LAUNCHub Ventures, an early-stage European VC which center mainly on Central Eastern( CEE) and South-Eastern Europe( SEE ), has completed the first closing of its brand-new money at EUR4 4 million ($ 53.5 M ), with an aspiration to reach a target size of EUR7 0 million. A final close is expected by Q2 2021.
Its principal support is the European Investment Fund, corporates and a number of Bulgarian tech founders and investors.
With this new fund, LAUNCHub aims to invest in 25 startups in the next four years. The initial speculation collection will be between EUR5 00 K and EUR2M in horizontals such as B2B SaaS, Fintech, Proptech, Big Data, AI, Marketplaces, Digital Health. The store will likewise actively invest in the Web 3.0/ Blockchain space, as it has done so since 2014.
LAUNCHub has also achieved a 50:50 gender split in its team, with Irina Dimitrova being promoted to operating marriage while Raya Yunakova who joins as an Investor, previously working for PiLabs in London and Mirela Yordanova connects as an Associate, previously heading the startup community at Google for Startups Campus in London.
The investor is mining a rich consider of highly skilled and qualified makes in the CEE countries where there are approximately 1.3 makes for every 100 beings in the labour force. “Central and Eastern Europe’s rapid economic proliferation has caught the attention of Western investors sought for the next unicorn. The field has huge and still untapped potential with more and more local success legends, paving the style for the benefit of future generations of CEE tech founders.” said Todor Breshkov, Founding Partner at LAUNCHub Ventures.
LAUNCHub Ventures rivals with other investors like Earlybird in the region, but they tend to invest at a last-minute stage and is more often a co-investor with LAUNCHub. Nearby Greece also peculiarity Greek stores such as Venture Friends and Marathon, but these tend to focus on their core country and diaspora entrepreneurs. Others include Speedinvest( typically focused on DACH) and Credo Ventures, more focused on the Czech Republic and CEE.
LAUNCHub partner and cofounder Stefan Grantchev told me: “Our strategy is to be regional , not to focus specifically on Bulgaria- but to look at all the opportunities in the region of South-Eastern Europe.”
LAUNCHub Ventures has backed corporations including 😛 TAGEND
Giraffe3 60( Robotic camera for real estate listing automation, co-investment with Hoxton Ventures and HCVC)
Fite( Premium direct to buyer digital live streaming for boasts, followed-on by Earlybird)
GTMHub( The world’s passing and most intuitive OKR software, followed-on by CRV)
FintechOS( Banking and Insurance middleware for automation and digital innovation acceleration, followed-on by Earlybird and OTB)
Cleanshelf( Enterprise SaaS management and optimization programme, followed-on by Dawn Capital)
Office RnD( Co-working and adaptable position space administration, followed-on by Flashpoint Ventures)
Ferryhopper( Ferry ticketing programme for Southern Europe, co-investment with Metavallon)
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