Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Venture Capital in Latvia: what we need

271 views

Published on

My presentation at a policy discussion hosted by ALTUM and Riga High Tech University about the development of the venture capital industry in Latvia.

Published in: Economy & Finance
  • Be the first to like this

Venture Capital in Latvia: what we need

  1. 1. V E N T U R E C A P I TA L I N L AT V I A : W H AT W E N E E D S M A R T M O N E Y & S I L I C O N VA L L E Y T E R M S A N D R I S K . B E R Z I N S T E C H H U B R I G A
  2. 2. S M A R T M O N E Y • Just two people in Latvian VC industry with any operating experience: Nikolai Adamovitch & Vitaly Rubstein • Everyone else is a banker or financial analyst • Little ability to give startups good operating advice • Startups see when investors have not “walked a mile” in their shoes
  3. 3. S I L I C O N VA L L E Y T E R M S • Investors in Latvia often propose short-sighted, bad terms for entrepreneurs: 1. Want too much % for their money - Disincentive for entrepreneurs to make it big 2. Large liquidation preferences, milestone-based tranche investments, participating preferred share - force next investors to make terms even worse

×