“Seemingly minor structural decisions can create major challenges later.”
Damla Ilıca focuses on fund structuring, fund management, and investor relations as a principal at Maxis, a venture capital and private equity-focused portfolio management company within the İş Bank Group. She also serves on the board of the RC Alumni Association (RKMD). What do you and your investors currently look for in startups?
Execution speed and leverage have become dramatically more important. With AI tools and increasingly accessible infrastructure, very small teams can now achieve what once required much larger organizations and capital. Investors are drawn to founders who move quickly, learn fast, and use available tools effectively. Clarity of thinking, adaptability, and strong decision-making stand out.
At the same time, investors are evaluating not only products but also whether a company can grow into a sustainable institution. Governance, communication, and founder selfawareness are therefore critical.
What are the most common mistakes early-stage startups make?
Most focus almost entirely on product development and growth, but seemingly minor structural decisions can create major challenges later. One common issue is cap table discipline. Founders may distribute equity too quickly without considering future fundraising, governance, or employee incentives. Another is operational informality. Teams often rely on verbal agreements, but these can become problematic when institutional investors enter the picture. Clear agreements and decision-making structures matter much earlier than most founders expect.
How has RC influenced you?
RC taught me intellectual curiosity, while its competitive environment made me resilient. As a member of the Debate Club, I was inspired to study law. I also remember the late Mr. Carter, who always reminded us about the finer details of life beyond academics and achievement.
The Founder’s Investor: Serra Alkoçlar Alp RC 07 on Navigating Venture Capital
“Great founders have a strong point of view, but they are not rigid.”
