LAUNCHub Ventures heading towards a $85M fund for South Eastern European startups – TechCrunch

Launchb VenturesAt an early stage European VCs, which focus primarily on Central Eastern (CEE) and South-Eastern Europe (SEE), have set their new funds at € 44 million ($ 53.5M) with the aspiration to reach the target Has completed its first finale. Size of € 70 million. A final closure is expected by Q2 2021.

Its main backer is European Investment Fund, Number of corporates and Bulgarian tech founders and investors.

With this new fund, LAUNCHub aims to invest in 25 startups over the next 4 years. The initial investment range will be between € 500K and € 2M in verticals such as B2B SaaS, Fintech, PropTech, Big Data, AI, Marketplace, Digital Health. The fund will also actively invest in the Web 3.0 / blockchain space, as it has done since 2014.

LAUNCHub has also achieved a 50:50 gender split with her team Irina Dimitrova While the operating partner is being promoted Raya Unakova Who joins as an investor, previously working for Pylabs in London and Mirala Yordanova Joins as an associate, previously leading the startup community at Google for Startup Campus in London.

The investor is mining a rich approach of highly skilled developers in CEE countries where there are approximately 1.3 developers for every 100 people in the workforce. “The rapid economic growth of Central and Eastern Europe has caught the attention of Western investors in search of the next unicorn. The region has vast and still untapped potential with more and more local success stories, paving the way for the next generation of CE tech founders. Todar Breshkov, founding partner Launchb Ventures .

Launchb Ventures competes with other investors in the region such as Earlybird, but they invest at a later stage and are usually co-investors with Launchb. There are also Greek funds in nearby Greece such as Venture Friends and Marathon, but these focus on their country of origin and migrant entrepreneurs. Others include SpeedInvest (usually focused on DACH) and Credo Ventures, Focused more on the Czech Republic and CEE.

LAUNCHub partner and cofounder Stefan Granchev told me: “Our strategy is to be regional, not to focus exclusively on Bulgaria – but to see all the opportunities in the region of southeastern Europe.”

LAUNCHUB Ventures is supported by companies including:

  • Giraffe360 (co-investment with robot camera, for real estate listing automation) Hoxton ventures And HCVC)

  • Fight (premium for consumer digital live streaming for sports, followed by Earlybird)

  • GTMHub (the world’s leading and most intuitive OKR software, followed by CRV)

  • FintechOS (banking and insurance middleware for automation and digital innovation acceleration, followed by Earlybird and OTB)

  • Cleanshelf (Enterprise SaaS management and optimization platform, followed by Don Capital)

  • Office RND (co-working and flexible office space management, followed by Flashpoint Ventures)

  • FerryHopper (Ferry ticketing platform for Southern Europe, co-invested with Metavelan)