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South Central Ventures announces new €70M technology fund to help Western Balkans’ startups reach global markets

South Central Ventures continues to invest in the Western Balkans early stage tech start-ups and help them tackle global markets.
Image credit: South Central Ventures
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Regional venture capital fund manager South Central Ventures (SCV) announced a new € 70M worth technology fund. With offices in Ljubljana, Zagreb, Belgrade and Skopje, South Central Ventures says it will continue to invest in the Western Balkans early stage tech start-ups and help them tackle global markets.

Over the past few years, the fund invested in around 30 seed and early stage companies across the region. SCV’s previous amount of funds was €40M.

“With the new fund we will continue to look for and invest in future technology winners, companies with strong presence in the Balkans, but international focus and ambition, to help them scale globally,” South Central Ventures managing partner Tatjana Zabasu Mikuž said.

SCV’s initial investment ticket starts at €500K and can reach a total of up to €5M per company over their entire funding cycle.The fund has invested in verticals such as Adtech, Agritech and SaaS, targeting start-ups that have a developed product and need funds for faster development and accelerated growth.

SCV’s key investments from the region include companies such as sales intelligence provider Cognism and video monetization platform InPlayer, withfounders from North Macedonia, as well as Serbian people analytics platform Orgnostic.

Notable support from EIF and EBDR

SCV’s new fund is also supported by the European Investment Fund (EIF) and the European Bank for Reconstruction and Development (EBRD).

 “Accelerating the digital transition is an important priority for the EBRD and South Central Ventures has been a valuable partner in developing the Southeast European innovation ecosystem,” EBRD’s associate director for private equity and venture capital funds Michael Parry said.

SCV’s team in Belgrade is also joined by experienced entrepreneur Goran Stevanovic, who is bringing 20 years of experience in the software industry to the team.

“Technology sector has an opportunity to fundamentally transform our region and for global success we need more local start-ups. With its unique position the South Central Ventures team can become a catalyst for this change, which is why I decided to join,” Stevanovic added.

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Bojan is The Recursive’s Western Balkans Editor, covering tech, innovation, and business for more than a decade. He’s currently exploring blockchain, Industry 4.0, AI, and is always open to covering diverse and exciting topics in the Western Balkans countries. His work has been featured in global media outlets such as Foreign Policy, WSJ, ZDNet, and Balkan Insight.