How to find an investor. Günce Önür on the investment strategy of Startup Wise Guys

About me

I am a General Partner at Startup Wise Guys, one of the leading early-stage VC funds in Eastern Europe with more than 450 portfolio companies. I have been part of the investment team since 2019 and have invested in 155 startups as a GP across Eastern Europe, Türkiye, and Central Asia.

Before venture capital, I worked at Keiretsu Forum and StartersHub, supporting early-stage founders and managing startup portfolios. My background is actually in engineering and R&D, but I found my real passion in helping startups grow and connecting emerging ecosystems through venture capital.

For me, being an investor is really about three key things: understanding people, understanding markets, and adding value beyond capital.

The most important qualities are curiosity, discipline, and empathy. You need curiosity to explore new ideas and industries, discipline to make data-driven decisions in uncertain environments, and empathy to truly understand founders,  their motivations, challenges, and potential.

Good investors do not just pick startups, they partner with founders and help them grow.

About investments

One of the biggest challenges in startup investing is limited data, early-stage founders often operate with assumptions rather than historical metrics. You have to make decisions based on people and potential, not spreadsheets.

Another challenge is timing and focus, knowing when a market is ready and whether the team can scale at the right moment. Emerging markets add another layer of complexity because ecosystems are still developing and follow-on capital can be limited.

I try to overcome these by staying close to founders, testing assumptions early, and building strong local networks to support startups beyond the first check. For me, due diligence does not end at investment, it continues through constant communication and mentorship.

I have been investing in startups since 2019 as part of Startup Wise Guys, and during this time I have been directly involved in over 130 investments across Eastern Europe, Türkiye, and Central Asia. Our portfolio now includes more than 450 companies, covering sectors like B2B SaaS, FinTech, Sustainability, and AI.

We have had over 25 successful exits, including startups that have grown from small local players into international scale-ups. For me, the most rewarding part is seeing founders we backed early build global teams, attract top investors, and become role models in their ecosystems. 

Some investment examples from the region include E-Point from Azerbaijan, Unitlab from Uzbekistan and Platma from Kazakhstan. 

When evaluating startups, I focus on three main pillars: team, market, and traction.

1. I look at the founding team, their chemistry, resilience, and clarity of vision. Early-stage investing is mostly about people, so I want to see founders who are adaptable and deeply committed to solving a real problem.
2. I analyze the market opportunity, the size, timing, and scalability potential. Even great teams struggle in small or slow-moving markets. I look for markets that are either growing fast or being disrupted by new technology or regulation.
3. I check traction and metrics, not just revenue but also user engagement, retention, or early client feedback,  anything that shows proof of execution.

In terms of risk, I assess it through diversification, staged investment, and close founder relationships. You cannot eliminate risk in venture capital, but you can reduce it by staying close to your portfolio, helping founders navigate challenges early, and backing those who learn fast.

Startup Wise Guys is based in Estonia, but we have always been a global fund. We have already invested in startups from over 60 countries, spanning Europe, Central Asia, the Middle East, and Africa.

Personally, I love exploring new ecosystems, especially emerging markets,  because they bring fresh perspectives and often very resilient founders. For us, geography is secondary. We focus on strong teams, scalable business models, and global ambition.

Beyond funding, I see my role as a hands-on partner to founders. I help startups with fundraising strategy, investor relations, and market expansion, especially when they are entering new regions.

Because of my background running acceleration and VC academy programs, I also support founders on business modeling, metrics, and investor readiness, making sure they can present themselves professionally to global VCs.

And finally, I connect them with my network of mentors, investors, and corporate partners across Europe, Türkiye, and Central Asia. Many of our portfolio companies have grown faster because of those introductions, not just the capital.

We typically invest €100 000 to €300 000 at the Pre-Seed or seed stage through Startup Wise Guys. The exact amount depends on the startup’s maturity, traction, and funding needs.

Our goal is to give founders enough capital to reach the next major milestone, usually a proof of market fit or the next fundraising round. We determine the investment volume by analyzing their burn rate, revenue targets, and runway to ensure they can achieve meaningful growth without unnecessary dilution.

In terms of duration, we usually stay involved for the first 12-18 months very closely, offering both capital and acceleration support before they raise a larger round.

We typically hold our investments for around five to seven years, depending on the startup’s growth and the maturity of the market.

Our goal is to help founders reach the next major growth stage or exit event, whether that’s a Series A, acquisition, or secondary sale. The timeline really depends on the sector and geography, startups in emerging markets often take a bit longer to scale, so we stay flexible and continue supporting them until the right exit opportunity arises.

Investor’s advice

My main advice to founders is to treat fundraising as a process, not an event. You need to be investment-ready long before you start pitching. That means having a clear story, solid financials and metrics, and a well-structured data room. Investors want to see that you know your numbers, your customers, and your long-term vision.

When it comes to finding investors, start with your network and ecosystem, accelerators, mentor programs, angel networks, or VC communities in your region. Be strategic: target investors who already understand your industry and stage, not just anyone with capital.

And finally, build relationships early, months before you actually need funding. The best investment conversations happen when there is already trust and familiarity between founders and investors.

Plans

Right now, I am especially interested in early-stage B2B SaaS, FinTech, and Sustainability startups, particularly those using AI and automation to solve real operational challenges.

I also love meeting founders from emerging markets who are building globally scalable products. We have already invested in startups from more than 60 countries, and I believe the next wave of innovation will come from regions outside traditional tech hubs.

I look for founders who are not just chasing trends, but truly understand their industry and have the ambition to go international from day one.