“Out of almost 50 people I talked with during my first visit here, I expect about 5 to 10 to have an interview with us,” Robert Neivert, partner with 500 Startups told ZF.
Out of the 5 to 10, the fund will choose 1 or 2 startups to invest in. If they turn out to be successful, the fund will return every six months and make 2 or 3 investments a year, so it will probably become the most active seed investor in Romania, Neivert added.
500 Startups usually provides $150,000 to $300,000 funding to a startup in exchange for a stake in the business of 5%.
The most active investor in local technology startups at the moment is 3TS Catalyst Romania, which invested EUR10 million in ten businesses.
(English version by Loredana Fratila-Cristescu)