Flashpoint, a London-based venture capital firm, is expanding its Venture Scouting Program to the United States and Europe to help it find early start-ups in which to invest.
Flashpoint said it will partner with angel investors, lawyers, technology executives and entrepreneurs. They will be able to “finance” their connections by facilitating an introduction between Flashpoint and potential companies.
Flashpoint launched the program in 2021, which operates three portals where scouts can see if Flashpoint is in touch with a firm. Scouts then use their network to help Flashpoint connect with businesses and help with the investment operation.
Its expansion plans include two scouts in Central and Eastern Europe, Israel and Finland. Flashpoint will also partner with Western European and US scouts to help find Central and Eastern European founders starting a business outside their domestic markets.
Alexander Konoplyasty and Michael Szalontay founded Flashpoint in 2012 to invest in software companies from Eastern Europe and Israel. The VC firm focuses on B2B SaaS and B2C. It has offices in London, Budapest, Warsaw, Riga and Tel Aviv.
The VC firm said on Monday that it has closed its Moscow office in view of the Russian invasion of Ukraine and that its operations and staff have relocated to Poland and Cyprus.
The Flashpoint has the facility to invest in more than 20 businesses per year. In 2021 it invested in 23 new companies and made 11 follow-on investments in its portfolio, amounting to $ 93m.
VC Flash Point London extends the scallop network to the US and Europe
Source link VC Flash Point London extends the scallop network to the US and Europe