Flashpoint expands its Venture Scout program to expand into Europe and the United States
Flashpoint, a London-based investment firm that manages venture capital, secondary growth and venture debt funds, has extended its Venture Scouting program, which it launched last year.
The VC is now expanding its network in Europe and the United States by partnering with top-notch angel investors, lawyers, tech executives and entrepreneurs who can monetize their network and attract deal flow by showcasing the group to the best early-stage startups. the market. It has the capacity to make more than 20 investments per year, which provides an opportunity for prospectors.
Founded by Alexander Konoplyasty and Michael Szalontay in 2012, the company will seek to recruit at least two Scouts from each major market (Central and Eastern European countries, Israel and Finland) as well as partner with Scouts from Western Europe and the United States that can help source CEE founders starting their business outside of their home market. It will focus on software companies in the gaming, hardware, cybersecurity, biotechnology and life sciences sectors.
It launched the Venture Scout program in 2021. Scouts are shortlisted and integrated into the Flashpoint technology stack and investment strategy in the closed program. Scouts can leverage their network and help the Flashpoint team connect with selected companies and facilitate the investment transaction. Currently, more than 20 Scouts from Central and Eastern Europe, Israel and Western Europe have joined the program.
In 2021 alone, the firm’s funds invested in 23 new companies and made 11 follow-on investments in existing portfolio companies for a total of $93 million. The funds have invested in more than 50 companies, including names such as Guesty, Chili Piper and Borzo (Dostavista). Flashpoint completed ten exits, including the sale of its stakes in Shazam (to Apple) and Chess.com (to the founders of PokerStars and General Atlantic).