging from the Baltics, CEE and CIS, or those already established in Western Europe.
The fund’s LPs include Vladimir Vedeenev, founder of Global Network Management>. Untitled also claims to have Google, Telegram Messenger, Facebook, Twitch, DigitalOcean, IP-Only, CenturyLinks, Vodafone and TelecomItaly as partners.
Oskar Stachowiak, Managing Partner at Untitled Ventures, said: “With over 10 unicorns, € 1 billion of venture funding in 2020 alone, and success stories like Veeam, Semrush and Wrike, startups emerging from fast-growing regions They are the best option to focus on initial investment for us. Thanks to the strong STEM focus in the education system and around one million highly skilled developers, we have a vast opportunity to find and support the rising stars in the region. “
Konstantin Siniushin, MP Untitled Ventures said: “We believe in economic efficiency and at the same time fulfill the social mission of bringing technological projects with a large scientific component from the economically unstable countries of the former USSR, such as, first of all, Belarus, Russia and Ukraine, but not just in terms of bringing sales to the world market and not just helping them to the headquarters in Europe so they can get the next rounds of investments. “
He added: “We have a lot of experience previously accumulated in the first portfolio of the first fund, not only structuring businesses in European countries such as Luxembourg, Germany, Great Britain, Portugal, Cyprus and Latvia, but also physically relocating startup teams to who are already perceived as full residents in Europe and around the world. “
To be fair, it is even more difficult than necessary to create large start-ups in Eastern Europe, mainly because there is often very little local capital. However, that is changing, with the recent launch of Central and Eastern European funds such as Vitosha Venture Partners Y Launchub Ventures, and the Romanian flight hit that was UIPath.
The Untitled Ventures Team:
• Konstantin Siniushin, a serial technology entrepreneur
• Oskar Stachowiak, experienced fund manager
• Mary Glazkova, veteran of public relations and communications
• Anton Antich, early stage investor and former vice president of Veeam, a Swiss cloud data management company
acquired by Insight Venture Partners for $ 5 billion
• Yulia Druzhnikova, with experience in internationalizing technology companies
• Mark Cowley, who has worked in private and listed investments in Central and Eastern Europe / Russia for more than 20 years
Untitled Ventures Portfolio Highlights – Fund I
• Sizolution: Germany-based AI-powered size prediction engine
• Pure application – spontaneous and impersonal dating app, based in Portugal
• Fix Global – efficient drones for commercial use cases, based in Latvia,
• I-happy – based in Poland
• SuitApp – AI-Based Mix-and-Match Suggestions for Singapore-based Fashion Retail
• Sarafan.tech, Recognition Powered by AI, based in the US.
• Hi Babe – parental assistant, based in the USA.
• Voximplant – voice, video and messaging cloud communication platform, based in USA (Exit)