What (practically) do you do for us?

You get the co-founder your project is missing. Anthology partners become part of your team, getting involved in whatever area your project needs. The first step is developing a detailed plan to outline specific actions with key metrics. We’ll work and communicate directly (via skype, slack, smoke signals, etc.) with you like any other team member. If we don’t know the answer to something, we’ll find someone who does. We have a wide network, including our investors, whose experience and expertise are available to Anthology teams.

Do you take equity from startups?

Yes, we take between 4-7%, depending upon the degree of involvement, project needs and the stage of development.

How do you evaluate applicants?

Our experience proves that the single most important ingredients for any company are the founders, the need, and the market. We take a good look at these three factors, so you need to convince us that you have a good grip on all three. That means a deep understanding of your customers, how they perceive and act upon their need, and what solutions are currently out there. You should also have a good grip on what potential future competition is on the horizon – whether its technological or process-based innovation – that may influence your startup’s path

What qualities do you look for in founders?

OK, there’s the usual stuff like vision, determination, risk-tolerance. But our founders also have a healthy dose of creativity, flexibility, and pragmatism in their teams, not to mention compassion, patience, gumption, and generosity. These last qualities allow a team to see the world both as it is, and as it might be.

Whether your project is still at the idea stage, or you have a working prototype or initial traction, we need to see evidence of a strong, balanced team that can go the distance.

In practice this means:

  • Your team has the technical skills in your founding members (not outsourced) to deliver (at least) the first iteration of your solution;

  • Your team understands the scalability of your product, and has the evidence to support this hypothesis;

  • Your team shares the same commitment to long-term growth, outside investment and possible exit;

  • Your team is open to different opinions and perspectives, even if these may not match your own;

  • Your team is able to function independently enough to get the job done fast;

  • You like and respect each other enough to know if, and when, to change course – before it’s too late.

What synergies do you have?

We happily work with a variety of organizations, networks and funds. If you are interested in collaborating with Anthology on a particular project, co-investment, or other support, or want more information about current synergies, get in touch.

How is the company structured with its shareholders?

The mechanism combines a holding firm with support services for its portfolio companies. Investors hold shares in the mother company, which obtains equity in exchange for supporting the team. This structure ensures a high level of commitment and progress from the startups, and the curated portfolio produces better IRR and Spread of Risk, along with lower dilution, than standard funds. Anthology can also serve as a co-investment vehicle to further enhance IRR, and speed growth, either with other syndicates or VC funds. Anthology’s LPs also engage directly with our startups, either as mentors or individual investors by taking an additional stake in their company of choice.


Where are you located?

Anthology works with teams online – you don’t have to move to join the studio. Our office is in Sofia, Bulgaria.

What role do the angels play?

Anthology’s angel investors fund the Studio’s operations, and can invest directly in any studio company or project. They are advisors and mentors with a great deal of expertise; they can also join the projects with active roles.

I don’t have a project but I want to join one. Can I apply as an individual?

If you are interested in applying as an individual, get in touch with us. We are always looking for talented people who want to build great companies, and we understand that not all founders arrive with a team, or even an idea. We’ll want to know a few things about you – past experience, skills, why you want to join, and what kind of project you are interested in. Drop us a line – once we hear from you, we’ll get back to you as quick as we can.

Do you take non-scalable projects?

Not all startups can go global. We look for companies that will offer products or solutions to sizeable markets, with the potential to generate significant revenue. In some cases, this may take the form of a ‘lifestyle’ or SME type business. The key is your ability to grow by creating value for your customers, and your investors.