Beginning of the year is the perfect time to reflect on the work we have done so far. This is our overview of the 2019 highlights that go beyond investing.
On that note, being a VC fund manager is a lot more than just giving away an investment capital and then waiting for an exit. To be a successful support to a company in your portfolio it takes being 100% committed to your mission. That includes:
- choosing the right partners and working with them
- making the right connections to strategic business partners
- offer the know-how needed to achieve a successful growth.
We invested a total of €25,4M in tech companies in Western Balkans with the addition of €35,5M of follow on investments into our portfolio by external partners
Our portfolio has grown by 7 new innovation-driven companies, making the portfolio of total 27 investments. We have also led or participated in a great number of follow on investment rounds into our portfolio stars. Follow on investments amounted to the sum of €35,5M on top of the investments by ENIF, increasing the value of the portfolio and proving that other investor see the value of solutions from our portfolio companies.
Key portfolio milestones in 2019:
- Cognism raised $10M follow on investment round
- ConveyIQ acquired by Entelo
- 7 new investments
- increasing number of strategic partnerships 👇
The year 2019 was marked with a high number of major strategic partnerships for our portfolio companies like Sentinel Marine Solutions partnering up with Hanse, the biggest boat manufacturer in Europe, both AdScanner and Hunch got accepted to exclusive Google Marketing Innovation program, Uhura Solutions became a part of Fintech Europe Plug and Play acceleration program and many more. Our portfolio is very active in searching for new opportunities to create sales leads, whether it be an exclusive acceleration program, pitching contest or connecting with partners that can add value and catalyse growth.
For this purpose, we brought together all portfolio members, fund investors and SCV team on the 3rd SCV Summit to share and learn from each other’s experiences. The main topic of this year’s SCV Summit was cooperation between disrupting innovation-driven companies and tech giants. For this purpose, we invited keynote speakers coming from big corporation offering a real-life advice from their experience of working with innovative tech companies combining the best of both worlds.
In addition to SCV Summit, we have participated at more than 50 events in the region as mentors, members of the jury in various pitching contests, speakers and thought leaders on the topics related to VC-startup ecosystem as the leading VC fund in the Western Balkans.
All that was coordinated by SCV team that has been strenghtened by 2 new investment managers and 1 marketing expert, providing the support to the portfolio companies on an even higher level.
All those events aggregated to us being named Croatian National Category Representative for Investor of the Year award by CESA.
These are just a few of the highlights from 365 days behind us that inspire us to make the next 366 even better.
Others on working with SCV
SCV is the only institutional venture capital firm in this region and I think it’s important for someone like EBRD to be partnering with SCV in providing finance to these companies which have great ambitions and the opportunity to really tackle global markets and SCV being a valuable partner for us in that regard. — Michael Parry, Associate Director EBRD
When I see all these startups, all these entrepreneurs sharing ideas, information on how to do things, how to implement a new business model, I mean — this is innovation, this is something that is really appealing for investors, for member states and I think the European Union and the EIF are very proud to support this type of initiative. We are very happy with the team, they are very innovative, source good deals, they have managed to build a portfolio in a region which is quite complicated so thanks to the team as we managed to fuel some capital in startup companies in various countries of the Western Balkans and I think this is great for the economy. — Philippe Bernard-Treille, Senior Investment Manager EIF
One of the main things is that we get to stay in touch with the companies that have similar challenges to ours, learn from each other especially in different life stages and different life cycles of a startup in the growth phases and that we learn from them, not making the same mistakes and keep the exchange of experiences up. — Marin Curkovic, co-founder of AdScanner and a member of SCV portfolio