Matviy from Berkeley SkyDeck Fund

Pitchside Perspectives #4

Jul 04, 2023

This week on #PitchsidePerspectives, we sit down with Matviy Kruglov of the Berkeley SkyDeck Fund. We explore his unique career path, love for surfing, insights into hidden tech trends, and the transformative power of a silent retreat.

Pitchside Perspectives is a bi-weekly newsletter that uncovers the human side of European VC. Stories, trends, and game-changing tips from the heart of the industry.

Behind the Portofolio

Please tell us a bit about yourself and where you're based.

Thanks for inviting me, Damian! As you know, my name is Matviy, and you can call me Mat. I was born in Ukraine, and France has been my second home for quite some time now since I moved there for my studies in 2011. Initially, I aspired to become a doctor, but I ended up obtaining a Master's degree in Information Systems Management after studying in France (IESEG), and the US (University of California Berkeley). In any case, both of these domains are about people :)

I have worked in Sales at Salesforce, provided GTM startup advisory services at the French Ministry of Finance and Economy, was part of a US GTM team in a SaaS B2B startup, and today, I am an associate at the Berkeley SkyDeck Fund. Working for it allows me to travel a lot, so currently I mostly split the time between San-Francisco/Berkeley (US) and Zurich (Switzerland) and the rest between Milan (Italy) and London (UK).

Hobbies & Hustle

Do you have any unusual hobbies or passion projects that excite you currently?

Surfing is not just a sport for me, it's a way of life. It's about savoring every ride while it lasts and embracing the knowledge that there will always be another wave on the horizon. If you're planning to hit the surf soon, I'd be happy to share some tips on great surfing spots in California, Hawaii, Puerto Rico, France, Spain, Portugal, Ireland, and even New York City.

Trend-Spotting

What underrated VC or tech trend should we be looking out for?

AI? AI? AI? Just kidding! Recently, at Berkeley SkyDeck Fund, in collaboration with OpenAI, Microsoft, MindsDB (our portfolio company), Sequoia Capital, Lightspeed, Mayfield Fund, New Enterprise Associates (NEA), and an astounding 1200 AI Hackers & even 3 real-life llamas, we successfully concluded the Berkeley AI/LLM Hackathon. It was truly, “The Woodstock of AI,” event that showcased the power of collaboration and innovation in the field of AI across various domains, with winners in FinTech, Health & Fitness, and DevTools. You can find more information about the event in this LinkedIn post.

Well, while AI continues to capture the limelight, FinTech will always remain an important topic (very curious about how DLT startups will embrace AI/LLMs). Also, it's important not to overlook the abundant opportunities hidden within the realms of Mother Nature (BioTech) and human cognition (HealthTech). AI serves as the tool that will assist humanity in uncovering these secrets at an accelerated pace.

This less-traveled path holds great promise for those who dare to explore it. By delving deeper into its mysteries, we can gain valuable insights and discover novel applications that venture capitalists will be eager to support.

A Funny Venture

Can you share a humorous or unexpected moment from your VC journey?

Oh yes! Actually, I have two stories to share. Back in 2019, I had the opportunity to do an internship at Berkeley SkyDeck Fund. Initially, they didn't have any space for an intern, but since I had just worked at VivaTech (the largest European startup event), I convinced a Principal at the time that analyzing the EU market, using a unique database I had, could be my internship project. By the end of the internship, they ended up investing in one of the startups I analyzed - Studyfree.org, which raised later $5.3 million. Since then, I have remained closely involved with the fund, assisting with investor relations and startup analysis.

In 2022, the partners of the fund approached me with an offer to help them expand their VC network in Europe. At that time, I was working on the GTM team of Pigment, one of the most promising European startups backed by Meritech, FirstMark, IVP, and Accel. Initially, I wasn't sure if I was ready to leave my "safe job" and fully commit to my "hobby" at Berkeley SkyDeck Fund.

To make my decision, I took 11 days off and attended a Vipassana silent retreat. During this retreat, I could truly listen to myself and disconnect from the noise of the outside world. After meditating for 10.5 hours a day for 10 days and spending time alone with my thoughts, I struck up a conversation with a fellow meditator who had been sitting on my left-hand side throughout the retreat. To my surprise, he turned out to be the CEO of the largest Central European CVC firm, managing several hundred million in AUM. We quickly connected, and he invited me to investor events for the next two days. It felt natural to be in that field, so I decided to give my hobby a full-time try and started working with Berkeley SkyDeck Fund.

Two lessons I learned from these experiences:

If there is no door, create one and open it.
Listen to your heart and take calculated risks.

The Game-Changer

What's the single most impactful tip, tool, or resource you've discovered in your VC career that our readers can start using today?

The VC world is a small and highly reputation-driven environment. It takes years to establish a solid reputation, but it can be destroyed in an instant. Therefore, it is crucial to understand your strengths and become an expert in a specific area. Aim to be the go-to person for that particular domain. Furthermore, be selective when choosing mentors, and remember to contribute to the community. Many founders approach me seeking advice on go-to-market strategies and introductions. In addition, I devote time to mentoring and sharing my insights on pitching and creating compelling decks. Always consider how each relationship can be mutually beneficial and strive for win-win scenarios.

About

As briefly as possible, where do you work, and what is your investment focus?

I work at Berkeley SkyDeck Fund, a highly active pre-seed firm. Our primary focus is to support 40-50 global startups each year that have been accepted into the Berkeley SkyDeck Accelerator program. We maintain an industry-agnostic approach, although we tend to invest in a significant number of B2B startups in the Software, Life Science, and Deep Tech sectors. The founders we choose to invest in typically possess master's or PhD degrees from prestigious global institutions, such as Cambridge, École Polytechnique, ETH Zurich, and TU Munich in Europe.

Links:

Pitchside Perspectives is a weekly newsletter that uncovers the human side of European VC. Stories, trends, and game-changing tips from the heart of the industry.

By Damian