
Greg Albrecht Podcast #307 Playbook for a Billion Dollar Business #1 Startup Investor: How to Turn an Idea into Global Success?
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Daniel Tomov is the founding partner of Eleven Ventures, one of the most active early-stage venture capital funds in Southeastern Europe. Since 2012, Eleven has invested in over 200 startups, helping shape the regional startup ecosystem â including Payhawk, Bulgariaâs first unicorn.
In the #307 episode of the Greg Albrecht Podcast, Daniel shares why heâs not a picker but a builder and how that philosophy changes everything about VC, founder support, and building lasting companies.
What youâll learn in this episode:
â Why most startup boards fail â and how to build ones that actually work
â How Eleven supports founders before and after investment
â How many pivots does it take to find product-market fit â and are 24 pivots to unicorn a lot? (like Payhawk)
â How to decide when to pivot, persevere, or pull the plug
â What makes CEE founders unique â and whatâs still holding them back
â How a personal health crisis gave Daniel radical clarity and focus
If you're a founder, VC, or startup operator â this conversation will change your thoughts about early-stage investing.
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Chapters:ï»ż
00:00:00 Intro
00:00:56 Who is Daniel Tomov, and what is Eleven Ventures?
00:01:40 âWeâre not pickers, weâre buildersâ â two philosophies of venture capital
00:04:27 What is an Elevenâs startup playbook, and why most VCs donât have one
00:07:58 How Eleven works with founders before and after investment
00:09:47 When the plan doesnât work â pivots, product-market fit, and Payhawkâs 24 pivots
00:12:51 The role of a startup board and why most board members get it wrong
00:17:05 How to be a board member that supports, not destroys
00:24:55 How Eleven evaluates startups and finds the right teams
00:29:20 Red flags you can spot in the first 30 seconds
00:32:04 The ultimate founder test: do they live and breathe the company?
00:36:04 When to walk away from a startup â and how to know itâs time
00:39:55 The Untapped Power of Southeastern Europe
00:47:41 The origin story and mission behind Eleven Ventures
00:50:31 Community as the real advantage of startup ecosystems
00:55:42 Danielâs health crisis and the life clarity it brought
01:04:52 Idealism vs financial return â how Daniel balances both
01:09:39 Final vision: collaboration across CEE to build global companies
Let's connect:
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đ TikTok: https://www.tiktok.com/@albrechtpartners
Website:
https://albrechtpartners.com/gregalbrechtpodcast/
Apple Podcasts:
https://podcasts.apple.com/us/podcast/greg-albrecht-podcast/id1364621095
Spotify:
https://open.spotify.com/show/6mOUEu9iUycazH169w6btk?si=d5d31c6b85104f31
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