Show up
"Congratulations, you showed up!" For many things in life (that task, project, conversation, training session), just getting started is the most difficult part.
We're putting a few graphs together to reflect on 2021 in Lithuania. This might be illustrative to explain what is happening from a 3-year perspective. Even if we isolate Vinted as an outlier, there has been 4x growth in invested capital.
work in progress
- Fails & pains are part of the creative effort. Nice wrap up for Sama sunset, Ziticity might be taking some pivot, and there are hundreds of more founders pushing – just to try again.
- Lasers. While Brolis Semiconductors seem to suffer impact from China's actions, Altechna is committed to investing another EUR 6m to expand, and Litilit is fundraising.
- Media. Martynas and Arunas run our 2022 predictions and confirm that we all know nothing (until proven otherwise). Youtube (in LT). Interview (in LT) with Gediminas Jankus, Co-founder, CEO of Discontract.
- SME Finance introduces revenue-based financing for the Baltic startups.
rounds and capital
- Walk15 secures EUR 270k round in 45 minutes (angels Vladas Lašas, Arminta Saladžienė, Donatas Dailidė, Helmuts Lejnieks). That's the pace we like to see.
insights
- Are there any good startups in Latvia? Hell yes
- Venture dynamics, valuations, and fintechs. Podcast with QED Investors' Frank Rotman - who is great, truly great articulating his arguments. What is a conviction-based investor?
blog posts
2022 Lithuania tech predictions
Finding Angel Investors in Lithuania
5 Questions With the Editor of Tech Philomaths
Finding Angel Investors in Lithuania
5 Questions With the Editor of Tech Philomaths
founder guides
- A great read for product leaders - How do you Scale a Multi-Product Business? Written by Vaidas, CPO at Uncapped
- How not to personalize pitches for journalists (and anyone else)
- Pitch deck template by Inventure
- ConvertKit was stuck at $1,500 MRR. Then used direct sales to get their SaaS to $100k MRR in 12 months
- Kaari has publicly crowdsourced a list of 80+ VCs investing into the Baltics - a very handy list. Don't see Coinvest Capital, Katalista Ventures, Launchpad Capital there, might be a few more missing.
- Which one is your biggest threat to you, founder?
Most dramatic mistakes made by early stage startups (in my experience and in order of impact):
— Fred Destin (@fdestin) January 19, 2022
1. Not staying close enough to their users or customers
2. Lack of focus
3. Loss of discipline on hiring A players
4. Not making the hard people decisions fast enough
WDYT?
roleplay
ecosystem
- Talks on talent and education last week in LT. Just one graph from to take away - 44% of US unicorn founders are not US-born.
- We can all contribute, first by sharing Why Vilnius works for Expats, summarized by Sergei.
Member discussion