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Newsletter June 2016 | View online version
 
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DEALS DONE       NEWS      JOBS       EVENTS      INVESTOR
 
b-to-v Newsletter June 2016
 
 
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Dear Readers,

Hybris
 
Do you remember that day back in high school when a beautiful girl from your class dropped a pen or something else on the floor near to where you were sitting? And you interpreted that as her way of saying «Why don’t you talk to me? Come on, ask me out!»
And do you remember how you bragged about the incident to your friends later in the break?  You might have recounted: “Guys, did you see that? She dropped the pen on purpose! Just so that I would talk to her!”
And do you remember how awkward it felt when you found out later that day that she had in fact accidentally dropped the pen and that the whole thing was not about you at all
 
I think this was my personal first lesson in hybris.
 
Hybris (also Hubris) “…describes a personality quality of extreme or foolish pride or dangerous over-confidence.” Essentially what happens is that you misinterpret one or many signals in your environment, mostly feedback on what you are doing or have done. Based on other peoples’ positive (or seemingly positive) feedback, you become increasingly self-confident and proud. Logically, your behaviour might change. You become (unwittingly) over-confident, bordering on arrogant. Then gradually, you start to irritate and alienate others around you and eventually you end up harming your reputation or worse.
 
This unfortunate development stems from your initial misinterpretation of signals and feedbacks in the first place. You lose track of who you actually are, and begin to perceive what other people say about you as fact.
 
So what about venture capital and hybris? Hybris is not too uncommon in our little industry. Quite on the contrary, let’s look at the founders of companies: Don’t you have to be slightly over-confident to think that you can disrupt an entire market with your garage-built innovation and a three-man-team?
And how about the investors? In fact, if you look at some VCs’ or M&A wizards’ websites or listen to their statements, you might get the sense that it’s actually they behind all the innovation, the market disruptions, and the mega acquisitions. Whereas in reality, the founders are the driving force behind most of the innovation.
 
But the ecosystem has found a way of dealing with hybris. There’s an invisible system of checks and balances. Founders’ hybris is sanctioned by sudden problems in business or fundraising. And investors’ hybris is sanctioned by problems in the portfolio and fundraising for their own funds.
 
That moment when hybris becomes suddenly apparent is especially interesting. And I think that this happens on a daily basis. I am not inclined to discuss individual examples. Rather, I am interested in the interpretation of certain phenomena. Is venture capital becoming the new investment banking and/or would venture capitalists actually consider investment bankers as role models? What about veterans from major corporations who tell me that their meetings with founders are sometimes very unpleasant, because the founders treat them, the big corporations and their managers, with arrogance and disrespect? And finally, is there a connection to the relatively high valuations that we see in the market these days, e.g. 5mio pre-money for a seed-stage pre-revenue Saas company?
 
Hybris is a multi-faceted creature, interesting to observe in others - - and in yourself. Good news: since I check myself for hybris from time to time, that probably means I’m still relatively safe…
 
Have fun reading this month’s newsletter!
Alexander
 
 
 
 
 
 
 
 
 
 
Deals Done
Check out the latest investments b-to-v has closed.
 
 
 
 
 
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b-to-v participates in G-Therapeutics’ EUR 36mio Series A
 
G-Therapeutics raised EUR 36mio at the end of April 2016 to develop its novel neuro-stimulation therapy for people with spinal cord injuries (SCI). The treatment was researched and developed by Professor Grégroire Courtine and his team over the past 15 years. They have developed a unique, Implantable Neuro-stimulation System (INS) for stimulation of the spinal cord. By delivering electrical impulses to the correct nerves at the right time, the INS assists patients to raise and lower their legs during walking. By combining neuro-stimulation and will-powered training, G-Therapeutics seeks to facilitate the remodeling of residual neural connections and thereby reestablish voluntary control of paralyzed limbs. The team will be refining the treatment and performing a multi-center clinical study to obtain regulatory approval over the next few years. The company has offices in Eindhoven, the Netherlands and in Lausanne, Switzerland; it is a spin-off from the École Polytechnique Fédérale de Lausanne (EPFL).
 
b-to-v was excited to participate in a very reputable consortium which raised EUR 26mio and was co-led by LSP, INKEF Capital, Gimv and Wellington Partners. An additional EUR 10mio was secured in the form of a deferred, risk-bearing “innovation loan” from the Rijksdienst voor Ondernemend Nederland (RvO, part of the Dutch Ministry of Economic Affairs). For a more detailed release on this new portfolio company, please click the button below.
 
 
 
 
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b-to-v portfolio company CoMatch GmbH secures EUR 4.0mio in Funding
 
Just one year after CoMatch launched its online freelance consultant matching service, the b-to-v portfolio company has secured EUR 4.0mio in Financing. Existing investors b-to-v and Atlantic Labs were joined in this fundraising round by Acton Capital Partners. CoMatch seeks to quickly, conveniently and affordably connect consultants and companies requiring their services on one platform. To date, 900 consultants have signed up on the database. While the focus for the time being will remain on the DACH region, CoMatch hopes to become the leading marketplace for consultants in Europe over the next three to five years. For more on this story, please click the button below.
 
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News
Check out the latest news about b-to-v and its portfolio companies.
 
 
 
 
 

 

Scaling a Photonics Start-up
 
PhotonDelta just took some time to speak with Dr. Boudewijn Docter, the Chief Technical Officer of b-to-v portfolio company, Effect Photonics. The interview delves into some of the opportunities and challenges of the “looming” the bandwidth capacity crunch for public data processing. In that context, developing and preparing a startup for scaling in anticipation of this demand requires a unique approach. If you are interested in finding out more, please click the button below.
 
 
 
 
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b-to-v portfolio company Minkabu Inc. acquires wallstreet:online 

 

Tokyo-based b-to-v portfolio company Minkabu just announced that it took over wallstreet:online, which - founded in 1998 - is Germany’s largest finance community. This very recent acquisition perfectly fits Minkabu’s strategy to become the world’s largest operator of social media platforms for financial information. For more information, please click the following link.

 
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Read Fashion United’s interview with CEO Martin Höfeler from Armedangels at the button below.
 
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Jobs
Check out the latest job opportunities that b-to-v and its network have to offer.
 
 
 
 
 
 
b-to-v and b-to-v portfolio companies are looking for some talents:  
b-to-v is looking for an Office Assistant (f/m) in St. Gallen/Switzerland: b-to-v is looking for a full-time Office Manager to be based in our office in St. Gallen. For more information, please see the PDF attached and contact Andrea Rogg with your application.

Testbirds GmbH:

Project Manager (f/m): Our crowdtesters do the testing, you are responsible for making the project a success: How? You are the key contact for clients and our crowdtesters during projects. You are responsible for quality assurance and the evaluation & reporting of the results. If you are interested to become our next ‘Bird’, please apply here.
Account Manager for Sweden (f/m): Testbirds is growing fast. Our next step will be the opening of a new office in Stockholm. Therefore we need you: a passionate sales manager to acquire and develop customers in Sweden. If you are interested to become our next ‘Bird’, please apply here.
Marketing & PR Manager for Sweden (f/m): To make our product popular in Sweden we need you to write inspiring and easy to read texts. By using social media channels you will also try to find new testers for our testing community. If you are interested to become our next ‘Bird’, please apply here.
International Social Media & Community Manager (f/m): You draw a high affinity to Social Media and Gamification? Then become part of our ‘Nest’ and be the contact person for our international tester community and their inquiries. If you are interested to become our next ‘Bird’, please apply here.
Country Manager for Sweden (f/m): You like working hands-on? You are energetic as well as entrepreneurial? And you have work experience in sales with a large network in the Swedish industry? Then you are the right country manager for our new office in Sweden. If you are interested to become our next ‘Bird’, please apply here.
Senior Online Marketing Manager (f/m): SaaS models, SEA campaigns and advertisement strategies are your specialty and on top you are creative and open for new ideas? Let’s start rocking the online world! If you are interested to become our next ‘Bird’, please apply here.

Wine in Black GmbH:

Senior Product Manager for Berlin (f/m): Wine in Black built a successful and established online shop for premium wines in the last years. Anyhow, we’re bold enough to start again and build a new platform with top-notch technology. We’re searching for a foresighted Senior Product Manager who accompanies us on our mission. At the earliest possible starting date, we’re searching for you having passion about wine and technology at our location in Berlin-Mitte. Please send your application to our HR Manager Mandy Howald via email
Senior PHP Developer for Berlin (f/m): Wine in Black built a successful and established online shop in the last years. Anyhow, we’re bold enough to start again and build a new platform with top-notch technology from the scratch. Therefore we are searching for a Senior PHP Developer as a new team member! At the earliest possible starting date, we’re searching for you at our location in Berlin-Mitte. Please send your application to our HR Manager Mandy Howald via email.
UX/UI Designer for Berlin (f/m): Wine in Black built a successful and established online shop in the last years. Anyhow, we’re bold enough to start again and build a new platform with top-notch technology from the scratch. Therefore we are searching for a UX/UI Designer as a new team member! At the earliest possible starting date, we’re searching for you at our location in Berlin-Mitte. Please send your application to our HR Manager Mandy Howald via email.

Beekeeper AG:

Sales Operation Manager/Salesforce Administrator (f/m): As a Sales Operation Manager you will help build and maintain tools and processes to ensure the successful achievement of strategic business goals. You will customize Salesforce and integrate it with other tools to streamline our sales and customer success processes. You will help to surface business metrics and reporting of the entire global sales operation. If you are interested, please apply here.
Software Engineer (f/m): As a Software Engineer you have the opportunity to work on all of our software stack and learn about state-of-the art web and mobile development. Technologies that you will work on are ElasticSearch, Realm.io, RabbitMQ, Backbone.js, Docker, Amazon Web Services, MySQL and interfacing them with different programming languages like Python, Java, Objective-C and Javascript. If you are interested, please apply here.

Pamono GmbH:

Senior Magento Backend Developer (f/m): Pamono is seeking a fulltime Senior Magento Backend Developer to strengthen our Dev Team based in Berlin. Please see full description here and send your application via email.
Graphic / UX designer (f/m): Pamono is seeking a Graphic / UX designer to strengthen our team in Berlin. Please see full description here and send your application via email.
Logistics Intern / Working Student (f/m): Pamono is seeking a Logistics Intern or working student to strengthen our Logistics Team based in Berlin. Please see full description here and send your application via email.

Urbanara GmbH:

Senior Customer Service Manager (f/m) in Berlin: URBANARA is seeking a fulltime Senior Customer Service Manager /m/w) to manage our dynamic and motivated customer service teams (both UK and DE), ensuring excellent service quality. Your positive and communicative persona will inspire your team to reach unprecedented levels of customer satisfaction while meeting KPIs, prioritising tasks, and maximising efficiency. For more information please visit job description.
SEA Manager (f/m) in Berlin: URBANARA is seeking a fulltime SEA Manager (m/f) to take charge of planning, operating and optimising our search-, GDN-, Remarketing and Google-shopping accounts and campaigns in Germany and the UK. For more information please visit job description.
Online Marketing Trainee (f/m) in Berlin: URBANARA is offering a fulltime Traineeship in Online Marketing. As Online Marketing Trainee, you will be introduced to an array of online Online Marketing Channels and will gain insight into topics such as SEM, SEO, Affiliate, Display and PSM. For more information please visit job description.
Operations & Supply Chain Assistant (m/f) in Berlin: URBANARA is seeking for a fulltime energetic and driven Operations & Supply Chain Assistant (m/f) join our Operations and Supply Chain Management team. As an online brand, the Operations department is the logistical link between our thousands of international customers and our online business, responsible for ensuring a smooth supply chain and quick delivery of all orders. For more information please visit job description.
Support in Returns Management and Quality Control (f/m) in Ludwigsfelde: URBANARA is seeking a part-time support for its warehouse in Ludwigsfelde. For more information please visit job description.
Warehouse Employee (f/m) in Ludwigsfelde: URBANARA is seeking a full-time support for its warehouse in Ludwigsfelde. For more information please visit job description.
Tech Lead (PHP Engineering) (f/m) in Berlin: URBANARA is seeking a fulltime Tech Lead (PHP Engineering) to help us build a scalable and fast e-commerce platform based on the best usage of latest technology, processes and methodologies. Enthusiastic about new and innovative ideas, you will motivate and guide your team to develop high-quality, creative solutions. By practicing Agile and Test-Driven Development practices, as well as Functional and Behavioural Testing, your implementation of new, cutting-edge technologies will help drive the brand forward, preparing it for larger and international markets. For more information please visit job description.
UI/UX Designer (f/m) in Berlin: URBANARA is seeking a fulltime UI/UX Designer (m/f) to bridge the gap between efficient technology and streamlined, elegant interface, while taking into consideration the marketing and design requirements of the brand and its creative departments. For more information please visit job description.

BigRep GmbH:

Distribution & Logistics Manager (f/m): As our Distribution & Logistics Manager you will be responsible for supporting our growing international organization in the timely distribution of all BigRep products. In this role you will work in close cooperation with R&D, sales and marketing to provide excellent logistics services to our customer and resellers across the globe. You will also manage our distribution and logistics partners and contracts. Please see full job description.
Key Account Manager EMEA (f/m): Responsible for strategic sales of our 3D Printers, filaments and spare parts. Please see full description here.
Systems Administrator (f/m): BigRep is looking for an experienced Systems Administrator to help manage and expand our internal and external networks and server capability. Please see full description here.

CoMatch GmbH:

Manager Business Development Benelux (f/m): Please find here the full job description. And please apply via email by Dirk Schuran.
Manager Business Development/Sales DACH (f/m): Please find here the full job description. And please apply via email by Dirk Schuran.
Marketing Manager (f/m): Please find here the full job description. And please apply via email by Christoph Hardt.
Senior JavaScript Developer (f/m): Please find here the full job description. And please apply via email by Jan Schächtele.



Jobs in the b-to-v network (neither portfolio company nor at b-to-v):

Experienced Investment Manager (f/m) in Frankfurt: A member of the b-to-v Circle of Investors is looking for an experienced Investment Manager with 3-5 years of relevant work experience for his/her investment portfolio including approximately 20 lead- and co-investments. The tasks mainly include the portfolio controlling and reporting, the assessment and structuring of new investments and the monitoring of the companies until the exit. These activities need to be performed very independently and with a high degree of responsibility. A time commitment of 3-4 days per week is expected. Due to a regular personal exchange with the investor, it is important that the proximity to the Frankfurt area can be ensured. In addition to a fixed salary, a performance-based participation is provided in the form of a carried interest.

Aron Patrick Schenavsky is looking for a new challenge. Please find here his CV.

 
 
 
 
 
 
 
 
 
 
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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15th SECA Private Equity & Corporate Finance Conference in Zurich
 
The 15th SECA Private Equity & Corporate Finance Conference will take place in Zurich, SIX ConventionPoint, Selnaustrasse 30, on Wednesday, July 6th, 2016. More information on the program of the conference can be found here.
 
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b-to-v Investors’ Meeting in Leipzig
 
On September 8, 2016, b-to-v Members and selected guests will meet in Leipzig for the first b-to-v Investors' Meeting in Leipzig. The event will be held in cooperation with the Spinlab, Leipzig's own accelerator jointly supported by Leipzig's Cotton Mill and the HHL Leipzig Graduate School of Management.
See below the program for more details. If you want to attend get in touch with Benita Xheladini.
 
 
 
 
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Investment Academy Liechtenstein
 
The concept of the first Liechtenstein Investment Academy on September, 14-16th 2016 at Hotel KOMMOD AG is based on conversations with private investors interested in start-up investing. The structure reflects the typical questions that investors usually ask (or should ask) when/before investing in a start-up for the first time.
If you are interested in participating, please contact Andrea Rogg.
 
 
 
 
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b-to-v Private Investment Academy (Modul I)
 
The b-to-v Private Investment Academy on 26-28th of September 2016 is the 14th b-to-v Private Investment Academy. It will take place at Schloss Wolfsberg in Ermatingen.
Please note that this is an invitation-only event. If you are interested in participating, please contact Andrea Rogg.
 
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9th Annual b-to-v Portfolio Day
 
The 9th Annual b-to-v Portfolio Day is hosted on September 28th in Berlin at Axel Springer Plug & Play. The event will feature live presentations of up to twelve selected companies from the b-to-v portfolio.
Please note that this is an invitation-only event. If you would like to participate please contact Benita Xheladini.
 
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2. Frankfurter-Allgemeine Forum Disruption
 
b-to-v will be attending and contributing at the Faz-Forum’s Disruption Conference on the 15th and 16th of November in Frankfurt. The digital transformation of business brings with it many advantages and opportunities. Nevertheless numerous companies still struggle to bravely rush into the internet of things world. Now more than ever, the question of how German business should position itself in this phase of the digital transformation remains relevant.
 
b-to-v will be well-represented with Florian Schweitzer and Dr. Jochen Gutbrod participating as speakers on the main stage and in deep dive sessions. We look forward to seeing and catching up with many more of you at the event. Please refer to the attached program for more details and the program.
 
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For Investors
The following Information is for private start-up Investors. 
 
 
 
 
You are looking for flexible shared offices in the center of Zurich? We are renting single or more fully equipped offices and work space for 1-15 people in the center of Zurich. We offer modern and flexible usage and rates and offer the usage of meeting rooms, video conference systems and a very modern environment. You can step in and work, we offer on site support etc. and help you focus on your business. Please contact us via email: Klaus Biermann or by phone: + 41 792246254.
 
 
 
 
 
 
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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