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Explore the four essential roles played by VC firms in the international expansion of investees, including Patrons, Coaches, Travelling Companions, and Guides. Understand the unique functions and requirements of each role for successful global growth. Learn from the Greek VC landscape and the significance of patrons and coaches in aiding investees in going global.
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International expansion of investees: four roles of the VC Aristos Doxiadis Notos Associates
PATRON: Base in W. Europe, N. America Discovers, introduces and connects COACH: Base in home country Prepares the investee for international career TRAVELLING COMPANION: Base in home country Travels with the investee, shares effort and risk GUIDE: Base in home country Brings inbound investment, solves local issues The basic roles
Provides: Prestige Networking Specialist know-how Requires Unique technology or product High potential Accomplished team PATRON Ideal match … but no examples come to mind of Greek investees! Distance is a problem.
Provides: Organizational development International rules Generic networking But: Limited direct help abroad Must link with a patron Requires: Receptive entrepreneur To manage growth To accept changing roles COACH In the local context this works. International success to be proven
Provides Risk sharing Some local help Management support Requires Mature track record at home Low business risk TRAVELLING COMPANION Successful examples of Greek expansion in East Europe. The time may have passed.
Requires: An international successful operator, but mid-sized Interested in local market Provides: Appetite for local risk Knowledge of local practice Networking GUIDE Works, but rare. Is constrained by international interest in local market
THE GREEK CASE • Very few investees have expanded internationally • Main constraints are with the investees, not the absence of suitable VC partners • Coaching is important • Best combination: patrons and coaches