Anis Uzzaman, General Partner & CEO of Fenox Venture Capital, was invited to speak at the Kiev National University, which holds an important position in the capital city of Ukraine. He explained fundraising techniques and strategies on how to lead successful businesses. He also drew on his experiences in Silicon Valley and the Venture Capital industry.
Anis mentioned that startup companies in Silicon Valley are truly integrated on a global scale. For example, three prize winners out of seven companies on Tech Crunch 2011 San Francisco were Israeli companies. These companies have offices in Silicon Valley and they received recognition and fundraising from Silicon Valley-based investors. Anis advised potential entrepreneurs, “to launch your company if you have an idea; try it, and never give up.” Kiev is gradually establishing strong connections to Silicon Valley, which will provide access to support and feedback from top investors and professionals within the VC community.
In recent years, dramatic changes occurred within the IT industry. Following the shift from the era of Google’s search engine to the dominance of Facebook’s social media model, no one could guess what might shake the very foundation of the industry again. Anis indicated that it is necessary to build practical services for the Ukraine in following the latest trend, e.g., the virtual marketplace.
However, Anis added that if the market size is less than US$100M, investors would not be interested in the companies from the sector. For this reason, it is important to fundraise during each stage of the project with structured plans.
Anis stated, “Our fund is global, allowing us to invest in companies from Ukraine, China, or Africa. The Ukraine is home to many talented engineers and experts. Ukrainian public enterprises and other projects are expected to be expanding into global markets in the near future.
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