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Live fully now
Photo by Dainius N. / Unsplash
Lithuania Tech Weekly #95
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work in progress

geolocated party building, possibly also operational premises

rounds and capital


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founder guide


three questions

Gytenis Galkis, Venture Partner, Superhero Capital

Superhero Capital is a regional player. What are you after in terms of startup stage, verticals, or business models?

As with most of the other regional VC’s we look at early-stage (pre-seed/seed) companies with strong founding teams and scalable businesses :)

Being a regional VC firm, we are generalists, so we look at various verticals and business models, but they need a software element. Then we pick the ones that, in our view, have the most compelling investment opportunity. We offer capital in exchange for equity. Our fund’s average initial ticket is ~EUR 500k and can go up to EUR 1m. Entrepreneurs are Superheroes like Batman. We at Superhero Capital are Alfreds to Batmans’.

What would you like to achieve in Lithuania and the Baltics in the next 12-24 months?

There is no specific strategy towards Lithuania, but towards the whole region (Finland + Baltics). We are here to provide capital to local entrepreneurs with global aspirations. That should give us and our LPs solid investment outcomes (exits). For those who seek to invest in Venture Capital, we plan to provide such an opportunity within the next 12-18 months. We are always available for a chat.

Founders in Lithuania. What comes across for you as particular strengths, or advantages - something you recommend to leverage more?

According to Dealroom data about all the New Nordics, Lithuania stands 3rd when counting the company value per funded euro. The leader is Denmark, followed by Sweden. However, I’m doubtful about the reliability of this data but based on it and my overall judgment, the best guess is that most of our startups are capital efficient. This thesis has also been validated by McKinsey 2019 study on B2B SaaS startups where Lithuania was placed second in Europe. I believe this ability to achieve more with less will be crucial in the next couple of years.

Previously with three questions

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