June 4, 2024
August 16, 2025
Or how to understand the thinking of investors? Denys Sychkov, Principal at Horizon Capital, provided insights on what investors seek during one of the Mission Possible Business Breakfasts.
Denys Sychkov has devoted his career to investing and supporting startups. He started at PwC and then moved to McKinsey, working on strategic management, strategy development, and operational efficiency.
For the last five years, he’s been at Horizon Capital, covering the full investment life cycle — from deal origination and company growth to exit strategies. As a principal, Denys has a deep understanding of investment markets and what it takes for a company to succeed.
His portfolio includes companies like Genesis, Ajax Systems, Rozetka, and more others. Besides, Denys is one of the mentors in the Mission Possible venture building program and he is passionate about helping founders in the early stages.
“I believe future unicorns are born at these breakfasts.”
Horizon Capital seeks founders who have already built a business. The fund boosts company growth with capital and intellectual resources, prepping them for exits like IPOs.
Denys emphasized that the fund is known as “founder-friendly.” This reputation is their most valuable asset and the hardest to maintain.
The main criterion for investment readiness is business performance.Focus on building a successful product to show strong operational and financial results.
“Your key goal is to build a great product.”
Typically, they invest in companies already profitable or on a clear path to profitability, but there are exceptions. The fund avoids companies overly reliant on fundraising to mitigate macroeconomic risks.
Be prepared for market cycles and investment crises. Markets go through cycles, and it’s crucial to understand this. Denys notes that the current cycle is relatively negative for entrepreneurs, but it will recover. Be ready for the upswing.
No one can control macroeconomic conditions, so focus on creating a quality product, assembling a solid team, and having clear financial forecasts. Fundraising is also important, but the main thing is a quality product.
The fund continuously brings in new people and works on new deals. Watching the growth of Ukrainian companies they’ve invested in is special for Denys, as these companies shape modern Ukraine.
Denys says they constantly monitor ratings, consult with lawyers, and talk to investors to find promising companies.
After initial review and discussion with the investment committee, they request more detailed data. If everything checks out, they move to due diligence, which includes:
Finally, they make a binding offer. Their last deal closed 11 months after the initial meeting, showing their thorough approach.
Denys’s red flags are related to ethics. The wrong partner choice can lead to losses, even in good times. He underscores the critical importance of ethics in choosing partners.
Denys also shared his vision for Ukraine’s economy. He sees a significant rise in the role of technology and the creation of many high-paying jobs.
“Ukraine can become an outpost of civilized Western values, protected both ethically and physically.”
Creating a quality product, adapting to market changes, and maintaining ethics in partner choices are key to startup success. By fostering a community of like-minded individuals, Mission Possible is launching a new wave of entrepreneurship in Ukraine, making their mission truly possible.
