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Top 15 Energy VC Funds & Investors in Bulgaria (October 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
4 Bulgaria, United States, United Kingdom Seed, Convertible Note, Pre-Seed Software, Information Technology, E-Commerce $28k–$2.3M
Vitosha Venture Partners
VC Fund
1 Bulgaria, United States, United Kingdom Pre-Seed, Seed Software, Marketplace, Information Technology
European Bank for Reconstruction and Development
VC Fund
1 Turkey, Egypt, Ukraine Debt Financing, Post-IPO Debt, Private Equity Financial Services, Banking, Manufacturing $5.1M–$369M
EMHS USA INC
VC Fund
1 Bulgaria Seed Software, Marine Technology, Environmental Engineering
MFG Invest
VC Fund
1 Bulgaria, United Kingdom, France Seed, Pre-Seed, Venture - Series Unknown Software, Information Technology, FinTech $110k–$6.8M
Cherry & Cake Investment
VC Fund
1 Bulgaria Seed Software, Marine Technology, Environmental Engineering
NAP
VC Fund
1 Germany, United Kingdom, Ireland Seed, Series A, Pre-Seed Software, Information Technology, SaaS $1M–$30M
Masdar
VC Fund
1 Spain, Bulgaria, Indonesia Corporate Round, Secondary Market, Pre-Seed Energy, Solar, Oil and Gas
Urban Impact Ventures
VC Fund
1 The Netherlands, United States, Bulgaria Seed, Pre-Seed Information Technology, SaaS, Energy $655k–$5.3M
Impetus Capital
VC Fund
1 Bulgaria, United States, India Seed, Pre-Seed, Convertible Note Information Technology, Software, SaaS $117k–$3M
American University in Bulgaria
VC Fund
1 Bulgaria Seed Farming, Organic, Agriculture
BMW i Ventures
VC Fund
1 United States, Germany, Canada Series B, Series A, Series C Software, Automotive, Manufacturing $7M–$111M
LAUNCHub Ventures
VC Fund
1 Bulgaria, United Kingdom, United States Seed, Series A, Pre-Seed Software, Artificial Intelligence, SaaS $54k–$22M
BlackPeak Capital
VC Fund
1 Bulgaria, United States, United Kingdom Private Equity, Series B, Seed Manufacturing, Software, Retail $510k–$50M
Karoll
VC Fund
1 Bulgaria Venture - Series Unknown Energy, GreenTech
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Investor list

Eleven Ventures
VC Fund · Sofia, Grad Sofiya, Bulgaria · 4 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, Information Technology, E-Commerce
  • Stage:Seed, Convertible Note, Pre-Seed
  • Geography: Bulgaria, United States, United Kingdom

Investor stats

  • Total investments: 195
  • Round size: Seed $28k–$2.3M; Pre-Seed $55k–$1.1M; Convertible Note $28k–$120k
  • Lead/follow: 33% lead, 67% 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 — Expert care for a healthier, longer life. Opening soon Athens | Istanbul | Sofia
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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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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, Manufacturing
  • Stage:Debt Financing, Post-IPO Debt, Private Equity
  • Geography: Turkey, Egypt, Ukraine

Investor stats

  • Total investments: 498
  • Round size: Post-IPO Debt $17M–$369M; Debt Financing $5.1M–$225M; Private Equity $15M–$100M
  • Lead/follow: 76% lead, 24% follow

Portfolio highlights

  • Infinity Power — Infinity Power is the largest African renewable energy company, offering innovative solutions in solar power, wind energy, and low-carbon hydrogen technologies. Discover our projects and commitment to sustainable energy solutions.
  • Yapı ve Kredi Bankası — Yapi Kredi Bankasi, established in 1944, is one of the first nationwide private banks in Turkey. It is engaged in credit cards, assets management, non-cash loans, leasing, factoring, private pension funds and non-life insurance. It is 80% owned by Koc Finansal Hizmetler (KFH), whose combined financial services network consists of over 13 millioncustomers and 835 branches in Turkey.Yapi Kredi was acquired by Mehmet Emin Karamehmet's Çukurova Holding in 1984. In 2003, Çukurova Holding reached an agreement with the Turkish bank regulator to sell the majority of its shares in Yapi Kredi within two years. In 2005, the majority of shares in Yapi Kredi was acquired by the owners of Koçbank. Koç Finansal Hizmetler (KFH) was an equal partnership between Koç Holding and Italian banking giant, Unicredit. In 2006, Koçbank was merged into Yapı Kredi, leaving 80% of Yapi Kredi owned by KFS.
  • European Metals Holdings — European Metals Holdings is a mineral exploration and development company engaged in the exploration of tin and base metals. The Company is primarily involved in the development of a lithium and tin project in the Czech Republic.
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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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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: 21
  • Round size: Seed $567k–$6.8M; Pre-Seed $110k–$901k; Venture - Series Unknown $485k–$2.2M
  • Lead/follow: 29% lead, 71% 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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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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NAP
VC Fund · Berlin, Berlin, Germany · 1 investments in Bulgaria Energy startups

Cavalry is an early-stage venture capital investor focused on European technology companies.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Germany, United Kingdom, Ireland

Investor stats

  • Total investments: 95
  • Round size: Seed $1.6M–$6.3M; Pre-Seed $1M–$6.2M; Series A $4.5M–$30M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • AMPECO — Launch, optimize, and scale EV charging operations with AMPECO's enterprise-grade, AI-native platform. White-label, hardware-agnostic, built for CPOs and eMSPs.
  • UniteLabs — UniteLabs provides the foundational operating system for AI-driven lab automation in life science. It accelerates scientific discovery by closing the loop with a unified data and automation infrastructure, seamless integration, and intelligent control. Our platform empowers ambitious biotech companies, big pharma, integrators, and hardware vendorsby offering bidirectional connectors for diverse lab equipment, a scalable cloud platform with an open API, and a powerful workflow engine with an integrated compute environment. This allows for the creation of sophisticated, modular workflows, and enables rapid automation development through our Lab-as-Code environment, featuring a dynamic Python SDK and application-specific libraries.
  • beSirius — beSirius transforms ESG chaos into clarity - connecting your data to spot trends, reveal revenue signals, and answer any stakeholder in minutes. Smarter decisions, faster deals, zero admin drain.
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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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Urban Impact Ventures
VC Fund · Rotterdam, Zuid-Holland, The Netherlands · 1 investments in Bulgaria Energy startups

A Dutch impact venture capital investor on a mission to improve urban quality of life, with a focus on decarbonization and circularity.

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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 — BIYU offers rental equipment services for gardening, party, cleaning, and the kitchen.
  • 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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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, Convertible Note
  • Geography: Bulgaria, United States, India

Investor stats

  • Total investments: 26
  • Round size: Seed $117k–$3M; Pre-Seed $163k–$1.8M; Convertible Note $242k–$2.6M
  • Lead/follow: 38% lead, 62% 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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822 industries, 177 countries. Updated daily. Emails and phones included.

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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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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, Manufacturing
  • Stage:Series B, Series A, Series C
  • Geography: United States, Germany, Canada

Investor stats

  • Total investments: 151
  • Round size: Series A $7M–$50M; Series B $15M–$68M; Series C $19M–$111M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely actively investing — fresh fund, raised $300M in 2026

Portfolio highlights

  • Kanu AI — Enterprises are setting ambitious engineering goals as AI coding agents become mainstream - but teams are already hitting a ceiling. Existing agents still require engineers to guide them one project at a time, and they can’t operate inside your AWS, GCP, or Azure environment, leaving deployment, testing, and infra integration as manual work. KanuAI solves this by running inside your cloud accounts - building, deploying, and validating application and cloud infrastructure autonomously. Engineers provide architectural input, enabling Kanu to learn from their decisions and align with your workflows. This lets a single engineer oversee 10+ projects at once.
  • KredosAI — Our human centered AI platform drives real engagement with consumers leading to positive payment outcomes for enterprises.
  • Featherless.ai — Freedom to reliably deploy any open model effortlessly. Unlimited tokens for 30K+ models. Open-source jev models on https://t.co/HVsStpj1i3
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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: 158
  • Round size: Seed $54k–$3.4M; Pre-Seed $216k–$2.8M; Series A $4.4M–$22M
  • Lead/follow: 20% lead, 80% follow
  • Last fund: May invest from a new fund soon — raised $85M 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.
  • Veridion — Veridion is a living digital replica of the business world. Decision-grade data for enterprise scale systems
  • 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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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, Software, Retail
  • Stage:Private Equity, Series B, Seed
  • Geography: Bulgaria, United States, United Kingdom

Investor stats

  • Total investments: 21
  • Round size: Seed $510k–$624k; Series B $8.7M–$50M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: Likely still investing — raised $132M 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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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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Energy VC funding in Bulgaria at a glance

Stats across 43 deals from 37 investors.

37
investors
in Bulgaria Energy startups
43
deals
in Bulgaria Energy startups
$133k
median round
in Bulgaria Energy startups
54%
lead investors
lead at least one round
26%
Pre-Seed
most common funding stage

Access all 37 VC funds in Bulgaria Energy startups.

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