Building Conviction in Baltics: The Case for Emerging Fund Managers. Moderated by Andris K. Bērziņš

Emerging Fund Managers

• Definition: Emerging fund managers are those who come from a different platform, have experience, and spin off with their own fund.
• Timing is crucial for emerging managers.
• Key factor for success is community and local knowledge.

Building Conviction

• Focus on regional or vertical expertise.
• Use specialized fund investors for the right track.
• Timing is essential for success.

Valuation of Emerging Managers

• Not a one-size-fits-all approach.
• Each founder has different needs.
• Communities count more than videos or tutorials.

LPs and Emerging Managers

• LPs should consider investing in emerging managers.
• Emerging managers can take risk and invest in earlier stages.
• They can fill gaps where larger funds don’t.

Platform Funds

• Few platforms focus on early stages, precede seed.
• Commoditization of accelerators.
• Platforms not always the best fit for early-stage founders.
• Signaling effect of a tier one fund is important.

Local Capital

• Undercapitalized markets like Baltics have more opportunities.
• Local connection is more valuable than online connections.

Scouting

• Small funds need to scout for deals.
• Partner level connections help.
• Leaning on other funds can be done.

Mistakes and Write-Offs

• Emerging managers may make more mistakes since they invest earlier.
• Personal conversation and community count more than YouTube tutorials.

Building a Community

• Building a community of health tech founders can be valuable.
• Community counts more than the type of fund or platform.