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vc funds from slovenia and croatia by vestbee
22 February 2022·6 min read

Ilya Mikhalchyk-Kananenka

Community Builder, Vestbee

Top VC Funds In Croatia & Slovenia To Finance Your Startup

In our new article from the VC series observing the most active venture capital funds across Central and Eastern European countries (among them Czechia, Ukraine, Romania and more!) we are about to take a deeper dive into two Balkan countries - Croatia and Slovenia.

To begin with, we should say that recently these two countries had started out actively growing their startup ecosystems as well as making corresponding steps like launching the first-ever VC funds, attracting foreign direct investment from the EU, and passing stimulating legislature which helps the innovative ecosystem flourish. However, there are good reasons to believe that local ecosystems are heading in the right direction. Take for example the appearance of the first unicorn on the Croatian soil - the communication software giant Infobip or growth of the funding check sizes. Additionally, both countries have a solid number of accelerators and incubators and enough coworking spaces to comfort business enthusiasts in their startup activities.

So, without further ado, let’s discover Top VC funds from Croatia and Slovenia investing in early-stage startups.

Fil Rouge Capital

Geography: Croatia
Preferred industries: sector-agnostic
Investment ticket: €10k - €2M
Company stage: Early stage

The first from our list, Croatian VC fund Fil Rouge Capital is solely and exclusively dedicated to investing in local startups across all sectors and industries. To have a chance of joining the firm’s vast portfolio, startups should have a cohesive, well-rounded team preferably with tech and sales-focused founders in charge. To be inclusive of the needs and aspirations of their prospective investments, the firm offers incubation and acceleration programs as well as a way for getting more traditional financing source - VC funding. The firm’s portfolio includes Flaviar, TVbeat,, Menassati, Equinox, Okarbon, App-Ray and much more.

South Central Ventures

Geography: Southern Europe
Preferred industries: Sector-Agnostic
Investment ticket:  up to €500k in seed funding and up to €5M in early to growth stage
Company stage: Early to Growth Stage

The next from our list, South Central Ventures is a VC fund spanning its presence throughout SEE like no other firm. By having offices in Zagreb, Belgrade, and Skopje, the team of SCV maintains a wide network across the whole of Southeast Europe and is seeking to invest in exceptional regional teams targeting global markets. Having well over 40 investments under its back, some, though not all of their startups include Cognism, Leanpay, and Orgnostic.

Silicon Gardens Fund

Geography: Slovenia and SEE
Preferred industries: Marketplaces & Consumer, SaaS, Food & Health, Education & Gaming, FinTech
Investment ticket: $50k and up to $200k 
Company stage: Pre-Seed and Seed

The next from our list, Slovenian Silicon Gardens Fund is an experienced early-stage VC mainly looking for startups across Slovenia but also investing across the SEE region.  The fund is mainly led by the former startup founders and is more than open towards helping its portfolio companies in finding the product-market fit or connections for further rounds. Silicon Gardens team has already invested in over a dozen companies such as Cleanshelf (acquired by LeanIX), coherence and Mimo within almost a decade of work.  

Feelsgood Capital

Geography: Croatia and Slovenia
Preferred industries: Sector-agnostic but having positive social/environmental impact
Investment ticket:  €100k - €1M
Company stage: Early stage 

The one and only fund from our selection dedicated solely and exclusively to impact startups is a Croatian Feelsgood Capital. To qualify for the fund team’s consideration, a company should tackle at least one of the UN’s Sustainable development goals as well as address large markets allowing for outsized financial returns. The firms’ small yet growing portfolio includes but is not limited to Mindsmiths, AGRIVI and BE-ON.

Suricate Ventures

Geography: global
Preferred industries: Fintech & Insuretech, Gaming, Metaverse, Health and Logistics & Supply Chains
Investment ticket: €50k and up to €200k in a syndicate with angels
Company stage: Seed and Series A

The next from our selection, Slovenian Suricate Ventures is a newly launched private VC fund that considers investments across many industries as long as the startup has a positive impact on the environment and upholds ESG standards throughout the business journey. As a private investment vehicle, the firm is aiming to be “smart capital” for their portfolio and support growth and expansion throughout all critical junctures of the startups’ development. As a recently launched firm, the team has only invested in but would more than happy to consider your startup too! 


Geography: Europe
Preferred industries: Sector-agnostic, startups with B2B focus 
Investment ticket: €50k - €200k
Company stage: Early stage

Last but not least, Slovenian daFUND is a recently-launched firm backing European founders at the earliest stages of development. Built by and for entrepreneurs, the fund is led by Darko Butina - an early investor that supported most successful startups from the region like Cognism and Cleanshelf (acquired by LeanIX). In addition to it, one will largely benefit from the support of the Business Angels Of Slovenia which help shape and run the fund. 

Apart from VC funds in Slovenia and Croatia, you might also consider the option of obtaining funding from local angel associations  - Poslovni Angeli Slovenije or CRANE  (Croatian Business Angels Network) in case your business is not yet ready or willing to apply for a venture firm’s investment. 

*If you have any insights about the article or know a VC fund that should’ve been included, drop me a line!

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