Ross Finlay, Angela Franklin and Brian Lowe

A week in Eastern Canada includes meetings in Moncton, NB and tonight in Halifax, NS.

I’ve enjoyed coaching a couple of entrepreneurs and appreciate the trust my hosts have shown. In an hour I’ll speak about my Moscow musings and share some portfolio diversification theories.

At first light I’ll be on my bike pedaling south along the coast for a long weekend. Will miss all my new friends here in Halifax, but I’ll be back for the NACO Annual Summit. Save the date and join me: Oct 24-26.

We’re traveling to a FAN meeting in Moncton, New Brunswick tomorrow then a repeat session here in Halifax on Thursday. Each night I’ll speak about my recent travels to Moscow. In the meantime I’ll rent a bicycle for a week starting at noon today and when I’m not at an angel meeting I’ll be touring the gorgeous Nova Scotia coastline by bike.

Ross and I talked of many things this morning and I was surprised to hear him say that NACO past-President W. Daniel Mothersill died on Friday, of a heart attack.

We told stories of Dan; how Ross and I were both in Madrid at EBAN’s Annual Congress — Dan was on a panel discussion I was moderating and he brought a technique I’ve used many times since: to stand. The idea being that by having the panelists stand, versus sit in comfy chairs, we’d be more interactive, better able to interrupt each other, and that the audience would appreciate this more dynamic presentation. I remember the day itself; we didn’t go on until late in the afternoon and it had been a day of long speeches by Madrid politicians. We sparked up the whole room with whatever topic we were covering, and according to Dan and fellow panelist Permjot Valia, we rescued the conference.

Of course, Dan was a guest on the Show here and when I return I’ll dust off that interview and republish it.

Nino Vianello

He started in international tax planning; Nino Vianello is an angel investor in the Hague, Netherlands, but not a member of an angel group.

He’s patient; concerns about the euro appear almost daily in the Netherlands press. “I don’t see myself investing until next year.”

Bernd Litzka

Bernd Litzka of Austria Wirtschatsservice in Vienna

Bernd Litzka is part of a very active angel group in Vienna, the Austria Wirschaftsservice. In just the past few years they’ve added 7% women members.

His 160-member group likes all the usual types of investments, like clean tech and life science, but when he mentions machinery I recall Luis Villalobos’ humor as he called that “rust bucket technology”. Bernd isn’t phased a bit as he replies to this taunt.

Show #376 Stream, flash player or iTunes

with Oleg Kozyrev, Director of the Higher School of Economics in Nizhny Novgorod

The next morning Dmitry picks me up with the driver — today’s sessions are downtown Nizhny Novgorod just blocks away from that beautiful pedestrian mall I toured the night before. This neighborhood is located opposite a glitzy new mall with all the same merchants you can find here at home — some civic leader’s idea of ways to lure more conferences to town, I suppose. Without prompting I start telling everyone within earshot of how this cannibalizes the local merchants and compromises the vitality of old downtown.

“The profits from that Armani store go back to Milan and don’t benefit Nizhny Novgorod,” in my best Locavesting tone of voice. Everyone knows I’m the oracle from California and just to make sure I’m wearing my white linen Master of Ceremonies jacket today.

My translator Yuri is back for another day of it and I’m getting used to all this special treatment — more confident, too. With Yuri by my side I can engage almost everyone. Soon I’m being interviewed by the local press and I try to explain that I’m a journalist, too, but somehow I sense she’s heard that line before — she stays on purpose and I must focus on responding with thoughtful replies. I make my point though, because I’m getting the sense she has few subjects that look so fixedly into her aging eyes. We’re interrupted but then I make sure we finish all her questions.

Kendrick White

Soon Kendrick White returns. I wasn’t sure how much time he’d dedicate to this event. We me yesterday at the incubator. “I’m raising a $50M fund for early-stage,” he says with all the swagger that you’d expect from someone here in the US. And that’s because Kendrick’s born and raised in Massachusetts, like I was; his parents had a place on a lake in New Hampshire, like mine did before they retired to Florida, yes, like mine did, too. The fact he’s only 75% Irish to my 90% is the biggest difference I can detect. He speaks fluent Russian and has a Russian wife. Before we part company I’ll learn how he originally came here through the Peace Corps and brought his own agenda with an economic bent. He’s a serial investor with an impressive background and I can see how everyone respects him.

He’s out to accomplish so many projects that I frequently wonder how many lives he’ll need to live to get them all started. He’s committed, focused and maybe he talks so fast because he hadn’t had anyone to speak English to in awhile, but it’s more like he has so many stories to tell.

I make the faux pas off telling him of my doubts about his goals of commercializing university intellectual property. It’s a good lesson for me to listen more and offer skeptical comments in smaller doses, but I see so little success with this approach in Los Angeles and I feel I must share. He’ll be modeling his plans after programs at the Universities of Utah and Colorado which I don’t know, so he’s got conviction and role models. Later I’ll feel that my skepticism cost us time because a day later, after we’ve smoothed over this discussion, I find he has many more projects and would like to hear my opinions and advice. Before the day is over the two of us are inseparable — we’re encouraging the young entrepreneurs or we’re kicking around his plans of building out the ecosystem for a new innovation economy for the whole country. If I had 2 lives to lead I’m thinking I’d spend one carrying his bags, so to speak, helping him execute these dreams. After a week in Russia I’ve seen many statues of poets and war heroes, now I get the premonition that I’m in the presence of an economic hero who could do a great deal to paint the future on this open canvas of Russia.

We say good-bye then talk for another half hour — Dmitry is out running errands so there’s time to kill. Soon I’ll be back at the hotel for a few hours rest before I repeat the train travel — this time with a good night’s sleep as we head back to Moscow. The 12 hour flight is smooth and comfortable, the time goes by quickly. I’m not nearly as tired as I thought when I get home, so those jazz tickets I thought would go to waste tempt me out of the house. I don’t know how to describe how long I’ve been in transit as I make small talk before the performance, but it’s been many. So it’s partly the fatigue and partly the power of this duet as they sing, tell stories and play the guitar — the experience overwhelms me and I start sobbing as I reflect on the gift I was given to go to Russia, to contribute to the EBAN Congress, the honor they bestowed on me to be their Master of ceremonies, then this totally over-the-top experience in Nizhny Novgorod. My mind singles out so many of the faces I encountered and how eager they all were to listen, to hear my advice. The opportunity to meet Kendrick and brainstorm the economic future of Russia — it’s a good thing I’m sitting in the front row, off to the side of the stage where no one will notice as I struggle to regain my composure. It’s been the experience of a lifetime and I’m hugely grateful.

Then I remember EBAN in Istanbul and John May approaching after the Awards Dinner, my first gig as MC. John’s comment has echoed in my ears ever since, “It’s gonna be awhile before you top this!” And it was.

Eduard Fiyaksel

You can't accuse me of reading my slides!

New friends in Nizhny Novgorod

Kendrick White and Vladimir Landyshev

Good bye Dmitry Budesko

In the Moscow Metro

“Did you sleep on the train?” The overnight train from Moscow to Nizhny Novgorod was my first sleeper car experience.

“No, not much.” It was like a long massage though; the jiggle of the rail car a constant interruption. Also, I was too excited to sleep.

My travel guide to Nizhny Novgorod, Dmitry Budesko

“You’ll see the real Russia,” was what several new friends offered. And it was something to see as the morning sun lit up the countryside view; I could see the rugged housing stock along the tracks, but was it much different from similar scenes along the tracks out of any major city here at home? My eye caught the pedestrians leaving home on their way to work via the bus stop. This was real Russia.

Dmitry Budesko, my travel companion and translator, was invaluable; he had everything pre-arranged. We were picked up at the NN station and whisked to the hotel. We were a threesome including EBAN past-President Brigitte Baumann, who would stay for one day, me for two.

EBAN past-President Brigitte Baumann and me with our translators at the Incubator

We knew we would be speaking, but we weren’t sure of the format. Since we’re totally exhausted and drained after listening to our translators — at the Incubator we each have our own — drone on interpreting the politicians’ speeches. Our turn to speak comes after lunch and we have just enough time to pencil an outline: I will interview Brigitte and contribute a few comments myself as we cover the basics of “Who are Business Angels” and “What Makes a Good Deal”. It turns out well, with plenty of laughs as we cover Investing 101.

Next up are the entrepreneur pitches and since we’re already seated at the speakers table we’re now in a good position to lob a few critiques at the presenters. More laughs follow as Brigitte and I have different opinions as we attempt to educate the audience. We make a good team and we both agree — we should go on the road again sometime soon.

Then the program winds down and as the cocktail reception begins I’m a little jealous as Brigitte makes her good-byes. It’s day 3 of non-stop conferencing and I’m tired.

A few minutes later a couple of graduate students approach: Do I have plans for the evening? Would I like to see the sights?

This sounds refreshing, as I drove in from the station I was lamenting I wouldn’t get to do much exploring.

“Meet Sergey and Vladimir, and there’s another Sergey who would like to join you.”

“I have a one-Sergey limit,” I shoot back for a laugh. I have no idea if they’re from some Russian mob, so I ask the ring leader, Dmitry Sidorov to talk it over with Dmitry Budesko who is responsible for me. I’m assured it’s fine and soon I’m being escorted through Nizhny Novgorod at dusk.

Seeing the sights with Vladimir Landyshev in Nizhny Novogorod

In 5 minutes we’re out of the car and walking along a beautiful vintage pedestrian mall through the center of town. I tell them there’s nothing like this car-free, mile-long boulevard in Newport Beach, but of course, to them it’s just home; they take it for granted. Vladimir insists on buying me some authentic Russian souvenirs, so I let him and I’m touched by my young entourage.

Soon another student meets up with us and dinner plans are kicked around. They seem to know what I’d like and lead me to it; soon after we’re settled Dmitry Budesko and Nadia join us and we’re a party of 6 in a British Pub on a beautiful Spring night.

The food, I can’t remember, but the non-stop questions, I do. They had me telling stories one after the other until Vladimir laughed at the obvious, “You’re full of stories!”

I picked up the tab and we’re off again for some special overlooks that really do show off the city lights on this balmy night. These hang outs are packed with young couples and I get the feeling that everyone’s coming alive after a long cold winter. Vladimir has ambitions and I’m off next for a late night walk around the local Kremlin with more stunning views of the Volga River far below.

It’s after 11 by the time I get back to the hotel, tired but invigorated. There’s one more day before I begin my long journey back to Moscow then home.

One of the nighttime scenes

Bob Chaworth-Musters on due diligence

I almost didn’t make it to the 5th annual NW Regional Angel Conference hosted by the Alliance of Angels in Seattle; I caught just the 2nd day of the session.

It was well attended and the content was excellent. AoA Chairman Dan Rosen summarizes the conference on his blog.

It was a gorgeous day in Seattle

Soraya Gadit and Kaushal Chokshi

There are two time choices for catching the bus from the hotel to the conference. I don’t stop to think about why there are two times, I just get on the early bus so as not to miss anything. I could’ve slept in, but sleep is hard to come by after traveling through 11 time zones. I’m not the only early bird, many of us are nibbling on sweets and drinking coffee while EBAN holds their elections. It seems to be taking longer than expected and as I mentioned earlier, many of us look a little groggy here on Day 2 of the 12th Annual EBAN Congress in Moscow. It’s a perfect time for capturing a few interviews.

Meet Inocrowd’s Soraya Gadit and Scaale’s Kaushal Chokshi.

Kaushal Chokshi, Manny Liu and Jordan Green on Moscow's Old Arbat Street

Bill Payne shared data on pre-money valuations

EBAN's new President Paulo Andrez

Walking home after the conference

Show #375 Stream, flash player or iTunes

Baris Tavilogullari

Day 1 of the EBAN Congress is a whirlwind. I moderate a panel discussion on Crowdfunding with Peter Braun, Karsten Wenzlaff and Korstiann Zanvilet. I invite Bill Payne to attend and ask some good questions; he does and it’s a lively session. Later, on the Moscow River cruise, I am Master of Ceremonies for the Awards Dinner. The big award for Business Angel of the Year goes to Paris Business Angels’ Phillipe Gluntz. Between passing out the awards I crack wise with “How Angel Investing is Like Sex” while hoping not to offend my Russian hosts too much.

So Tuesday I’m tired, but so is everyone else. These events, like their US and Canadian counterparts, are over-stimulating — there are so many old friends to connect with and many new ones, too. I bring my microphone on Day 2 hoping to catch some good subjects.

I start with Baris Tavilogullari of LinksAngel, a new group that’s part of the Business Angels Association of Turkey.

Show #374 Stream, flash player or iTunes