Fortech Investments: Supporting Startups in CEE and Beyond
Since 2021, Fortech Investments has emerged as a prominent player in the startup scene in Central and Eastern Europe (CEE) and beyond. Founded in Cluj, Romania, and spearheaded by Valentin Filip, this venture fund has injected up to €500K in 15 early-stage startups across a range of industries, including Healthcare, Manufacturing, Automotive, Energy, FinTech, and more. Noteworthy companies that have reaped the benefits of Fortech’s investment include Bright Spaces, Easy Sales, Telios Care, Synaptiq, and FindMeCure.
Valentin Filip on Analyzing Startups and Deal Breakers
In an interview with Valentin Filip, he sheds light on how Fortech Investments thoroughly analyzes startups and the potential deal breakers they may encounter during the due diligence process. Valentin underscores the importance of founders having a clear understanding of their target market and refraining from addressing too many buyer personas, as this often leads to confusion and a lack of focus. He also notes that deal breakers are typically addressed prior to the due diligence phase, and advises startups to come well-prepared with a comprehensive data room to substantiate their claims.
Investment Thesis and Portfolio Companies
Fortech Investments concentrates on strategic investments in early-stage startups, particularly in sectors where they possess technical and business expertise. Synergy plays a crucial role in Fortech’s approach, as they strive to create connections and collaborations among their portfolio companies and partners. The fund primarily engages in seed and late seed rounds, with a specific focus on B2B startups. At present, Fortech boasts a portfolio of 15 companies and remains receptive to investments across different geographies, albeit with a priority on the CEE region.
Founders Looking to Raise Money from Fortech Investments
For founders seeking to secure funding from Fortech Investments, Valentin recommends carefully evaluating whether the VC path is the suitable option for their startup. He emphasizes that venture capital is not the sole source of funding, especially in the early stages. If founders decide to pursue VC funding, they should thoroughly research Fortech’s fund, investment thesis, and existing portfolio companies to ascertain if there is a good fit. Establishing a strong relationship with the fund is paramount, both professionally and personally.
Common Mistakes in Startup Growth and Valentin’s Advice
One common mistake observed by Valentin among founders is attempting to cater to too many buyer personas, in a bid to expand their market size. He advises founders to zero in on a niche market that can be comprehensively understood, while still being substantial enough to attract the attention of venture capitalists. Understanding the target market and adopting a clear and focused approach are key to achieving startup growth and success.
Upcoming Events to Meet Fortech Investments
Fortech Investments actively participates in various startup events to connect with entrepreneurs and explore potential investment opportunities. They recently attended sTARTUp Day in Tartu, Estonia, and have more events on their radar for 2024.
These gatherings present founders with the opportunity to meet Valentin and his team, gain deeper insights into Fortech Investments, and discuss their startup ideas.
Analyst comment
Positive news: Fortech Investments has been a key player in supporting startups in Central and Eastern Europe (CEE) and beyond, investing in 15 early-stage startups across various industries. They focus on strategic investments and aim for synergy among their portfolio companies. Founders looking to raise money should thoroughly research Fortech and build a strong relationship with the fund. Common mistakes in startup growth can be avoided with a focus on a niche market. Fortech is actively participating in startup events to connect with entrepreneurs.
