Stefan Zlatev
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Hey Stefan — similar-ish path to yours (IB → growth equity). been thinking a lot about proprietary origination in essential services lately. would be good to connect.
Hey Stefan, similar background — I came through banking at CS & Greenhill in London into growth equity, not engineering and climate investing like you, but we both ended up in the same deal origination world. origination was always the same story for me — clear thesis, decent relationships, but no proprietary system of record tying anything together. every deal virtually sourced from scratch, nothing compounding over time. curious if that's still how most funds operate or if I'm behind the times? — Russ
S - looks like we share a similar background, though I was in London doing growth equity deals at Treis not building a search fund focused on essential services like you. the pattern I keep seeing with most funds is weirdly consistent — strong thesis, solid network, but no proprietary system of record. the people, tools and ideas are never really connected, so every deal is virtually sourced from scratch. nothing compounds on itself. curious if that resonates or if you've built something different at Axia? - R
hey Stefan — no worries if the timing's off. most funds I talk to have tried some version of building origination in-house — analyst pulling from Grata or Pitchbook, maybe ChatGPT to help qualify, dumping it into a spreadsheet. each piece kind of works, but there's no system of record tying it together. the people, tools and ideas are all disconnected so everything ends up out of sync. been helping a fund like Mentmore work through that in a similar niche industrial space. curious if you've hit the same wall at Axia? — Russ
totally get it if origination infrastructure isn't top of mind right now — most funds have 10 things ahead of it on the priority list. the funds I've seen crack it early just tend to compound deal flow in a way that's hard to replicate later. if it ever moves up the list, I'm easy to find. — Russ
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Stefan — hope you had a good weekend. wanted to reach out — congrats on launching Axia Growth Partners, always impressed by those who've taken the leap. though we share a PE background, I hope to one day do the same and acquire a great services business. in the meantime I've been working on the origination side with funds like Backer Group and Mentmore — curious how you're thinking about origination at Axia. mostly proprietary or still seeing a lot through brokers? very best, Russell linkedin.com/in/russellt23
Prospect Research
## PROSPECT INFORMATION: Name: Stefan Zlatev Title: Co-Founder Fund: Axia Growth Partners Background: Stefan Zlatev is a Partner at Breakthrough Energy Ventures (BEV) based in New York, where he focuses on investing in innovative technologies to address climate change and reduce global emissions across agriculture, buildings, electricity, manufacturing, and transportation. He currently serves as a Board Observer for several climate-tech companies, including Brimstone, Rondo Energy, and Sortera Alloys, Inc. His professional background is rooted in high-level engineering and strategic management. He spent several years at Rolls-Royce in various leadership roles, including Engineering Team Leader in Japan and Engineering Programme Lead in the UK, where he managed components valued at over $500 million and delivered millions in cost savings through digital and process improvements. He also held an investment associate role at Volvo Cars Tech Fund and interned at NASA, analyzing the orbit of the International Space Station. He holds a Harvard MBA (where he was an Engineering Fellow), an MPhil/MEng in Energy Technologies from the University of Cambridge, and a BEng in Mechanical Engineering with Renewable Energy from The University of Edinburgh. He is a Chartered Engineer (CEng) and has passed Level I of the CFA exam. His key skills include mechanical engineering, clean energy technologies, business valuation, and large-scale data analysis. Specific LinkedIn Posts and Quotes: October 18, 2022: I’m in Seattle this week to attend the inaugural Breakthrough Energy Summit! #BESummit2022 is bringing together leaders and innovators across sectors to share ideas and collaborate on the critical climate solutions that will get us to net zero. April 28, 2022: After water, #cement as an ingredient of concrete is the most widely used substance on the planet and one of the biggest #carbon emitters. Congratulations to a phenomenal team tackling the #decarbonization of this crucial sector! Join Brimstone on the journey! March 17, 2022: Excited about Heirloom $53 million Series A. A great team working on slowing #climate change by lowering the cost of DAC via affordable minerals and a modular system. February 8, 2022: Excited to announce BEV's investment in Rondo Energy. Rondo's #breakthrough innovation enables industrial #decarbonization by opening a simple path in converting electricity directly to heat and storing it. September 30, 2021: Huge step for long duration energy storage - SoftBank Energy procures 2 GWh of ESS Iron Flow Batteries! Great leadership by SBE & ESS! July 13, 2021: Building the clean industries of the future will take courage and ambition. Breakthrough Energy Catalyst offers an important new way to lower the costs of critical climate technologies and accelerate their growth, so we can replace fossil fuels and create the net-zero economy we need. November 13, 2020: Breakthrough Energy Ventures portfolio company 1366 Technologies, Inc is in the running to participate in #SXSW2021... Help me make this important session a key part of the SXSW 2021 agenda. Fund details: - Description: We’re focused on acquiring and operating a single, high-quality business for the long term. As full-time, on-site operators, our goal is to lead with care, build on what’s already working, and invest in the future of the company—its people, processes, and customers. We’re drawn to industries and companies that provide essential services and are positioned to grow due to broader changes in the world—like increasing environmental standards, aging infrastructure, and the need for more reliable, efficient, and technology-enabled operations. We aim to carry forward the legacy of a business that’s built trust over time and is ready for its next chapter of growth. We’re focused on acquiring a company we can lead as full-time, on-site operators. Our ideal partner is a founder or owner who cares deeply about their company’s people, customers, and legacy—and is looking for the right team to carry that forward. We are especially interested in service-based businesses that are essential to their customers, show consistent profitability, and operate in fragmented markets with room for growth, either organically or through add-on acquisitions. We bring over 25 years of global experience in operations, engineering, project management, and strategy across several industries, and are committed to building a business with a strong culture, operational excellence, and a long-term view. Let’s build something enduring—together. - Website: https://axiagp.com - Location: Brooklyn, New York, United States - Lead qualification: Research: - Query: =Axia Growth Partners Stefan Zlatev recent investments fund thesis - Answer: Axia Growth Partners, led by Stefan Zlatev, focuses on acquiring and operating essential service-based businesses for long-term growth. They invest in fragmented markets with growth potential. Their fund thesis emphasizes operational excellence and sustainable growth.