Team, Market, and Traction: How Investors Choose Startups for Investment

Meirzhan Yessimkhanov, Operating Director at Activat VC, Linkedin

It all depends on the startup's stage of development. We focus on early stages, so we pay special attention to the team, the Product Map, and the size of the market where the projects will be presented. It is also important to assess how technological their solution is.

Ruslan Rakymbay, Investment Director at Quest Ventures, Linkedin

Like any other institutional investor, we always look at the product and the project.

We invest at early stages, before Series A. At such stages, it is necessary to look at the team and founders. Even if the product is unique, someone still needs to build or develop it. And that will be the team. We assess whether they have expertise in the field they are working in, whether they have worked on similar projects before, and whether they have experience developing other products.

We pay special attention to the motivation and commitment of employees for the next three to five years, because this period often becomes the "Valley of Death" for beginning entrepreneurs. It is important that the founders do not burn out during this time and can continue to develop the product.

Georgy Simongulashvili, Angel Investor, Linkedin

As an angel investor, I primarily assess the market size and its growth rate. It is also important how developed this market is at the regional level and how quickly it can be captured. The startup team is no less important.

Anuar Lenzat, Investor Relations Manager at Activat VC, Linkedin

Usually, we look at the market size, team competence, and validation of the business model. Personally, founder discipline is important to me. For example, if he promised to send materials by a certain time and did not do so, I would seriously reconsider whether to continue the dialogue.

It is also important to me whether the team is generating revenue. I want the startup to cover its own needs independently and attract investments for scaling.

Dimash Kass, Associate at Big Sky Capital, Linkedin

In our fund, we pay attention to the team, its expertise, background, and traction—achievements it has managed to accomplish in a short period.

Abai Absamet, Investor, CEO of BGlobal Ventures, Linkedin

If it is an early stage, more emphasis is placed on the team, its expertise, involvement, and commitment to the startup, previous achievements of the founders, and their reputation. It is important to understand what problem the startup is solving, how significant it is from the market's perspective, how close the startup's product is to solving it, and whether users are willing to pay for this product.

We also assess the project's progress over a certain period of existence. Usually, we look at monthly recurring revenue (MRR), user growth, and so on. In addition, there are such factors as the underlying technology, competition, and other aspects.