Flashpoint, a London-based investment business that manages venture capital, growth secondary, and venture debt funds, has expanded its Venture Scouting program, which began last year.
The VC is extending its network in Europe and the United States by collaborating with angel investors, attorneys, tech executives, and top entrepreneurs who can monetize their network and draw deal flow by exposing the group to the market’s most promising early-stage ventures.
It can make over 20 investments every year, giving venture capitalists scouts a chance to present ideas.
A focus on software companies
The company, which was founded in 2012 by Alexander Konoplyasty and Michael Szalontay, plans to hire at least two scouts in each of its core markets (CEE countries, Israel, and Finland) and partner with scouts from Western Europe and the United States to help find CEE founders starting businesses outside of their domestic markets.
It will concentrate on software companies in the gaming, hardware, cybersecurity, biotech, and life science sectors. In 2021, it created the Venture Scout Program. In the closed program, scouts are evaluated and added to the Flashpoint technology stack and investment approach.
Scouts can use their connections to assist the Flashpoint team in reaching potential investors and facilitating investment deals. Presently, the program has more than 20 Scouts from CEE, Israel, and Western Europe.
For a total of $93 million in 2021, the company’s funds invested in 23 new firms and completed 11 follow-on investments into existing companies. More than 50 firms have received investments from the funds, including Chili Piper, Borzo (Dostavista), and Guesty.
In addition to that, Flashpoint has made ten exits, including selling its stake in Shazam to Apple and Chess.com to Pokerstars founders and General Atlantic.