Undoubtedly, 2021 has been a record-breaking year concerning funding raised by CEE startups, which results from, among others, the constantly increasing activity in the region, growing sizes of investment tickets, and numerous leading VC funds from Central and Eastern Europe launching their second or third funds. Below, we present the list of VC funds launched in 2021 that are ready to fuel CEE startups and support the successful growth of the CEE market.
- Bulgarian Eleven Ventures accomplished the first closing of its fund of €60M focusing on early-stage SEE startups in Fintech, Healthcare, Future of Food, Future of Work, and Ecomtech sectors.
- Warsaw-based early-stage OTB Ventures company announced a $60M growth fund closure. The fund aims to invest in tech and R&D startups from the CEE region, with the potential to scale globally.
- Inovo Venture Partners raised €54M for its Inovo II fund aimed to support tech startups from Poland and the broader CEE region.
- Level2 Ventures is a new Polish VC fund targeting the Central Europe startup ecosystem. They have raised around €29M to invest in Polish tech startups in seed and Series A rounds.
- In January, early-stage European venture capital firm LAUNCHub Ventures, focused on the SEE and broader CEE region, announced the first closing of its €44M fund. Then at the end of the year (December), the fund made the final closing of its third fund at €74M aiming to become the largest seed to Series A early-stage fund in the SEE region targeting SaaS, Fintech, Proptech, Big Data, AI, Marketplaces, Digital Health, Web 3.0, and Blockchain startups.
- Early-stage Estonian venture capital firm Tera Ventures closed €43M fund to boost seed-stage startups in global expansion.
- Czech Kaya.vc which evolved from Enern Investments, aims to invest €72M into startups from Poland and the entire CEE.
- Karma Ventures from Estonia has closed its second fund with a hard cap at €100M. The firm will use the capital to continue backing the most promising early-stage European deeptech startups in Seed and Series A rounds.
- Tallinn-based Change Ventures Fund II has recorded an increase to almost €43M in commitments. The fund is dedicated to supporting Baltic founders in scaling their businesses across the globe.
- Vitosha Venture Partners from Sofia has launched a €26M fund, aiming at Bulgaria-based or related early-stage and growth-stage companies
- Founders of the first investment funds in Bulgaria – NEVEQ along with Neo Ventures and Neo Gravity, have gathered forces to create a platform supporting the local entrepreneurial ecosystem and providing up to 50k EUR funding.
- Bulgaria-based BlackPeak Capital announced the first closing of its new €120M fund with focus on the SEE region.
- Warsaw-based new venture capital fund Freya Capital of €14M has been launched. It aims to support early-stage Polish companies with a ‘smart money package’.
- 4growth newly launched Polish VC fund started its activities to support innovative solutions for the financial sector.
- Rockaway Capital, one of the first venture capital funds in the Czech Republic, has launched a new venture capital fund, the Rockaway Ventures Fund focusing on startups from Central and Eastern Europe that are digitalizing traditional industries according to ESG principles.
- Catalyst Romania, technology-focused venture capital firm announced the second closing for its growth capital tech fund. It aimed to approach the target size of €40M.
- Launchpad Capital from Lithuania has launched a new $35M fund with a focus on Lithuanian fintech startups.
- Lithuania-based Capitalia daughter company - Capitalia Fund Management AIFP has created its first closed risk venture capital investment fund dedicated to Baltics companies. The initial fund size is €1.25M and it is expected that in a year’s time it will be increased to €5M.
- The Government of Hungary invested €15.6M in a new fund Széchenyi Funds targeting technology companies startups in the growth phase.
- Ukrainian SID Venture Partners has been launched with a target fund size of $15M focusing on early-stage technology startups in pre-seed, seed and Series A stage.
- Anchor Ventures from Ukraine is a new pree-seed investment fund launched at the end of the year. The VC focuses on the pre-seed stage Ukrainian startups with the prospect of entering the US market.
To discover more VC funds, check out our VC list - a complex database of the best early-stage venture capital funds investing in innovative startups across different verticals. Read More.
If you have additional insight or interesting news to share regarding European VC funds, please drop me a line!
Related Posts:
VC Funding in CEE Report - 2Q 2021 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)
VC Funding in CEE Report - 1Q 2021 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)
VC Funding in CEE Report - 2020 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)
