Fund #F78
#active #b2b #b2c #Seed #USD150k #USD500k

1) How many deals do you plan to make?
We’ve just recently launched and aim to build a portfolio of 10–20 projects over 3 years, so we plan to invest in at least 5 projects per year.

2) Out of 100 decks how many projects do you invest in?
We’re only getting started, so the funnel velocity is not yet clear.

3) What is the average check size?
$150k – $500k.

4) Which stages are you looking at?
Late Seed stage, with a working product and some initial revenue. It's important to us that the product has been validated by the market and that customers are willing to pay for it.

5) What industries, geography?
We’re looking for international projects (#global), mainly in developed countries. However, we’re also open to other markets, such as LatAm or Kazakhstan, especially if proven business models are being replicated. Asia is less of a focus.
We’re particularly interested in service-oriented IT projects (#Software) that implement #AI in the construction sector (#Construction, #Proptech) and #FutureOfWork — industries we know well.
Examples of verticals we’re interested in:
- Engineering and design
- Construction and infrastructure development
- Project and construction management
- Industrial technology and plant engineering
- Construction workforce solutions
- Project communication and stakeholder engagement
- Building environment and innovation
- Construction and PropTech
- Manufacturing and IndustrialTech
- CleanTech and energy innovation
- Product innovation
- PropTech
- Future of work

6) Are you ready to be a lead investor?
In rare cases, yes. But generally, we prefer to join existing rounds. That said, we want to have a strong feel for the direction of the project and are ready to contribute energy, expertise, and networking support.

7) Where did the projects you invested in come from?
So far, mainly through syndicators.

8) What percentage of investments are in projects that came through cold messages/emails?
None so far.

9) What accelerators or startup conferences do you follow/attend?
We plan to follow accelerators and attend relevant industry conferences.

10) What should be in the presentation to pass initial review?
- A clear explanation of the problem the project is solving
- A logical estimation of the market size
- If both are solid, we’ll talk to the founder/team to assess how well their vision aligns with their capabilities.

11) What return on investment do you expect from the projects?
We take a relatively conservative approach and aim to invest in sustainable businesses. We’re okay with potentially lower multiples if it also means lower risk. A return of 5–10x over a 5–7 year horizon is acceptable.

12) How important is the number of founders (1 or 2) or whether it's their first project or not?
It’s better if it’s not the founder’s first project — ideally, their current venture builds on either successful or failed past experience. The number of founders isn’t very important.

13) What "unfair advantage" in projects are you looking for?
We look for founders who are deeply embedded in their market, speak the same language as their customers, and build the product based on real needs. We tend to avoid founders who see themselves as misunderstood geniuses building something the world “just doesn’t get” and struggle to sell it.