After making a series of successful solo investments, we decided to launch a new investment fund, which will operate independent of STRV, while leveraging its network, know-how and technology.
The Startup Fund was officially unveiled at the European Capital in Silicon Valley event we hosted at our Prague office last week.
The main focus of the evening, of course, was investment strategies for targeting US startups — a topic we certainly know a thing or two about! We flew Jeff Tannenbaum, a partner at Blue Run Ventures, whose portfolio includes names like Waze and PayPal, in from California for an intimate fireside chat with STRV CEO David Semerad about investing in US tech companies.
Ales Michl, an economist, financial analyst and an advisor at the Czech Finance Ministry, followed with a lively talk on how to properly invest $1 million.
The whole evening, which we partnered on with the Czech Business Club, was a nice lead up to our big Startup Fund unveiling. The fund’s co-founder, Jakub Plas, announced that he and his team were in the process of closing a $40 million deal with a full-time venture partner who will help them start raising capital in the CEE region. STRV is planning to invest $2 million in the Startup Fund.
The fund will utilize real-time verified data, developed by STRV’s custom-made investment platform, to identify opportunities. The platform will help the fund track startup performances based on verified data and pick the 10 best investment opportunities.
“We believe this is something that has never been done before and will bring a new perspective to the investment arena. With this STRV-developed platform, we won’t have to go through presentations and pitches but will be able to make decisions in seconds,” said Jakub. “We are planning to disrupt the venture capital industry by using our own investment platform.”
“We've jumped into the venture capital environment without any previous financial experience and realized that we can use our technical background to drive success,” Jakub added.
The platform has been running on Startupfund.com for a month and already has more than 500 registered US startups.
“We’re targeting large portfolios of early-stage US tech startups. The fund’s target is more than 100 investments over its lifetime with an average investment of between $80,000 and $100,000 in seed-stage and $2 to 3 million in later-stage” said Jakub, who is overseeing the fund’s investment structure and strategy.