Alexander (Sasha) V. Galitsky
Co-Founder: Almaz Capital Partners, Managing Partner
Board/advisor: Skolkovo Foundation and Acronis; Chairman of Advisory
Committee RVC; Acumatica, AlterGeo, SJ Labs (sold to Ymax), PGP,
Parallels, Magnifire (sold to F5), Jelastic, 2Can, EverNote
Private investor: Parallels, Start-Telecom (sold to Sinterra),
NavMaps (sold to TeleAtlas), S-Terra, EzWIM (sold to TMT Ventures),
Elvees-Elka, WikiMart, Yam Labs
Russian Technologies: Partner (2005-07), private investor (2003-07)
Founder & CEO: 5 successful start-ups; pioneer in WiFi and FW/VPN,
obtained first investment by Sun Microsystems outside US (1993)
Soviet Defense Industry: Youngest PM for “Star Wars” response, head
of communications, computer systems for Mir Space Station and 85% of
Technology Pioneer, World Economic Forum, Davos 2000; Top 3
Russian Internet Influencer according to Forbes 2010 – 13; EY
Entrepreneur of the Year 2013, National Award; Best GP of 2013 in
Russia/CIS; top 6 European VC of last decade in 2012.
Ph.D., CS, Defense Research Institute, Moscow Institute of Physics &
Win your technology race on the global scale
No one has privilege on the innovation, idea, technology… and victory
World is flat and only political borders are on your way!
Talents available everywhere, no needs to the physical move
Think global from day one!
Some myths to recall
Venture capital is the primary source
of start up funding
VCs take a big risk when they investing
in start up
VCs offer great advices and mentoring
VCs generate unbelievable returns
In VC, bigger is better
VCs are innovators and visionaries
VCs will make you reach
How do YOU get noticed ?
Team: have they done this before,
are they good, are they the team?!
Market: how large, how do they get
what %, how much $ to get there,
sales model is direct, Web, viral ?
Does it make sense ?
Technology: unique ? Does it work ?
Defensible ? How hard ? Patentable ?
Financing: $$ to get to next milestone?
U are the 1st investor in your business,
you invest your life!
Bootstrap your business as long it
Investors like the traction
Show commitment to your business
100% of nothing is nothing
Pick right investor for your business
Ask yourself the tough questions each day!
Is the industry good and am I in
right segment and time?
Is it possible to entry the
Is it possible to make enough
money to be happy?
Is the reward worth the risk and
5 - 7 years of my life?
Will be I able to collected a
Will you invest 20% of your net
worth, if I have it?
If not - just wait your new idea!!!
What we expect from the entrepreneur?
Product evolution: “buggy” product –
services – product – SaaS.
Product 1.0 release is a brochure
Cutting costs every day
Selling every day, every minute
Knowing well when to be focused and
when and why not!
Knowing well when and for what
reason to hire and when and for what
reason to fire employees
To hire slowly and fire fast
Ability to make fast decisions, even
they are wrong
Agile, agile, agile - get answers from
Fight with risks
Product risk Uncertainties with the
technology and solution itself.
Market risk. How certain you are that
someone will buy your product or
solution. It's new market or resegmenting.
Financial risk. Do you have enough
runway? Is it capital intensive
Competition risk. How competitors
will react on your market entry?
Execution risk. Are you and your team
capable to pull the business off?
General risk. How much experience
you have in the industry or with start
ups in general?
Building company is a process to turn
a lot of uncertainties in to certainties