STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 ›...
Transcript of STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 ›...
![Page 1: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/1.jpg)
STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM
EVGENY ANGELOV | BVCA CHAIRMAN
![Page 2: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/2.jpg)
2
96% internet users with speed higher than 4 mbps
#1 business process outsourcingdestination in Europe and #3 in the world
#3 in the world for certified it professionals per capita
growing exports of ICT services 4x& electrical machinery 5x since 2008
8 out of 10 cars produced in Europe with components from Bulgaria
R&D
Investment highlights
![Page 3: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/3.jpg)
3
Corporate knowledge-intensive investments
Coca-Cola opened its second largest IT development center in Sofia. Coca-Cola Tech Innovation Lab is focused on artificial intelligence, cyber security and data analysis
Siemens to open an engineering hub to develop and implement manufacturing and automation systems, software and solutions for industrial robots
FT Core, which supports all the platforms of the group, analyses data and trends, to move its entire technology office in Bulgaria
2nd largest R&D center is located in Bulgaria with primary focus on payment infrastructure
More than 700 engineers, of which half are programmers, are developing automotive electronics and software for Mercedes- Benz in Visteon’s facility in Sofia
![Page 4: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/4.jpg)
4
The innovation ecosystem is thriving
![Page 5: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/5.jpg)
5
VC activity
SOFIA IS AMONG THE 10 TOP CITIES AROUND
THE WORLD TO LAUNCH YOUR STARTUP
![Page 6: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/6.jpg)
6
a regional success story
>350Mpublic revolving
funding
x2.6private funding
multiplier
>875Mtotal financing
mobilised
>10,000 SMEs
financed
>25,550 jobs
supported
219 start-ups& growth stage companies
funded
SME funding for innovation and growth over 5 years…
![Page 7: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/7.jpg)
7
pre-seed seed venture growth€
1M
+5
01
-1M
101-500K
25
-10
0K
1
2
3
4
5
Bulgarian-based equity funds
![Page 8: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/8.jpg)
8
Investment activity by stage (publicly funded funds)
€ invested and # of companies funded # of companies by stage
9%
20
73
138
200210 215 219
0
50
100
150
200
250
0
10
20
30
40
50
60
70
80
90
2012 2013 2014 2015 2016 2017 2018
€ Milli
on
Seed Startup Expansion # of Companies
20%
# of companies by stage
Seed
Startup
Expansion
71%
9%
![Page 9: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/9.jpg)
9
> 6000applicationsfor funding
≈100entrepreneurial
conferences & workshops
1/3of start-ups set upby non-Bulgarians
Majority of funded companies by sectors Follow-on investors from top tier firms
Since 2012…
ICT
Digital
Engineering
Med-tech
![Page 10: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/10.jpg)
10
Noteworthy exits
The US based Progress Software acquired Telerik, a leading provider of application development tools $262M
PROS Holdings Inc. acquired Vayant which develops SaaS platform for airfare search needs$35M
The global private equity firm Riverside Company together with Charles Taylor Insuretech acquired Fadata, an innovative insurance and IT solutions company
$22M
Francisco Partners, a global tech-focused PE firm, acquired a majority stake in Dynamo software, a developer of cloud CRM systems for investment management & investment portfolios
$50M
![Page 11: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/11.jpg)
11
Equity capital for innovation and growth –3x over the next 24 months
€130-150M EIF backed funds
> €110MFoF backed funds
> €90MPrivate fundraising
Local investment industry future development
2018 2020
5 x Seed 2 x Venture Capital 1 x Mezzanine 1 x Tech Transfer
![Page 12: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/12.jpg)
12
Focal point of private investors, venture capital funds and the entrepreneurial community in Bulgaria
Popularise the role of private investment as a reliable and sustainable source of funding
Ensure sound public policy that encourages a favourable investment environment
Engage the Bulgarian diaspora
BVCA at a glance
![Page 13: STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM › wp-content › uploads › 2018 › 12 › 20181203-BVCA-P… · STATE OF THE BULGARIAN INVESTMENT ECOSYSTEM EVGENY ANGELOV | BVCA](https://reader033.fdocuments.net/reader033/viewer/2022060500/5f1a989ce043c1041f70a005/html5/thumbnails/13.jpg)
Stay connected
www.bvca.bg
BOYANOV & Co.ATTORNEYS AT LAW
members partners