Andrei from Accel Partners on what he looks for in companies he invests in – #AfterDinnerRoundup
We were over at Obicà this week to have dinner and drinks with Andrei Brasoveanu, from Accel Partners. With over 30 years of experience in the field of start-ups, Accel Partners has a long history of partnering with outstanding entrepreneurs and Andrei himself has helped entrepreneurs build over 300 successful companies focusing on software, data and fintech businesses.
Our guests were treated to a discussion about what investors seek in new companies who are approaching accelerators such as Accel Partners. Andrei spoke about his role at the company and their work with early stage investments. One of the key questions we all want to know is:
When is the right time to approach a VC such as Accel?
Andrei says:
We like to meet people early and then follow them to see their evolution. We want to see if you’ve achieved the goals we talked about at an initial meeting.
Andrei encourages companies to get in touch in the early stages of your business as Accel Partners are comfortable backing two-people teams with an idea and a solid business plan. So what is the major reason why an early stage investor would say no?
Market size – we hope to return a small fund from an investment. It may be a solid business plan, but if the market is too small, we can’t take it on.
Andrei also highlighted the importance of momentum from fundraisers when trying to launch a business. This kind of momentum is key to getting other potential investors involved, and hopefully, ignite a spirit of competition among them.
TOP TIP: It’s important to get investors excited at the same time. There should ideally be some competition between investors.
Andrei finished his informative talk by stressing how although as an early-stage investor, Accel wants to be there for their companies, ultimately, the best entrepreneurs are the most self-sufficient.
Our speaker was joined by: Pearlshare, Grow Movement, Synasource, OpenBet, 93Digital, ClearMacro, Sentenial, Huge, PressUp, OneLane, GameBench, Texuna Technologies, NBC Universal, Playabl, and Hudson Mackenzie amongst others.
Looking to hear more from investors and relevant speakers? Check out our upcoming dinners here.
