The Pursuit of Scrappiness #22 - Andris K. Berzins (Change Ventures) on negotiating with investors, finding a mentor, why round sizes in 3 Baltic countries are growing, and what we can learn from the Israelis
Andris K. Berzins is the managing partner of Change Ventures, the first and largest pan-Baltic seed investor. With an MBA from Stanford and 20+ years of tech experience in all kinds of roles from founder to executive, to an investor, Andris brings a uniquely nuanced opinion on the Baltic startup scene through the eyes of a VC. He is also credited for being one of the most visible shapers and champions of the Latvian startup ecosystem
On this energizing pod, we discuss the Baltics as the next startup nations by drawing parallels to Israel, what it takes to be a successful startup founder, how to build valuable mentor-mentee relationships as well as talk about the overall Baltic startup market situation through the lens of the Baltic Startup Funding Report latest issue
The topics covered in this episode with Timestamps
[03:15] - Introduction, the birth of Latvian startup ecosystem and going to top US universities
- Building the Latvian startup ecosystem
- The promise of the Baltic startup scene
- The value of going to top US universities and business schools
[13:00] - Investing in the Baltic startup scene
- When you are a founder, there is no boss to help with your challenges
- Comparing the Baltics to Israel - Baltics as the next startup nations
- What can the Baltics learn from Israelis?
- The emergence of cross-Baltic founder cases and senior hires going across Baltic borders
- What Andris looks for in founders
- How to test for grit
- How to build a working mentor-mentee relationship
- The value prop of Change Ventures for Baltic founders
- International and US investors coming
- It’s never been a better time to raise money in the Baltics
- What mistakes founder’s make when approaching VCs
- How to test the ability to ability to enter big foreign markets
[50:40] - The Baltic Startup funding report
- Trends behind growth in Baltic round sizes and valuations
- Baltics as a destination for talent, not low-cost labor
- Do you need to set a valuation for your raise?
- Is it possible for Latvia and Lithuania to catch up with Estonia?
- Global trends in VC funding and the longstanding effect of the pandemic
- The right time for a product
- Interactio app experience in timing
- The future for Change Ventures
Find out more on https://www.pursuitofscrappiness.co/
Support for this episode comes from Nexpay > https://paynexpay.com/
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Find out more on https://www.pursuitofscrappiness.co/