On 23 June, a book by Szymon Janiak was published, entitled "Start-up and Venture Capital. What You Need to Do to Successfully Raise Financing for Your Company", which shows in a pragmatic and at times even brutal way what the Polish VC world looks like from the inside. It is a must-read for anyone who runs or plans to launch their own start-up.

The author initiates the reader step by step and guides them comprehensively through the world of venture capital (VC). The starting point is a presentation of the current situation on the Polish VC market. Janiak educates "from A to Z" about what funds are – who creates them, how they make money, where they source projects from, and how they differ from one another.

In his book, the author addresses, among other things, the following issues:

  • how to prepare a company to attract an investor and what elements should be taken into account in the process;
  • what structure a pitch deck should have and what this entails, as well as how important feedback is – something that both VC representatives and founders tend to forget;
  • how successive investment rounds proceed, as well as the potential and actual exit.

Why did the author write the book and who is it aimed at?

"When years ago, still as a start-up founder, I reached for VC financing for the first time, there were no reliable sources of knowledge that would show what needed to be done. The market mainly offered information from the United States, which did not work at all in the Polish reality. You had to learn from your own mistakes – explains Szymon Janiak, author of the book 'Start-up and Venture Capital'."

Why did the author write the book?

Today, many years later, as I manage my own fund, I see the same problems among founders. I still have not come across a publication that would show in a simple and comprehensive way what you need to know to successfully raise financing from VC. That is how the idea for the book was born.

This is especially important now, when the Polish venture capital market has reached a historic peak. Record results apply to each of the key metrics: the number of investments, their value, and the share of follow-on rounds. Never before has capital been so available to start-ups, which significantly contributes to the development of innovation in Poland, thereby marking its position against other European countries. And although there is a lot of capital, this market remains highly competitive, so every effort must be made to stand a chance of obtaining this kind of funding.

"In the Polish reality, the best VCs invest in around 1-3% of the start-ups that come to them, and there are thousands of them. At our own fund, which I manage, we look at more than 1,300 young companies a year. There is no time for mistakes and repeated verification of the same ideas, which is why it is so important for a founder to prepare as well as possible. There may simply be no second chance for a conversation – explains Szymon Janiak."

First positive reviews

First positive reviews

Janiak's book has been well received by the community, earning its first positive reviews. Among those who decided to recommend it are, among others, Paweł Sikorski, partner at the ProtosNext fund; Jarosław Kuźniar, founder of the Kuźniar Media agency; Michał Olszewski, partner at Movens VC; Mateusz Łagowski, Chief Executive Officer at INKsearch; Marian Noga, Professor with habilitation and economist; Kacper Winiarczyk, Chief Commercial Officer at Dott; Mateusz Bodio, managing director at the RKKVC fund; Kazimierz Krupa, former editor-in-chief of "Forbes Polska", economic publicist, representing the company Drawbridge; Marek Kapturkiewicz, co-founder and partner at the Innovation Nest fund; and Karol Sadaj, Country Head Poland at Aion Bank.

"In a world where everyone wants to be a start-up founder, Szymon Janiak brings people down to earth and cools them off. Emotions, plans and dreams. Rightly so! Usually standing on the other side (that of the investor seeker), I believe that the more knowledge and the fewer illusions, the better for the market, business and dreamers. You usually hear: 'Build an MVP of your idea and come back.' Janiak's book suggests doing a pre-MVP so that plans can be corrected faster. Importantly, it does not absolve you from making mistakes" – comments Jarosław Kuźniar, founder of the Kuźniar Media agency.
"Educational, substantive, honest, uncompromising and even... brutal. That is Szymon Janiak's book. The author is the first in Poland to present the world of start-ups in a comprehensive way – he describes, explains, asks simple questions and even scores points. It is a publication primarily for people who are thinking about founding a start-up. But not only! The author's style, language and directness mean that everyone will find something for themselves in it. The industry badly needed a book like this. I am glad that Szymon has filled this gap" – this is how Karol Sadaj, Country Head Poland at Aion Bank, reviews Janiak's book.

The book "Start-up and Venture Capital. What You Need to Do to Successfully Raise Financing for Your Company" is available for purchase in physical form and as an e-book at szymonjaniak.pl

About the author

Why it is worth reading a book about venture capital

Szymon Janiak is co-founder and managing partner of Czysta3.vc, one of the most active venture capital funds in Central and Eastern Europe with capitalisation of PLN 50 million (approx. GBP 10.3 million). In the last 3 years alone, he has completed more than 30 investments in companies in the internet ventures sector. He has been involved in the innovation market for over a decade, both from the perspective of a start-up, an advisory company and funds. In the past, he was, among other things, a member of the supervisory boards of more than a dozen technology companies and a member of the supervisory board of a company listed on the WSE, managing investments and providing corporate finance services.

For many years he has been educating about start-ups, writing expert articles published in high-reach Polish media and, among others, on the social networking site LinkedIn, where he reaches nearly 30,000 followers. A former academic lecturer at prestigious universities, including the University of Wrocław, SWPS University and the WSB University.

Partners and media patrons

Partners and media patrons

The partners of the book are BNP Paribas Bank, Czysta3.vc, EVRY1 and Przygody Przedsiębiorców.

Media patronage over the publication was assumed by (in alphabetical order): Bezprawnik, Brief, Comparic, CRN, DoRzeczy, Dziennik Gazeta Prawna, Fxmag, ITwiz, MamStartup, Marketing przy Kawie, Mediarun, My Company Polska, Portal Medialny, Reach4.biz, Startup Wrocław, StockWatch and Telepolis.

More information about the book "Start-up and Venture Capital. What You Need to Do to Successfully Raise Financing for Your Company" can be found at https://szymonjaniak.pl/.

Summary

Szymon Janiak's book "Start-up and Venture Capital" is the first such comprehensive publication on the Polish market, showing the VC world from the inside. The author, managing partner of the Czysta3.vc fund, explains step by step how to prepare a company to attract an investor, how to build an effective pitch deck and how to go through successive financing rounds. It is essential reading for founders who want to avoid mistakes in their contacts with funds.

It is worth knowing that the best VCs invest in only 1-3% of the start-ups that come to them — and Janiak himself analyses more than 1,300 young companies a year. The book has already received positive reviews from, among others, Jarosław Kuźniar and Karol Sadaj, and its partners include BNP Paribas Bank and EVRY1.