Many believe that technology companies across the world have great potential to drive future business transformation and long-term value. And Flashpoint Venture Capital is one among them.
Against all odds, the year 2020 has been a record year of investments in the tech space. According to a report by Atomico, European VC is standing on its own feet, continuing its outperformance versus other key indices, and reducing its dependence on government agency funding.
Now another leading international technology investment firm with its roots from Budapest, that specifically backs companies founded by management teams in Central and Eastern Europe, Israel, the Baltics, Finland and the CIS, has now announced the 1st close of its third VC fund targeting $100 million (£75 million approximately).
The talk is about Flashpoint Ventures Capital which has offices in Budapest, London, Riga, Tel Aviv, and Warsaw. It has now been rebranded as an international technology investment firm that manages equity and debt funds with $350 million (approx £260 million) Assets under Management.
First close of third VC fund
Recently, the VC firm announced the first close of a third VC fund targeting $75-100 million (approx £56-75 million). Launched in 2012 by co-founders and General Partners Alexander Konoplyasty and Michael Szalontay, Flashpoint Venture Capital invests in software companies focused on B2B/B2C SaaS solutions providing venture capital at Series A stage, venture debt at series B/C stage, and growth stage secondary capital. The VC firm has supported companies like Guesty, Dostavista, ivi, ChiliPiper and AllRight in their recent rounds.
To date, the company has made investments in 26 tech businesses with 66 follow-ons and exited eight companies – most notably Shazam to Apple and chess.com to PokerStars founder Mark Scheinberg in 2018.
The team takes an extra data-driven approach to investment sourcing, selection, and analysis, which is driven by proprietary developed technology and AI.
70 investors on board
The Flashpoint platform comprising venture capital, venture debt, and secondary products today has over 70 investors, made up of large family offices, High Net Worth individuals, and institutions.
A large number of existing investors in Venture Capital Funds I & II, as well as Venture Debt Fund I, have also invested in Fund III.