This week, venture activity across CEE is gaining momentum as three new funds launch with a focus on early-stage innovation and high-impact entrepreneurship. Newly established funds in the Baltics, Poland, and Greece aim to close persistent funding gaps while supporting founders with capital, operational expertise, and impact-driven strategies.
A new €35M fund targets early-stage innovation in the Baltics and CEE
A group of startup financiers has launched Aneli Capital, a new €35 million fund backing early-stage startups in the Baltics, Poland and wider Central and Eastern Europe. The fund will focus on ICT, robotics, space, photonics and energy, aiming to help young companies scale and secure follow-on investment.
Despite rising visibility, CEE startups still grapple with limited funding and slower scaling compared to Western Europe. Aneli Capital says it will offer fast decisions and founder-friendly terms to bridge that gap. “We look beyond hype cycles and back companies with real products, paying customers and sound economics,” said partner and fund manager Daiva Rakauskaitė, CFA.
The leadership team also includes Nerijus Baliūnas, Jacek Blonski, and Sabina Sinicienė. The group previously managed Business Angel Fund II and helped establish Lithuania’s VC and business angel networks.
The fund plans around 20 investments in its first five years, with average tickets of €1.5 million across multiple tranches. More than half of the capital will be invested in Lithuania, with the remainder directed to Latvia, Estonia, Poland and other CEE markets. Aneli Capital aims to fund eight startups next year and exit several earlier-funded companies.
Cofounder VC launches a new €30M early growth-stage fund to back revenue-ready tech companies
Polish Cofounder VC has unveiled a new fund aimed at early growth-stage technology companies, continuing the investment activity of the CofounderZone team. The fund will target startups with proven market validation, recurring revenue and strong potential to scale, offering both capital and hands-on operational support. The fund has completed its first close at €12 million and is targeting a total of €30 million.
The fund is sector-agnostic but will lean toward business process digitization, sustainability and health tech. Eligible companies should generate €100–200k in monthly recurring revenue and be profitable or near break-even. Cofounder VC plans to invest €1–3 million in about eight companies and will leverage a network of 250+ business angels for sourcing and co-investment.
“Innovation matters only after market validation. We invest when companies show demand, repeatable sales and momentum,” said Dr. Tomasz Golinski, General Partner.
Fellow General Partner Michal Sioda added that Cofounder VC aims to fill a funding gap in Central and Eastern Europe, supporting strong companies often overlooked by international investors.
Athens’ IFP Fund launches with €25.4M to back high-impact startups
Athens-based Investing For Purpose AKES (IFP Fund) has officially launched with a €25.4 million first close, backed by the European Investment Fund under the EquiFund II programme. The new venture fund targets entrepreneurs building businesses with measurable environmental, social and educational impact.
Positioning itself with approach to impact-focused venture investing in Greece, the fund aspires to help make the country a hub for social entrepreneurship. It is managed by an international team active in the Greek and European innovation ecosystems, which has already completed 12 investments in nine Greek impact-driven companies totaling €4.5 million.
“The next wave of innovation will come from founders tackling urgent social and environmental challenges,” said co-founder Markos Komondouros, noting that the fund aims to support such companies in Greece and beyond in partnership with the EIF and other investors.
