Here are some answers to the most important questions we get asked from founders and private investors.
At what stage do we invest? What’s our usual ticket size?
btov is an early stage venture capital firm. We invest in companies in Seed and Series A financing rounds with tickets from EUR 1’000’000 to EUR 5’000’000. Our average ticket size amounts to EUR 1’000’000. We are prepared to invest significantly in follow-on financing rounds in later stages of your company.
What is our industry or sector focus?
We have two investment teams. One is focusing on digital tech and the other on industrial tech. The Digital Tech Fund invests in B2C- and B2B-oriented businesses in the fields of commerce, marketplaces, mobile and software. The Industrial Tech Fund places its focus on deep tech, e.g. in industry 4.0, resource efficiency, industrial AI, IoT, enterprise software, cyber security, as well as medtech.
The Private Investor Network follows an opportunistic investment strategy, i.e. we invest in tech-companies from various industries that have the potential to generate a return of x10 on the invested capital.
What is our geographic focus?
We are focused on Europe. With offices in Berlin, Munich, Luxembourg and St.Gallen we have an emphasis on the German-speaking area (DACH). We also invest outside of Europe on a case-by-case basis, if we have a trusted, local lead investor.
How active are we as a firm?
We close 30-40 investments per year, of which approximately 30% are new investments and 70% are follow-on investments of our existing portfolio. In 2019, we managed 51 transactions and invested a total of EUR 53m in startups.
How much capital does the firm manage?
As per 2020, btov has EUR 500m in AuM across btov venture capital funds, managed partner funds and the Private Investor Network. So far we have raised 5 btov funds and 3 managed partner funds.
What does the investment process look like?
After we received your materials, we will evaluate your fit with our investment strategy. We then arrange a first meeting or phone call to get to know each other better. If the impression of this initial contact is positive, we follow-up with a second meeting or phone call to focus on areas where we still have questions and to introduce btov in greater detail. Sometimes a different set of people from our investment team will be present in the follow-up. If all the prior steps are passed, we make some reference calls and discuss in our weekly meeting with the investment team to come to a decision. The duration of the process ranges from a couple of weeks to a few months. In any case, you will receive feedback from the investment team.
Can the btov funds, the managed partner funds, and the members of the Private Investor Network only invest together in my company?
btov’s venture capital funds and the Private Investor Network can invest independently from each other.
Most of our investments are involving one of our funds and selected members of the Private Investor Network. Hence, if applicable you will be introduced to our team that manages our Private Investor Network to coordinate a simultaneous engagement of selected members of the network. We invest as a syndicate, i.e. we pool individual investments of our funds and members, so that btov appears in one or two positions on the capitalization table of your company. The interactions with the btov investors will be steered by btov. Most of our members have built companies themselves, including CortalConsors, HolidayCheck, Realtime Technology, or Scout24.
How does btov support portfolio companies?
We have participated in the development of successful tech companies. If demanded, we will aggregate all our resources – ranging from our personal networks to sector-specific expertise – for you to follow in the footprints of prior success stories.
How should I get in touch with btov?
We value referrals from people we like. However, good ideas can come from everywhere so do not hesitate to reach out to us via our contact website to pitch us your company.
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