I am very proud of Blue Lake's achievements in the past 12 months, but it's hard to talk about them without focusing the war and its impact on us at the start of the year, not a topic I want to explore. One thing I want to mention is to thank our investors who supported us during this period - it meant more than we can express.
So, what can you expect from Blue Lake in 2023?
INVESTMENTS
Continue growing and expanding our investment activities, focusing on Pre-Seed and Seed stage, under the radar companies with great products and teams.
Investment approach will continue to be product- rather than tech-led. We are focusing on the real problems being solved at scale rather than falling in love with a particular technology. Expect to hear words like revenue and even (gasp) profitability when talking with us.
While, generalist we do tend to see a great mix of AI, data, real estate, and education-led startups.
Doubling down on our approach of becoming a bridge for immigrant founders in the UK. This is that rare beast where impact meets returns.
Exploring early exit space. It's time for the VC industry to undergo some of its own innovations.
We are scaling our investment activity up from SPVs, moving towards a fund.
OFFICE HOURS
As the VC game goes, we can only invest in or even engage with a fraction of the talented international founders we get to see. To make it amore meaningful experience for all involved, we are once again launching International Office Hours. We will be matching international startups with participating UK-based VCs helping to introduce yet unknown founders to the wider ecosystem.
BLUE LAKE ACCELERATOR
Blue Lake was started as an accelerator before we moved wholly into investment space. In 2022, with the support of our friends from Capital Enterprise we launched a very special type of acceleration programme that we will be carrying on in 2023. We have very small cohorts allowing for an ultra personal approach. For us this offers an amazing way explore that age old question 'how can a VC best support a startup'
COMMUNICATION APPROACH
Being a VC, you have to have a presence on the social media - it's just the way it is. There are different ways of doing it and 2022 was the year of shit-posting. We want to go a different way. Communications from Blue Lake and its team members will be:
No bullshit.
Remember our space in the ecosystem - we are not the stars of the show, startups and their products are.
Go easy with dispensing advice to startups. Unless it's something genuinely helpful, there is no need for yet another smug list of "top ten things founders are getting wrong."
With founders, we are respectful but brutally honest, particularly when it comes to reasons for rejections.
Finally Blue Lake team would like to wish everyone a very successful, prosperous and peaceful year!