Mantas Mikuckas

#BREAKING: I just received the 2023 results for UAB #Bifinity, owned by Binance founder #ChangpengZhao, in #Lithuania. Revenue decreased by about 50% to EUR 229.8m, but the EUR 42.9m loss from the previous year was replaced by a EUR 105m net profit. Bifinity, which appointed a new CEO, Jonas Jünger, last year, also reported paying EUR 30m in taxes in Lithuania over the past 12 months. In the last three years, they have paid approximately EUR 50m in income taxes alone. A link to my interview with Jonas is in the comments.

49

5 Comments

📢I had the pleasure, together with Maciej Cwikiewicz and Grzegorz C. in Puls Biznesu, of discussing the chances of Polish #AI companies to obtain funding from #VCs and, more broadly, to build a new #flywheel for our economy. According to a recent Dealroom.co's report, the AI Core startups received 45% of all VC investment in the CEE region. This is an opportunity we cannot miss!💥 My key theses: 📌At Movens Capital, we are investing in AI-enabled companies starting in 2019 based on our previous startup experience. They distinguish the #CEE region. By 2023, more than 1,000 AI/ML startups had emerged here, raising more than USD 4 billion in funding. 📌We see a great opportunity for Polish AI startups to succeed due to their unique technological talent. Building a sustainable #competitiveadvantage is key, as illustrated by ElevenLabs, but also examples from our portfolio, such as Talkie.ai or SKY ENGINE AI. 📌 The current stagnation in the VC sector has led to lower startup valuations, benefiting funds in executing transactions. In Poland, VC fund conditions will remain favorable in the coming years, but careful selection of AI companies is necessary, as most new entities have little chance of building lasting entry barriers. Thank you, Anna Bełcik, for taking on an important topic and inviting us to talk. 👉 https://lnkd.in/dxtGvvD7

29

1 Comment

Eleanor Roosevelt once said: “Yesterday is history, tomorrow is a mystery, and today is a gift––that is why it is called the present.” - Let's open the mystery box now! We (CapitalBox) choose to have ambitious, bright, curious future developing high tech solutions that would benefit us all. So in the present of AI - let's create something meaning. Join #AILithuaniaHackathon organized together with Artificial Intelligence Association of Lithuania and Linkedist. Registration: https://lnkd.in/diKQt2xY

21

1 Comment

#Sharingknowledge and inspiring #founders is central to Movens Capital's work. That is why we are very proud of yesterday's "Foundations of Scaling Open Day Warsaw" event organized in partnership with Google for Startups and one of the world's best business schools, IESE Business School ;- consider their #SchoolofFounders if you are in a seed or Series A startup. Many thanks for sharing your knowledge and experience to: Growth strategy: Prof. Germán Loewe Scaling yourself and your business: Dr Sebastian Ross and a panel of great experts and entrepreneurs Pricing: Wojciech Gorzeń Operational growth procedures: Konrad Kwiatkowski A special tribute to Prof. Germán Loewe for the most elegant definition of strategy I have ever encountered: "#Strategy is Your choice of where and how to compete". #Founders, choose wisely! Maciej Kraus, Przemek Jurgiel-Żyła, Zofia Sidorska, Amelia Niemiec dzieki za super organizację!

52

5 Comments

This week may provide key signals to investors about the future direction of Federal Reserve monetary policy. The focus is on the release of the latest US labour market data and Fed Chairman Jerome Powell's speech. Meanwhile, the final quarter of one of the most volatile years on the markets begins. Here's what you need to know to start the new week successfully. ☑ https://lnkd.in/eE2U3aWf #investments #riskmanagement #assetmanagement #algoimperial #markets #economy #finance #capitalmarkets #earnings #bank #fed #futures #inflation #algotrading #ai #forex #czechrepublic #oil #china #FED #FOMC #BOE #UK #PBOC #ECB #BOJ #Japan

1

Poles are actively participating in contests and promotions, which is clearly visible in the results of the latest IRCenter and Pluxee Poland report. Here is some key information: 🔹 Over the past year, as many as 80% of Poles took part in various types of promotional activities. 🔹 2% of participants say that participating in contests helps them remember brands and products better. 🔹 66% of respondents admit that they are more likely to buy products that offer a chance to win. What motivates Poles to participate? 🔸 The biggest motivator is cash prizes, such as gift cards or eVouchers, which are popular with as many as 75% of participants. 🔸 Clear and simple rules for participating in promotions increase willingness to participate. Good practices in contests are worth paying attention to because: 🔸 Successfully implemented promotional activities not only increase sales, but also build customer loyalty. 🔸 Participation in campaigns promotes better brand recall, which translates into long-term benefits for companies. What about you, do you like to take part in contests organized by e-commerce stores? #Marketing #Contests #Promotions #CustomerLoyalty #Branding #MarketingStrategy.

2

Poland’s privatization launched in the 1990s had resulted in the creation of a vibrant and competitive economy that has been delivering growth well above EUs average, since then. Consecutive governments slowed down and reversed the process, increasing the role of the state in the Polish economy. Did this process alter the competitive conditions of doing business in Poland? Did it impact the Warsaw Stock Exchange and the influx of foreign investment? What was the planned role of Polish Development Fund in supporting the Polish enterprises and how it played out? I will have an opportunity to give a private-equity perspective on these issues during a panel discussion at the European Economic Congress in Katowice on May 7th at 14:00, along with Prof Leszek Balcerowicz of Civil Development Forum, the author of the Polish economic reform and Jacek Bartmiński, the Deputy Minister of State Assets Ministry. 

27

1 Comment

[𝟮𝟬/𝟱𝟬] 𝗗𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝗪𝗮𝘆𝘀 𝘁𝗼 𝗔𝘁𝘁𝗿𝗮𝗰𝘁 𝗙𝘂𝗻𝗱𝗶𝗻𝗴 𝗳𝗼𝗿 𝗬𝗼𝘂𝗿 𝗖𝗼𝗺𝗽𝗮𝗻𝘆 In a month, I will be a speaker in Warsaw at BelTech: Going Global 2.0, where I will discuss “Venture Winter” with my colleagues from the VC world (the conference link in the first comment). Attracting VC money in 2024 is more challenging than it was in 2021. However, there are still several ways to attract non-traditional VC funding. In this post, I want to share 5 methods to secure funding for your company, particularly if you’re struggling to attract VC money or prefer not to: 𝟭. 𝗬𝗼𝘂𝗿 𝗖𝗹𝗶𝗲𝗻𝘁𝘀 This is the most obvious and cost-effective method for securing funding, yet many companies hesitate to ask their clients for prepayments or long-term contracts. Large corporations, however, may find it advantageous to receive a 10-15% discount in exchange for prepaying for one or two years. While B2C companies sometimes prefer selling monthly subscriptions to maintain higher MRR, annual subscriptions can offer more upfront cash for development. Clients can significantly improve your cash flow, so don’t shy away from exploring this option. 𝟮. 𝗩𝗲𝗻𝘁𝘂𝗿𝗲 𝗗𝗲𝗯𝘁 Venture debt is often used alongside VC funding when you’ve raised only part of the necessary capital or wish to avoid diluting your ownership in the current round. Lenders typically charge higher interest rates compared to traditional debt. In some cases, venture debt providers may ask for additional rights, such as veto rights or even a board seat to protect their interests. 𝟯. 𝗥𝗲𝘃𝗲𝗻𝘂𝗲-𝗯𝗮𝘀𝗲𝗱 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 This type of financing is ideal for companies with a subscription model. The concept is simple: you receive funding in exchange for a percentage of your monthly revenue. Each month you’ll transfer some percentage of your revenue to the lender. 𝟰. 𝗚𝗿𝗮𝗻𝘁𝘀 Many countries and organizations offer grants, especially if your project focuses on sectors like climate tech or energy. These grants can be a great source of non-dilutive funding. 𝟱. 𝗕𝗮𝗻𝗸𝘀 Banks are increasingly competing with fintech and VC players, leading to the creation of new products for startups and scale-ups. I recommend speaking with your bank about these offerings. For instance, some banks offer loans backed by Apple Store or Google Play accounts receivable as collateral. In addition to these options, you might also consider more exotic or risky ones like reaching out to wealthy friends, exploring crowdfunding, ICOs, or leveraging free products or services as alternatives to VC funding. In the current market, cash is king, so be open to different sources of capital, but always be mindful of how each option will impact your future growth and subsequent VC rounds.

21

1 Comment

Startup Funding Bootcamp for early stage founders - if you're fundraising or just looking forward to better understanding how it works - click the link below to apply. If you're thinking "no, too little unicorns" ... definitely checkout the video below! #startups #vc #investment #unicorns #gobigorgohome

6

Our friends from BalticVC, a media about startup and venture investment in the Baltic region, want to know more about the typical technology entrepreneurs in Estonia, Latvia, and Lithuania. 🚀 More specifically, education, experience of working in startups, etc. They would like to understand the startups' needs, willingness to raise venture investment, the sales territory, and the potential to expand into other regions. This data, presented in the form of a study not only in BalticVC, but also in one of the largest European startup media, will help attract the attention of major international investors to the Baltic region. 📊 The survey takes not more than five minutes. The survey data will be generalized and used anonymously. ⏳ The survey: https://lnkd.in/dPq5U47Y 📲

10

1 Comment

Today AIM Invest has been granted financial brokerage company license by Lietuvos bankas | Bank of Lithuania 😊 It's a BIG day for a SMALL company's GROWTH acceleration 💪 Soon we'll be ready to provide prudent portfolio management, wise investment advise and other investment services to grow your wealth. Many thanks to Karolina Lapinskaitė and many others from TGS Baltic for the full support on this challenging journey 👍 #portfoliomanagement #investments #brokerage

134

16 Comments

Taylor Economics has released third edition of the report on Polish deep tech startups! The report’s partners were the Polish Agency for Enterprise Development, Accelpoint, PKO Bank Polski and the Pomorski Park Naukowo-Technologiczny Gdynia / Pomeranian Science and Technology Park Gdynia In this edition, the analysis covered 225 companies registered in 2018-2022, representing high-tech industrial and high tech knowledge service sectors. In the report, the reader will find information about the ownership structure of startups, changes in ownership packages and the financial analysis of deep tech startups. How many companies generate revenues and profits? What is the structure of startup financing? What is the share of the venture capital sector in Polish deep tech ecosystem? Do R&D grants support startup development? the report includes interesting case studies of technology startups and information on the prospects for startup development. We invite you to read the free report DEEP TECH STARTUPS POLAND 2023  https://lnkd.in/dHTADgiC prepared by Taylor Economics and the author's team: Michal Przybylowski, PhD, Piotr Tamowicz PhD, Michał Bańka Ph.D, Darek Lubomski, Anna Zamojska PhD. #startup #hightech #venturecapital #poland #deeptech #innovations

13

Top 5 Industries Dominating the Lithuanian Startup Scene. Lithuania's startup ecosystem is booming, with 963 active startups marking a 13% increase over the past year. Key sectors include business software (25%), FinTech (15%), health technologies and wellness (10%), advanced manufacturing (7%), and AdTech (6.5%). 🌟Business Models: - 70% B2B - 30% B2C - 5% B2G 📈 Emerging Trends: - Growing AI field: Spike secured $3.5M, Pixevia raised €1.5M. - Potential breakthroughs in green innovations and biotechnology. 🔍 Insights: - Lithuanian startups contributed €91.5M in taxes in Q1 2024. - Employ 18,000 talented individuals. Vilnius and Kaunas are top EU cities for medical technologies, showcasing Lithuania’s leadership in life sciences and wellness. Lithuania solidifies its position as a hub for startup activity, offers numerous opportunities for high-value business creation. The future looks promising, with continued innovation and expansion. As the message to aspiring entrepreneurs is clear: pursue your passion, embrace innovation, and create real value through technology. #Lithuania #LithuaniaStartups #LithuaniaCoCreate More: https://lnkd.in/dM89dS2J

1

Last but not least, two more startups from my pipeline invited to the pitch session on April 17th in Riga. I'm sharing the details with fellow investors — DM me to get the deck or make an intro. 🇬🇧 BNDL AI  Your personal interior designer capable of matching furniture & decor from multiple stores. Raising €450k. #AI #SaaS #Marketplaces  https://lnkd.in/d7Gib4HK 🇵🇱 mowaAI  Data companion that provides actionable insights in seconds with a simple chat interface, backed by TechStars. Raising €1.5M. #AI #SaaS  https://lnkd.in/d7bCHMJN 

51

1 Comment

News from 4PM Ventures We are pleased to announce that the willingness to cooperate with us, to jointly invest in startups that will come to the https://lnkd.in/enNVcpHT, to develop the ecosystem is supported by more and more partners and venture funds. Meet the Polish fund Impera Alfa ASI Sp. z o.o. and join our lab. Startups with a Healthtech focus have time to apply by June 8 to participate in the laboratory. And another important offer for private investors and venture funds: we know that you have investments in healthtech startups with the focus of our laboratory. We also know that many of them are developing more slowly than you would like, or maybe there is a question about pivot. Send startups to our laboratory, we are sure that many of them will develop faster and solve problems that hinder their development. More info here 4PM Ventures #vc; #health; #healthtech; #4PM; #medicine; #medicaldevices; #rehabtech

3

2 Comments

85.8% of shareholders at the time of registration, were natural persons, while 14.2% were legal entities. What was the shareholder structure broken down into startup categories? Did Venture Capital funds appear already at the stage of establishing companies? We invite you to read the free report DEEPTECH STARTUPS POLAND 2023 👉 https://lnkd.in/dHTADgiC [EN] 👉 https://lnkd.in/dadCp3nM [PL] prepared by Taylor Economics and the author's team: Michal Przybylowski, PhD, Piotr Tamowicz PhD, Michał Bańka Ph.D, Darek Lubomski, Anna Zamojska PhD. The report’s partners are the Polish Agency for Enterprise Development, Accelpoint, PKO Bank Polski and the Pomorski Park Naukowo-Technologiczny Gdynia / Pomeranian Science and Technology Park Gdynia #startup #hightech #venturecapital #poland #deeptech

5

Breaking Barriers: Enabling Smaller Investors in VC Funds In a recent Gazeta Finansowa article, our CEO Darek Żuk addresses a critical issue in Poland's VC landscape: the exclusion of smaller investors from VC fund investments. Key points raised by Dariusz: 1. High entry threshold: Current regulations require a minimum investment of €60,000 in VC funds, effectively blocking smaller investors from participating. 2. Limited access: This high threshold prevents many potential investors from diversifying their portfolios with VC investments. 3. Untapped potential: Smaller investors could significantly contribute to the growth of innovative startups if given the opportunity. 4. Need for regulatory changes: To unlock this potential, adjustments in legislation are necessary to lower entry barriers for VC fund investments. At AIP Seed, we believe that democratizing access to VC investments is crucial for fostering innovation and economic growth. By allowing smaller investors to participate, we can: ↗ Increase the capital available for promising startups ↗ Diversify the investor base in the VC ecosystem ↗ Potentially accelerate the development of groundbreaking technologies We're advocating for changes that would make the VC landscape more inclusive. How do you think lowering investment thresholds could impact Poland's startup ecosystem? Join the conversation on creating a more accessible and dynamic VC environment in Poland. #VentureCapital #InvestorInclusion #StartupEcosystem #PolishInnovation https://lnkd.in/dsarY4H2

17