AIN.Capital created an extended list of new VC funds that were launched in the first half of 2023. It consists of 10 investors that have their headquarters in the CEE and support the founders from the region.
Phoenix Fund
Headquarter: Ukraine, France
Fund size: €50 million
Investment stages: early-stage
In January, French government and the association of tech companies La French Tech Kyiv, headed by Dominique Piotet created the Phoenix Fund. It was announced by Frenc President Emmanuel Macron during the Conference for the Resilience and Reconstruction of Ukraine that took place in Paris back in December. The fund is interested in early-stage startups at pre-seed and seed stages, but will also follow. The fund is planning to make about 150 investments.
Startup Wise Guys
Headquarter: Estonia
Fund size: €45 million
Investment stages: early-stage
Tallinn-based accelerator Startup Wise Guys raised €25 million as partial closing for a €45 million target fund to support B2B SaaS startups from regions such as CEE, Italy, Spain, and Africa in February. The firm plans to support a total of over 200 early-stage companies, with a growing focus on direct investments. Since launching, Startup Wise Guys has over 350 investments in its portfolio like companies Ready Player Me, kevin., StepShot, and Ondato.
Speedinvest
Headquarter: Austria
Fund size: €3 million
Investment stages: pre-seed and micro venture capitals
In February, Austrian firm Speedinvest announced the launch of a €3 million fund of funds that aims to support 10-12 early-stage young VC funds, including those in emerging markets like India and Africa. The firm also claims that at least 50% of the GPs will be women or people from other traditionally underrepresented backgrounds.
APEX Ventures and Amadeus Capital Partners
Headquarter: Austria, the UK
Fund size: €80 million
Investment stages: early-stage
Austria-based APEX Ventures and UK-based Amadeus Capital Partners launched a joint €80 million fund in February. The joint fund focuses on seed and Series A-stage startups in the areas of AI and ML, quantum technologies and photonics, mobility, and space innovation, as well as autonomous systems. The ticket size issued by the Amadeus Apex Technology fund will range from €1 million to €1.5 million.
Look AI Ventures
Headquarter: Czechia
Fund size: €20 million
Investment stages: early-stage
The fund was established in late 2022 by the Prague-based foundation of AI Startup Incubator. It targets on pre-seed and seed-stage companies from Europe with AI-driven solutions at their core. Look AI Ventures aims to add at least 35 startups to its portfolio over the next three years. The ticket sizes start from €250,000 and can reach up to €1 million of reinvestment capital.
SCP Fund I
Headquarter: Poland
Fund size: €100 million
Investment stages: various stages of development
The Warsaw-based Spire Capital Partners launched its first fund, with €57 million committed for the first close, a key milestone towards the €100 million final target. The fund will focus on software, ecommerce, and tech-enabled service companies. Among the investors are EIF, PFR Ventures, Polish Family Offices, and private investors. “We are glad to support the team and their first fund in pursuing the strategy of offering an alternative to late-stage VC funding in the challenging market,” said Rozalia Urbanek, Investment Director at PFR Ventures.
Lifeline Ventures Fund V
Headquarter: Finland
Fund size: €150 million
Investment stages: early-stage
In May, Finnish VC firm Lifeline Ventures raised €150 million for the fifth fund. Lifeline’s primary focus is on the sectors of healthcare, games, web based, and general high technology. The firm invests between €500,000 to €2 million, and over time it can invest up to €15 million in a company. The latest fifth fund is the biggest one for the firm, and is largely backed by pension funds, as well as some family offices and private entrepreneurs.
Change Ventures Fund III
Headquarter: Estonia
Fund size: €20 million
Investment stages: pre-seed
Estonia-based venture capital firm Change Ventures launched €20 million third fund in May. Fund III aims to support startups on the pre-seed stages from Estonia, Latvia, and Lithuania. The firm plans to further invest in such industries: software and hardware, e-commerce, AI, B2B software, SaaS and consumer businesses, etc. Its ticket size is between €100,000 — €500,000.
ff Red & White
Headquarter: Poland, the US
Fund size: €60 million
Investment stages: late seed and Series A
In June, US and Poland-based international firm ff Venture Capital announced the launch of a new €60 million fund, ff Red & White. It targets startups The fund will focus on startups from Germany, Austria, Poland, Czechia, Slovakia, Romania, and Hungary in the industries of digital transformation, resource optimization, and sustainable transformation.
Innova/7 fund
Headquarter: Poland
Fund size: €350 million
Investment stages: late seed and Series A
The Warsaw-based Innova Capital announced raising €324 million, in the interim closing of its Innova/7 fund. It is more than 90% of the target set at €350 million. The fund focuses on sectors such as industry, business/financial services, the consumer lifestyle products, and services market. In May, Innova made its first investment in NETOPIA Group, a Romanian payment services provider, from the Innova/7 fund.
