The face of Vito One is Daria Saharova, who was named "Investor of the Year" at the German Startup Awards in 2020. We spoke with her about the VC fund.
Munich Startup: Please introduce yourselves briefly!
Daria Saharova: With pleasure! Vito One is the first European venture capital fund focusing on proptech, energytech, and constructiontech—startups in the construction and real estate sectors. What makes us special is that our extensive, relevant network—including in the construction and real estate sectors—allows us to help startups with access to knowledge, customers, talent, and additional capital.
Focus on startups from the construction and real estate sectors
Munich Startup: What do you prefer to invest in?
Daria Saharova: Since 2015, we have been investing from Munich in early-stage (seed funding) B2B and B2C startups that have the potential to become the next "big players." We currently have 19 companies in our portfolio, for example: Building Radar, an AI-powered search engine for construction projects, and the IoT startup Gridx — both from Munich, by the way!
Vito One: Active, but never in the 'driver's seat'
Munich Startup: Do personal preferences sometimes influence your investments?
Daria Saharova: We invest hypothesis-driven. Our goal is to find companies that have the potential to generate a high return on investment. The decision is based on standard VC criteria rather than personal preferences. Of course, as an investor, you should bring a fundamental enthusiasm for the topic and curiosity.
Munich Startup: Do startups have to be afraid that you will interfere too much?
Daria Saharova: No, you definitely don't have to be afraid! We invest in early-stage companies and see ourselves as sparring partners. We actively support our portfolio startups, for example, on the advisory board, but we're never in the driver's seat ourselves. The best investments are those where I have to do the least.
Munich Startup: How long does it take from the first contact to the conclusion of the contract?
Daria Saharova: It varies, but the process usually takes between three and six months. It also depends on how well the startup is prepared for due diligence, the quality of the documentation, and how the negotiations go.
The seed phase is characterized by a high degree of uncertainty, so the founding team naturally plays a key role. In addition to numerous face-to-face meetings, reference calls are particularly important and time-consuming for us. These involve speaking with industry experts, former colleagues, or investor friends, for example, to gain a clear understanding of the team, market, and product.
“The momentum in the market has to be right”
Munich Startup: To be successful, a startup must…
Daria Saharova: ...solve a real and big problem at the right time! This sounds trivial, but founders often get bogged down because they love their product or technology so much that they forget about the customer. Market momentum also has to be right.
Munich Startup: Tell us the knockout criteria for the pitch!
Daria Saharova: Absolutely clear: the team has to be prepared! Of course, it's an exam situation, and you can't have all the questions ready. But as an investor, you can quickly tell whether the team has prepared and is taking the conversation seriously.
The trend: Sustainable Tech
Munich Startup: The trend of the year is…
Daria Saharova: ...Sustainable Tech. At Vito One, we invest in the industries that are among the biggest CO2 polluters. I sincerely hope that, despite the coronavirus crisis, we don't neglect the biggest crisis—the climate crisis.
Munich Startup: What is the Munich startup scene doing right from an investors' perspective? What could it do better?
In my opinion, Munich's startup scene is incredibly strong and historically significant! Especially when it comes to tech startups, I find all the components for a significant ecosystem here, something that is rare in Europe. What we could do better is to network even more. That's also one of the reasons why I was the first to 1E9 think tank co-founded to make a contribution to this.
The Munich startup scene should network even more closely
Munich Startup: Last but not least: Who do startups approach when they want to talk to you?
Daria Saharova: Feel free to contact me directly, dear startups! For a preliminary background check, I recommend following me on Instagram. Or just write to me via Email!
