Czech-based Rockaway Ventures, a European investment fund under the Rockaway Capital group, has announced the closing of its second fund, Rockaway Ventures II, at nearly €55 million. The fund targets late-seed and Series A tech startups, focusing on sectors such as energy, defense, and dual-use technologies.
Launching the second fund
Rockaway Ventures began its journey in 2014, initially investing without a formal structure and supporting early Czech startups like Productboard and Storyous. The current fund, launched in 2022, draws approximately 25% of its capital from its parent company, Rockaway Capital, with the remaining funds coming from private investors, mainly based in the Czech Republic.
“We’re not just capital. We’re entrepreneurs ourselves – we’ve built companies, and we understand what’s around the corner. Founders working with us receive hands-on support in areas like international expansion and scaling,” shared Petr Šmíd, General Partner at Rockaway Ventures.
Over the long term, Rockaway Ventures intends to back startups throughout their entire growth journey, from pre-seed to later-stage funding.
Expand portfolio with focus on CEE and diaspora startups
At present, the fund has 11 portfolio companies showing strong early growth. Over the next three years, it plans to significantly expand this portfolio, dedicating 60% of its investments to startups in CEE, while the remaining 40% will target Western Europe and diaspora-led startups from Czechia and nearby countries now operating in the US.
“We are currently seeing numerous investment opportunities in sectors significantly shaped by global trends and geopolitical developments. We are particularly interested in founders across Europe and the United States who are committed to driving growth and advancing their businesses through transformative technologies,” said Dušan Zábrodský, General Partner at Rockaway Ventures.
Rockaway Ventures bets on AI
After a few difficult years for venture capital, there are signs of renewed optimism in the tech sector. “The recovery began in 2024 and is continuing this year. One key driver is transformative technology, particularly AI. A few years ago, many investors didn’t fully grasp its potential. Today, we can clearly demonstrate its sector-specific impact – and that’s changing the game,” said Petr Šmíd.
Notable investments include Apaleo, a German cloud-native hotel management platform serving clients such as CitizenM and Limehome across 15+ countries; CulturePulse, a US-Slovak startup utilizing AI for behavioral modeling and risk prediction; and Gjirafa, a leading Albanian e-commerce and media platform that has raised $8.7 million from Rockaway Ventures across two funding rounds.
