Search for...

LAUNCHub Ventures with second closing of its €70M fund, IFC joins the limited partners list

LAUNCHub Ventures team
Image credit: LAUNCHub Ventures
, ~

Sofia-based venture capital firm LAUNCHub Ventures has announced the second closing of its new, CEE-oriented fund.

IFC, part of the World Bank, has committed €15M and will co-invest in LAUNCHub Ventures portfolio companies up to another €15M. In addition to IFC, the VC firm has attracted supplementary commitments from private individuals from Bulgaria and the SEE region.

“We are particularly excited to have the support of a large community of founders and entrepreneurs” adds Stephane Gantchev, partner at LAUNCHub Ventures. “We’ve attracted as investors more than 20 successful founders from Bulgaria and the region who have committed €5M+ in this new fund, and a large part of them are successful founders who have formerly raised funding from LAUNCHub Ventures. This is a great sign of recognition and mutual respect, and we are happy to continue to collaborate together.”

With these latest capital commitments, LAUNCHub Ventures’s third fund has now almost reached its original target size of €70M. Part of the money will be allocated for first-time investments in 25 Seed/ Series A startups from Central and Eastern Europe, with the rest being reserved for follow-on rounds in portfolio companies. The standard ticket size is between €500K and €2M.

Several companies with roots in Eastern Europe have already benefited from the new fund. These count Greek ferry booking platform FerryHopper, Romanian fintech digital infrastructure provider FintechOS, Latvian developer of robotic cameras for real estate Giraffe360, and online community automation startup Orbiit, which has a Bulgarian co-founder.

LAUNCHub Ventures’ previous investments have also generated good traction in 2021 – the first half of the year counts two exits, two Series B rounds of portfolio companies and more big news to be announced soon. Find out more about these deals on the links below.

Bulgarian live sports streaming platform FITE gets acquired in one of the biggest exits for the local ecosystem

FintechOS to accelerate the digitalization of more banks and insurers around the world after a $60M Series B round

US-Bulgarian OKR platform Gtmhub closes a $30M Series B round

LeanIX acquires SaaS management provider with Slovenian roots

Tags:

Help us shine a light on the emerging innovation hubs in Southeast Europe

Every single contribution of yours helps us guarantee our independence and sustainable future. With your financial support, we can keep on providing constructive reporting on the developments in the region and give even more global visibility to our emerging innovation destination.

Thanks for shaping the story of the SEE entrepreneurial ecosystem together with us!

Monthly donation

In the next year, you’ll help us:

💡 €7: Establish The Recursive as an independent platform for innovation journalism

💡 €25: Produce more engaging videos showcasing local innovators

💡 €35: Develop more channels for international distribution of local stories

💡 €50: Recruit reporters covering the local developments in several more cities in SEE

💡 €100: Train and educate young innovation journalists and content creators

One-time donation

You can also support The Recursive’s mission with a pick-any-amount, one-time donation. 👍

Etien Yovchev is a co-founder and Chief Editor at The Recursive, online media dedicated to the emerging tech and startup ecosystems in Southeast Europe. He has told the stories of over 200 ventures from the region and aims to provide high-quality constructive reporting on the progress of the SEE innovation ecosystem, making sure that the stories of promising local founders reach global audiences. Etien holds a MSc degree in Innovation Management from RSM, Erasmus University Rotterdam and has more than 4 years of experience in the commercialization of new products, having worked with many early-stage companies and a few corporate innovation departments across Bulgaria, The Netherlands, and the USA.