🎙️ Get ready for an insightful dive into the world of venture capital and angel investing with today's guest, Paweł Maj. With over 20 years of experience as a Polish Business Angel and VC investor, Paweł brings a wealth of knowledge from his tenure at renowned funds like Skyline Ventures, bValue, and Warsaw Equity Group. As a board member of over 30 startups and companies, Paweł is a prominent figure in the Polish VC ecosystem, renowned for his thought-provoking articles and data-driven insights shared on platforms like LinkedIn and Medium.

Discover:

• The divergent approaches to evaluating startups as a VC fund versus a Business Angel.
• The metrics that founders of B2B SaaS startups should always have in the back of their heads
• The evolving investor mindset towards sustainable growth and its implications for startup strategies.
• The reason why investors are not willing to share negative feedback on team due diligence with the founders.
• Critical factors founders must consider regarding their cap table to maintain attractiveness to investors.
• Paweł's candid reflections on why he did not invest in LiveChat and the dual-edged sword of public LP funding for fund managers.

Links to the articles that were discussed during the interview:

• https://medium.com/@pawel_maj/100-uzasadnie%C5%84-vcs-dlaczego-nie-zainwestuj%C4%85-fd823912020d
• https://medium.com/@pawel_maj/an-uninvestable-startup-46feb1f8f8a8
• https://medium.com/@pawel_maj/300-questions-every-vc-will-ask-a-startup-7aecab846fbc

Paweł's book recommendations:

• Scott Kupor - Secrets of Sand Hill Road: Venture Capital and How to Get It
• Szymon Janiak - Start-up i Venture Capital

During our conversation, Paweł offers a vivid analogy for the dynamic between VC funds and startups, likening it to "a relationship with a divorce at the end". I believe this is the best description of this connection I have heard in a long time.

Without further ado, let's dive into today's engaging conversation filled with invaluable insights for both investors and entrepreneurs alike! 🚀

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