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Newsletter February 2016 | View online version
 
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b-to-v Newsletter February 2016
 
 
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Dear Readers

This preface is about "When business angels abuse their position and network".
 
Right from the foundation of b-to-v in 2000, we wanted to avoid the term
"business angel" and build a network of “entrepreneurs investing privately
in start-ups”. The reasoning is simple: the title “business angel” is not
protected. Everybody can proclaim themselves a business angel. No proof or
training required. As a consequence, there is a staggering number of
unimpressive personalities in the market who refer to themselves as business
angels. Some of them are, however, not a heaven-sent blessing (“angel”) for
a start-up. Quite on the contrary, they are capable of detrimental
contributions, possibly landing the start-ups they support in hell...

This is why we are very selective at b-to-v with regards to the admission
of new members to our network. Nevertheless despite our best efforts, we
actively terminate memberships of individual members (two in the past 12
months), when we find that we do not share the same perspectives and opinions in
view of the role of a professional business angel. So what are our beliefs?
  • We believe that a real business angel invests cash in start-ups.
    He supports a promising start-up with at least a five-digit amount. His
    investment stems from his own money, i.e. he has “skin in the game”. And he
    invests on a regular basis. Nota bene: He who sits in 20 lunch meetings with
    start-ups per year, sees all sorts of presentations, kills them all and
    ultimately invests nothing at all or only once every two years, we consider
    him a member of the wrong network or he is simply not a business angel by our
    definition.
  • We believe that a real business angel will lead his portfolio
    companies with great care and prudence. He is a smart coach. He knows how to
    motivate and strengthen his team. He has empathy and can read people’s
    personality, and adjust his communication accordingly. He leads mostly by
    asking questions, making suggestions, showing best practices,
    and making introductions. When talking to others, he will always
    (always!) stand behind his team and support them – even if things go South
    and even if it is more comfortable to say “That’s what I had told them from
    the very beginning…”.
  • We believe that a real business angel will not require his
    portfolio companies to compensate him for his support. His upside (and
    compensation) comes from his stake in the company that he owns due to his
    cash investment. He will not require any additional cash-kick-backs, not for
    introductions to potential investors or business partners, not for Reviews
    of the business plan. He may ask for a seat on the board of directors if his
    expertise and experience and reputation may be of help. But at the same
    time, he understands that this seat may be taken over in later rounds by
    larger institutional Investors.
     
  • We believe that a real business angel is self-reflective and
    knows that he can be (and often will be) wrong. And by acknowledging his own
    fallibility, he also acknowledges that his interaction with the start-up
    team is not the interaction between a master and his apprentice, but rather
    the interaction between two talented apprentices (or masters, for that
    matter…).

We know that his is a controversial subject. And some readers may in fact
argue that these rules are too idealistic. But there is a fine line that
connects start-ups with idealism.

Please feel free to share your opinion with us on the matter.

Alexander & Florian
 
 
 
 
 
 
 
 
 
 
Deals Done
Check out the latest investments b-to-v has closed.
 
 
 
 
 

 

Testbirds GmbH receives EUR 2 mio in funding

 

b-to-v portfolio company Testbirds GmbH is a leading service provider for innovative software testing. b-to-v teamed up with two other venture capital firms, EXTOREL and Seventure Partners to complete this expansion round. b-to-v Principal Benedikt Kronberger: "There is no way around quality and business success in comprehensive software testing of every branch. The team convinced us of their plans for expansion and the development of their testing-services..."

 
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b-to-v participates in BUX’s most recent financing round together with Holtzbrinck Ventures

 
BUX B.V. just completed its third financing round in the amount of EUR 6.1 mio only one year after its establishment. The app for iOS, Apple Watch and Android allows users easy access to trading and investing in financial markets. After having achieved promising traction at home in the Netherlands and thereafter in the UK, BUX is now focusing on the German market. For the complete press release, please click the button below.
 
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b-to-v investors sell shares of WinLocal
 
In 2008 a group of b-to-v investors learned to know Carsten Schmidt and John Goddard, both founders and Co-CEOs of WinLocal GmbH. We have been impressed by the founders, their energy and focus. It has been a very long and fruitful journey for all of the years. Now Funke Group has taken over our holdings in WinLocal. Carsten will stay with the company at least for some several years to the benefit of all of us. Carsten and John, our joint journey at WinLocal has come to an end and we very much look forward not only seeing you again and again in the future but also jointly support other ventures with teams hopefully similar to you two. Relating to the editorial above we know that we are in good family with you. Thank you very much for putting so much energy and passion in this company!
 
Thank you also, Konstantin Urban, for having introduced the team to us! Thank you Stefan Morschheuser for having taken the role as Lead Investor and thank you, dear co-investors for having backed the founders in our b-to-v syndicate - this has been a most pleasant journey with all of you.
 
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News
Check out the latest news about b-to-v and its portfolio companies.
 
 
 
 
 

 

b-to-v’s portfolio company Quanta gives dialysis patients’ control of their own health
 
Quanta Fluid Solutions brings the comfort to your sitting room - long hospital visits could be a thing of the past for many kidney patients as Nottingham trials smaller machine to boost low rates of home dialysis.
Please have look by clicking the button below.
 
 
 
 
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Data Artisans GmbH sets new global benchmark in data analysis

 

We are full of admiration for what the team of data artisans has achieved during the last 18 months – here one example of many: At twitter, an engineer tested flink of data artisans to run a data streaming analysis. Stunning result: Same work with 300 times (!) less server resources and the engineer quits twitter to join data artisans. Congratulation data artisans and welcome Jamie! Please read his full blog post by clicking the button below.

 
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b-to-v company Electrochaea GmbH is the perfect collaboration partner for P2G project BioCat

 
Cost-effectively converting CO2 from biogas production and excess electricity from wind and solar into natural gas is no small feat. The need to store surplus energy from the growing renewable energy sector is increasing day by day. b-to-v portfolio company Electrochaea GmbH is at the forefront of this development, working on the large-scale "BioCat" demonstration project at the BIOFOS Wastewater Treatment Plant in Avedore, Denmark. For more information, have a look at the article by clicking the button below.
 
 
 
 
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CoMatch: independent consultant platform is growing and expanding to the Nordics
 
deutsche-startups recently interviewed Christoph Hardt, founder of b-to-v portfolio company, Comatch GmbH. The start-up matches highly-qualified consultants with clients that need occasional expert advice. Thanks to Comatch, decision makers save time and money, reach more confident conclusions and enjoy more flexibility. To read the interview, have a look at the the article here.

Moreover, the firm just announced that it expanded to Scandinavia, establishing a new office in Copenhagen. To learn more about how far the team has come and how the idea has morphed over the last months, have a look at the article here.
 
 
 
 
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3D Printing meets architecture
 
BigRep GmbH presented “Eckwerk”, a large-scale architectural model printed with its 3D printer. BigRep successfully printed the model within a very short time and at a low cost. The following video succinctly shows the genesis of the model:
 
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Jobs
Check out the latest job opportunities that b-to-v and its network have to offer.
 
 
 
 
 
 
b-to-v portfolio companies are looking for some talents:

TargetVideo GmbH:
 
Online Video Editor/Journalist (f/m): For the job description, please have a look here.
Audience Development & Marketing Manager (f/m): If you are creative and performance-oriented, and want to develop and expand media brands of the future, please apply via email to: Agnes Sterr
Web Developer PHP (f/m): For the Job description, please have a look here.
 
Software Engineer – REST API / Backend (Zurich, Switzerland) (f/m): Beekeeper is looking for a full time Backend Software Engineer, who will be working on providing a rock solid and documented REST API. Apply on here.
Business Development Internship (Zurich, Switzerland) (f/m): Beekeeper is looking for a fulltime Business Development Intern, who will support our Marketing and Sales Team. Apply on here.
Software Engineer - Web / Frontend (Zurich, Switzerland) (f/m): Beekeeper is looking for a full time Software Engineer with main focus on web app development. Apply on here.
Software Engineer - Mobile (iOS / Android) (Zurich, Switzerland) (f/m): Beekeeper is looking for a full time Software Engineer with main focus on mobile app development (iOS or Android). Apply on here.
 
Head of design - engineering for development / construction (mechanical / plant) in Berlin (f/m): Please see the job description here.
Team Manager Technical Service (f/m): Please see the job description here.
Back Office - Sales Support (f/m): Please see the job description here.
Senior Key Account Manager DACH (f/m): Please see the job description here.
Please apply online at the link here.
 
 
 
Intern Venture Capital Internet & Mobile Investment
at b-to-v
 
Our Internet & Mobile portfolio companies are mainly active in FinTech or operating a marketplace business model but have the potential to transform existing industries and to become market-leading internet business. In the past we backed companies such as Facebook, Flaconi, Finanzcheck, Linguee or XING. We are currently investing our third fund and are looking for an Intern Venture Capital Internet & Mobile Investment Team.
 
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Events
Check out the next b-to-v events and events in b-to-v's network.
b-to-v events are exclusively reserved for b-to-v Investors.
Interested in a b-to-v membership? Please contact Alexander Stoeckel
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NextFloor’s 1st Austrian Venture Academy in partnership with b-to-v
 
at Hotel Ammerhauser
A-5102 Anthering
 
On March 10th and 11th, 2016 NextFloor will be hosting their 1st Austrian Venture Academy in Salzburg. The object of the Academy is to inform the investors about potential risks and returns of direct investments in start-ups. Participants are invited to apply the concepts to real start-up cases and listen to experienced investors. The 1st Austrian Venture Academy is focused on the analysis of deal-flow and the structuring of term Sheets. The Academy also acts as a networking platform.

b-to-v  supports NextFloor, will be holding sessions during the event, and invite companies from its deal-flow to present themselves towards investors.

NextFloor has graciously waived the regular Academy fee of EUR 1'750 for b-to-v members. Only allocation and lodging will be charged at a price of EUR 150.

The NextFloor Team can be reached at (+43 699 190 44 090 / contact@next-floor.at)
 
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START Summit on March 18-19, 2016 in St. Gallen
 
START Summit 2016 is one of Europe‘s largest entrepreneurship and  tech  conferences.  It  is  Switzerland‘s  most  important gathering  of  investors,  young  entrepreneurs,  start-ups  and  corporates  seeking new  market  opportunities.  A  professional  event  location  for  1500  participants,
co-operations  with  industry  leaders  and global shapers will make the START Summit Europe’s  most  important  hub  for  connecting business and tech.
This year’s  conference  revolves  around FinTech,  Internet-of-Things  and  mobility  with  a  geographical  focus  on  Israel.  We will  welcome 800 students, 300 early-stage start-ups, 100 corporates and approx. 100 investors from Switzerland  and  Europe. 
 
b-to-v has a very small number of free investor tickets (market value CHF 500 per ticket) for b-to-v members only, to be distributed on a first-come-first-served-basis. For more information, please contact Benita Xheladini.
 
 
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NextFloor’s Easter Pitch 2016 in partnership with b-to-v
 
at the Solitär
Mirabellplatz 1
A-5020 Salzburg
 
On March 22nd and 23rd, 2016, our colleagues from NextFloor will host their first Easter Pitch event in Salzburg/Austria.

During the two-day event, a number of start-ups from Austria, Switzerland and Germany will present their ideas to private and institutional investors. b-to-v supports the event and was invited to present companies from its dealflow, too.

A trip to Salzburg would not be complete without a cultural outlet. Since the event will take place during the Salzburger Easter Festival, participants are encouraged to attend a concert or other surrounding events associated with the world-renowned festival. The NextFloor Team would be delighted to assist you with lodging and tickets. Please contact them at (+43 699 190 44 090 / contact@next-floor.at).
 
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b-to-v Private Investment Academy (Module 2)
 
The b-to-v Private Investment Academy is a series of events at Schloss Wolfsberg in Ermatingen at the Lake of Constance. The event is fully booked already. If you are interested in upcoming Academies of b-to-v, please contact Nadja Bulgheroni.
 
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b-to-v Investors’ Meeting in Düsseldorf
 
On April 13, 2016, b-to-v Members and selected guests will meet in Düsseldorf for the second b-to-v Investors' Meeting in Düsseldorf. Similar to other b-to-v Investors' Meetings, the event will feature 2-4 live presentations of start-ups which are in the process of raising capital for their business. Moreover, there will be time for networking and discussions amongst participants. For private investors who are not yet familiar with b-to-v, the event is a good opportunity to get to know our organization as well as our members a little better.

Interested b-to-v Members and guests are kindly invited to contact Benita Xheladini for further information.
 
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b-to-v will go to #exechfintech – Join us with a discount code
 
Join the fintech conference that unites Europe’s finance industry.
#execfintech connects selected senior Corporate Executives, successful start-up founders and active investors.
Subscribers can register with a discount of 20% (limited to 20 tickets) by using the discount code (btov-20_execfi).
With a unique concept that is specifically tailored to the needs of executives, it is the biggest application- / invitation-only fintech conference in Europe. The program features more than 40 high-class speakers; sharing insights in high-quality talks and panel discussions.
There will be a pitch competition with EUR 20'000 in cash prizes as well as an exhibition space for 40 selected companies.

If you have any further questions, reach out to Ramin Nikbin.
 
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If you know a strong team of entrepreneurs who would like to receive capital for the dynamic future of their company, please forward this newsletter to them.
 
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