Startup scene in Lithuania - weekly newsletter

Hot climate hot economy

Hot climate hot economy
Photo by Rasa Kasparaviciene / Unsplash
Made it to Friday! Time for a tomato issue
Lithuania Tech Weekly #75
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work in progress

  • Taking CRM in parts. Several unicorns will be built going after Mailchimp, probably more after Salesforce? Breezit targets trillion-dollar event industry (started as Foxy Wedding in LT), Ventury.app is CRM for founders fundraising in the Baltics, UKU is for accounting firms, and 4logist is of course for freight forwarders.
  • Fun to continue with governments doing all to cool economies. Who will thrive? Startups that help companies save & automate (CAST AI, ConnectPay), people save (Rubbee, Markestro), and invest in skills (Turing College).
  • These headcount growth graphs last week were Melsoft Games and Wargaming, are these guys taking all the apartments in Vilnius?
  • Events. Fashion Sprint: Pitches to Improve Circular Fashion (today). Favro office warming (June 30). Eimantas' Mailerlite story video.

rounds and capital

roleplay

founder guide [WFH]

Remote & hybrid is now a standard, everyone has an opinion, but what's the evidence?


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insights


three questions

Marko Oolo, General Partner, Superangel

How does a VC fund get the president to invest along?
It is simple, but not easy. You have to have the most well-known brand in your area. As well as a good track record and reputation. Our previous president is very tech-savvy and she wanted some well-managed early-stage tech exposure in her portfolio.

Only 1 portfolio company from LT - do you expect this ratio to change?
We see Lithuania as a promising location for the next years to come. Was impressed by the StartupFair and the mission of the community as well as Vilnius' major. Very tech supportive.

Based on Lithuanian pitches that you have seen - what are common challenges or mistakes?
Sometimes founders are not ambitious enough. Limited by the geography (staying local for too long) or by the ability to communicate vision.

There is tokenization element in your fund - how will that work in simple terms?
We will share the success of the fund with the people who are contributing to the success of our portfolio companies. Mentors at our events, experts working with portfolio companies, founders, intro makers, deal sourcers etc etc. We want everyone to be aligned for the same mission. We are mightier together.



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