Fund #F82
#active #b2b #seed #USD100k #USD1m

1) How many deals do you plan to make?
About 5–6 per year.

2) Out of 100 decks how many projects do you invest in?
We invest in less than 1%.

3) What is the average check size?
$100K–$1M.

4) Which stages are you looking at?
Companies with early revenue, predominantly.

5) What industries, geography?
We are originally from Turkey and invest in teams from Turkey, Central Asia, and Eastern Europe (lower priority) that are building international projects with global ambitions (#global).
We are looking for projects in sectors such as #B2B #SaaS, #AI, #Deeptech, #Cleantech, #Healthtech, #Fintech, #HRtech, #Edtech, and #Cybersecurity.
We do not invest in crypto projects or marketplaces.
We usually do not invest in B2C, unless the project is truly exceptional.

6) Are you ready to be a lead investor?
We prefer to co-invest with at least one EU- or US-based VC fund in each project.

7) Where did the projects you invested in come from?
Mostly through referrals from other VCs, LPs, and partners in the ecosystem. Also, we proactively reach out to projects ourselves.

8) What percentage of investments are in projects that came through cold messages/emails?
There have been no such cases so far. We read all emails and LinkedIn messages.

9) What accelerators or startup conferences do you follow/attend?
We attend local and international conferences like Web Summit, CES Tech (Las Vegas), and InMerge (Central Asia & Caucasus).
We monitor projects from accelerators such as BetterFuture (Central Asia) and 500 Eurasia (Georgia).

10) What should be in the presentation to pass initial review?
- The team, their experience and background, and previous achievements
- The problem they are trying to solve
- Current traction (if any)

11) What return on investment do you expect from the projects?
At least 10x. We are not focused only on unicorns; we also consider strong local champions.

12) How important is the number of founders (1 or 2) or whether it's their first project or not?
We prefer experienced teams with multiple founders, but there are no strict rules.

13) What "unfair advantage" in projects are you looking for?
It’s not a commonly used term for us, although it’s helpful if a project highlights something like that in the deck.
Generally, the team is more important to us than the idea. If we see a good product with a weak team, we will pass. But if the team is strong and the idea still needs refinement, we will consider it.