From BAD to Brilliant: How BADideas.fund is Revolutionizing Early-Stage Investing in CEE

Strategy and Vision

‍BADideas.fund is all about leveraging the deep expertise of its backers, who are seasoned entrepreneurs and operators from notable companies like Wise, Veriff, Vimeo, Printify, and Pipedrive. This unique approach ensures that the startups they invest in receive not just financial support, but also invaluable mentorship and strategic guidance.

The fund focuses primarily on tech-enabled startups, with a particular interest in B2B SaaS and marketplace models. They are keen on startups that have already developed a minimum viable product (MVP) and are generating some revenue, typically looking at those in the post-MVP to Series A stages.

Geographic and Industry Focus

‍While BADideas.fund has a global outlook, their heart lies in the Baltics and the broader CEE region. They believe that this area is ripe with untapped potential and innovative ideas that can scale globally. By concentrating on this region, they aim to bridge the gap between local talent and global markets.

Investment Criteria and Process

‍BADideas.fund prides itself on a swift and efficient investment process. They aim to make initial investment decisions within a week, which is a testament to their commitment to agility and responsiveness. Their typical investment ranges from €50,000 to €150,000, but they are also prepared to significantly increase their stake in subsequent funding rounds if the startup shows strong potential.

Innovation in Angel Investing

‍One of the most innovative aspects of BADideas.fund is their model of allowing experienced founders to co-invest in deals. This democratizes the investment process and enables a wider pool of investors to participate, starting from as little as €1,000. This approach not only diversifies the investment base but also brings in a wealth of knowledge and experience from various industries.

Moreover, BADideas.fund's focus on the CEE region highlights their commitment to nurturing local talent and fostering innovation in an underserved market. Their hands-on approach to supporting startups, combined with their strategic use of a vast network of successful entrepreneurs, positions them as a forward-thinking and impactful player in the venture capital landscape.

Historical Development

BADideas.fund is pretty "young" fund, was launched in April 2022 by Raimonds Kulbergs, an entrepreneur with a track record of building and exiting successful startups. The fund’s growth has been nothing short of impressive. Within nine months of its launch, they had already crossed the €1 million investment mark. By mid-2024, they had invested in 11 startups, surpassing their initial goal of 10 investments in the first year.

Their portfolio includes a mix of early-traction startups and more mature companies, with a significant portion based in Latvia and Estonia. This geographic distribution underscores their commitment to the CEE region, while their sector focus highlights their interest in B2B and marketplace models.

BADideas.fund's Not Bad Team

Raimonds Kulbergs is the founder and CEO of BADideas.fund. With a rich background in corporate finance and management consulting, Raimonds transitioned into the startup world, moving to Silicon Valley and setting up operations in Boston. He has worked with prestigious institutions like Oxford and Cambridge and has a successful track record of building and exiting startups, including Funderful. Raimonds has also held advisory roles in various startups and was the Chief Revenue Officer at Salto Network, where he helped connect enterprises with top startup talent in the CEE region. His extensive experience in fundraising, go-to-market strategies, and product development makes him a pivotal figure in BADideas.fund's operations.

Dairis Zarins serves as the Director of Strategic Initiatives at BADideas.fund. He brings a wealth of experience from his background in strategic roles and has been instrumental in shaping the fund's strategic direction. His educational background from the Stockholm School of Economics in Riga and his professional journey reflect a strong foundation in business and strategic planning.

Simona Andrijauskaitė is a member and angel investor at BADideas.fund. She co-founded Interactio, a company that provides remote simultaneous interpretation services, and served as its Chief Business Development Officer for nearly eight years. Her experience in business development, retail, and marketing, combined with her entrepreneurial spirit, adds significant value to the fund. Simona's diverse background in managing and scaling businesses aligns well with BADideas.fund's mission to support early-stage startups.

Artis Kehris is another key member of the BADideas.fund team. With an educational background from the University of Aberdeen, Artis brings a robust academic foundation to his role. His professional journey and connections within the startup ecosystem further strengthen the fund's network and operational capabilities.

Team Culture and Philosophy

BADideas.fund's culture is deeply rooted in collaboration, innovation, and a founder-first philosophy. The team is composed of experienced entrepreneurs and operators who have firsthand experience in building and scaling startups. This collective expertise creates a supportive environment where portfolio companies can thrive. The fund's philosophy emphasizes speed and efficiency in decision-making, reflecting their commitment to agility and responsiveness.

Encouraging Innovation and Success

‍Innovation is at the heart of BADideas.fund's philosophy. They encourage startups to push the boundaries of what is possible and explore new ideas. This is evident in their diverse portfolio, which includes companies working on cutting-edge technologies in AI, fintech, and SaaS. BADideas.fund's support for innovation extends to providing resources for research and development, helping startups stay ahead of the competition.

The fund also celebrates the successes of its portfolio companies, using these achievements to inspire and motivate other startups in their ecosystem. Success stories like that of Supliful, a platform for launching and operating scalable consumer packaged goods (CPG) brands, serve as powerful examples of what can be achieved with the right support and guidance.

Network and Post-Investment Collaboration

The fund's network is one of its most distinguishing features. BADideas.fund is backed by over 150 founders and operators from successful companies like Bolt, Vimeo, Printify, and Pipedrive. This extensive network provides startups with access to a wealth of knowledge, mentorship, and strategic connections. The collaborative nature of the fund ensures that startups receive comprehensive support, from product development to market expansion.

In conclusion, BADideas.fund's team, culture, and network create a robust ecosystem for early-stage startups. Their founder-first philosophy, combined with a collaborative and innovative approach, distinguishes them from other funds and underscores their mission to drive growth and innovation in the CEE startup ecosystem.

The collaborative nature of BADideas.fund's ecosystem is particularly beneficial for early-stage startups. It provides them with access to a community of like-minded entrepreneurs who can offer advice, share resources, and provide moral support. This sense of community is a key factor in the fund's success in nurturing startups.

Good Investments from BADideas

BADideas.fund has built an impressive portfolio of startups that are making significant strides in very wide list of industries. Let's explore some of the most notable companies they have invested in, highlighting their achievements, potential impact, and the crucial role BADideas.fund has played in their development.

‍Respeecher is a groundbreaking AI company based in Kyiv, Ukraine, specializing in voice cloning technology. Their software can create high-quality synthetic voices that are nearly indistinguishable from the real thing. This technology has vast applications in entertainment, gaming, and accessibility. Respeecher's ability to clone voices has already been used in major Hollywood productions, showcasing its potential to revolutionize the industry.

‍Supliful is a platform that enables entrepreneurs to launch and operate scalable consumer packaged goods (CPG) brands. By simplifying the process of creating and managing CPG brands, Supliful is democratizing the industry and empowering a new generation of entrepreneurs.

‍Miros is an AI-driven visual search tool that enhances the online shopping experience by allowing users to search for products using images. This technology has the potential to transform e-commerce by making it easier for consumers to find exactly what they are looking for.

‍Salesforge is a B2B SaaS platform that automates sales processes, helping companies increase their efficiency and close more deals. With its advanced AI capabilities, Salesforge is changing the game for sales teams by providing actionable insights and automating repetitive tasks.

‍RoomPriceGenie is a software solution that helps hotels optimize their pricing strategies using AI. By providing real-time pricing recommendations, RoomPriceGenie enables hotels to maximize their revenue and improve occupancy rates.

‍Finfra is an embedded systems fintech company that provides innovative financial solutions for businesses. Their technology enables seamless integration of financial services into existing platforms, enhancing the user experience and driving growth.

‍Leya AI is an edtech startup that offers AI-powered language learning solutions. Their mobile app provides personalized learning experiences, making language acquisition more effective and engaging.

‍Breezit is a customer service marketplace for private events. It connects businesses with freelance customer service professionals. By providing a platform for businesses to find and hire top talent, Breezit is transforming the customer service industry.

BADideas Giving Good Impact

Investments from BADideas aren't just money transfer; they are a catalyst for transformative growth and innovation. Their strategic guidance and financial support have been pivotal in helping numerous startups scale operations, enhance product offerings, and secure key partnerships. Fund's comprehensive support system are driving innovation and growth in the AI, IT, and tech sectors, positioning their portfolio companies to make a significant impact on the global market.

BADideas giving good impact on their portfolio companies through a multifaceted approach to post-investment support. Their hands-on mentorship program connects startups with experienced founders and operators from successful companies from all over the world, providing invaluable guidance on product development, market expansion, and operational challenges. The fund's extensive network opens doors to potential partners, customers, and future investors, accelerating growth opportunities for portfolio companies. BADideas.fund's commitment to rapid decision-making and efficient processes allows startups to focus on building their businesses rather than getting bogged down in lengthy fundraising cycles. Additionally, the fund's collaborative ecosystem fosters knowledge sharing and peer support among all companies, creating a community for founders to learn from each other's experiences. By leveraging their collective expertise and resources, BADideas.fund empowers startups to navigate challenges, refine their strategies, and ultimately achieve their full potential in the competitive tech landscape.

Evolution and Trends

BADideas.fund has established itself as a transformative force in the Central and Eastern European (CEE) startup ecosystem. Their unique approach, combining financial investment with hands-on mentorship, has enabled numerous startups to scale rapidly and achieve significant market traction. The fund's influence extends beyond capital; their extensive network of successful founders and operators provides invaluable support and opens doors to new opportunities. Through active participation in regional events and fostering a collaborative ecosystem, BADideas.fund has become a cornerstone of the CEE startup community.

And company continues to evolve and expand, constantly exploring new ways to connect investors with startups. They are developing online learning resources and partnering with regional events like TechChill to further support the CEE startup ecosystem. Their vision is to create a vibrant community of founders and investors who can collaborate, share knowledge, and drive innovation in the region.

As trends in AI, deep tech, and fintech continue to shape the future, BADideas.fund is well-positioned to drive innovation and growth. Their ability to adapt to market conditions, focus on emerging technologies, and support founders through challenging times underscores their commitment to nurturing the next generation of tech leaders. Looking ahead, BADideas.fund's strategic investments and comprehensive support system are set to continue making a significant impact, not only in the CEE region but on the global stage, as they help startups navigate the complexities of growth and scale to new heights.

In summary, BADideas.fund is not just a source of capital; it is a world-class catalyst for growth and innovation in startup ecosystem. Their unique approach, combining financial investment with strategic support from experienced founders, sets them apart as a forward-thinking and impactful player in the venture capital landscape.