Back In Ljubljana
Back in 2008, we invested in a small team out of SeedCamp called Zemanta. They were located in Ljubljana Slovenia but I met them in London. The following summer I visited the company in its hometown along with the Gotham Gal and our son Josh. I blogged about that trip here at AVC.
In the ensuing years, the founders moved back and forth between the US and Slovenia, encountered significant visa issues, and eventually built a strong business team in NYC and SF and Seattle. So the board meetings have been held in the US for the most part over the years with a few in London as well.
The founders decided that it was time to have a board meeting in Slovenia again and I made the trip yesterday (with some delays as noted in yesterday's blog post). Last night, as we walked through the lovely center of town along the river I was reminded of that trip we made four years ago and the wonderful time we had here.
We have a few portfolio companies that were started outside of the US and where the dev and product teams are still located in the home territory but the business team has moved to the US. This is a time tested model and has certain advantages. But it is easy to focus on the business team in the US and forget about the folks back home who are actually building the stuff.
I am excited to spend a morning with the "home team" and get to see the new offices. I've learned a lot working on the Zemanta investment, most notably that entrepreneurship is alive and well in many places around the world. It's great getting out and seeing that in action.