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20+ Czech Early-Stage VC Funds You Should Know Before Your First Fundraising

hand with coins giving money to a jar with a Czech flag as a symbol of VC funds investment in Czech Republic
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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 this year, 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 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. 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.

Read more:  With €150M UNIQA Ventures seeks to find the next unicorns in Central and Eastern Europe

 

3. 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.

 

4. 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.

 

5. 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.

 

6. 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.

 

7. 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.

 

8. 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).

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9. 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.

 

10. 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.

 

11. 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.

 

12. 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.

 

13. 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.

 

14. 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.

Read more:  Startups from Southeast Europe have raised over $1.2B in the first half of 2021, more big rounds coming

 

15. 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.

 

16. 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.

 

17. 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.

 

18. 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.

 

19. 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.

 

20. ZAKA

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.

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