{ Investitsiya strategiyasi }
We focus on very early stage VC funds with a discernible edge, enabling GPs to secure outsized ownership in companies led by amazing founders
Our portfolio fund GPs have unique networks and domain expertise that provide access to remarkable founders, which collectively empowers our unique Cendana ecosystem
{ Who we work with }
We have remained disciplined on our investment approach
{ Filtr 1 }
Rivojlanayotgan mamlakatlar bo‘yicha investitsion tezis
Biz rivojlanayotgan bozorlar bo‘yicha chuqur tajribaga ega va global tarmoqlarda ahamiyatli aloqalarga ega bo‘lgan tajribali boshqaruvchi hamkorlarni (GP) izlayapmiz, ular ikkala ekotizimda ham samarali faoliyat yurita olishi lozim.
Biz uchun ideal hamkorlar – yuqori o‘sish sur’atiga ega rivojlanayotgan mamlakatlar bozorlarida muvaffaqiyatga erishgan, kompaniyalarni barqaror foydalilikka olib chiqish qobiliyatiga ega va ekotizimdagi bo‘shliqlarni tadbirkorlar hamda institutsional o‘yinchilar o‘rtasida bog‘lay oladigan tajribali boshqaruvchilardir.
Shunchaki investitsiya kiritishdan tashqari, biz strategik hukumat aloqalarini yo‘lga qo‘yadigan, turli kapital manbalarini jalb qiladigan va xalqaro bozorlarga chiqish yo‘llarini yaratadigan ekotizim me’morlarini izlayapmiz.
Muvaffaqiyat formulasi – mahalliy obro‘-e’tiborni global exit salohiyati bilan uyg‘unlashtirishdan iborat. Bizning GPlar aniq iqtisodiy ta’sir ko‘rsatish barobarida yuqori daromad keltira olishlarini isbotlashlari kerak. Shuningdek, majburiyat ham muhim – biz GPlardan 1:1 nisbatda o‘z kapitalini investitsiya qilishini kutamiz, shunda biz birgalikda haqiqatan ham transformatsion o‘zgarishlarni yaratamiz.
{ Filtr 2 }
Raqobat ustunligi
Tajriba va obro‘ muhim, lekin biz o‘ziga xos fazilatga ega bo‘lgan GPlarga sarmoya kiritamiz. Ular o‘zlari ham asoschilar – eng iste’dodli texnologiya tadbirkorlari uchun yo‘lboshchi bo‘ladigan venchur kapital firmalarini barpo etmoqdalar.
Biz uchun GPlarning asosiy missiyasi muhim – faqat navbatdagi fond emas, balki texnologiyalar kelajagini shakllantiruvchi barqaror institut yaratish bo‘yicha ularning uzoq muddatli qarashlari.
Startap asoschilari kabi, eng yaxshi yangi GPlar noldan boshlab qurmoqdalar – biz esa haqiqiy quruvchi DNKsiga ega bo‘lganlarni qo‘llab-quvvatlaymiz. Ammo eng muhimi: biz faqat muvaffaqiyatli investorlarni emas, balki chinakam yaxshi insonlarni izlaymiz.
Hozirgi shiddatli raqobat muhitida biz asoschilar o‘z yonida ko‘rishni istaydigan GPlarga sarmoya kiritamiz – ular kechasi kech soatlarda ham og‘ir vaziyatda qo‘ng‘iroqqa javob beradigan va tadbirkorlik yo‘lini chin dildan tushunadigan insonlardir, chunki o‘zlari ham shu yo‘ldan o‘tgan.
{ Filtr 3 }
Portfolio Construction
We believe that fund size determines investment approach so we work closely with our portfolio funds on optimizing the portfolios they are building.
Assuming access to amazing founders, we believe ownership is paramount for fund managers, and enables portfolio funds to generate significant returns without outlier exits.
While recognizing that smaller funds may not be able to lead or co-lead, we focus on the GPs that can invest relatively large initial checks given their fund size.
Our analysis of existing portfolio funds show that Seed VC managers should seek at minimum 10% of their fund size as their target initial ownership; for Pre-Seed managers, it is a minimum of 20% of their fund size.
{ Filtr 4 }
Networks and Ecosystems
Access to amazing founders stems from the unique networks each GP brings to the table. We view our own portfolios holistically, ensuring that we cover important networks as well as new ones.
Through our diligence process, we seek to understand the breadth and depth of the relationships that a GP has and their domain expertise. We focus on the credibility of the GP to write these initial checks; we talk to founders, co-investors and later stage VC GPs to validate this credibility.
We consider the ecosystems of the fund manager, which include:
1) availability of high quality founders and teams;
2) the presence of high quality co-investors; and
3) the availability of local follow-on capital.
Networks and access evolve; first time funds generally rely on existing networks, while subsequent funds have to expand and evolve their initial networks through market reputation, founder awareness and a self-reinforcing cycle of succcess.
