Venture Capital and Private Equity Principals in Bulgaria

Launchub Ventures

LAUNCHub Ventures is a leading early-stage venture capital fund backing technology startups at the Seed and Series A stages. We invest across Central and Southeastern Europe (CEE & SEE), as well as in founders from the region who build globally from major startup hubs around the world. Our initial investments range from €300K to €2M, with the ability to lead rounds up to €4M and continue supporting our portfolio as they grow. Beyond capital, we bring hands-on support, strategic insight, and deep regional experience to help teams turn momentum into lasting impact. Through our Series A Academy, we help founders prepare for the next leap – building the traction, structure, and investor readiness needed to raise their next round. At LAUNCHub Ventures, we don’t just fund companies. We back conviction – founders who go beyond what’s expected. Since 2012, we’ve been shaping the CEE startup ecosystem – and today, we’re excited to see some of Europe’s and the US’s top VC firms follow our investments.

1 to 10 staff

Bulgarian Angels Club

Bulgarian Angels Club (ex-CEO Angels Club) is a group of senior executives and entrepreneurs related to Bulgaria investing their own money in early stage startups in return for equity. Our members make their own investment decisions and they can invest together or individually. They also provide expertise, contacts and pro-active mentorship to increase company value. The Club looks for early stage, normally post-accelerator startups that are highly scalable and that can show us how the company will get to break-even or to a clear meaningful mile stone (e.g.Seed or Series A.Funding) within 12-24 months on the basis of our one-time investment. This typically means smallish teams (2 to 5 people), with serious domain expertise and a product that is either currently in the market or already in beta.

1 to 10 staff

Impetus Capital

Impetus Capital is an independent alternative investment fund manager. Impetus invests in companies in early and growth stages with strong innovative patterns which create new demand or new business and operational models with superior offerings to their clients with no or limited competition in these markets. Impetus Capital leverages capital deployed with robust post-investment operational enhancement role, thus accelerating growth and value creation.

1 to 10 staff

Invenio Partners

Invenio Partners manages a private equity and growth equity fund focused on investments in Southeast Europe. We have experience in promoting and helping companies realize their full potential and enhance their performance by providing growth capital, strategic guidance, and operating support to strong management teams. We discover companies with a solid track record and potential for a leadership position in their respective industry with competitive business models and an experienced management team. The team brings together extensive international operating experience, expertise and deep industrial knowledge, along with a comprehensive understanding of SME strategic management and finance. We have a proven track-record of both investing in and managing companies in Bulgaria, including raising substantial amounts of money from a range of investors (high net worth individuals, banks, funds etc.) and completing exits to international strategic buyers. Playing vital role in helping companies achieve their potential, we uncover value by identifying great organizations and enhancing their performance by providing growth capital, strategic contribution and operating support to strong management teams.

1 to 10 staff

Neo Ventures

Neo Ventures is a permanent capital vehicle investing €500K to €5M in niche vertical markets: space infrastructure, security solutions for cyber & smart cities, and critical self-diagnostics tools. Neo funds and supports the founders in business planning, scaling operations, follow-on investments, making the best of each opportunity and dealing with hard situations. Neo's management team has backed more than 40 startups and exited 20 successfully.

1 to 10 staff

Sofia Angels Ventures

Sofia Angels Ventures is a € 13 million venture capital fund backed up by the European Investment Fund to co-invest alongside angels, family offices and other private investors and funds. We focus on technology startups at pre-seed & seed stage predominantly from Bulgaria, SEE & CEE countries but with a vision to operate around Europe and Globally. Sofia Angels Ventures is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.

1 to 10 staff

Hr Capital

Our long-lasting experience in traditional business, as well as the founding of the largest digital media group in the last 16 years makes us a very sought after partner for the innovative companies in Bulgaria and the region. We invest both in individual companies and in funds, which diversifies our portfolio and lowers the risk. We have many investments in companies and funds. Two of the fund’s investments are completely paid off, while the third one is at the commitment stage. We invest in companies, whose businesses can be significantly grown by us using our know-how, our team and access to different markets. Being a family media company we have significant knowledge in marketing and sales (sought after by many startups) and we are good at using the audience, which we reach for promotion of innovative goods and services.

1 to 10 staff

New Vision 3 Fund

New Vision 3 is a venture capital fund investing in early stage tech-enabled companies working at the forefront of innovation. Our vision is to be the preferred partner to visionary entrepreneurs who add value to the Bulgarian and regional economies. The fund is founded and managed by a seasoned team with a decade of joint track record in start-up and tech investments. We continuously support, commercialize and globalize the regional tech ecosystem. We support founders creating future industry trends in FinTech, AI, Blockchain and Shared Economy. New Vision 3 Fund is co-financed by the European Structural and Investment Funds under the Operational Programme for Innovation and Competitiveness 2014-2020 managed by the Fund of Funds in Bulgaria

1 to 10 staff

Shift

Venture accelerator and investment gateway focused on Europe, enabling determined, visionary startups, scaleups and forward-thinking investors through tailored, end-to-end services. Supporting founders become investment-ready, secure funding, and accelerate growth with expert advising, strategic fundraising, M&A support, and access to educational and support programs. For investors and VC funds, offers curated deal flow, co-investment opportunities, syndicate and portfolio management, and venture partner collaborations. With a focus on emerging markets and ambitious endeavours across tech sectors, the mission is to bridge the gap between innovation and capital - empowering transformative ventures and building a thriving, impact-driven innovation entrepreneurship ecosystem.

1 to 10 staff

Alfastar Ventures

Alfastar Ventures is the strategic architect of a new model for European deep-tech. We don't just invest; we build the ecosystem where enduring companies are forged. By integrating our evergreen fund, Alfastar Capital EuVECA, with our founder development engine, Innovatia Studio, we have created a superior structure for generating long-term value. We set the vision, provide the governance, and orchestrate the synergy between patient capital and systematic founder support. Our mission is to build the premier platform for creating the next generation of European technology champions. Send us your: pitch@alfastar.ventures

1 to 10 staff

Jm.Capital

Private Investment Holding

1 to 10 staff

Silverline Capital

Silverline Capital is a private equity fund that provides mezzanine and equity financing solutions to outstanding mid-market businesses in Bulgaria. We look to invest our funds in proven and ambitious entrepreneurs and companies with a history of strong and sustainable competitive positions that have the potential to be industry leaders in their segments. We structure customized investment solutions for each company, depending on the business model, industry specifics, financial position, and growth strategy. Through our Fund we deploy mezzanine debt, convertible loans, and equity, and combinations thereof, providing the flexibility to invest across the capital structure. Silverline Capital was created by professionals with more than 85-years of combined experience that brings together a wealth of financial, operational, and industry expertise. Silverline Capital is financed by the Fund Manager of Financial Instruments in Bulgaria EAD under the operational program “Innovation and Competitiveness 2014-2020” and co-financed by the European Structural and Investment Funds.

1 to 10 staff

Battlepass Studio

BattlePass Studio is a startup studio that builds & grows new companies in the CEE region with a clear focus on the esports, gaming & entertainment industries.

11 to 50 staff

Innovation Capital

Venture capital fund focused on Pre-Seed (EUR and Seed (up to EUR funding rounds. We are sector agnostic with preference for scaleable and innovative business models.

1 to 10 staff

Telelink Investments

Investing in high impact businesses to shape a brighter future

1 to 10 staff

Vantage Best In Class Advisors

Vantage Best in Class was established to provide investors with the opportunity to tap into the fast-growing private education sector. Growing student enrolment numbers, increasing internationalization of education, robust pricing structures, predictable cash flows and high barriers to entry are keeping returns in this sector unusually high. And performance has proved to be remarkably resilient in the face of economic downturns, wars, and epidemics. With support from its investors, Vantage Best in Class aims to provide long-term financial and strategic support to education business operating in Europe, the Middle East and Africa. As a first step, it has partnered with Maple Bear Global Schools, the largest and fastest growing franchise of K-12 bilingual schools in the world in a €100 million investment program for the Central & Eastern European region.

1 to 10 staff

Clarion Ventures

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1 to 10 staff

Swift Capital

Helping startups to fundraise and reach their full potential. FOR INVESTORS: Discover Your Next Great Investment Opportunity with Us

1 to 10 staff

S4b - Startup Studio

1 to 10 staff

Black Sea Capital

Leading venture capital firm, founded 1996 in the sea capital of Bulgaria.Since then,we have created, invested in, and collaborated in numerous projects in the sectors of renewable energy,telecommunications,real estate and others. Our portfolio consists of logistic parks,warehouses,real estate,business centers and other assets on the territory of Bulgaria.

51 to 200 staff

Bulgarian Private Equity & Venture Capital Association - Bvca

The Bulgarian Private Equity and Venture Capital Association (BVCA) is the focal point of private investors, venture capital funds and the entrepreneurial community in Bulgaria. The Association will work alongside its members to improve the business environment and drive innovation and growth. BVCA is committed to popularizing the role of private investment as a reliable and sustainable source of funding for innovative start-ups in Bulgaria and the region. The Association will collect comprehensive data on investment activity in Bulgaria and communicate it with its members, the political and institutional communities, as well as with the general public. Giving voice to the venture community, BVCA will advocate on behalf of the industry to ensure sound public policy that encourages a favorable investment environment.

1 to 10 staff

Neo Gravity

With ever-increasing disposable income, Millennials and Gen Z consumers are the ones whose purchasing decisions will shape the future of the household expenditure basket. We have identified several key trends outlining the spending behavior of Millennial and Gen Z consumers in major household expenditure areas. Those trends cause massive shifts towards new products and services in rapidly growing micro-industries. We support brave Brands in novelty FMCG and Mobility!

1 to 10 staff

Eleven Ventures

Eleven is one of the leading early-stage VCs in South and Central Eastern Europe, investing in startups since 2012. With 170+ collective investments over 12 years, Eleven’s team has been instrumental in catalyzing the regional startup ecosystem. Eleven supports tech companies in four priority verticals - Fintech, Healthcare, Future of Work & AI, and Climate & Sustainability. Some of the startups that Eleven has backed include Payhawk, Dronamics, SMSBump, and Native Teams.

11 to 50 staff

Serdica Capital

A Bulgarian JSC, licensed by the Financial Supervision Commission (“FSC”) since 2022. The company is responsible for the setup, investment management, investor relations, administration, compliance and regulatory oversight and reporting services for three alternative investment funds: Equity Investment Fund Serdica, Debt Fund Serdica and Serdica Venture Capital Fund. The management team has extensive financial and capital markets expertise, track record covering all aspects of fund management – from fundraising and co-investments to origination, structuring, closing and management, incl. risk management. It managed some of biggest deals in the Bulgarian debt and equity capital markets. Serdica Capital is oriented towards growth and performance through the integration of knowledge, accountability and openness to new horizons. We provide also discretionary portfolio management services tailored according to individual customers’ requirements. We add value connecting businesses and capital, deliver tailored solutions to investors and use our wide personal network to take ideas international.

1 to 10 staff

Odc Ventures

ODC Ventures is a syndicate of experienced angel investors funding pre-eminent startups from CEE and beyond. We leverage our capital, expertise, and network to invest in high-growth ventures from Seed to Series A+, as well as select global pre-IPO opportunities. Our Focus: B2B SaaS, Enterprise Software, AI, E-commerce, Agri/Food Tech, Logistics & Transportation, HealthTech and FinTech.

1 to 10 staff

Cleverpine Ventures

CleverPine Ventures helps founders and entrepreneurs build companies that revolutionize the business world and lead the charge into a brighter future. We leverage our decades of expertise in the business consulting and software development industries and our long-term relationships with key decision-makers at numerous businesses to give our portfolio companies a crucial advantage, help them build credibility, and accelerate success.

1 to 10 staff

Darzalas Capital

1 to 10 staff