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Top 15 Energy VC Funds & Investors in Bulgaria (August 2026)

The most active venture capital funds investing in Bulgaria Energy startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Bulgaria Energy startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Eleven Ventures
VC Fund
2 Bulgaria, United States, United Kingdom Seed, Convertible Note, Pre-Seed Software, SaaS, Information Technology $27k–$2.7M
Urban Impact Ventures
VC Fund
1 The Netherlands, United States, Bulgaria Seed, Pre-Seed Information Technology, SaaS, Energy $655k–$5.3M
BlackPeak Capital
VC Fund
1 Bulgaria, United States, France Private Equity, Series B, Seed Manufacturing, Leisure, Software $464k–$50M
Impetus Capital
VC Fund
1 Bulgaria, United States, India Seed, Pre-Seed Information Technology, Software, SaaS $121k–$3M
BMW i Ventures
VC Fund
1 United States, Germany, Canada Series B, Series A Software, Automotive, Information Technology $7M–$68M
American University in Bulgaria
VC Fund
1 Bulgaria Seed Farming, Organic, Agriculture
European Bank for Reconstruction and Development
VC Fund
1 Turkey, Egypt, Ukraine Debt Financing, Post-IPO Debt, Private Equity Financial Services, Banking, Energy $5M–$320M
NAP
VC Fund
1 Germany, Ireland, United Kingdom Seed, Pre-Seed, Series A Software, Artificial Intelligence, Information Services $1.3M–$30M
Cherry & Cake Investment
VC Fund
1 Bulgaria Seed Software, Marine Technology, Environmental Engineering
EMHS USA INC
VC Fund
1 Bulgaria Seed Software, Marine Technology, Environmental Engineering
LAUNCHub Ventures
VC Fund
1 Bulgaria, United Kingdom, United States Seed, Series A, Pre-Seed Software, Artificial Intelligence, SaaS $55k–$59M
Masdar
VC Fund
1 Spain, Bulgaria, Indonesia Corporate Round, Secondary Market, Pre-Seed Energy, Solar, Oil and Gas
Karoll
VC Fund
1 Bulgaria Venture - Series Unknown Energy, GreenTech
MFG Invest
VC Fund
1 Bulgaria, United Kingdom, France Seed, Pre-Seed, Venture - Series Unknown Software, Information Technology, FinTech $110k–$6.8M
Vitosha Venture Partners
VC Fund
1 Bulgaria, United States, United Kingdom Pre-Seed, Seed Software, Marketplace, Information Technology
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Investor list

Eleven Ventures
VC Fund · Sofia, Grad Sofiya, Bulgaria · 2 investments in Bulgaria Energy startups

We empower local heroes to build global success. Eleven is an early-stage VC investing in technology companies in Southeast Europe.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Seed, Convertible Note, Pre-Seed
  • Geography: Bulgaria, United States, United Kingdom

Investor stats

  • Total investments: 149
  • Round size: Seed $27k–$2.7M; Pre-Seed $219k–$1.1M; Convertible Note $27k–$121k
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — raised $68M in 2022

Portfolio highlights

  • Flataway.ai — Flataway - the home of subscription living. Live & work from anywhere in a trusted proffessionally managed accomodation.
  • nFuse.ai — nFuse scales your B2B sales with AI. Up to 30% revenue uplift, $1 per order processing cost, live in 30 days. No new apps, no behavior change.
  • Blue Longevity — Blue Longevity is a supplier of longevity medicine that offers evidence-based, individualized, and integrated approaches to improve longevity and encourage good aging. It uses digital coaching in conjunction with state-of-the-art diagnostics, lifestyle medicine, and regenerative therapies to develop customized workout, stress-reduction, and dietplans.
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Urban Impact Ventures
VC Fund · Rotterdam, Zuid-Holland, The Netherlands · 1 investments in Bulgaria Energy startups

At Urban Impact Ventures we combine creative financial structuring and innovative technology to improve the urban quality of life in Europe.

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Investment focus

  • Industry: Information Technology, SaaS, Energy
  • Stage:Seed, Pre-Seed
  • Geography: The Netherlands, United States, Bulgaria

Investor stats

  • Total investments: 11
  • Round size: Seed $655k–$5.3M
  • Lead/follow: 55% lead, 45% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • BIYU — Manage every asset through its full lifecycle. Rental, subscription, returns, refurbishment and relisting, in one platform.
  • uIMPACT — Best ESG screening software for Startups and Investors. Measure your impact through the Sustainable development goals and receive expert advice. Start now with uIMPACT
  • IBIS Power — Nederlandse technologische innovatie in duurzame oplossingen voor lokale energie-opwek op daken van vastgoed. Bekend van het gepatenteerde PowerNEST: zonne-energie en windenergie gecombineerd door windturbines in een aerodynamisch geoptimaliseerd nest van zonnepanelen.
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BlackPeak Capital
VC Fund · Sofia, Grad Sofiya, Bulgaria · 1 investments in Bulgaria Energy startups

BlackPeak Capital is a co-investment growth equity fund focused on investing in high-growth Southeast European small and medium enterprises. BlackPeak Capital is funded by the European Investment Fund, part of the European Investment Bank, through the JEREMIE initiative for support of the SME enterprises in Bulgaria.We invest in equity,mezzanine, and other forms of hybrid capital to support the investment plans of dynamic regional companies. As a co-investment fund, BlackPeak Capital invests alongside other private institutional or individual investors on pari-passu terms. Our target investment ticket is between €1-8 million per transaction.

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Investment focus

  • Industry: Manufacturing, Leisure, Software
  • Stage:Private Equity, Series B, Seed
  • Geography: Bulgaria, United States, France

Investor stats

  • Total investments: 21
  • Round size: Seed $464k–$549k; Series B $7.7M–$50M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: Likely still investing — raised $147M in 2022

Portfolio highlights

  • Alcatraz AI — The Rock is an all-in-one touchless biometric access control device that combines facial biometrics, AI, and machine learning for top-notch security.
  • Fasal — We develop materials & products made from renewable resources!
  • Affinity Life Care — Affinity Life Care is the private provider of elderly care residences in Romania, operating several centers in central Bucharest with a capacity of over 400 authorized beds. These facilities offer a range of accommodation options, from single rooms to shared arrangements, all designed to be comfortable, accessible, and suitable for seniorsrequiring either long-term care or assisted living.
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Impetus Capital
VC Fund · Sofia, Grad Sofiya, Bulgaria · 1 investments in Bulgaria Energy startups

Early stage venture capital fund partnering with founders at Seed and Series A stage. We are not simply the next investor who sends you money and shows up at board meetings. Our team seeks to empower you throughout your journey with actionable, game-changing support.

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Investment focus

  • Industry: Information Technology, Software, SaaS
  • Stage:Seed, Pre-Seed
  • Geography: Bulgaria, United States, India

Investor stats

  • Total investments: 25
  • Round size: Seed $121k–$3M; Pre-Seed $163k–$1.8M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: May invest from a new fund soon — raised $1.4M in 2019

Portfolio highlights

  • GlycanAge — The only biological age test that accurately measures your unique response to life changes. Discover your biological age and make lifestyle improvements!
  • Tiger Technology — Turn storage into competitive advantage with Tiger Bridge. Cut costs 60%, improve utilization 10X, seamless cloud extension without changing workflows.
  • Crackle Technologies — Crackle Technologies is a vibrant digital publisher ecosystem which is essential for a healthy and useful internet.
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BMW i Ventures
VC Fund · Mountain View, California, United States · 1 investments in Bulgaria Energy startups

We operate with the speed and rigor of a Silicon Valley VC firm, while leveraging the value-add of BMW as a corporate partner

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Investment focus

  • Industry: Software, Automotive, Information Technology
  • Stage:Series B, Series A
  • Geography: United States, Germany, Canada

Investor stats

  • Total investments: 146
  • Round size: Series A $7M–$50M; Series B $14M–$68M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: May invest from a new fund soon — raised $300M in 2021

Portfolio highlights

  • GenXComm — GenXComm's Cellular Mesh-Based Technology for Public and Private Networks Offers Complete On-Site Coverage: Easy to Deploy, Fully Secure, & Highly Scalable
  • Vera — Digital Guardian Secure Collaboration (formerly Vera) enables zero-trust security for sensitive data, enabling organizations to protect any file, anywhere.
  • Plus One Robotics — The fastest and most reliable parcel handing robotics solutions in your warehouse.
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American University in Bulgaria
VC Fund · Blagoevgrad, Blagoevgrad, Bulgaria · 1 investments in Bulgaria Energy startups

AUBG offers excellent U.S. education at a competitive price, with outstanding alumni success worldwide. AUBG is accredited both in the U.S. and in Bulgaria

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Investment focus

  • Industry: Farming, Organic, Agriculture
  • Stage:Seed
  • Geography: Bulgaria

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Verdere — Verdere is an indoor vertical farm that grows and delivers microgreens exclusively to restaurants. The entire procedure is highly sustainable and environmentally friendly.
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European Bank for Reconstruction and Development
VC Fund · London, England, United Kingdom · 1 investments in Bulgaria Energy startups

The European Bank for Reconstruction and Development (EBRD) invests in changing lives. Through our financial investments, business services and work on policy reform, we're doing more than ever before to build open, market economies across 3 continents.

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Investment focus

  • Industry: Financial Services, Banking, Energy
  • Stage:Debt Financing, Post-IPO Debt, Private Equity
  • Geography: Turkey, Egypt, Ukraine

Investor stats

  • Total investments: 472
  • Round size: Post-IPO Debt $17M–$320M; Debt Financing $5M–$211M; Private Equity $11M–$100M
  • Lead/follow: 76% lead, 24% follow

Portfolio highlights

  • İşbank — İşbank is a Turkish commercial banking service provider.
  • Mlinar — Mlinar is the bakery retail and wholesale business in Croatia and operates the largest bakery retail network in South East Europe.
  • National Bank of Greece — The term i-bank adopted in April 2009 as a single name for all electronic service networks of the National Bank (Internet, Phone & Mobile Banking, ATM and Automated Payment -APS).Through the site of i-bank participate in contests with great prizes , learn the latest news from the world of technology , innovation and entrepreneurship and youthinformed about events in the i-bank store and the latest developments of the Contest «i -bank Innovation & Technology " .
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NAP
VC Fund · Berlin, Berlin, Germany · 1 investments in Bulgaria Energy startups, 11 in the past 12 months

The Expert Founders Fund

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Services
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Germany, Ireland, United Kingdom

Investor stats

  • Total investments: 66
  • Round size: Seed $2.6M–$6.5M; Pre-Seed $1.3M–$5.9M; Series A $12M–$30M
  • Lead/follow: 42% lead, 58% follow

Portfolio highlights

  • Almetra — We use computer vision and AI analytics to provide insights into manual assembly processes - our platform supports process engineers in driving productivity and quality of assembly processes
  • Zalera — Zelara is an AI lifecycle system that works on top of your CRM stack to increase customer activation, retention, and lifetime value.
  • SPREAD AI — SPREAD AI develops engineering intelligence software that enables organizations to unify, analyze, and act on complex product data across the entire product lifecycle. The company provides a platform that aggregates structured and unstructured data from systems such as engineering tools, production systems, and documentation into a single,connected data layer. Its core technology creates a “product twin,” a graph-based representation that models how mechanical, electrical, and software components interact within a product. This allows engineering teams to understand dependencies, assess the impact of changes, and make informed decisions based on a complete view of product behavior.SPREAD AI integrates with existing enterprise systems rather than replacing them, acting as a layer that connects data sources and enables real-time analysis and workflow automation. It also provides customizable applications and low-code tools that allow teams to build domain-specific solutions tailored to their engineering needs. The platform incorporates artificial intelligence and automation capabilities, including AI agents that assist with tasks such as data mapping, validation, troubleshooting, and requirements analysis. These tools help reduce manual work and enable faster resolution of engineering issues across development, production, and aftersales processes.
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Cherry & Cake Investment
VC Fund · Varna, Varna, Bulgaria · 1 investments in Bulgaria Energy startups

Group for investing in startups at early stage

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Investment focus

  • Industry: Software, Marine Technology, Environmental Engineering
  • Stage:Seed
  • Geography: Bulgaria

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • EMH Systems — EMH Systems specializes in software solutions for marine environmental operations within the Maritime industry as well as producing geodata including maritime boundaries and limits on a global scale.
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EMHS USA INC
VC Fund · Bellmore, New York, United States · 1 investments in Bulgaria Energy startups

C-corp holding interest

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Investment focus

  • Industry: Software, Marine Technology, Environmental Engineering
  • Stage:Seed
  • Geography: Bulgaria

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • EMH Systems — EMH Systems specializes in software solutions for marine environmental operations within the Maritime industry as well as producing geodata including maritime boundaries and limits on a global scale.
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822 industries, 177 countries. Updated daily. Emails and phones included.

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LAUNCHub Ventures
VC Fund · Sofia, Grad Sofiya, Bulgaria · 1 investments in Bulgaria Energy startups

Seed-stage VC fund for Central and Eastern Europe. 90+ companies backed.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Bulgaria, United Kingdom, United States

Investor stats

  • Total investments: 149
  • Round size: Seed $55k–$3.5M; Pre-Seed $183k–$2.8M; Series A $2.9M–$59M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $82M in 2021

Portfolio highlights

  • nFuse.ai — nFuse scales your B2B sales with AI. Up to 30% revenue uplift, $1 per order processing cost, live in 30 days. No new apps, no behavior change.
  • OfficeRnD — OfficeRnD helps flex space operators and hybrid teams manage the workplace of the future. Book your demo or start a free 14-day trial.
  • Nanogram — Nanogram is an AI-powered gaming startup that creates an instant prompt-to-game platform, allowing anyone to build and share interactive short-form video games. Frequently described as "TikTok for mobile games," the company delivers an endless, vertical social feed of byte-sized, zero-download games that players swipe through and playinstantly.
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Masdar
VC Fund · Abu Dhabi, Abu Dhabi, United Arab Emirates · 1 investments in Bulgaria Energy startups

Masdar is a renewable energy manufacturer that develops utility-scale renewable energy projects. At Masdar, they are staunch backers of the UAE's shift towards a knowledge-intensive economy. The company's goal is to exemplify the commercial adoption of clean technologies and to represent the UAE’s broader dedication to sustainablepractices.

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Investment focus

  • Industry: Energy, Solar, Oil and Gas
  • Stage:Corporate Round, Secondary Market, Pre-Seed
  • Geography: Spain, Bulgaria, Indonesia

Investor stats

  • Total investments: 7
  • Lead/follow: 86% lead, 14% follow

Portfolio highlights

  • Repsol — Repsol USA is a company that integrated oil and gas prospection in the World. The most important company in gas and oil exploration. See more here.
  • Repsol-Renewable Energy Portfolio — Repsol-Renewable Energy Portfolio is a hybrid energy operational asset of Repsol.
  • Round-the-Clock renewable energy project — Round-the-Clock renewable energy project is a hybrid power system to deliver uninterrupted electricity 24/7.
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Karoll
VC Fund · Sofia, Grad Sofiya, Bulgaria · 1 investments in Bulgaria Energy startups

Karoll offers a wide range of financial products and services that include asset management, insurance, land banking, and equity financing.

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Investment focus

  • Industry: Energy, GreenTech
  • Stage:Venture - Series Unknown
  • Geography: Bulgaria

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Hydrogenera — Hydrogenera specializes in the development of hydrogen technologies.
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MFG Invest
VC Fund · Sofia, Grad Sofiya, Bulgaria · 1 investments in Bulgaria Energy startups

MFG Invest was established by a group of angel investors with the goal of financing venture capital.

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Investment focus

  • Industry: Software, Information Technology, FinTech
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Bulgaria, United Kingdom, France

Investor stats

  • Total investments: 20
  • Round size: Seed $549k–$6.8M; Pre-Seed $110k–$901k; Venture - Series Unknown $485k–$2.2M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Paypercut — Paypercut is a fintech startup that allows small and mid-scaled merchants to offer Buy Now, Pay Later at checkout via a single integration.
  • Native Teams — Hire anyone, anywhere with Native Teams. Use EOR and PEO services to employ global talent or get compliant employment as a freelancer.
  • Tiger Technology — Turn storage into competitive advantage with Tiger Bridge. Cut costs 60%, improve utilization 10X, seamless cloud extension without changing workflows.
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Vitosha Venture Partners
VC Fund · Sofia, Grad Sofiya, Bulgaria · 1 investments in Bulgaria Energy startups, 10 in the past 12 months

Vitosha is a EUR 26m early-stage VC fund investing in innovative businesses in Bulgaria

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Investment focus

  • Industry: Software, Marketplace, Information Technology
  • Stage:Pre-Seed, Seed
  • Geography: Bulgaria, United States, United Kingdom

Investor stats

  • Total investments: 24
  • Lead/follow: no public data

Portfolio highlights

  • SoCyber — SoCyber provides services in the field of Information and Communication Technology, specializing in Cybersecurity services. The main business lines are security as a service, penetration testing, vulnerability assessment, and IT audits. After being a successful service company for several years, SoCyber developed a holistic vulnerability managementsolution "Kikimora.io" that makes the vulnerability management process centralised, transparent and easy to follow and understand. It enables companies to prioritise the remediation of vulnerabilities and address their security issues in a timely manner. The solution saves companies time and money by eliminating the need for repeated security testing that shows the same vulnerabilities.
  • Vodoraslo — Vodoraslo believes that everyone deserves better air quality, so by mixing innovation, design, and nature, we can create multiple positive impact solutions.
  • AIOT Cloud — Enabling businesses to be energy efficient while optimizing costs
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Energy VC funding in Bulgaria at a glance

Stats across 37 deals from 35 investors.

35
investors
in Bulgaria Energy startups
37
deals
in Bulgaria Energy startups
$549k
median round
in Bulgaria Energy startups
54%
lead investors
lead at least one round
30%
Pre-Seed
most common funding stage

Access all 35 VC funds in Bulgaria Energy startups.

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