6 questions to Enis Hulli – General Partner at 500 Emerging Europe

In this interview, we speak with Enis Hulli, General Partner at 500 Emerging Europe, about his journey from a young entrepreneur to a leading venture capitalist in the emerging European tech scene.

Enis shares candid insights into the challenges of breaking into venture capital at a young age, his distinctive investment philosophy focused on global opportunities, and the vast potential of talent in Emerging Europe.

He also discusses how 500 Emerging Europe is bridging the gap between the region and Silicon Valley, positioning local startups for international success. Read on for his advice to founders seeking funding and strategies for scaling their businesses globally.

1. Can you share your career journey and how you became a General Partner at 500 Emerging Europe?

I explored various business ideas during university and co-founded a startup at 20, but it eventually failed. I then joined Rocket Internet, but that venture shut down quickly, pushing me towards a more risk-averse path. I started earning money by installing HVAC systems, using my Civil Engineering degree, but I felt unfulfilled and hungry for growth.

That’s when I turned to books and podcasts on entrepreneurship, which inspired me to start angel investing. After generating income, I built an angel network and eventually connected with 500 Startups. The opportunity to establish my venture capital fund was too exciting to pass up, so I transitioned from HVAC to venture capital at 25.

2. What were the biggest challenges you faced when entering the venture capital industry?

As a 25-year-old with no substantial track record and a failed startup behind me, gaining trust was difficult. It took two years to build a small group of supporters for my angel network, which is quite different from a VC fund, as angel investors have more control over allocations.

The hardest part was convincing people to trust my vision and back my contrarian thesis. Finding early believers was key to gaining momentum, and demonstrating unwavering commitment helped me overcome that initial hurdle.

3. Can you explain your investment philosophy and how you evaluate potential startups?

Emerging Europe is unique in that successful companies are globally focused. Unicorns in the region generate revenue internationally, raise capital from global VCs, and plan for exits abroad. Our investment thesis centres on betting on local talent while mitigating market risks, such as securing early customers, scaling revenue, and raising funds internationally.

We seek the best entrepreneurs in the region and global talents who aim to build tech teams in Emerging Europe. The pool of opportunities is smaller when targeting international markets, but the potential rewards are much greater. We aim to maximise access to the best global deals from this region.

4. What unique opportunities and challenges do you see in Emerging Europe’s startup ecosystem?

We focus on entrepreneurs with a global outlook who can attract international investors for future funding rounds. This creates a financing chain where startups that begin with regional VCs can later engage Silicon Valley investors. For example, our portfolio has raised over $1 billion, primarily from U.S. investors.

A key challenge for founders is that they often relocate early to build networks in the Bay Area, which can have short-term effects on team culture and product development. However, the greatest opportunity lies in the exceptional talent within Emerging Europe, which is what we focus on and invest in.

5. How does 500 Emerging Europe contribute to the region’s startup ecosystem?

We serve as a bridge between Emerging Europe and Silicon Valley, helping startups in the region replicate Silicon Valley’s success. After our initial success, more funds adopted similar strategies, benefiting the region. Around 70% of the founders we back have moved to Silicon Valley, reinforcing this connection.

Over time, this approach could lead to ecosystems in Emerging Europe similar to Israel’s, positioning the region as a genuine competitor to Silicon Valley, capitalising on its strengths while minimising its weaknesses.

6. What advice do you have for entrepreneurs seeking funding and growth?

Founders often unintentionally focus too early on regional markets, limiting future fundraising options. Fundraising, particularly in the early stages, is about proximity, and positioning your startup within a regional context reduces the pool of potential investors.

We encourage founders to think globally to attract international funds and maximise their growth potential.