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Top 50 Startup Investors in Romania (October 2026)

The most active venture capital funds and angel investors investing in Romania startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Romania startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
SeedBlink
VC Fund
59 Romania, United States, United Kingdom Seed, Pre-Seed, Series A Software, SaaS, Information Technology $139k–$35M
GapMinder VC
VC Fund
44 Romania, United States, United Kingdom Seed, Pre-Seed, Series A Software, Artificial Intelligence, Information Technology $83k–$20M
Early Game Ventures
VC Fund
39 Romania, United States, United Kingdom Seed, Pre-Seed, Venture - Series Unknown Software, Artificial Intelligence, Information Technology $137k–$3.3M
Roca X
VC Fund
24 Romania, United Kingdom, Italy Seed, Pre-Seed, Convertible Note Software, Information Technology, SaaS $56k–$2.6M
Sparking Capital
VC Fund
10 Romania, United States, Czech Republic Seed, Pre-Seed SaaS, Internet, Software $330k–$2M
Gecad Ventures
VC Fund
10 Romania, United Kingdom, United States Seed, Series A, Pre-Seed Software, Payments, Information Technology $200k–$5.5M
THE Q AGENCY
VC Fund
9 Romania Seed, Pre-Seed Neuroscience, Analytics, Consulting $11k–$118k
Catalyst Romania
VC Fund
9 Romania, United Kingdom, Serbia Venture - Series Unknown, Seed, Series A Software, Retail, FinTech $1.1M–$6.1M
Fortech Investments
VC Fund
8 Romania, United States, Serbia Seed, Pre-Seed, Venture - Series Unknown Software, Artificial Intelligence, Big Data $147k–$1.2M
3TS Capital Partners
VC Fund
8 United States, Poland, Romania Series A, Venture - Series Unknown Software, SaaS, Information Technology $768k–$12M
Marius Istrate
Angel
7 Romania, United States, France Seed, Pre-Seed, Series A Artificial Intelligence, Software, Information Technology $442k–$22M
Underline Ventures
VC Fund
6 Romania, United States, Serbia Seed, Pre-Seed, Series A Software, Artificial Intelligence, Machine Learning $865k–$20M
Malin-Iulian Stefanescu
Angel
6 Romania, United States, United Kingdom Seed, Angel, Series A Software, Marketing, Internet $237k–$2M
Cleverage VentureCapital
VC Fund
6 Romania, Czech Republic, The Netherlands Seed, Convertible Note, Pre-Seed Health Care, SaaS, Big Data $79k–$1.7M
Marius Ghenea
Angel
5 Romania, United Kingdom, Serbia Series A, Venture - Series Unknown, Seed Software, SaaS, FinTech $569k–$5M
LAUNCHub Ventures
VC Fund
5 Bulgaria, United Kingdom, United States Seed, Series A, Pre-Seed Software, Artificial Intelligence, SaaS $41k–$22M
Day One Capital
VC Fund
5 Hungary, United States, Croatia Seed, Series A, Pre-Seed Software, Artificial Intelligence, Information Technology $500k–$27M
Growceanu Angel Investment
VC Fund
5 Romania, Luxembourg, United States Seed, Pre-Seed, Convertible Note Software, Artificial Intelligence, SaaS $154k–$1.2M
Sofia Angels Ventures
VC Fund
4 Bulgaria, United Kingdom, Germany Seed, Pre-Seed, Series A Software, Information Technology, Artificial Intelligence $108k–$11M
TechAngels
VC Fund
4 Romania, United Kingdom, Luxembourg Seed, Pre-Seed, Convertible Note Software, FinTech, Home Health Care $144k–$1.2M
The Mavers
VC Fund
4 Romania Seed, Pre-Seed Consulting, Health Care, Information Technology $141k–$442k
Hesham Zreik
Angel
4 United States, India, Nigeria Pre-Seed, Seed, Series A Information Technology, Software, E-Commerce $10k–$5M
Credo Ventures
VC Fund
4 United States, United Kingdom, Czech Republic Seed, Series A, Pre-Seed Software, Artificial Intelligence, Information Technology $385k–$19M
Leryon Holdings
VC Fund
4 Romania Debt Financing, Venture - Series Unknown SaaS, Public Safety, Law Enforcement $531k–$548k
Alfabeat
VC Fund
3 Poland, United States, United Kingdom Seed, Series A, Pre-Seed Software, Marketing, SaaS $199k–$15M
Ioan Alexandru Dragan
Angel
3 Romania Pre-Seed Aerospace, Drone Management, Smart Cities $100k–$414k
Neogen Capital
VC Fund
3 Romania, Greece, United Kingdom Pre-Seed, Seed Software, Information Technology, B2C $178k–$2M
Transylvania Angels Network
VC Fund
3 Romania, The Netherlands Seed Health Care, Information Technology, SaaS $154k–$1.2M
Hellen's Rock Capital
VC Fund
3 United States, Romania, United Kingdom Seed, Pre-Seed, Venture - Series Unknown Software, Fitness, SaaS $429k–$6.9M
Black Sea Trade & Development Bank
VC Fund
3 Greece, Ukraine, Turkey Debt Financing, Post-IPO Debt Financial Services, Energy, Banking $5.5M–$435M
MMC Ventures
VC Fund
3 United Kingdom, United States, France Seed, Series A, Series B Software, Artificial Intelligence, Machine Learning $1.4M–$54M
Andrei Bara
Angel
3 Romania, Germany, Ireland Seed, Pre-Seed Software, FinTech, Analytics $154k–$6.2M
Bianca Rusu
Angel
3 Romania, United Kingdom Pre-Seed, Equity Crowdfunding, Seed SaaS, Software, EdTech $149k–$628k
Oliver Hehl
Angel
3 Germany, Romania Angel, Seed, Pre-Seed Banking, FinTech, Financial Services $419k–$575k
European Bank for Reconstruction and Development
VC Fund
3 Turkey, Egypt, Ukraine Debt Financing, Post-IPO Debt, Private Equity Financial Services, Banking, Energy $5.1M–$369M
Cosmin Manea
Angel
3 Romania, Spain Angel, Seed SaaS, Big Data, Software $45k–$261k
Inovo.vc
VC Fund
3 Poland, United States, United Kingdom Seed, Pre-Seed, Series A Software, Artificial Intelligence, Information Technology $329k–$23M
Founders Bridge
VC Fund
3 Romania, United States Seed, Pre-Seed Internet, SaaS, Beauty $135k–$725k
Mozaik Investments
VC Fund
2 Romania Series A Apps, FinTech, Payments $2.5M–$2.5M
Zeyshare Ventures
VC Fund
2 Romania, United States, United Arab Emirates Seed, Series A Internet, News, E-Commerce
Bravva Angels
VC Fund
2 Romania Pre-Seed Impact Investing, Wealth Management, Financial Services $407k–$765k
I.F.N.
VC Fund
2 Romania Seed, Pre-Seed Grocery, Home Services, Delivery Service
Portfolion
VC Fund
2 Hungary, Poland, United States Seed, Series A, Series B Software, Information Technology, Artificial Intelligence $550k–$45M
Eleven Ventures
VC Fund
2 Bulgaria, United States, United Kingdom Seed, Convertible Note, Pre-Seed Software, E-Commerce, Information Technology $28k–$2.3M
Impact Ventures Hungary
VC Fund
2 Hungary, Spain, Italy Seed, Pre-Seed Software, Artificial Intelligence, Agriculture $902k–$4.6M
Global Founders Capital
VC Fund
2 United States, Germany, United Kingdom Seed, Series A, Pre-Seed Financial Services, Software, FinTech $575k–$30M
Simple Capital
VC Fund
2 Romania, United States Seed, Pre-Seed Mobile Apps, Fitness, Software $608k–$1.1M
Blueberry Muffin
VC Fund
2 Romania Seed, Pre-Seed Grocery, E-Commerce, Food and Beverage
European Union
VC Fund
2 Germany, United Kingdom, United States Grant, Seed, Pre-Seed Software, Information Technology, Health Care $21k–$28M
bValue Fund
VC Fund
2 Poland, United States, Germany Seed, Pre-Seed Software, SaaS, Information Technology $265k–$5M
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list


GapMinder VC
VC Fund · Bucharest, Bucuresti, Romania · 44 investments in Romania startups

GapMinder is a venture capital fund focused on investing in disruptive early-stage B2B startups in Deeptech and SaaS, primarily in the SEE region and its diaspora. The fund supports companies with high potential for scale, particularly in sectors like AI, fintech, cybersecurity, and automation. GapMinder invests in Seed rounds of €0.5m – €5m, with follow-on investments of up to €12m. The team, composed of former operators and entrepreneurs, emphasizes hands-on support in scaling operations, sales, marketing, and financial planning, aiming to help portfolio companies expand internationally and thrive in global markets.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Romania, United States, United Kingdom

Investor stats

  • Total investments: 78
  • Round size: Seed $236k–$4.7M; Pre-Seed $83k–$564k; Series A $2.5M–$20M
  • Lead/follow: 59% lead, 41% follow
  • Last fund: Likely still investing — raised $87M in 2024

Portfolio highlights

  • Veridion — Veridion is a living digital replica of the business world. Decision-grade data for enterprise scale systems
  • VoicePatrol — VoicePatrol provides real-time voice chat protection, detecting and acting on severe toxicity and illegal activity for online communities.
  • Salestools AI — Leading AI SDR platform with AI Sales Agents for automated prospecting, AI LinkedIn agents, and people tracking. 3x more meetings booked on autopilot.
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Early Game Ventures
VC Fund · Bucharest, Bucuresti, Romania · 39 investments in Romania startups

Early Game Ventures (EGV) is a top-decile early-stage VC fund investing in startups across Europe. Our philosophy is quite straightforward: we invest at the earliest stages in companies whose founders have vested interests, are coachable, and address big markets. If the opportunity is real, we prefer to be the first institutional investor in such startups.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Romania, United States, United Kingdom

Investor stats

  • Total investments: 55
  • Round size: Seed $330k–$1.9M; Pre-Seed $378k–$1.1M; Venture - Series Unknown $137k–$3.3M
  • Lead/follow: 73% lead, 27% follow
  • Last fund: Likely still investing — raised $64M in 2024

Portfolio highlights

  • Kyndred — Kyndred is an AI platform that creates real-time interactive characters powered by generative animation, emotional voice, and long-term memory.
  • Soulstream — The first social note-taking app for books. Underline (formerly BookVitals) helps people extract notes from physical, digital and audiobooks, and then share those book notes with friends and followers.
  • Orbital Matter — Orbital Matter is a construction company in space that works on a 3D printing technology to be used directly in orbit and on the moon. Orbital Matter aims to manufacture large elements of space infrastructure such as walls for space stations, moon habitats, and SBSP reflectors. The company was founded in 2022 and is based in Warsaw, Poland.
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Roca X
VC Fund · Bucharest, Bucuresti, Romania · 24 investments in Romania startups

RocaX > Is building a solid and much needed bridge for startups between the support offered by business angels and the upper stage VCs. Learn more!

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Investment focus

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

Investor stats

  • Total investments: 36
  • Round size: Seed $150k–$2.6M; Pre-Seed $56k–$915k; Convertible Note $165k–$1.1M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $4.4M in 2019

Portfolio highlights

  • FilmChain — Managing end-to-end financial transactions for creative industries
  • Bunnyshell — Bunnyshell is a a simple and fast cloud-agnostic DevOps automation platform to deploy, scale, and optimize your applications.We provide easy infrastructure management on multiple clouds , application management and DevOps Tools.Bunnyshell increases speed, performance, and scalability & works on the most popular major clouds: AWS, DigitalOcean, Azure, Linode, Vultr, UpCloud.Our platform allows you to focus on growing your app, while we take care of the rest: real time monitoring, auto scaling, smart self-healing servers, one click deployment. Backed by 24/7 real time support.
  • Kinderpedia — Free remote video teaching on Kinderpedia, Daily attendance, gradebook and reports and 20 more functionalities for connected education.
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Sparking Capital
VC Fund · Bucharest, Bucuresti, Romania · 10 investments in Romania startups

Sparking Capital is an early stage micro fund backing entrepreneurs with unique industry insights, powerful vision, passion, courage and excellence in the execution of their plans.Sparking Capital focuses on pre-seed & seed investments. We are industry agnostic but have a preference for investments in consumer internet, marketing-tech, supplychain-tech, fin-tech, property-tech, circular economy-tech startups with differentiating value propositions, disruptive business models which have the potential to become national champions and/or scale up fast internationally.

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Investment focus

  • Industry: SaaS, Internet, Software
  • Stage:Seed, Pre-Seed
  • Geography: Romania, United States, Czech Republic

Investor stats

  • Total investments: 12
  • Round size: Seed $330k–$2M
  • Lead/follow: 58% lead, 42% follow

Portfolio highlights

  • Pluria — Flexible offices in LATAM & Europe: hundreds of coworking spaces and meeting rooms for employees and teams. Hybrid work model for companies.
  • RobosizeME — Hotel workflow automation that saves time, reduces errors, and boosts ROI with smart tools designed for modern hotel operations.
  • Vatis Tech — Speech-to-text recognition API with custom AI models and real-time transcription for the English language. Get started now for FREE!
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Gecad Ventures
VC Fund · Bucharest, Bucuresti, Romania · 10 investments in Romania startups

Our commitment, experience, and perseverance have fueled the creativity of some of the most exciting start-ups in Europe.

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Investment focus

  • Industry: Software, Payments, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Romania, United Kingdom, United States

Investor stats

  • Total investments: 30
  • Round size: Seed $200k–$2M; Pre-Seed $200k–$200k; Series A $2.9M–$5.5M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • FintechOS — FintechOS is the AI platform for financial product operations. Design, price, launch, and evolve financial products with governed AI and reduced core dependency.
  • Dataworks Research SRL — Dataworks Research, doing business as Veridion, enriches business data by offering comprehensive insights through real-time updates. Fueled by the intricacies of AI and Machine Learning, the company develops effective methods to acquire and maximize the utilization of data. Emphasizing reliability and thoroughness, its datasets remain unparalleledin terms of accuracy and classification, surpassing industry giants.
  • TypingDNA — TypingDNA provides typing biometrics authentication as a service, enabling companies to recognize people by the way they type. The company's authentication technology compares how people type on their keyboards against previous recordings. Works on both mobiles and PCs. Headquartered in New York, United States, with offices in Romania, EU.
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THE Q AGENCY
VC Fund · Bucharest, Bucuresti, Romania · 9 investments in Romania startups

THE Q AGENCY is a Business Development Company which focuses on creating and investing in small businesses that have a cognitive approach in their processes, operations and of course in the products and services offered. We like to develop companies that outthink the competition and enhance the way we live and work.

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Investment focus

  • Industry: Neuroscience, Analytics, Consulting
  • Stage:Seed, Pre-Seed
  • Geography: Romania

Investor stats

  • Total investments: 9
  • Round size: Seed $16k–$118k; Pre-Seed $11k–$24k
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • THE Q AGENCY — THE Q AGENCY is a Business Development Company which focuses on creating and investing in small businesses that have a cognitive approach in their processes, operations and of course in the products and services offered. We like to develop companies that outthink the competition and enhance the way we live and work.
  • THE Q SECTOR — The Q Sector is a concept that focuses on digital transformation and Industry 4.0 practices. The platform explains how digital technology connects with manufacturing, automation, artificial intelligence, and networking systems. It shares information about digital transformation in business operations and production processes. The platform coverssectors such as agriculture, mining, equipment, consumer industries, banking, retail, and logistics. It also includes areas related to information technology, research and development, knowledge services, corporations, and government. The platform provides content and updates about Industry 4.0 topics through sector-based categories. It also offers subscription access and contact options for people who want more information about digital transformation themes.
  • THE Q SECTORS - Research Center — Institute of THE Q SECTORS
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Catalyst Romania
VC Fund · Bucharest, Bucuresti, Romania · 9 investments in Romania startups

Catalyst Romania is a private equity and venture capital fund platform.

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Investment focus

  • Industry: Software, Retail, FinTech
  • Stage:Venture - Series Unknown, Seed, Series A
  • Geography: Romania, United Kingdom, Serbia

Investor stats

  • Total investments: 16
  • Round size: Seed $1.1M–$2.1M; Series A $3.4M–$3.7M; Venture - Series Unknown $1.4M–$6.1M
  • Lead/follow: 69% lead, 31% follow

Portfolio highlights

  • Carfix — Carfix solves every task in minutes, eliminating costly fines for expired inspections, unpaid taxes, human errors & paper-based procedures
  • SOMAREALITY — SOMAREALITY provides eye tracking solutions for diverse industries. Improve healthcare, automotive, research & aviation with real-time cognitive insights.
  • Footprints AI — Retail Media Powered by AI That Understands Why People Buy. Connected to Real Shopper Purchases. Footprints AI is the most advanced platform to buy or sell retail ads - in stores and online - with precise targeting across the largest retail media ecosystem.
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Fortech Investments
VC Fund · 8 investments in Romania startups

Romanian Investment fund and strategic partner for early-stage start-ups in Energy, Healthcare, Manufacturing, Automotive, and FinTech.

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Investment focus

  • Industry: Software, Artificial Intelligence, Big Data
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Romania, United States, Serbia

Investor stats

  • Total investments: 19
  • Round size: Seed $147k–$1.2M; Pre-Seed $416k–$922k; Venture - Series Unknown $482k–$500k
  • Lead/follow: 42% lead, 58% follow

Portfolio highlights

  • SaleSqueze — The 3D configurator for outdoor living that prices your product on the spot, writes the quote itself, and helps you close before the deal goes cold.
  • Collabwriting — Collabwriting is a simple browser extension that helps you share, comment and collaborate on content you find online
  • blue auditor GmbH — blue auditor is a sustainability management tool for buildings and real estate portfolios with the focus on transitioning to a sustainable real estate industry; providing wholistic and overall performance monitoring and improvements for sustainability management.
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3TS Capital Partners
VC Fund · Helsinki, Southern Finland, Finland · 8 investments in Romania startups

One of the leading European technology-focused growth capital investors, backing high-growth SMEs across Technology & Internet, Media & Communications.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Series A, Venture - Series Unknown
  • Geography: United States, Poland, Romania

Investor stats

  • Total investments: 79
  • Round size: Series A $768k–$12M; Venture - Series Unknown $1M–$11M
  • Lead/follow: 52% lead, 48% follow
  • Last fund: Likely still investing — raised $120M in 2024

Portfolio highlights

  • GoTo (formerly LogMeIn) — GoTo, formerly known as LogMeIn, offers flexible-work software solutions such as GoTo Connect, GoTo Resolve, Rescue, and Central. Designed primarily for small and midsize business IT departments yet robust enough for enterprise use, GoTo's platform supports unified communications and collaboration (UCC) as well as IT management and support.With nearly 800,000 customers, GoTo facilitates over 1 billion participants in meetings, classes, and webinars through its UCC products and enables half a billion connections via its remote access and support tools.
  • Wealthon — Wealthon is a lending firm that offers installment loans, bridging loans, and POSCASH to individuals and businesses.
  • BOOKR Kids — BOOKR Kids helps children develop better first and second language skills using engaging technology and fun reading activities and games.
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Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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Marius Istrate
Angel · 7 investments in Romania startups

Former Chief People Officer of UiPath, from 2017 until 2020. Former CEO of SkillValue, from 2014 until 2016. Angel Investor and VC Investor. Focus on Enterprise SaaS, Productivity Tech, Dev Tools, Cloud, AI & Automation.

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Investment focus

  • Industry: Artificial Intelligence, Software, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Romania, United States, France

Investor stats

  • Total investments: 15
  • Round size: Seed $1.2M–$8.5M; Pre-Seed $442k–$3.3M; Series A $6.4M–$22M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • parol — A platform that streamlines clinical procedures, records the consultation in real time, files all the paperwork for the doctor, and brings in more patients.
  • Kodesage — Kodesage captures your company's collective knowledge to help understand and modernize legacy code
  • Riptides — Riptides secures non-human identities at the kernel level. SPIFFE-based workload identity, secretless credentials, automatic mTLS, and per-agent egress control, enforced at runtime with no SDKs and no code changes.
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Underline Ventures
VC Fund · Bucharest, Bucuresti, Romania · 6 investments in Romania startups

We underline founders.

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Investment focus

  • Industry: Software, Artificial Intelligence, Machine Learning
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Romania, United States, Serbia

Investor stats

  • Total investments: 21
  • Round size: Seed $1.2M–$5.5M; Pre-Seed $865k–$2.7M; Series A $14M–$20M
  • Lead/follow: 14% lead, 86% follow
  • Last fund: Likely still investing — raised $20M in 2023

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
  • Embedd — Chips modelled as digital twins. Software, tests and simulations generated for any target.
  • Veridion — Veridion is a living digital replica of the business world. Decision-grade data for enterprise scale systems
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Malin-Iulian Stefanescu
Angel · Bucharest, Bucuresti, Romania · 6 investments in Romania startups

Business Angel, Entrepreneur, Father

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Investment focus

  • Industry: Software, Marketing, Internet
  • Stage:Seed, Angel, Series A
  • Geography: Romania, United States, United Kingdom

Investor stats

  • Total investments: 11
  • Round size: Seed $237k–$2M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • Aggero — Turn every piece of video content into actionable insights for your next campaign
  • Tokinomo — Discover Tokinomo, the in-store interactive robotic promotional display helps FMCG products stand out on the shelves for an average 200% increase in sales.
  • Vatis Tech — Speech-to-text recognition API with custom AI models and real-time transcription for the English language. Get started now for FREE!
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Cleverage VentureCapital
VC Fund · 6 investments in Romania startups

Cleverage Venture Capital

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Investment focus

  • Industry: Health Care, SaaS, Big Data
  • Stage:Seed, Convertible Note, Pre-Seed
  • Geography: Romania, Czech Republic, The Netherlands

Investor stats

  • Total investments: 11
  • Round size: Seed $154k–$1.7M; Convertible Note $79k–$409k
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • Kardi Ai — Kardi Ai is a healthtech startup focused on long-term heart monitoring. With its smart wearable and AI-powered app, it provides a 6× higher chance of detecting heart rhythm disorders than current methods, covering 7 types of arrhythmias. Backed by MDR class IIa medical certification, it empowers people to protect their heart health while givingdoctors a reliable tool that saves time and improves patient care.
  • Synaptiq.io — When Artificial Intelligence meets Medical Analysis - we create software solutions based on AI for improving medical services.
  • XVision — XVision is an automated x-ray analysis application that assists radiologists by providing accurate interpretations of medical images
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Marius Ghenea
Angel · Bucharest, Bucuresti, Romania · 5 investments in Romania startups

• Partner of Catalyst Romania VC Fund (part of 3TS Capital Partners) - http://catalystromania.ro/ • “Investor of the Year in Romania 2016 and 2017" award by CESA with Catalyst Romania Fund • Serial entrepreneur and business-angel with successful investments in SEE, ranks in fortune Romanian surveys Capital, Forbes. • Experienceas an start-up entrepreneur with Flamingo, from zero revenues and capital to a $50M company, the largest IT product distribution network in Romania, in 7 years. Setting-up a Flamingo International group structure with direct operations in 7 SEE countries (Romania, Bulgaria, Croatia, Hungary, Macedonia, Moldova, Yugoslavia) and one fully-fledged subsidiary in Holland, 1999 – 2001. • Manager of team of 500+ people with Flamingo, employees from various countries (majority Romanian), cultures, backgrounds and contributing to the creation of one of the best teams in the IT business in the Balkan region • Experience in private equity and venture capital investments. Deal-leader on 6 (123ContactForm, VectorWatch, Marketizator Friends, Intelligent IT/SmartBill, Smartdreamers, Vola.ro) out of 10 investments of Catalyst Romania Fund. • Exit track-record: VectorWatch, sold to FitBit early 2017, PCGarage, bought by Naspers/Emag in 2016; VikingProfil, bought by Pruzsinski of Poland, 2008, Flanco, successful exit in 2006, Flamingo, successful IPO in 2004, etc. • Co-Founder VentureConnect (regional matchmaking platform for tech start-up entrepreneurs and early-stage investors); President Romanian Association for the Online Stores (ARMO) • Entrepreneurship, Innovation and New Business Ventures Professor, Maastricht School of Management EMBA program • Co-organizer Schoolforstartups Romania, the first SE European entrepreneurship school • Author of “Entrepreneurship”, the first Romanian book on entrepreneurship and TV dragon in the Romanian Dragons’ Den

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Investment focus

  • Industry: Software, SaaS, FinTech
  • Stage:Series A, Venture - Series Unknown, Seed
  • Geography: Romania, United Kingdom, Serbia

Investor stats

  • Total investments: 14
  • Round size: Seed $784k–$1.1M; Series A $569k–$3.7M; Venture - Series Unknown $1.1M–$5M
  • Lead/follow: 64% lead, 36% follow

Portfolio highlights

  • Marketizator — Serious eCommerce players become customer-centric if they focus on what matters. Optimize your customer journey with data-driven decisions.
  • Vector Watch — Vector Watch's vision is to change the way people use smart watches and wearable technologies. The company was founded in 2013 by a team of former executives in the technology industry, backed by young engineers and multi-awarded designers for their projects in international innovation competitions.
  • SmartDreamers — The talent acquisition software that helps you reach and engage more, better candidates in record time through the use of Recruitment Marketing Automation.
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LAUNCHub Ventures
VC Fund · Sofia, Grad Sofiya, Bulgaria · 5 investments in Romania startups, 6 in the past 12 months

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: 166
  • Round size: Seed $41k–$3.4M; Pre-Seed $216k–$2.8M; Series A $4.4M–$22M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $85M in 2021

Portfolio highlights

  • 1club AI — 1club is an AI-native club management software platform built for gyms, fitness studios, and multi-sport facilities. It helps operators automate memberships, bookings, scheduling, billing, and member communication in one unified system. With built-in marketplace distribution, branded member portals, and AI agents that assist both staff and members, 1club enables clubs to streamline operations, increase revenue, and deliver a modern digital experience to their communities.
  • 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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Day One Capital
VC Fund · Budapest, Budapest, Hungary · 5 investments in Romania startups

We are an early-stage technology investor, managing privately financed funds. We seek to find and join the most exciting Central Eastern European teams on their global mission.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Hungary, United States, Croatia

Investor stats

  • Total investments: 61
  • Round size: Seed $521k–$6.1M; Pre-Seed $500k–$7.2M; Series A $3M–$27M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Volteum — Electric vehicle (EV) fleets made easy. Volteum helps companies transition to EVs, optimize charging, and manage electric car fleet operations efficiently.
  • Veridion — Veridion is a living digital replica of the business world. Decision-grade data for enterprise scale systems
  • Whalebone — Whalebone offers zero disruption cybersecurity products to Telcos, ISPs, and enterprises.
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Growceanu Angel Investment
VC Fund · 5 investments in Romania startups

Growceanu is a group of business angels, active primarily in high-tech areas that contribute with money, professional and business expertise and personal connections to the development of tech startups with high potential of growth.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Pre-Seed, Convertible Note
  • Geography: Romania, Luxembourg, United States

Investor stats

  • Total investments: 11
  • Round size: Seed $154k–$1.2M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • Milluu — Helping places become homes! Milluu is the app that gets personal, relevant and smart about rent.We believe that things are done properly when you're personally invested. And we invest our technology & smart tools to help you find your next home or your next ideal tenant!We have created a service app that connects directly listers andtenants based on their preferences.Based on AI and ML, our Milluu Bot is the friendly face of the app, assisting you permanently in your rental journey, making suggestions for great matches and helping you close the deal.
  • MediNav — MediNav is a software company. They offer machine learning, artificial intelligence, medtech, and digital health services. They focus on delivering cutting edge technology to hospitals and private practices in order to support them during their consultations and reduce the time spent on filling forms. If anyone wants to contact them please contactthem via phone call or email.
  • Licenseware — LICENSEWARE is the modular SAM platform: connect the data you already have and get license positions, cost savings and audit defence per vendor in minutes.
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Sofia Angels Ventures
VC Fund · Sofia, Grad Sofiya, Bulgaria · 4 investments in Romania startups

Agri supply chain tech and finance solutions.World best visual search platformImproving transportation industry via advanced technology and

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Investment focus

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

Investor stats

  • Total investments: 22
  • Round size: Seed $657k–$2.9M; Pre-Seed $108k–$901k; Series A $9.8M–$11M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Ogre AI — AI foresight for every asset, grid node and market, turned into decisions: constraint actions, site schedules, trading positions. Live in 17 countries.
  • Fabrico SaaS — Manufacturing performance platform: MES and OEE software with CMMS built in. Real-time production monitoring, downtime tracking and a price on every loss.
  • Blue Longevity — Expert care for a healthier, longer life. Opening soon Athens | Istanbul | Sofia
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TechAngels
VC Fund · Bucharest, Bucuresti, Romania · 4 investments in Romania startups

TechAngels is the tech business angel investors group in Romania, backing tech startups from Romania and South-Eastern Europe since 2013.

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Investment focus

  • Industry: Software, FinTech, Home Health Care
  • Stage:Seed, Pre-Seed, Convertible Note
  • Geography: Romania, United Kingdom, Luxembourg

Investor stats

  • Total investments: 8
  • Round size: Seed $200k–$1.2M; Pre-Seed $144k–$545k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • FilmChain — Managing end-to-end financial transactions for creative industries
  • FINOR — The all-in-one wealth management software which supports both clients and advisors in managing specific investment products, overseeing entire portfolio and tracking its performance, controlling the asset selection and allocation processes through indicative data, generating and exporting interactive reports in line with regulatory requirements.
  • Licenseware — LICENSEWARE is the modular SAM platform: connect the data you already have and get license positions, cost savings and audit defence per vendor in minutes.
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The Mavers
VC Fund · 4 investments in Romania startups

The Maversis a venture capital investment firm.

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Investment focus

  • Industry: Consulting, Health Care, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Romania

Investor stats

  • Total investments: 4
  • Round size: Pre-Seed $141k–$442k
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • parol — A platform that streamlines clinical procedures, records the consultation in real time, files all the paperwork for the doctor, and brings in more patients.
  • INKI.TECH — Equip your business with high-end, secure IT equipment through INKI's device-as-a-service model. Reduce operational costs, increase agility, and embrace sustainability while minimizing total cost of ownership.
  • Unison — Unison is a nutritionist who specializes in plant-based diets and its products contain just natural ingredients, no added sugar, and no preservatives.
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Hesham Zreik
Angel · Dubai, Dubai, United Arab Emirates · 4 investments in Romania startups

Hesham Zreik is the CEO of FasterCapital. He previously worked at DreamApps as a Project Manager. Hesham attended the University of Westminster.

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Investment focus

  • Industry: Information Technology, Software, E-Commerce
  • Stage:Pre-Seed, Seed, Series A
  • Geography: United States, India, Nigeria

Investor stats

  • Total investments: 1175
  • Round size: Seed $20k–$2M; Pre-Seed $10k–$1M; Series A $170k–$5M
  • Lead/follow: 53% lead, 47% follow

Portfolio highlights

  • EasyBusy — EasyBusy is a contractor-client matching platform designed to address key challenges in the GCC service and construction economy.
  • Excel And Impact Agro — Excel And Impact Agro aims to tackle the chronic shortage of vegetable production in Côte d'Ivoire.
  • JLC Industry Of Tomato Paste Sarl U — JLC Industry is a Togolese agro-industrial startup dedicated to the production, processing, and commercialization of tomato concentrate.
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Credo Ventures
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 4 investments in Romania startups

We partner with outstanding technology founders from Central and Eastern Europe to help them realize their global ambitions.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, United Kingdom, Czech Republic

Investor stats

  • Total investments: 187
  • Round size: Seed $800k–$7M; Pre-Seed $385k–$10M; Series A $2M–$19M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely actively investing — fresh fund, raised $88M in 2026

Portfolio highlights

  • Modeinspect — acreom is the integrated markdown knowledge base with tasks. Your personal daily driver for your dev workflow.
  • Fabrica AI — Fabrica AI offers a revolutionary platform for faster robot development, using custom hardware designs and learned optimal control to increase efficiency while minimizing complexity and cost. With a vision for a future where robot development takes days, not years.
  • Delta Green — Aggregating household assets in large controllable block of flexibility.
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Leryon Holdings
VC Fund · Galati, Galati, Romania · 4 investments in Romania startups

ALTERNATIVE INVESTMENTS - On top of our leading real estate focus, we also manage investments in stocks & bonds, as well as act as a boutique venture capital firm identifying start-ups with high potential and providing initial seed funding, while accompanying them during the early years of development and growth.

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Investment focus

  • Industry: SaaS, Public Safety, Law Enforcement
  • Stage:Debt Financing, Venture - Series Unknown
  • Geography: Romania

Investor stats

  • Total investments: 4
  • Round size: Debt Financing $531k–$548k
  • Lead/follow: 75% lead, 25% follow

Portfolio highlights

  • Flyward — Flyward delivers precise aircraft maintenance cash flow forecasting and pricing software for lessors, investors, and aviation finance experts.
  • Invisum Ai — InVisum AI specializes in different types of AI-driven facial/object recognition software for the intelligence community & savvy businesses that need an edge over their competition.
  • Orbotix — Orbotix Tech - Revolutionize the defense industry with innovative designs and advanced technologies that redefine operations.
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Alfabeat
VC Fund · Gdansk, Pomorskie, Poland · 3 investments in Romania startups

Welcome to Alfabeat, a specialist seed and early stage venture capital fundfocused on Enterprise SaaS companies from Central and Eastern Europe,backed by successful enterprise software founders.

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Investment focus

  • Industry: Software, Marketing, SaaS
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Poland, United States, United Kingdom

Investor stats

  • Total investments: 33
  • Round size: Seed $199k–$4M; Pre-Seed $300k–$1.2M; Series A $2.5M–$15M
  • Lead/follow: 39% lead, 61% follow

Portfolio highlights

  • Andiamo — See what people are saying. Andiamo gives me full control over my prescription. I can achieve outcomes I didn't think
  • SunRoof — Roof of the future
  • Druid AI — DRUID is an AI platform that allows companies to automate processes by designing and deploying UiPath RPA integrated chatbot virtual assistants.
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Ioan Alexandru Dragan
Angel · 3 investments in Romania startups

CEO @ Sim Soft Distribution CEO @ ARGONIAN

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Investment focus

  • Industry: Aerospace, Drone Management, Smart Cities
  • Stage:Pre-Seed
  • Geography: Romania

Investor stats

  • Total investments: 3
  • Round size: Pre-Seed $100k–$414k
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • ARGONIAN — Explore Argonian Sky Guardians for advanced drone detection and unmanned traffic management solutions, supporting EU airspace safety with European-made, cutting-edge technology.
  • Sim Soft Distribution — Air Traffic Control training solutions
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Neogen Capital
VC Fund · Targu-mures, Mures, Romania · 3 investments in Romania startups

We're a venture studio specialised in marketplaces. We build, fund or buy tech companies with impact.

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Investment focus

  • Industry: Software, Information Technology, B2C
  • Stage:Pre-Seed, Seed
  • Geography: Romania, Greece, United Kingdom

Investor stats

  • Total investments: 5
  • Round size: Seed $547k–$589k; Pre-Seed $178k–$2M
  • Lead/follow: 80% lead, 20% follow

Portfolio highlights

  • Protio — Protio is proptech startup reinventing the process of buying & selling real estate.
  • TULIPR — Tulipr is your solution for Marketing Procurement in the FMCG industry. Manage suppliers and vendors efficiently.
  • Metabeta — Early-stage portfolio management for startup accelerators and investors.
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Transylvania Angels Network
VC Fund · 3 investments in Romania startups

T.A.N. is a new initiative created for bringing together business people interested in angel investing & mentoring tech startups.

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Investment focus

  • Industry: Health Care, Information Technology, SaaS
  • Stage:Seed
  • Geography: Romania, The Netherlands

Investor stats

  • Total investments: 4
  • Round size: Seed $154k–$1.2M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Telios — Telios provides digital solutions for healthcare services. They provide medical services available to beneficiaries of large and small organizations in areas such as retail, IT, manufacturing, and transportation. For inquiries, telephone and email contact are used.
  • Oncochain — Oncochain facilitates real-world data collection and care delivery in oncology.
  • Licenseware — LICENSEWARE is the modular SAM platform: connect the data you already have and get license positions, cost savings and audit defence per vendor in minutes.
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Hellen's Rock Capital
VC Fund · Bucharest, Bucuresti, Romania · 3 investments in Romania startups

We partner with innovative doers and thinkers who have the know-how and vision to build game-changing companies.

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Investment focus

  • Industry: Software, Fitness, SaaS
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: United States, Romania, United Kingdom

Investor stats

  • Total investments: 22
  • Round size: Seed $700k–$6.9M; Pre-Seed $429k–$1.9M
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • GoJoe — Ditch the step challenge apps and employee engagement platforms and boost inclusivity and engagement with GoJoe.The employee engagement and wellbeing app that people actually use.
  • Rolla — Rolla is a social fitness platform that helps users track, compete and have fun while working out - outdoors, indoors, and virtually. It gives the best of both worlds, seamlessly providing the transition between virtual and real-life activities with a full overview of activities while connecting users with others in social and community features.Rolla brings a fun and easy-to-use health and fitness platform to its users by empowering them to keep track of and improve their wellbeing. We provide a seamless way for users to exercise or compete outdoors, indoors, and virtually.
  • Rolla — Rolla helps beginners and fitness enthusiasts to improve their overall health & fitness. Take the next step and reach your goals with features tailored to your preferences and fitness level.
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Black Sea Trade & Development Bank
VC Fund · Thessaloníki, Thessaloniki, Greece · 3 investments in Romania startups, 7 in the past 12 months

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by 11 countries in the Black Sea region.

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Investment focus

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

Investor stats

  • Total investments: 60
  • Round size: Post-IPO Debt $5.5M–$339M; Debt Financing $7.1M–$435M
  • Lead/follow: 77% lead, 23% follow

Portfolio highlights

  • Rezolv Energy — Discover how renewable energy producers are shaping a new era of sustainable power and reducing environmental impact.
  • Metinvest Group — Metinvest is an international, vertically integrated mining and metals company. The Group comprises mining and metallurgical assets in Ukraine, Europe and the US, complemented by a global sales network. Metinvest manages the complete production chain, from extracting iron ore and coal to manufacturing semi-finished and finished steel products. Withassets close to key railway lines and ports, Metinvest can supply raw materials and steel products anywhere in the world.
  • Econergy Renewable Energy — Econergy to create, own, and manage utility-scale renewable energy projects, guided by in-depth knowledge of the industry, regulations, and technology at each crucial stage, from creation to supply
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822 industries, 177 countries. Updated daily. Emails and phones included.

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MMC Ventures
VC Fund · London, England, United Kingdom · 3 investments in Romania startups

MMC is an early-stage venture capital fund investing in exceptional entrepreneurs across Europe.

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Investment focus

  • Industry: Software, Artificial Intelligence, Machine Learning
  • Stage:Seed, Series A, Series B
  • Geography: United Kingdom, United States, France

Investor stats

  • Total investments: 261
  • Round size: Seed $1.4M–$10M; Series A $2.9M–$19M; Series B $10M–$54M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: May invest from a new fund soon — raised $129M in 2019

Portfolio highlights

  • Zenithon — Zenithon is building machine learning models to provide a step change in the development and optimization of technology. The company's mission is to keep humanity on the exponential by enabling radically faster and more accurate design and optimization. Their team develops physics grounded machine learning models that make complex simulations dramatically faster, enabling more simulations, more iterations and more ways to explore what is possible.
  • ABEX — Algorithmic Best Execution for Digital Assets
  • Stanhope AI — Stanhope AI is a deep-tech startup based in London with a strong background in neuroscience, robotics and fintech. We are bringing Active Inference to market as a novel framework for autonomous decision-making. To contend with the challenges of contemporary AIs, our distinct approach aims to offer
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Andrei Bara
Angel · 3 investments in Romania startups

Andrei Bara

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Investment focus

  • Industry: Software, FinTech, Analytics
  • Stage:Seed, Pre-Seed
  • Geography: Romania, Germany, Ireland

Investor stats

  • Total investments: 9
  • Round size: Seed $154k–$6.2M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Fintor — Automate verification, document workflows, and compliance with AI coworkers built for lenders and servicers.
  • ThinkOut — One financial decision-making tool that enables you to map, plan, analyze, foresee, monitor and manage your business cash flow.
  • StageMe — The live streaming tool for e-commerce platforms || for more engaged customers & a conversion rate explosion.
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Bianca Rusu
Angel · Cluj-napoca, Cluj, Romania · 3 investments in Romania startups

Entrepreneur & angel investor in disruptive startups building the future through technology.

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Investment focus

  • Industry: SaaS, Software, EdTech
  • Stage:Pre-Seed, Equity Crowdfunding, Seed
  • Geography: Romania, United Kingdom

Investor stats

  • Total investments: 6
  • Round size: Seed $603k–$628k; Pre-Seed $367k–$487k; Equity Crowdfunding $149k–$450k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Cyscale — At Cyscale, we believe that a safer Cloud means a safer World. We need to do something extraordinary to have a better, easier and more secure way of designing & deploying any Cloud Infrastructure in AWS, Azure, GCP, OpenStack, VMWare, IBM Cloud, Oracle Cloud and even Alibaba Cloud.That is why we create amazing tools so that everybody canbuild & deploy cloud infrastructure with security in mind, knowing the costs upfront, while maintaining continuous regulatory compliance. All done automatically with just a few clicks.We are the first Cloud Management, Security and Compliance company empowering both regular people and cloud professionals with visual tools to meet this level of cloud automation and security.We're Cyscale, born in the Cloud to protect the Cloud!Join our team or pre-register for the product launch: https://cyscale.com
  • BRIO — Brio is more than an idea whose time has come — it’s a fully fledged DeepTech SaaS educational platform that was conceptualised according to the most rigorous global standards. One of those few fortunate businesses where profit and social purpose go hand in hand, Brio is a first mover in a market of 3 million students (in Romania alone), offeringcore testing products for grades 1-12, for the National Evaluation and the Baccalaureate.
  • SecurifAI — SecurifAI develop AI systems for real-time video analysis in order to detect suspect behavior, potential attacks, and deliver timely alerts.
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Oliver Hehl
Angel · Walldorf, Baden-Wurttemberg, Germany · 3 investments in Romania startups

Oliver Hehl

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Investment focus

  • Industry: Banking, FinTech, Financial Services
  • Stage:Angel, Seed, Pre-Seed
  • Geography: Germany, Romania

Investor stats

  • Total investments: 5
  • Round size: Pre-Seed $419k–$575k
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • OWWN — OWWN is a banking app that provides a one-stop shop for young adults to manage their finances. It allows customers to maintain an account with a Visa debit card and make mobile payments, just like a typical bank, but they can also apply for a student loan from Kfw Bank. At the same time, they can create shared savings pools, anonymously comparetheir budgets with friends, and participate in challenges. Users can use Owwn alone or collectively.
  • Jobful — Build engaged talent pipelines with AI-powered recruitment. Reduce cost per hire by 35%, shift from reactive to strategic hiring. Trusted by enterprise leaders.
  • deineStudienfinanzierung — deineStudienfinanzierung is the digital platform to help students finance their studies.
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European Bank for Reconstruction and Development
VC Fund · London, England, United Kingdom · 3 investments in Romania 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: 502
  • Round size: Post-IPO Debt $17M–$369M; Debt Financing $5.1M–$247M; Private Equity $15M–$100M
  • Lead/follow: 76% lead, 24% follow

Portfolio highlights

  • İşbank — İşbank is a Turkish commercial banking service provider.
  • 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.
  • Tbc Bank Group — TBC Bank Group PLC is the UK-based parent company of JSC TBC Bank and its affiliates, Georgia's largest banking group.
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Cosmin Manea
Angel · 3 investments in Romania startups

Cosmin Manea is a Founding Partner at Instashop.

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Investment focus

  • Industry: SaaS, Big Data, Software
  • Stage:Angel, Seed
  • Geography: Romania, Spain

Investor stats

  • Total investments: 4
  • Round size: Angel $45k–$261k
  • Lead/follow: 75% lead, 25% follow

Portfolio highlights

  • Safeflows — Outbound lead generation services for B2B
  • Burger Index — One database for all online food and grocery data
  • Ecotree Romania — EcoTree is the first digital platform in Romania that provides real and measurable benefits to the waste management industry by digitizing operational processes and legal documentation through business intelligence modules for data analysis and reporting, dedicated tendering modules and more, ensuring full transparency and traceability. In thisway, the startup actively contributes to a clean and sustainable environment. The company was founded in 2017 by Bogdan Andronache, Alexandru Petrescu, Marius Cîrstea and Dan Simota with the aim of digitizing the specific processes of waste collection and recycling, positioning itself as a player in the circular economy.
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Inovo.vc
VC Fund · Warsaw, Mazowieckie, Poland · 3 investments in Romania startups, 8 in the past 12 months

VC for the most ambitious founders in CEE

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Poland, United States, United Kingdom

Investor stats

  • Total investments: 103
  • Round size: Seed $329k–$9.9M; Pre-Seed $700k–$3.4M; Series A $1.7M–$23M
  • Lead/follow: 51% lead, 49% follow
  • Last fund: Likely still investing — raised $107M in 2022

Portfolio highlights

  • Creem — Creem is the money platform for the AI era. Sell software and digital products globally.
  • Yope — Salo is a discussion platform that erases the borders for people with diverse opinions to let anyone speak up and be heard.
  • 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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Founders Bridge
VC Fund · 3 investments in Romania startups

Founders Bridge

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Investment focus

  • Industry: Internet, SaaS, Beauty
  • Stage:Seed, Pre-Seed
  • Geography: Romania, United States

Investor stats

  • Total investments: 4
  • Round size: Seed $347k–$725k; Pre-Seed $135k–$450k
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Mero — Mero is a hassle-free appointment platform for hair and beauty in Romania.
  • SanoPass — SanoPass is a medical service providers to sell preventive medical packages to firms
  • Product Lead — Shorten the path from SKU discovery to buy, using Flaminjoy's all-in-one UGC marketing platform. Make data-based decisions for your content to increase ROI.
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Mozaik Investments
VC Fund · Bucharest, Bucuresti, Romania · 2 investments in Romania startups

Mozaik Investments offers flexible growth financing to small and medium-sized enterprises with unique qualities and exceptional leadership.

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Investment focus

  • Industry: Apps, FinTech, Payments
  • Stage:Series A
  • Geography: Romania

Investor stats

  • Total investments: 2
  • Round size: Series A $2.5M–$2.5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Pago — Managing and paying utility bills, insurance, mobile top-ups and taxes takes too much time for many households in Europe. Pago simplifies these payments by adding automation where possible, using integrations with billers, insurers and online platforms to dramatically reduce the time needed for all these payments. The service is available in theB2C app called Pago and through B2B integrations by embedding Pago features in partner apps through SDK or API. Pago's services are used by over 500k monthly active users in Romania, Poland and Italy.
  • Pago — Pago develops a digital payments platform that allows users to manage and pay household expenses through a mobile application. The company provides bill payment services for utilities, insurance, taxes, mobile prepaid recharges, road tolls, and travel-related services within a unified interface. Its platform supports account aggregation, automaticbill retrieval, payment scheduling, and notification tools that help users organize recurring financial obligations. Pago also integrates with banking and financial service applications to extend payment capabilities across partner ecosystems. The company includes transaction history, account management, and digital document storage features to support personal finance tracking and payment administration. In addition, Pago uses encrypted communications and secure payment processing technologies to support data protection and digital transaction security for consumers and partner platforms.
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Zeyshare Ventures
VC Fund · Bucharest, Bucuresti, Romania · 2 investments in Romania startups

Zeyshare Ventures provides venture capital investments in early & growth stage technology startups across Romania and the Central & South Eastern Europe region, as well as venture building services. Zeyshare Ventures | venture capital & venture building

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Investment focus

  • Industry: Internet, News, E-Commerce
  • Stage:Seed, Series A
  • Geography: Romania, United States, United Arab Emirates

Investor stats

  • Total investments: 12
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • Five FS — Five FS offers five financial services: loans, mortgages, deposits, insurance and leasing, by pitting financial institutions against each other in a bidding process.
  • Bidvilla — Bidvilla is a bidding platform for home buyers and homeowners.
  • TechRadarRO — TechRadar.ro is a news aggregator platform focused on the Romanian content market.
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Bravva Angels
VC Fund · Bucharest, Bucuresti, Romania · 2 investments in Romania startups

A community of business angels, driven by the desire to invest with high impact for a better life.

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Investment focus

  • Industry: Impact Investing, Wealth Management, Financial Services
  • Stage:Pre-Seed
  • Geography: Romania

Investor stats

  • Total investments: 2
  • Round size: Pre-Seed $407k–$765k
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Jobful — Build engaged talent pipelines with AI-powered recruitment. Reduce cost per hire by 35%, shift from reactive to strategic hiring. Trusted by enterprise leaders.
  • Vestinda — Vestinda is the platform that provides investments in digital assets. Their features are portfolio tracking, crypto portfolio tracking, strategy libraries,crypto investment strategies,strategy builders, trading strategies built with no code, backtesting backtested crypto trading strategies,demo trading,crypto paper trading, and risk-free livetrading.
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I.F.N.
VC Fund · 2 investments in Romania startups

Investor

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Investment focus

  • Industry: Grocery, Home Services, Delivery Service
  • Stage:Seed, Pre-Seed
  • Geography: Romania

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Bobnet — AUTOMATED IOT & AI NET OF STORES AND LOGISTIC TERMINALS - the fastest access to food and grocery products for immediate consumption. Purpose: to develop one of leading positions in emerging SuperConvenience Food & Grocery market in Europe by operating own chains and providing diverse turn-key Solutions to retail operators
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Portfolion
VC Fund · Budapest, Budapest, Hungary · 2 investments in Romania startups

​Portfolion is a USD 800M AUM VC firm investing from pre-seed to series B, from its second- and third-generation funds. Our ticket sizes range from EUR 0.5M to EUR 3M at pre-seed and seed, and EUR 5M to EUR 40M at growth stage. We aim to be the first or second investors of CEE's most ambitious founders — those determined to build companies that shape industries — with the belief that exceptional people with unreasonable commitment tend to find a way. Our multi-stage fund structure allows us to form long-term partnerships with entrepreneurs and support them consistently and flexibly at every stage of their journey.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A, Series B
  • Geography: Hungary, Poland, United States

Investor stats

  • Total investments: 78
  • Round size: Seed $550k–$6.6M; Series A $1.6M–$13M; Series B $4M–$45M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: May invest from a new fund soon — raised $82M in 2020

Portfolio highlights

  • Kodesage — Kodesage captures your company's collective knowledge to help understand and modernize legacy code
  • Mobilfox — Mobilredfox offers phone cases and mobile accessories, focusing on protection and style for smartphones.
  • GymBeam — We are a fitness e-commerce platform with sports nutrition, premium services, and fair prices. We offer a wide range of nutritional supplements and advanced foods.
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Eleven Ventures
VC Fund · Sofia, Grad Sofiya, Bulgaria · 2 investments in Romania 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, E-Commerce, Information Technology
  • Stage:Seed, Convertible Note, Pre-Seed
  • Geography: Bulgaria, United States, United Kingdom

Investor stats

  • Total investments: 212
  • Round size: Seed $28k–$2.3M; Pre-Seed $55k–$1.1M; Convertible Note $28k–$120k
  • Lead/follow: 31% lead, 69% 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 automates B2B orders for FMCG wholesalers and distributors. Revenue uplift of up to 30%, live in under a week. No new apps, no change for your accounts.
  • Blue Longevity — Expert care for a healthier, longer life. Opening soon Athens | Istanbul | Sofia
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Impact Ventures Hungary
VC Fund · Budapest, Budapest, Hungary · 2 investments in Romania startups

Impact Ventures is a specialist fund manager focusing on Impact Investments. Our mission is to catalyze social impact by supporting and investing in high-growth social SMEs in Europe, addressing areas of social inclusion, education, employment, health and environmental sustainability.

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Investment focus

  • Industry: Software, Artificial Intelligence, Agriculture
  • Stage:Seed, Pre-Seed
  • Geography: Hungary, Spain, Italy

Investor stats

  • Total investments: 20
  • Round size: Seed $902k–$4.6M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Prosoma — Prosoma was born out a need to provide more comprehensive care for cancer patients. We have found a fundamental lack of access to psychological care for patients who not only have to face a life-altering disease and treatment, but also crucially have a different set of needs than other psychological patients. Barriers to accessing psychologicalcare often include low numbers of therapists and clinicians in the area, financial or geographical limitations, and the general wellbeing of patients preventing them from attending meetings. All of these issues can be solved by modern technology.By using VR as part of, or when necessary, an alternative to traditional psychological treatment, we can reach patients that would otherwise be left without any support. They can use our tool at home or in the clinics whilst undergoing pharmacological treatment and chemotherapy.We hope to provide patients with a tool that will help them manage stress, cope with the burden of cancer, and eventually improve their quality of life.
  • Doctor.One — Doctor.One is a chronic care platform that empowers healthcare professionals to stay connected with their patients through continuous, asynchronous communication. By transforming care into a relationship-driven experience beyond the visit, we help improve engagement, boost adherence, and ensure that no chronic patient feels alone in their healthjourney.
  • VoicePatrol — VoicePatrol provides real-time voice chat protection, detecting and acting on severe toxicity and illegal activity for online communities.
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Global Founders Capital
VC Fund · Berlin, Berlin, Germany · 2 investments in Romania startups

Over the past two decades, GFC have backed over five hundred entrepreneurs worldwide, e.g. Facebook, LinkedIn, Slack, and Away Travel.

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Investment focus

  • Industry: Financial Services, Software, FinTech
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Germany, United Kingdom

Investor stats

  • Total investments: 1121
  • Round size: Seed $1.2M–$8.8M; Pre-Seed $575k–$5M; Series A $5M–$30M
  • Lead/follow: 25% lead, 75% follow
  • Last fund: May invest from a new fund soon — raised $2B in 2018

Portfolio highlights

  • Benford — Benford is a modern, licensed audit firm that provides technology-driven statutory audit services using its custom software, AuditOS.
  • Primo — A birdseye view of your IT.
  • sevDesk — Deutschlands beliebteste Buchhaltungssoftware: Rechnungen& Angebote erstellen, Buchhaltung erledigen, Kunden- &Lagerverwaltung u.v.m.
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Simple Capital
VC Fund · 2 investments in Romania startups

Simple Capital

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Investment focus

  • Industry: Mobile Apps, Fitness, Software
  • Stage:Seed, Pre-Seed
  • Geography: Romania, United States

Investor stats

  • Total investments: 4
  • Round size: Seed $608k–$1.1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Milluu — Helping places become homes! Milluu is the app that gets personal, relevant and smart about rent.We believe that things are done properly when you're personally invested. And we invest our technology & smart tools to help you find your next home or your next ideal tenant!We have created a service app that connects directly listers andtenants based on their preferences.Based on AI and ML, our Milluu Bot is the friendly face of the app, assisting you permanently in your rental journey, making suggestions for great matches and helping you close the deal.
  • Neobility — Neobility offers mobility solutions services.
  • Hyperhuman — Create, personalize, and deliver science-informed workouts across app, web, API, and branded member apps. Your product. Our infrastructure.
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Blueberry Muffin
VC Fund · 2 investments in Romania startups

Blueberry Muffin invests in pre-seed, seed and small cap. We prefer technologically enabled business. We are not a technology investment fund.

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Investment focus

  • Industry: Grocery, E-Commerce, Food and Beverage
  • Stage:Seed, Pre-Seed
  • Geography: Romania

Investor stats

  • Total investments: 2
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • KooKoo Grocery — KooKoo Grocery este un magazin online care livreaza rapid din depozitele proprii in 1-2h in Bucuresti si Ilfov, seara si in weekend. Livrare next day pentru celelalte orase din Romania.
  • Merken food & drinks — We are a CPG company focused onn hip brands
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European Union
VC Fund · London, England, United Kingdom · 2 investments in Romania startups, 32 in the past 12 months

European.eu is the official website of the European Union. It is a good starting point if you are looking for information and services provided by the EU but you don't know your way around their sites. The European Union is a unique economic and political union between 28 EU countries that together cover much of the continent.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Grant, Seed, Pre-Seed
  • Geography: Germany, United Kingdom, United States

Investor stats

  • Total investments: 231
  • Round size: Seed $21k–$5.4M; Grant $64k–$28M; Pre-Seed $40k–$2.2M
  • Lead/follow: 64% lead, 36% follow

Portfolio highlights

  • Helbio — Helbio specializes in development, manufacturing and marketing of Hydrogen and Energy Systems, either for industrial use or integrated with fuel cells for Combined Heat and Power (CHP) production.
  • Resolutiion — Resolutiion provides AI-powered software for managing commercial conflict, delivery risk, and business relationship performance. The platform supports organizations with dispute detection, workflow automation, contract monitoring, issue resolution, and operational risk management across customers, suppliers, workforce teams, and commercialpartnerships. Its system uses AI-driven analysis to identify relationship friction, monitor delivery performance, and support structured resolution processes. Resolutiion also provides commercial intelligence tools, reporting, and collaboration features for enterprise delivery and governance management.
  • Sensible Biotechnologies — Engineering cells to make better mRNA.
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bValue Fund
VC Fund · Warszawa, Mazowieckie, Poland · 2 investments in Romania startups

bValue Fund is a specialized growth equity investment firm partnering with tech, tech-enabled, and innovation-driven businesses in Central and Eastern Europe. Managing a growth equity fund, bValue focuses on providing growth capital to ambitious entrepreneurs in the CEE region. The fund prioritizes fostering innovation and digitalization, offeringregional category leaders seeking international growth a unique blend of strategic and tactical support.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Poland, United States, Germany

Investor stats

  • Total investments: 65
  • Round size: Seed $265k–$2M; Pre-Seed $1M–$5M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: Likely still investing — raised $93M in 2022

Portfolio highlights

  • Demoboost — A product demo software for revenue teams to improve buyer experience, supercharge journeys, and scale go-to-market without any hassle. Try it now!
  • Sportano.pl — Sportano is the world of multi-brand sports at the greatest level. Everybody may find a discipline they enjoy, which is why all of your favorite brands are accessible right now in one convenient location!
  • Xtreme Brands — Xtreme Brands is a Polish fitness franchise, operating fitness clubs for adults and children.
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Investor funding in Romania at a glance

Stats across 610 deals from 403 investors.

403
investors
in Romania startups
610
deals
in Romania startups
$550k
median round
in Romania startups
51%
lead investors
lead at least one round
27%
Seed
most common funding stage
80/20
VC / Angel
share of investor count

Access all 403 investors in Romania startups.

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