Ep 22: Andris K. Berzins
on negotiating with investors, finding a mentor, why round sizes in 3 Baltic countries are growing, and what we can learn from the Israelis
Andris K. Berzins is the managing partner of Change Ventures, the first and largest pan-Baltic seed investor. With an MBA from Stanford and 20+ years of tech experience in all kinds of roles from founder to executive, to an investor, Andris brings a uniquely nuanced opinion on the Baltic startup scene through the eyes of a VC. He is also credited for being one of the most visible shapers and champions of the Latvian startup ecosystem
On this energizing pod, we discuss the Baltics as the next startup nations by drawing parallels to Israel, what it takes to be a successful startup founder, how to build valuable mentor-mentee relationships as well as talk about the overall Baltic startup market situation through the lens of the Baltic Startup Funding Report latest issue
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The topics covered in this episode (with Timestamps)
🔈 [03:15] Introduction, the birth of Latvian startup ecosystem and going to top US universities
Building the Latvian startup ecosystem
The promise of the Baltic startup scene
The value of going to top US universities and business schools
🔈 [13:00] Investing in the Baltic startup scene
When you are a founder, there is no boss to help with your challenges
Comparing the Baltics to Israel - Baltics as the next startup nations
What can the Baltics learn from Israelis?
The emergence of cross-Baltic founder cases and senior hires going across Baltic borders
What Andris looks for in founders
How to test for grit
How to build a working mentor-mentee relationship
The value prop of Change Ventures for Baltic founders
International and US investors coming
It’s never been a better time to raise money in the Baltics
What mistakes founder’s make when approaching VCs
How to test the ability to ability to enter big foreign markets
🔈 [50:40] The Baltic Startup funding report
Trends behind growth in Baltic round sizes and valuations
Baltics as a destination for talent, not low-cost labor
Do you need to set a valuation for your raise?
Is it possible for Latvia and Lithuania to catch up with Estonia?
Global trends in VC funding and the longstanding effect of the pandemic
The right time for a product
Interactio app experience in timing
The future for Change Ventures
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