Another update - the description of the Fund #F15 has been changed. Here is a new description (the previous message has been deleted).

Fund #F15
#active #b2b #seed #USD1m

‎1) How many deals do you plan to do?
6–8 per year.

‎2) How many projects do you review?
Around 400 per year.

‎3) What is your average check size?
$1.5m initial check.
Up to $7m including follow-ons.

‎4) What stage do you invest in?
Mostly Seed-stage companies with initial revenue. For #deeptech, we may invest before revenue.

‎5) Which industries and geographies?
Europe (the fund is based in the UK) and the US, #developed.
80% #Infrastructure: #Devtools, #Robotics, #Hardware infrastructure, #Energy infrastructure.
20% Application layer (B2B tools) and #Fintech.
#B2B only.

‎6) Are you ready to be a lead investor?
Yes. We lead around 30% of our investments.

‎7) Where did the projects you invested in previously come from?
Most opportunities come through referrals from other funds or fellow founders.

‎8) What percentage of your investments came from cold messages/emails?
We read inbound messages, but the probability of investment is very low. We have not made any investments from cold outreach in the current fund.

‎9) Which accelerators/startup rankings/conferences do you follow?
We occasionally review accelerator batches, mainly to understand market trends. We regularly attend conferences, although we mostly meet other funds there rather than source startups.
The main conferences we attend are Slush (by far the best in Europe), How to Web (Romania, deeptech), SaaStr (not as good as it used to be), SaaStock (Dublin), Bits & Pretzels (Berlin), South Summit (Madrid), and TechChill (Latvia).

‎10) What should a pitch deck contain to pass your screening?
- a project should fit our investment focus
- team
- traction

‎11) What returns do you expect from investments?
Our goal is for every investment to have the potential to become a fund returner (30–40x on the initial check).

‎12) Is it important how many founders there are (1 or 2), and whether this is their first project?
It is not a red flag, but in general we prefer teams with more than one founder and founders who are not first-time entrepreneurs.

‎13) Is an “unfair advantage” important in projects?
We rarely use this term. Instead, we focus on founder–product fit.