Central and Eastern European countries, including the Czech Republic, have been in the spotlight of early-stage venture capitalists for a while now. Moreover, during the past five years, the recognized potential of the developing local tech and innovation environment made CEE one of Europe’s fastest-growing regions for venture capital funding.
2021 brought a record-breaking VC ecosystem growth that more than doubled the total number of European tech unicorns, as a result of the pandemic and a rising urge for technology innovation. The venture capital boom has been, however, hit by the global economic downturn of 2022, leading to gradually dropping European early-stage investments throughout the year despite their spike in Q1, Dealroom reports.
With the growing feeling of uncertainty in 2022, it is only natural for VC funds in Czech Republic to become more cautious about the choice and volume of their investments, which presents an advantage to the lower, early-stage funding rounds. The Czech Republic has also recorded several milestones in 2022, including building its second unicorn and opening several new funds.
Getting a real grasp of the funding opportunities the Czech Republic offers in 2023 may be particularly challenging for first-time-raising founders. To introduce the Czech investor environment and make the initial process less overwhelming, The Recursive has created a list of 20+ early-stage VC funds in Czech Republic you should know before your first fundraising.
This article presents only the beginning of mapping out the early-stage investors in The Czech Republic. Please, feel free to contact our newsroom with updates or companies we should add to the list: [email protected]. List is in alphabetical order.
Top VC funds in Czech Republic for your early-stage startup
1. Credo Ventures
Region focus: CEE region
Industry focus: IT, Internet & Health
Ticket size: up to €5M
General partners: Ondřej Bartoš, Guillaume Fournier, Maciej Gnutek, Karolína Mrozková
Notable investments: Productboard (unicorn), UiPath (exit)
Credo Ventures focuses on pre-seed to seed startups, managing €250 across their four funds. The VC is currently investing out of its fourth fund of €75M, opened in 2022 and backed by individual and institutional LPs. They look to support companies from their idea stage to the early signs of product market fit.
2. Czech Founders VC
Region focus: CEE region
Industry focus: Agnostic
Ticket size: €50-350K
Managing partners: Vít Horký, Václav Pavlečka, Ivan Kristeľ
Notable investments: GitGut.ai, Digital Transformation Systems (DTS)
Founded in 2022 by a team of Czech and Slovak founders, Czech Founders VC is an early-stage venture capital firm that supports startups at their initial, pre-seed stage. The founders are also a part of the team behind the largest community of 500+ founders from the Czech Republic with global ambitions, Czech Founders.
3. DEPO Ventures
Region focus: CEE and the Baltic regions
Industry focus: Agnostic
Ticket size: Undisclosed
Managing partners: Michal Ciffra, Petr Šíma
Notable investments: Tatum, Bolt
DEPO Ventures is an angel network and VC which focuses on pre-seed & seed stage tech startups. In 2022, DEPO Ventures opened its third and biggest angel fund in the CEE, aiming for €20M. They have invested over €10M, and, besides funding, also accelerate and support founders on their journey.
4. Fazole Ventures
Region focus: CEE and Baltic regions
Industry focus: B2B, Utility, Banking, Transportation, Retail, Smart City, Telco
Ticket size: €50-800K
Managing partner: Pavel Přikryl
Notable investments: Whalebone, datasapiens
Fazole Ventures seeks to help innovative people succeed in moving the world forward using their own resources. They support early-stage companies from the seed stage by providing startups with funding and additional help in developing their business.
5. Impulse Ventures
Region focus: CEE region
Industry focus: B2B, SaaS, Tech, Cybersecurity, e-Commerce
Ticket size: €500K-2M
Managing partner: Ondřej Tomek
Notable investments: Kiwi (exit), Mall.cz (exit)
Impulse Ventures partners with ambitious founders at seed, Series A & beyond. As a team of investors, founders, HR experts, and finance and product specialists, they are ready to work alongside the founders. Over the past decade, the VC has successfully built and exited companies with a combined value of over €650M.
6. J&T Ventures
Region focus: CEE & SEE regions
Industry focus: FinTech, PropTech, Retail, IoT/IoE, and Industry 4.0
Ticket size: €500K-2.5M
Managing partner: Adam Kočík
Notable investments: Talkbase, Yieldigo
J&T Ventures is an early-stage venture capital fund that invests in promising seed and Series A startups. While their strategy is industry agnostic, they primarily focus on companies with proven product market fit. The VC currently manages a fund of €50M.
7. KAYA Ventures
Region focus: CEE region
Industry focus: FinTech, PropTech, Retail, IoT/IoE, and Industry 4.0
Ticket size: €100K-3M
General partners: Pavel Mucha, Tomáš Pacinda, Martin Rajcan, Tomáš Obrtač
Notable investments: Rohlik.cz, Twisto (exit)
KAYA Ventures‘ mission is to support exceptional founding teams that shape industries and create enduring change sustainably, from studio projects, pre-seed, and Series A to follow-ons. KAYA was born from a financial group Enern Investments, representing a separate, VC-focused successor with a latest fund of over €70M backed by LPs, including the EIF and several successful entrepreneurs.
8. KOOPEO Ventures
Region focus: CEE region
Industry focus: e-Commerce, Mobile, Internet, Affiliate Marketing, FinTech
Ticket size: €100-500K
Managing partners: Petr Špaček, Libor Daněk, Vladimír Šťastný
Notable investments: Precismo, Keyguru
KOOPEO Ventures is an investment company focused on emerging projects with the potential for high revenue growth and company value. They invest their own money and are part of a wider group established in 1995.
9. Lighthouse Ventures
Region focus: Europe
Industry focus: Agnostic
Ticket size: up to €2.3M
Managing partner: Michal Zálešák
Notable investments: PEKAT VISION (exit), AhoyConnect
Lighthouse Ventures is an early-stage and acceleration venture capital focused on technology projects with a global vision. Lighthouse Ventures’ mission is to nurture inspiring projects that create strong value for the Czech Republic throughout their critical stage. The team manages a portfolio of value €28M (early 2022).
10. Look AI Ventures and AI Startup Incubator
Region focus: Europe
Industry focus: AI, Agnostic
Ticket size: €50K-1M
Managing partner at AI Startup Incubator: Martin Havlík
Notable investments: Trackbar, MotionsCloud
Look AI Ventures (LAIV) is the first investment fund in the Czech Republic that focuses exclusively on AI startups worldwide. LAIV follows up on the foundation and investment done by AI Startup Incubator (AISI), providing pre-seed and seed startups with smart money. In Q4 2022, AISI became a subsidiary of the LAIV fund and merged its existing portfolio, expertise, resources, scouting, and evaluation processes into the new fund structure.
11. LUMUS Investment Collective
Region focus: CEE region
Industry focus: Agnostic
Ticket size: €50-200K
Founders: Lucia Cerchlan, Vladimíra Činčurová, Terézia Jacová, Zuzana Zamborská
Notable investments: Roleshare, Flow
LUMUS Investment Collective is an initiative educating, supporting, and connecting female angel investors with startup founders at the pre-seed stage. Highlighting the need for more women in the world of investment, the LUMUS team offers women investment courses and guidance and investment opportunities for experienced angels.
12. Miton
Region focus: CEE region
Industry focus: B2C
Ticket size: Undisclosed
Managing partners: Tomáš Matějček, Milan Zemánek, Ondřej Raška, Michal Jirák
Notable investments: Rohlik.cz, Glami
Miton builds its philosophy on trust, respect, and collaboration. They invest their own money and focus on innovative digital B2C companies that help improve people’s lives, establishing businesses in cooperation with the founders or joining them in the early development phase. Miton’s portfolio is currently valued at €450M.
13. Nation 1 VC
Region focus: Czech Republic, CEE region
Industry focus: FinTech, InsurTech, AI, CustomerTech, e-Commerce, Travel
Ticket size: €50K-1.5M
Managing partners: Marek Moravec, Jaroslav Trojan
Notable investments: VRgineers, Pealock
Nation 1 empowers Czech entrepreneurs in building global companies and focuses on investments in pre-seed and seed-stage startups. They aim to become a business investor as well as a partner. Nation 1 VC launched a €35M fund in 2019, mainly backed by EIF.
14. Presto Ventures
Region focus: Europe
Industry focus: B2B, Tech
Ticket size: up to €3M
Managing partner: Přemysl Rubeš
Notable investments: Cloudtalk, Yieldigo
Presto Ventures‘ mission is to empower CEE talent for faster progress, supporting startup founders in quick learning, business development, and growth. They focus on pre-seed and seed investments. Presto Ventures closed its second fund of €30M in 2022, backed by private investors, including entrepreneurs and family offices.
15. Purple Ventures
Region focus: Agnostic
Industry focus: Tech, Agnostic
Ticket size: €200-500K
Managing partner: Jan Staněk
Notable investments: VRgineers, Tatum
Purple Ventures invests smart, kind money into early-stage tech startups with initial revenue and global ambitions. They are a family-office type of VC aiming to partner with pre-seed and seed startups and funds around the globe.
16. QQ Capital
Region focus: Agnostic
Industry focus: Tech, Agnostic
Ticket size: Undisclosed
Notable investments: Staffino, Eseye
QQ Capital is an investment company helping companies at their pre-seed and seed stages to grow and find new investors or strategic partners. They seek investments and co-investments to support tech companies with unique potential and help shape a strategy for business growth.
17. Reflex Capital
Region focus: Agnostic
Industry focus: Agnostic
Ticket size: Undisclosed
Managing partner: Ondřej Fryc
Notable investments: ePojisteni.cz (exit), Productboard (unicorn)
Reflex Capital is an early-stage investor backed by the team’s years of experience in management, e-Commerce, research, or investment, and other areas, with multiple million-dollar exits. Reflex Capital bases investment decisions on instincts and identifying the right people. They invest their own money and, as entrepreneurs themselves, focus on helping their founders grow ideas and personalities.
18. Rockaway Capital
Region focus: CEE, DACH, Balkan regions
Industry focus: e-Commerce, e-Travel, Media, FinTech, and Blockchain
Ticket size: Undisclosed
CEO: Jakub Havrlant
Notable investments: Productboard (unicorn), BudgetBakers
Rockaway Capital group opened and became one of the main investors of their new Rockaway Ventures fund in 2022, targeting a size of €100M. Their focus is primarily on early-stage startups digitalizing traditional industries while following ESG (Environmental, Social, Governance) principles. The current value of their portfolio is €139M.
19. Seed Starter ČS
Region focus: the Czech Republic
Industry focus: Agnostic
Ticket size: Undisclosed
Managing partner: Jiří Skopový
Notable investments: Rekenber, Wflow.com
The investment fund Seed Starter ČS was established by one of the largest Czech banks, Česká spořitelna. The fund focuses on pre-seed and seed investments, aiming to back startups with long-term goals. Besides investment, Seed Starter ČS also offers boot camp and incubation programs.
20. Soulmates Ventures
Region focus: CEE region
Industry focus: Sustainability
Ticket size: up to €1M
Founder: Hynek Sochor
Notable investments: VOS.Health, Precismo
Soulmates Ventures is a sustainability-focused investment fund investing in pre-seed and seed startups with a current portfolio value of €5.6M. As the only green investing accelerator in Central Europe, Soulmates Ventures specializes and seeks investments in air, water, energy, circular economy, food, agriculture, mobility, education, and healthcare solutions.
21. STARTGUIDE VC
Region focus: CEE region
Industry focus: primarily B2C: Digital transformation, DeepTech, AI
Ticket size: €50-200K
Managing partner: Petr Jahn
Notable investments: Forloop.ai, Digital Transformation Systems (DTS)
A team of experienced entrepreneurs founded STARTGUIDE VC to support young teams at their pre-seed and seed stages. Offering a range of support and resources, STARTGUIDE VC combines investment with mentorship, strategic guidance, and access to our extensive network of industry experts and resources.
22. Tensor Ventures
Region focus: CEE region, UK
Industry focus: AI, IoT, Blockchain, BioTech, Quantum Computing
Ticket size: up to $2M
Managing partners: Martin Drdul, Roman Smola, Petr Ulvr
Notable investments: Tatum, Veracity Protocol
Tensor Ventures is an invitation-only, new-generation venture capital fund investing in Deep Tech and sustainable innovation startups at seed to Series A stages. They offer an active investment approach, unique opportunity sourcing, and efficient management. They currently invest from their second fund.
23. Tilia Impact Ventures
Region focus: CEE region
Industry focus: Climate, Health, Inclusion, Education
Ticket size: Undisclosed
Managing partners: Silke Horáková, Petr Vítek
Notable investments: Datlab, MIWA Technologies
As the first social impact fund in the Czech Republic, Tilia Impact Ventures focuses on building social enterprises with sustainable and scalable business models aligned with significant societal impact. The venture capital fund focuses on pre-seed and seed investments and provides business, management, and impact consulting.
24. UP271
Region focus: Czech Republic, Europe
Industry focus: Agnostic
Ticket size: Undisclosed
Managing partner: Petra Cihlářová
Notable investments: Spaceflow, NutritionPro
UP271 invests in companies and startups from various industries united by the desire to have a positive global impact. UP271 continues the history of UP21 and Byznys 21 companies. They have invested nearly €40M in their projects, providing them with an additional hands-on approach from the beginning.
25. Y Soft Ventures
Region focus: CEE region
Industry focus: B2B, IoT, Cybersecurity, Big Data & Analytics, Augmented & Virtual Reality
Ticket size: Undisclosed
Managing partner: Miloš Sochor
Notable investments: Dronetag, VRgineers
Y Soft Ventures is a corporate arm of a multinational Czech hardware & software company Y Soft, investing in people who build innovative B2B startups with global potential. They provide their portfolio companies with capital, resources, and expertise to accelerate their entry into global markets.
26. ZAKA VC
Region focus: DACH, Baltics, CEE regions
Industry focus: Agnostic
Ticket size: Undisclosed
CEO: Natalia Mikusova
Notable investments: GitGut, Readmio
ZAKA is a family venture house backing pre-seed and seed companies using private money. Having already invested over €30M, they focus on long-term support of over 12 years as they don’t have a typical fund structure and investment periods.
