Arkady Moreinis, Glavstart: "I work with startups, but do not sell coffee boxes"
The head of Glavstarta, Arkady Moreynis, opens a $ 5 million venture fund in the spring. The fund invests 10 to 15 new projects during the year. This businessman told in an interview with UNOVA.
What are the criteria for your investment focus?
First, a sound idea (business model + investment attractiveness). Secondly, the project team / leader. He must have the competence to solve one of the key tasks of the company: technological, marketing, sales, or (rarely) organizational. Thirdly, time (the company should reach investment attractiveness) for 6-12 months. Fourth, the money: up to $ 100 thousand in the project.
What is the business model of Glavstart itself?
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At the initial stage, we issue money in advance negotiated tranches for a certain period. Instead, we get a share in the projects. But our goal is not to keep the project, but to bring it to the next stage of financing. On the way, I have the opportunity to sell part of the share: for example, to a private investor (a person not from the market). There are many private investors and they have free money. The reason for their low investment activity is the lack of expertise. I can point them to understandable projects and trusted people. Selling a stake to investors will help me pay back my own investments in projects.
The second part of the share is brought to the stage of venture investment. This will ensure the operational break-even of the factory, and it will bring me pleasure: after all, I work with start-ups, rather than selling coffee boxes.
How many projects can you invest?
My global goal is 30-50 projects per year. It is clear that quite soon I will need other people's money. Most likely, in the spring I will raise the fund. I think that now is the time, because projects are gradually emerging. I also accumulate a pool of private investors. And finally, I invite venture investors to look at my projects.
Tell us about your mentoring system.
We are the first to create such an institution in Russia. Now we have 40 expert mentors. And at each new event all new people join us. The rule for all is the same - this is the “fight club” rule. Work with projects, collect a certain number of positive responses, and welcome to our team.
How is a mentor different from a business consultant?
Functionally nothing. But a business consultant is usually a chatterer who sells memorized business schemes for your money. Mentor is a participant in the project and is interested in its success. A business consultant works for money. Mentor money is not paid: he gets a share. The job of a mentor is to do business, he is a market participant himself. He has business experience.
You had experience as an investor and top manager. What is closer to you?
Of course, its business. I have been involved in business since 1991, I have been working as a top manager at Rambler for about 1.5 years. Why I left Rambler: we did not agree on a share, I wanted to be participants in the project and be interested in it. I am not a top manager.
Full interview on UNOVA website
What are the criteria for your investment focus?
First, a sound idea (business model + investment attractiveness). Secondly, the project team / leader. He must have the competence to solve one of the key tasks of the company: technological, marketing, sales, or (rarely) organizational. Thirdly, time (the company should reach investment attractiveness) for 6-12 months. Fourth, the money: up to $ 100 thousand in the project.
What is the business model of Glavstart itself?
')
At the initial stage, we issue money in advance negotiated tranches for a certain period. Instead, we get a share in the projects. But our goal is not to keep the project, but to bring it to the next stage of financing. On the way, I have the opportunity to sell part of the share: for example, to a private investor (a person not from the market). There are many private investors and they have free money. The reason for their low investment activity is the lack of expertise. I can point them to understandable projects and trusted people. Selling a stake to investors will help me pay back my own investments in projects.
The second part of the share is brought to the stage of venture investment. This will ensure the operational break-even of the factory, and it will bring me pleasure: after all, I work with start-ups, rather than selling coffee boxes.
How many projects can you invest?
My global goal is 30-50 projects per year. It is clear that quite soon I will need other people's money. Most likely, in the spring I will raise the fund. I think that now is the time, because projects are gradually emerging. I also accumulate a pool of private investors. And finally, I invite venture investors to look at my projects.
Tell us about your mentoring system.
We are the first to create such an institution in Russia. Now we have 40 expert mentors. And at each new event all new people join us. The rule for all is the same - this is the “fight club” rule. Work with projects, collect a certain number of positive responses, and welcome to our team.
How is a mentor different from a business consultant?
Functionally nothing. But a business consultant is usually a chatterer who sells memorized business schemes for your money. Mentor is a participant in the project and is interested in its success. A business consultant works for money. Mentor money is not paid: he gets a share. The job of a mentor is to do business, he is a market participant himself. He has business experience.
You had experience as an investor and top manager. What is closer to you?
Of course, its business. I have been involved in business since 1991, I have been working as a top manager at Rambler for about 1.5 years. Why I left Rambler: we did not agree on a share, I wanted to be participants in the project and be interested in it. I am not a top manager.
Full interview on UNOVA website
Source: https://habr.com/ru/post/113886/
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