1. George Tziralis – June 13, 2014
facts and figures

2. Whereabouts
• Jeremie Openfund II, set up in Dec 12
• initially €10m, now €11.7m
• EIF & 12 private investors

3. Strategy
• pre-seed, €50-150k
‣ build a product and some traction
• seed, €300-500k
‣ from validation to growth

4. Applications
• ~800 in total so far
• 12 investments made
• 1.5% acceptance rate

5. Maturity
• 5/12 with a prototype
• 4/12 with traction
• 2/12 with revenues
• 7/12 had none!

6. Portfolio

7. Everything software
marketplaces, saas, mobile, consumer,
enterprise, travel, recruitment,
recommendations, storage, gaming,
security, reservations, music, wearables,
retail, coupons, infrastructure…

8. Stage
• 10 pre-seed / 6 seed (incl. followups)
• avg pre-seed: €106k*
• avg seed: €302k*
* fund's participation

9. Founding teams
• 4 of a single founder
• 5 of two founders
• 3 of three founders
• recommended: two founders

10. Co-investors
• 23 co-investors in portfolio companies
• 20 angels, 3 funds
• 13 GR based

11. Employees
• 82 employees across the portfolio
• building special products
• accumulating unique experience
• having an impact on the world

12. Creating value for
• hundreds of enterprises
• thousands of clients
• millions of users

13. Mission
Complement founders with whatever
they require to turn:
• ideas into products,
• products into businesses &
• businesses into successful companies

14. Takeaways
• The world is flat; you can go a really
long way
• Ecosystem matures in all fronts; yet it
takes time
• Work hard and enjoy the ride

15. gt@theopenfund.com
Thank you
flickr credits: modern_nomad, olibac, kitsu, shedboy, mountainbread,
txmx-2, andrew_ashton, eschipul, nasamarshall, klearchos