March 28; summertime is back π
Work hard, play hard... this was my week π¨π»βπ»πΏ
Happy Sunday,
With March Equinox last weekend, the European summer time back as of today, and the sunny, warmer days that came this week β at least here in Sofia β it for sure feels like spring is finally in the air. And as the time difference for calls with California goes back to the good-old manageable 10 hours, and we start preparing the patios for what will an unmistakably good summer of rooftop parties, it was time for Ellie and me to indulge in one more, maybe last, bit of winter pleasure.
Borovets magic β·βοΈ
Itβs no secret, Bulgaria gets its best snow in March. The ski season usually closes on or around April 15, and so last week we planned another two-day ski workation in Borovets, 70km south of Sofia. But boy were we lucky with the weather.
With the restaurants closed due to the current lockdown, as well as the majority of the hotels, Borovets was blissfully uncrowded the entire three days, with mostly only people like ourselves, who booked a cabin or chalet, or who came just for the day, enjoying the conditions. One thing we got very lucky with is the cross-country part: apart from perfect snow, smooth like butter, there was also a military ski tournament going on, with both cross-country and biathlon disciplines, due to which the resort groomed all 12km of trails on Tuesday and Wednesday; a luxury you only get once or twice per season.
While March may be the best snow time in Bulgaria, itβs unfortunately also the time with the most avalanche activity and risk. Ellie and I mostly cross-country ski, and on the rare occasions we downhill, we keep it to average-difficulty official slopes. But many folks that are really good at downhill skiing or snowboarding do off-piste or free-riding in the slack country (or beyond), and thatβs where tragedy can strike. Bulgaria happens to be the only mountainous country in Europe without an official body responsible for avalanche management, which is something that our friends Rossi and Alexander, together with their skiing buddies, decided to do something about. They launched Avalanche Bulgaria, an NGO that tracks avalanche risks, issues a proper bulletin, and coordinates awareness and rescue efforts. Have a look and donate if you support the cause.
1300, the special number ππΆ
No, this is not about how old Bulgaria is, but about our work at Vitosha Venture Partners. This week we reached another milestone in our investment work, as we prepare to announce investments in thirteen additional companies over the next weeks, our biggest number yet. The document package for what is technically called a fund drawdown averages at about 100 docs per investment, totaling at slightly over 1300 files in total. Itβs something that weβve been working around the clock on for the past month, and we canβt wait to finalize and announce the deals very soon.
Weβve built a bit of a tradition, that Iβm very proud of, to share personal stories about our investments, which we refer to as Vitosha Stories. Check them out, and weβll be adding the new ones as soon as they close.
Going social again, slowly π
Building relationships is a core part of any business, and the venture business especially. Pre-Covid-19 I used to be part of a lively conference circuit, in Europe and US, where the relationships were built that allowed me to do what Iβm doing today. Although I personally enjoyed the past year of no travel and focusing on work, time with Ellie, and exploring Bulgaria, it does start to feel real that I miss my international group of work friends and associates. And so this week I was really happy, when the wonderful Tech.EU founder Robin Wauters invited to me to be part of his ScaleUp stage at the Wolves Summit conference, in its online edition this year. I spoke at the very first Wolves Summit in 2015, in Gdynia in Poland, and since then Wolves has gone on toe become one of the biggest tech business events in Europe.
For his panel, Robin invited a stellar group of people representing CEE venture capital, including my friends Mirela from Launchub Ventures, Veronika from Oktogon Ventures, and Oliver from SpeedInvest. It was a pleasure to chat again, and I canβt wait for the time when we can all meet and mingle finally in person.
Great weekend read ππΈ
Thereβs a nice little bookstore on Shishman street 27, where Ellie and I often walk by, and some months ago we noticed an intriguing volume displayed in the window: the 500-page English edition of the photo history book βA Guide to Communist Bulgariaβ.
Yesterday we finally bought it, and spent our entire Saturday evening absorbing it. The bookβs writing is a bit tedious and wordy, but itβs based on a great premise: the analysis of todayβs Bulgaria through the physical remnants of its socialist-era past. Iβve often thought how Bulgaria is the only post-communist country in Europe (outside former Yugoslavia, but thatβs a very different story), where the Soviet-colony period is still visible in almost everything you see: any public building, street layout, monument, or even signage. This book is a great story about why that is, with gorgeous photos and explanations. Check it out here and order, it makes for a great coffee-table volume.
Thanks for checking in today and talk to you next Sunday! π
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