Aperam Ventures - Stainless steel investor

Company: Aperam Ventures

Representative: Thorsten Zimmermann

Position: Senior Investment Manager

How would you explain your business in one sentence to your grandmother?

Aperam Ventures is the venture capital fund of Aperam (a global stainless steel producer). We are strategic investors. Our investment thesis is predicated on long-term value creation with disruptive companies that will support Aperam in building and maintaining a sustainable competitive advantage in the future.

Where did the idea come from and what problem does it solve?

Aperam Ventures initiative is coming from the Leadership Team of Aperam group.

How did you form a team? How do you know each other, why did you decide to work together?

I was recruited in 2022 by the head of Ventures.

Was there a moment that almost turned you down?

Never.

The biggest mistake so far?

It is too early to say. 

What is the most valuable advice you would give to those after you?

Try first, give first, forgive first. 

How do you resemble the Bulgarians and how do you differ from them?

Bulgarian are extremely proud people and I share this personality trait with them. However, I am not in love with my country and my traditions as much as Bulgarians. I am open to the world and always curious to learn something different from other countries and cultures.

Why is Bulgaria a good (or bad) place to start a business?

- Bulgaria is the most overlooked market in terms of Startups. Fastest growing countries in the Balkan region in terms of innovation.

- Bulgaria will soon receive €600m of funding for innovation for the EU recovery plan (fund managed by EIF and Bulgaria government).

- Bulgaria has recently passed a law to implement a startup visa enabling more entrepreneurs to come and settle operations in Bulgaria.

- Bulgaria has recently built a new vehicle for convertible debt, warrant, and vesting (is now legally recognized in Bulgaria).

- Bulgaria VCs still have funds to be deployed before the end of 2023.

- Bulgarian Startup Ecosystem has recently created its 1st Unicor: PayHawk (Billion dollars valuation company).

- Bulgaria has today some 17 active VCs (mostly focused on the pre-seed/ seed stage) and I anticipate newcomers in the coming years.

- Bulgaria is currently working on building bridges between Academia and the business world to accelerate technology transfer and spur economic growth.

- Bulgaria is currently showing resilience towards the energy crisis as a good proportion of its energy consumption is coming from nuclear plants.

- Bulgaria is a good country for entrepreneurs as it is extremely cost-effective to set up a business and grow operations here (access to talent, low level of salary and operating costs, low corporate tax 10%).

If you have a magic wand, which partner or investor would you like to bring to the team?

No one comes to mind.

What are your goals? Where do you want to go from here on out? 

Build meaningful and impactful relationships with extraordinary entrepreneurs by identifying the best companies, investing in them and supporting management team in achieving their vision for the business.

Additional information

I love to cook Kozunak 🙂