Andris Berzins of Change Ventures is Featured in EUVC #71



Welcome to the European VC podcast, where we provide insights into the European VC industry. In this episode, we are excited to introduce you to Andris Berzins, the Managing Partner at Change Ventures, the largest pan-Baltic pre-seed/seed fund. Change Ventures is dedicated to supporting ambitious Baltic founders and is actively seeking founding teams with the determination to succeed.

Andris Berzins is a highly esteemed figure in the Baltic startup ecosystem. He was recently awarded the Human Development Award by the President of Latvia for his outstanding contributions to the nation’s future.

In this episode, you will learn:

– The current landscape of the Baltic ecosystem and what to look out for in this market.
– The commonalities between the Baltic and Israeli ecosystems, and how this informs Change Ventures’ investment thesis and strategy.
– How Andris collaborates with Angels in the region, fostering a close and vested relationship.
– Insights on building a remote-first VC firm, living on Slack, and valuable learnings for firms looking to grow internationally.

Keywords/Tags: entrepreneurship, europe, spreaker, startups, tech, technology, VC, venture, venture capital

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*This episode is sponsored by [Four Degrees]( Four Degrees is a VC relationship intelligence CRM that streamlines deal sourcing and closing. Built by VCs, Four Degrees transforms your network into an engine of opportunity, automating the deal-making process.*

To discover how Four Degrees can help you leverage your firm’s relationships to accelerate deal flow, visit [](

Andris Berzins, the Managing Partner of Change Ventures, joins us in this episode. Change Ventures is the go-to pre-seed/seed fund for ambitious Baltic founders. Over the years, Andris and his team have witnessed the tremendous growth and potential of the Baltic startup ecosystem, leading to their commitment to support local entrepreneurs.

Andris and his two partners have a rich operational background, having been involved in startups across various countries. They understand the challenges and successes of founders and have experienced both bankruptcy and triumph. This firsthand experience enables them to empathize with founders and offer valuable guidance.

Change Ventures’ first fund, launched in 2019, marked the beginning of their journey. With a concept fund of approximately €5 million, they invested in nine companies, some of which have already seen incredible success. In 2020, they closed the first phase of their second fund, anchored by the EIF, at €21 million. Today, they are proud to announce the final closing of their second fund, reaching an impressive €49 million.

The Baltic region is experiencing exponential growth, attracting nearly a billion euros in funding for startups in 2020 alone. Andris and his team firmly believe that the Baltic states have the potential to become the next Israel. The small population doesn’t limit the aspirations of Baltic founders, but rather encourages them to build globally scalable companies that can compete on the international stage.

The proximity and collaborative nature of the Baltic ecosystem expedite knowledge and capital transfer among founders. In events like Latitude 59, you might find yourself casually chatting with industry giants like Taavet Hinrikus, the founder of Skype. The supportive environment and collective wisdom make the Baltic startup scene a fertile ground for innovation and success.

We’re thrilled to have Andris Berzins on the show as he shares his insights on the Baltic ecosystem, the similarities with the Israeli ecosystem, the approach to collaboration with angels, and the unique challenges and opportunities of building a remote-first VC firm.

[Full transcript available here](

Be sure to listen to the episode to gain a deeper understanding of the Baltic startup scene and the exciting opportunities it presents for founders and investors alike.


Today, we’re happy to introduce you to Andris Berzins, Managing Partner at Change Ventures, the first and largest truly pan-Baltic pre-seed/seed fund. Change Ventures backs ambitious Baltic founders and are searching for founding teams that have the “grit” to succeed. Andris was also recently awarded the Human Development Award by the President of Latvia for an outstanding contribution to the future of the nation, what a guy 😍.

What you’ll learn in this episode:

– All about the Baltic ecosystem – what’s happening, what to look out for and how to approach the market
– Why Andris sees many commonalities between the Baltics and the Israeli ecosystem and how this informs Change Ventures’ thesis & strategy
– How Andris collaborates with Angels in the region and have brought them into his fund for a close and vested relationship
– Important reflections on building a remote-first VC firm, living on slack and key learnings for anyone looking to grow their firm internationally.

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