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Top 50 Startup Investors in Serbia (July 2026)

The most active venture capital funds and angel investors investing in Serbia startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Serbia startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
European Bank for Reconstruction and Development
VC Fund
14 Turkey, Egypt, Ukraine Debt Financing, Post-IPO Debt Financial Services, Banking, Finance $5M–$238M
South Central Ventures
VC Fund
10 United States, United Kingdom, Serbia Seed, Pre-Seed, Series A Software, Artificial Intelligence, SaaS $33k–$5.5M
Credo Ventures
VC Fund
5 United States, United Kingdom, Czech Republic Seed, Series A, Pre-Seed Software, Artificial Intelligence, Information Technology $371k–$19M
Eleven Ventures
VC Fund
5 Bulgaria, United States, United Kingdom Seed, Convertible Note, Pre-Seed Software, SaaS, Information Technology $27k–$2.7M
SMOK Ventures
VC Fund
4 Poland, United States, Ukraine Seed, Pre-Seed Software, Information Technology, SaaS $54k–$4.4M
Underline Ventures
VC Fund
4 Romania, United States, Serbia Seed, Pre-Seed, Series A Software, Machine Learning, E-Commerce $865k–$19M
Fortech Investments
VC Fund
3 Romania, Serbia, Austria Seed, Pre-Seed Software, Health Care, Manufacturing $135k–$1.5M
SeedBlink
VC Fund
3 Romania, United States, United Kingdom Seed, Pre-Seed, Series A Software, SaaS, Information Technology $137k–$35M
Fiedler Capital
VC Fund
3 Hungary, Latvia, Serbia Seed, Pre-Seed, Series A Software, Information Technology, Mobile Apps $154k–$4M
Earlybird Venture Capital
VC Fund
3 Germany, United States, United Kingdom Series A, Seed, Series B Software, Information Technology, Artificial Intelligence $1.4M–$75M
Tihomir Bajic
Angel
2 Serbia, Canada, United States Seed, Pre-Seed, Series B Software, CRM, Sales $800k–$5M
Maven 11 Capital
VC Fund
2 United States, United Kingdom, Canada Seed, Series A, Pre-Seed Blockchain, Financial Services, Cryptocurrency $525k–$43M
Version One Ventures
VC Fund
2 United States, Canada, United Kingdom Seed, Series A, Series B Software, Internet, Blockchain $1.4M–$55M
Tokonomy
VC Fund
2 Serbia Seed, Pre-Seed Web3, Internet, Web Design
Point Nine
VC Fund
2 Germany, United States, France Seed, Series A, Series B Software, SaaS, Internet $900k–$62M
KR1
VC Fund
2 United States, United Kingdom, Switzerland Seed, Series A Blockchain, Internet, Cryptocurrency $100k–$43M
Xenia Muntean
Angel
2 Serbia, Slovenia Seed Software, E-Commerce, Manufacturing $1.2M–$1.5M
Crew Capital
VC Fund
1 United States, United Kingdom, Brazil Seed, Series A, Series B Software, SaaS, Information Technology $3.5M–$94M
Beam
VC Fund
1 United States, United Kingdom, Vietnam Seed, Series A Gaming, Blockchain, Video Games $1.5M–$225M
Eric Ries
Angel
1 United States, Serbia, Australia Seed, Series A, Pre-Seed Software, Internet, SaaS $40k–$14M
Kangaroo Capital
VC Fund
1 India, Serbia, Sweden Seed, Series A Blockchain, Cryptocurrency, Gaming $1.2M–$5M
Mark Zaleski
Angel
1 United Kingdom, United States, France Seed, Angel, Series B Software, E-Commerce, DSP $200k–$3.6M
Moonfire Ventures
VC Fund
1 United Kingdom, United States, France Seed, Series A, Pre-Seed Software, Artificial Intelligence, Information Technology $500k–$25M
Fansara
VC Fund
1 Serbia Seed Web3, Internet, Web Design
Euroventures
VC Fund
1 Hungary, United Kingdom, United States Series A, Seed Software, Information Technology, E-Commerce
Catalyst Romania
VC Fund
1 Romania, United Kingdom, Serbia Seed, Series B Software, Retail, FinTech
Sergey Budyakov
Angel
1 Serbia, United States Pre-Seed Beauty, Chatbot, Artificial Intelligence $30k–$30k
Iulian Circiumaru
Angel
1 Serbia, Romania Seed Retail, Software, Wine and Spirits $965k–$1.2M
vVv
VC Fund
1 Serbia, Singapore Seed, Pre-Seed Blockchain, Gaming, Generative AI
Funders
VC Fund
1 United States, United Arab Emirates, Serbia Seed, Series F FinTech, Financial Services, Apps $354k–$3.5M
Stefan Glänzer
Angel
1 United Kingdom, Germany, United States Seed, Angel, Series A FinTech, Financial Services, Social Media $197k–$14M
Avalanche
VC Fund
1 United States, France, Singapore Seed, Grant, Series A Blockchain, Cryptocurrency, Gaming $1.5M–$70M
SWGI ventures
VC Fund
1 Serbia Seed Blockchain, Gaming, Cryptocurrency $1.1M–$1.9M
Robert Dighero
Angel
1 United Kingdom, Serbia, Sweden Seed, Angel, Series A FinTech, Financial Services, Payments $223k–$6.5M
Daniel Dines
Angel
1 United States, Germany, United Kingdom Series A, Seed, Series B Software, SaaS, Artificial Intelligence $1.9M–$55M
Ronyp Kahan
Angel
1 United States, United Kingdom, Serbia Seed, Series B, Series A Software, SaaS, B2B $635k–$27M
Tenzor Capital
VC Fund
1 Canada, United States, United Kingdom Seed, Pre-Seed Blockchain, Cryptocurrency, Software $1M–$8.5M
European Union
VC Fund
1 Germany, United Kingdom, United States Grant, Seed Software, Information Technology, Health Care $16k–$28M
Script Capital
VC Fund
1 United States, France, Serbia Seed, Series B Software, Apps, Billing $1.3M–$7M
Charlie Songhurst
Angel
1 United Kingdom, United States, Germany Seed, Pre-Seed Software, Information Technology, Artificial Intelligence $500k–$8M
Purechain Capital
VC Fund
1 Serbia, Singapore, United States Seed, Pre-Seed Blockchain, Cryptocurrency, Web3 $1.1M–$5.2M
Ivan Bjelajac
Angel
1 Serbia Seed Internet, Software, Blockchain
V7 Capital
VC Fund
1 Serbia Seed Software
Blockchain Capital
VC Fund
1 United States, United Kingdom, Singapore Seed, Series A Blockchain, Cryptocurrency, Financial Services $1M–$40M
John Lilic
Angel
1 India, France, Sweden Seed, Angel Blockchain, Internet, Software $375k–$8M
ICT Hub Venture
VC Fund
1 Serbia, Germany Pre-Seed, Seed B2B, Software, Web Design $33k–$55k
CARBYN GROUP
VC Fund
1 Serbia, United States Pre-Seed FinTech, Blockchain, B2B
F6 Ventures
VC Fund
1 Egypt, United Arab Emirates, Saudi Arabia Seed, Pre-Seed Software, E-Commerce, Information Technology $15k–$1.5M
Accel
VC Fund
1 United States, India, United Kingdom Series A, Series B, Seed Software, SaaS, Information Technology $1.6M–$74M
Vlad Ionescu
Angel
1 United States, Serbia, Romania Seed, Series A B2B, Software, Cyber Security $212k–$7M
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

European Bank for Reconstruction and Development
VC Fund · London, England, United Kingdom · 14 investments in Serbia 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, Finance
  • Stage:Debt Financing, Post-IPO Debt
  • Geography: Turkey, Egypt, Ukraine

Investor stats

  • Total investments: 436
  • Round size: Post-IPO Debt $14M–$238M; Debt Financing $5M–$200M
  • Lead/follow: 75% lead, 25% follow

Portfolio highlights

  • Ford Otosan — Ford Otosan is a publicly traded company that manufactures, assembles, imports, exports, and sells motor vehicles and spare parts. The company provides commercial, transit and transit custom, and transit courier vehicles, and cargo trucks, as well as engines and powertrain products for trucks and transit vehicles.Ford Otosan was founded on 1959and is headquartered in Istanbul, Turkey.
  • 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.
  • OTE Group of Companies — OTE Group is the technology company.They offers the full range of telecommunications services: from fixed-line and mobile telephony, broadband services, to pay television and integrated ICT solutions. In addition to its core telecommunications activities, the Group in Greece is also involved in maritime communications, real-estate and professionaltraining. Abroad, the Group operates in the telecommunications market of Romania, where it offers fixed-line and mobile communications, as well as television services.
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South Central Ventures
VC Fund · Belgrade, Vojvodina, Serbia · 10 investments in Serbia startups

South Central Ventures is dedicated to investments in startups, small and medium globally oriented technology companies in SE Europe.

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Investment focus

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

Investor stats

  • Total investments: 61
  • Round size: Seed $219k–$2.8M; Pre-Seed $33k–$2M; Series A $329k–$5.5M
  • Lead/follow: 59% lead, 41% follow
  • Last fund: Likely still investing — raised $82M in 2022

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!
  • Katalist — KatalistAI is a design assistant that unleashes your marketing and design potential. Driven by cutting-edge AI, it streamlines your creative process, elevates your ideas, and amplifies productivity.
  • City Expert — City Expert Global is a Serbian startup that introduces new technologies and business approach to the traditional real estate sector. It focuses on creating new standards in the advertising and agency real estate sector. City Expert Global was founded in 2015 by Darko Luković, Stefan Stojanović, and Igor Jović. It is based in Belgrade, Serbia.
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Credo Ventures
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 5 investments in Serbia 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: 150
  • Round size: Seed $800k–$7M; Pre-Seed $371k–$10M; Series A $2M–$19M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • 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.
  • Segron — From Network Engineering , where new services and components need active testing via Rollout and Installation , to ensure correct functionality after...
  • Delta Green — Aggregating household assets in large controllable block of flexibility.
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Eleven Ventures
VC Fund · Sofia, Grad Sofiya, Bulgaria · 5 investments in Serbia startups

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

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Investment focus

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

Investor stats

  • Total investments: 145
  • Round size: Seed $27k–$2.7M; Pre-Seed $219k–$800k; Convertible Note $27k–$121k
  • Lead/follow: 38% lead, 62% 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.ai is an AI‑powered B2B sales platform focused on fast‑moving consumer goods (FMCG), positioning itself as an “ordering and communication layer” between brands and their distribution networks.
  • Blue Longevity — Blue Longevity is a supplier of longevity medicine that offers evidence-based, individualized, and integrated approaches to improve longevity and encourage good aging. It uses digital coaching in conjunction with state-of-the-art diagnostics, lifestyle medicine, and regenerative therapies to develop customized workout, stress-reduction, and dietplans.
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SMOK Ventures
VC Fund · Warsaw, Mazowieckie, Poland · 4 investments in Serbia startups

Bridging Silicon Valley to CEE

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Investment focus

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

Investor stats

  • Total investments: 74
  • Round size: Seed $439k–$4.4M; Pre-Seed $54k–$1.4M
  • Lead/follow: 53% lead, 47% follow
  • Last fund: Likely still investing — raised $25M in 2024

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.
  • Primio — Primio is an AI-powered platform that generates production-ready native mobile apps from natural language prompts. It outputs real Flutter/Dart code that compiles to native iOS and Android with pixel-perfect rendering and up to 120fps performance. The platform covers the full lifecycle from idea to app store submission, including cloud builds,live preview, and iterative editing. Built for app studios and serious builders who need to ship native apps fast.
  • Quantum Flytrap — We create user interfaces for quantum computers - for software enginers to design, debug, unit-test and deploy quantum algorithms.
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Underline Ventures
VC Fund · Bucharest, Bucuresti, Romania · 4 investments in Serbia startups

We underline founders.

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Investment focus

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

Investor stats

  • Total investments: 19
  • Round size: Seed $1.2M–$5.5M; Pre-Seed $865k–$2M; Series A $14M–$19M
  • Lead/follow: 16% lead, 84% follow

Portfolio highlights

  • Almetra — We use computer vision and AI analytics to provide insights into manual assembly processes - our platform supports process engineers in driving productivity and quality of assembly processes
  • Bible Chat — Bible Chat is the best Christian AI app that lets you talk to the Bible, ask faith questions, request prayers, and study Scripture. Try now for free!
  • DesignVerse — DesignVerse is an AI platform that develops enterprise software using company documentation and internal rules.
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Fortech Investments
VC Fund · 3 investments in Serbia 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, Health Care, Manufacturing
  • Stage:Seed, Pre-Seed
  • Geography: Romania, Serbia, Austria

Investor stats

  • Total investments: 12
  • Round size: Seed $135k–$1.5M
  • Lead/follow: 50% lead, 50% 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.
  • SaleSqueze — Premade 3D configurators for outdoor living products, ready to go live in 7 days. Sell more through your website or dealer network.
  • 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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Fiedler Capital
VC Fund · Vienna, Wien, Austria · 3 investments in Serbia startups

We are a first check investor helping overlooked founders from peripheral European ecosystems defy the odds and create breakout companies.

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Investment focus

  • Industry: Software, Information Technology, Mobile Apps
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Hungary, Latvia, Serbia

Investor stats

  • Total investments: 21
  • Round size: Seed $965k–$4M; Pre-Seed $154k–$1.5M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • AgroSync — Uncover hidden profits. Use field data to boost returns this season
  • RivalSense — Monitor competitors of your startup. Receive curated weekly updates.
  • Trace.Space — Engineers develop complex products 10x faster with Trace.Space. Requirements management for the next generation
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Earlybird Venture Capital
VC Fund · Berlin, Berlin, Germany · 3 investments in Serbia startups

Founded in 1997, Earlybird is a pan-European VC investor backing tech-enabled companies and investing in their growth and development. Funds include Earlybird, Earlybird Health, Growth Opportunities.

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Investment focus

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

Investor stats

  • Total investments: 347
  • Round size: Seed $1.4M–$14M; Series A $4.4M–$35M; Series B $6M–$75M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely still investing — raised $190M in 2024

Portfolio highlights

  • Curio — Be one of the first to access Rio, the leading AI for fact-checked news. Free for early users.
  • Certivity — Certivity offers software to model digital regulatory twins of their products. This will ensure that current regulatory requirements are integrated in the right place in the engineering process. Product compliance will be smarter, safer, more transparent, more efficient, and significantly cheaper.
  • Brightpick — Brightpick offers AI robots for warehouses to easily automate every step of their order fulfillment. The innovative Brightpick robots enable warehouses of any size to fully automate order picking, consolidation and dispatch, as well as stock replenishment. Brightpick Autopicker, the company’s award-winning flagship robot, is the only mobile robotin the world that robotically picks and consolidates orders directly in warehouse aisles. The Brightpick solution takes just weeks to deploy and allows companies to reduce their fulfillment labor to a minimum. Headquartered near Cincinnati, OH, Brightpick has more than 200 employees and hundreds of AI robots deployed across the US and Europe.
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Access 48,091 investors

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

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Tihomir Bajic
Angel · Toronto, Ontario, Canada · 2 investments in Serbia startups

Tihomir Bajic is the CEO of LTSE Software.

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Investment focus

  • Industry: Software, CRM, Sales
  • Stage:Seed, Pre-Seed, Series B
  • Geography: Serbia, Canada, United States

Investor stats

  • Total investments: 5
  • Round size: Seed $3.1M–$5M; Pre-Seed $800k–$814k
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Tenderly — Ethereum developer platform that enables you to build innovative blockchain products.
  • LeadDelta — LeadDelta aspires to be a single workspace for your company’s relationships. As B2B professionals, whether you are fundraising, hiring, marketing, or selling, your chances of success grow exponentially when you do it collaboratively across the team to build one integrated and cross-referenced professional network.
  • Orgnostic — Orgnostic is the human capital analytics platform for startups. Orgnostic provides investors and leadership teams with high-quality organizational insights that link organizational dynamics with companies’ bottom lines, creating better and more sustainable businesses for the new economy.
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Maven 11 Capital
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 2 investments in Serbia startups, 18 in the past 12 months

Maven 11 is a global blockchain and digital asset investment firm. The teams we partner with are on a rigorous quest to solve most exciting problems and make the necessary shift towards decentralised tomorrow.

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Investment focus

  • Industry: Blockchain, Financial Services, Cryptocurrency
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, United Kingdom, Canada

Investor stats

  • Total investments: 128
  • Round size: Seed $1.9M–$10M; Pre-Seed $525k–$3.1M; Series A $5M–$43M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Range — Range is the platform for companies operating across stablecoins and fiat. Finance, compliance, and operations teams use Range to bring bank accounts, custodians, wallets, and exchanges into a single real-time ledger, with controls to screen, protect, and reconcile capital before and after it moves.Range supports pre-execution controls forsanctions, fraud, and operational risk, while feeding enriched onchain data into the accounting and compliance tools teams already use. The platform secures more than $30B in onchain assets and tracks 99.41% of stablecoin payment activity across 200+ networks and 100+ stablecoins.Range is used by teams including the Solana Foundation, Circle, Stellar, Squads, and Jupiter. Learn more at range.org.
  • Polysights — Polysights is an AI-powered prediction market analytics and automation platform that delivers market intelligence and trade execution tools.
  • Adjacent Markets — Adjacent Markets is a project that builds prediction market indices.
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Version One Ventures
VC Fund · Vancouver, British Columbia, Canada · 2 investments in Serbia startups

Version One Ventures backs mission-driven founders at the earliest stages. Full thesis here: https://versionone.vc/updated-thesis/

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Investment focus

  • Industry: Software, Internet, Blockchain
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 145
  • Round size: Seed $1.4M–$5.8M; Series A $4M–$21M; Series B $8M–$55M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Swoop — Swoop operates as an internet marketplace platform that provides food delivery services while building a broader consumer super-app ecosystem. The company connects users with restaurants through a mobile and digital platform, enabling customers to browse menus, place orders, and receive deliveries via an independent rider network. Its deliverymodel relies on third-party couriers who fulfill orders, while the platform coordinates transactions, routing, and customer interactions. The company generates revenue through restaurant commissions and service fees applied to customer orders, rather than directly employing delivery personnel.
  • Roost — Founded in early 2019 and based in Toronto, Roost is building the ultimate end-to-end rental platform to make long-term renting as streamlined as booking a hotel. Focused on Gen Z and Millennial renters, we're leveraging data and hyper-personalization to create innovative real estate and financial technology products to empower the moderntenant and landlord to rent better.We're backed by leading venture capital firms including Version One Ventures, Panache Ventures, and Union Capital, as well as several angel investors including the co-founder of Dayforce and a former executive at Uber.We’re passionate about technology and its impacts on the real world and envision a future where home is never more than a few clicks away. Let's help the world rent better - join us!
  • Arctus Aerospace
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Tokonomy
VC Fund · London, England, United Kingdom · 2 investments in Serbia startups

Tokonomy investing in blockchain and the token economy and focus on early stage investments and Web3 infrastructure.

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Investment focus

  • Industry: Web3, Internet, Web Design
  • Stage:Seed, Pre-Seed
  • Geography: Serbia

Investor stats

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

Portfolio highlights

  • Superchain Network — The Open Index Protocol - By collecting and customising data in minutes, Superchain serves as the layer on top of which builders create applications, faster
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Point Nine
VC Fund · Berlin, Berlin, Germany · 2 investments in Serbia startups

Point Nine Capital is a Berlin-based venture capital firm focused exclusively on early-stage Internet investments in areas like Software-as-a-Service (SaaS), online marketplaces, and mobile.The fund and its managers, Pawel Chudzinski and Christoph Janz have backed a number of highly successful Internet companies such as Delivery Hero, Clio,Shiftplanning, Vend, Typeform, and Zendesk from their earliest stages.

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Investment focus

  • Industry: Software, SaaS, Internet
  • Stage:Seed, Series A, Series B
  • Geography: Germany, United States, France

Investor stats

  • Total investments: 260
  • Round size: Seed $900k–$7.7M; Series A $3.2M–$24M; Series B $10M–$62M
  • Lead/follow: 34% lead, 66% follow

Portfolio highlights

  • Sereact — The only real-world verified Vision-Language-Action AI. Proven at scale. Trained on the world's largest dataset of robotic picks.
  • Delivery Hero — Delivery Hero is the world's leading local delivery company. We are on a mission to deliver an amazing experience - fast, easy, and to your door.
  • Polar Analytics — Your Shopify Analytics. Effortless. Centralized. Smart. Connect your datasource in one clic, automatically calculate KPIs. Visualize them all in one place. Get alerts and recommendations in realtime
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KR1
VC Fund · Douglas, NA - Isle of Man, Isle of Man · 2 investments in Serbia startups

KR1 is a publicly listed investment company focussed on the blockchain ecosystem. We invest in early stage projects and blockchain-based digital assets.

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Investment focus

  • Industry: Blockchain, Internet, Cryptocurrency
  • Stage:Seed, Series A
  • Geography: United States, United Kingdom, Switzerland

Investor stats

  • Total investments: 49
  • Round size: Seed $100k–$6M; Series A $2.5M–$43M
  • Lead/follow: 39% lead, 61% follow

Portfolio highlights

  • Avail — Avail creates a unified onchain economy by connecting users, apps, and liquidity across chains. Build with Avail and redefine how value moves and scales onchain.
  • Code & State — Code & State is a venture studio building and scaling stablecoin ventures.
  • Mode Network — Mode Network is a DeFi blockchain platform that builds new on-chain economic systems to enable developers to scale their applications.
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Xenia Muntean
Angel · San Francisco, California, United States · 2 investments in Serbia startups

Xenia Muntean is a tech entrepreneur, passionate about all things social media. She is co-founder and CEO at Planable.

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Investment focus

  • Industry: Software, E-Commerce, Manufacturing
  • Stage:Seed
  • Geography: Serbia, Slovenia

Investor stats

  • Total investments: 3
  • Round size: Seed $1.2M–$1.5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • SaleSqueze — Premade 3D configurators for outdoor living products, ready to go live in 7 days. Sell more through your website or dealer network.
  • Collabwriting — Collabwriting is a simple browser extension that helps you share, comment and collaborate on content you find online
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Crew Capital
VC Fund · New York, New York, United States · 1 investments in Serbia startups

Crew Capital is a venture capital firm investing in entrepreneurs building category-defining technology companies.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: United States, United Kingdom, Brazil

Investor stats

  • Total investments: 44
  • Round size: Seed $3.5M–$12M; Series A $10M–$41M; Series B $10M–$94M
  • Lead/follow: 16% lead, 84% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • Dentronic
  • Qualitate — Qualitate provides real-time expert intelligence for investment and strategy teams. Its AI moderator streamlines the entire primary research workflow—from study design and expert recruitment to interview moderation and insight generation. Trusted by the world's leading enterprises, investment firms, and asset managers.
  • Membrane — Integrate any API instantly. Keep integrations working as things change. Membrane is agentic integration infrastructure with unlimited API coverage.
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Beam
VC Fund · Gibraltar, Gibraltar, Gibraltar · 1 investments in Serbia startups

We are a decentralized autonomous organization on a mission to revolutionize gaming. Join us as we build the metaverse by empowering people to be a part of it.

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Investment focus

  • Industry: Gaming, Blockchain, Video Games
  • Stage:Seed, Series A
  • Geography: United States, United Kingdom, Vietnam

Investor stats

  • Total investments: 57
  • Round size: Seed $1.5M–$10M; Series A $10M–$225M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • Qooverse — Qooverse is a Web3 gaming studio that creates fast-paced, win-to-earn mobile card games with a compelling gameplay loop. This involves developing an ecosystem of mid-core and casual social games for Telegram and future social platforms.
  • Aria — Aria is a role-playing game in which players can freely traverse an open world while experiencing the thrill of epic quests and combat.
  • Cold River Games — Crystalfall is an upcoming free online action RPG with customizable skills and an endless endgame, set in a steampunk world.
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Eric Ries
Angel · San Francisco, California, United States · 1 investments in Serbia startups

Eric Ries is the Founder and Executive Chairman of Long-Term Stock Exchange. He previously worked at Kleiner Perkins Caufield and Byers as a Venture Advisor. Eric Ries attended Yale University.

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Investment focus

  • Industry: Software, Internet, SaaS
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Serbia, Australia

Investor stats

  • Total investments: 67
  • Round size: Seed $500k–$6.1M; Pre-Seed $40k–$3.2M; Series A $1M–$14M
  • Lead/follow: 3% lead, 97% follow

Portfolio highlights

  • Augie Studio — Helping people make more compelling videos, at a fraction of the time and effort
  • Sinatra — Sinatra is a technology company that, with its all-in-one app, aims to revolutionize the hospitality industry. It provides Sinatra Training, which enables continuous digital training for employees by allowing employers to upload content and employees to access it via the app.
  • Harmony Intelligence — AI cybersecurity products that solve your AppSec, SecOps, and corporate security challenges.
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Kangaroo Capital
VC Fund · 1 investments in Serbia startups

Kangaroo Capital is a community driven blockchain and cryptocurrency venture capital that is dedicated to helping young startups and more established projects accelerate.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Gaming
  • Stage:Seed, Series A
  • Geography: India, Serbia, Sweden

Investor stats

  • Total investments: 20
  • Round size: Seed $1.2M–$5M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Solak — Solak is an AI browser and DeFi platform that is transforming the digital world.
  • STAGE — Always-on music competitions powered by the blockchain. Vote for your favorite artists and share their success.
  • KOKODI — KOKODI is a cross-chain, multi-platform MMO game that allows players to play with zero-knowledge cryptography.
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Mark Zaleski
Angel · London, England, United Kingdom · 1 investments in Serbia startups

Mark is an experienced Internet founder and executive. From 2000 to 2007, Mark was CEO for QXL ricardo, a leader of online consumer trading platforms. QXL was the best performing stock on the London Stock Exchange in 2005 and the LSE’s Main Market in 2004. It was sold for nearly £1 billion in 2007. He was also Chairman and CEO of Dailymotion from2007 to 2009. Under his leadership, the Company became the world’s number one independent video-sharing site with over 60 million unique visitors and 1 billion video views per month.Mark is an angel investor, non-Executive Director of Show My Homework, Dynistics and GoCardless and advisor to Spotahome. He has also invested in several other high-growth internet businesses across Europe such as QXL ricardo plc, Dailymotion, Emesa, Digitech, Shutl, Wave Optics, Chirp and Spotahome.

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Investment focus

  • Industry: Software, E-Commerce, DSP
  • Stage:Seed, Angel, Series B
  • Geography: United Kingdom, United States, France

Investor stats

  • Total investments: 9
  • Round size: Seed $200k–$3.6M; Angel $637k–$828k
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • RentCheck — RentCheck saves property managers time by allowing tenants to do their own inspections. 90% of customers save over 1 hour per inspection. Recommended by hundreds of property managers.
  • Arteli — Arteli is a predictive analytics platform using artificial intelligence and machine learning to improve store optimization to drive higher revenue and margin. It effortlessly connects executives with actionable insights, propelling their businesses towards transformation. It's not merely data; it's comprehension, informeddecision-making, and, ultimately, the catalyst for achieving revolutionary outcomes. With Arteli's AI Analytics Interface, you're not merely staying in sync with your business; you're forging ahead as its leader.
  • Team Satchel — Creators of market-leading software, Show My Homework, Satchel has developed a powerful range of school software focusing on homework, behavior, classroom management, and teaching resources.Show My Homework has been our brand and our main product since it was launched five years ago. Having seen our company grow to over 70 employees and evolvemultiple products and services, we wanted our brand to encompass everything we offer. Making the change from Show My Homework to Satchel allows us to do this and supports our vision for the future.As a brand, Satchel will provide schools around the globe with exceptional products and a service second-to-none that can be relied upon to help deliver the best learning experience.
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Moonfire Ventures
VC Fund · London, England, United Kingdom · 1 investments in Serbia startups, 9 in the past 12 months

At Moonfire, we team up with the most innovative early-stage founders to invest where our sectors of focus intersect with global technological disruption.

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Investment focus

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

Investor stats

  • Total investments: 61
  • Round size: Seed $2.3M–$8M; Pre-Seed $500k–$3.9M; Series A $11M–$25M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Mokn — Phish-back your credentials from attackers using contextualized deceptive technology.
  • Beglaubigt.de
  • Eunice — We are an AI fintech company solving B2B challenges in digital asset. Our first product is digital asset due diligence and monitoring to help financial institutions, regulators, and businesses navigate the complexities of the digital asset space. Powered by a proprietary knowledge base, Eunice’s platform enables token classification, risk analysis,and asset disclosure requirements. With a mission to bring transparency to the digital asset industry, Eunice builds products that drive regulatory clarity and operational efficiency, with the goal of accelerating the mainstream adoption of digital assets.
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Fansara
VC Fund · 1 investments in Serbia startups

Fansara is an investement firm.

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Investment focus

  • Industry: Web3, Internet, Web Design
  • Stage:Seed
  • Geography: Serbia

Investor stats

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

Portfolio highlights

  • Superchain Network — The Open Index Protocol - By collecting and customising data in minutes, Superchain serves as the layer on top of which builders create applications, faster
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Euroventures
VC Fund · Budapest, Budapest, Hungary · 1 investments in Serbia startups

Budapest-based Euroventures is one of the longest-established and leading independent private equity and venture capital firms in Central Europe, with a proven ability to achieve international exits over two decades in a fast-changing environment. It has advised or is advising five investment programmes totalling over €180m since 1989, with a focuson funding INNOVATION and GROWTH in Hungary and Central Europe. The investors in Euroventures funds have been international institutional Investors. Euroventures' nearly 50 current and former portfolio companies illustrate the commitment to provide steady support through the cycles of the regional and global economy. Its professional team members have many decades of private equity / venture capital experience between them. Recent investments have targeted growing businesses with innovative technologies in the fields of medtech, big data, security, and IoT among others. Euroventures has had an outstanding track record in supporting its portfolio companies entering global markets. As a result, it has delivered highly successful exits, including IPOs (Vienna, NASDAQ, NYSE) and several dozens of trade sales to international corporations. Euroventures is a founding member of the Hungarian Venture Capital Association and complies with the conduct, governing principles and valuation/reporting guidelines of Invest Europe.

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Investment focus

  • Industry: Software, Information Technology, E-Commerce
  • Stage:Series A, Seed
  • Geography: Hungary, United Kingdom, United States

Investor stats

  • Total investments: 28
  • Lead/follow: no public data

Portfolio highlights

  • Datapao — Discover DATAPAO's data consulting solutions in cloud migrations, data science, data engineering, AI & ML.
  • Daytrip — Daytrip is a platform for traveling with local drivers. It allows independent travelers to get the most out of their vacation by connecting them to local drivers, who drive them from one city to another with their own cars, discovering local sights and culture on the way.It gives travelers an opportunity to see otherwise unreachable countrysidesights, meet real locals and get to know local history, culture and current affairs first-hand. Daytrip is an entirely new approach to traveling, combining the comfort of package holidays with the flexibility of independent planning and authenticity of backpacking.
  • Hypefy — An influencer marketing platform built for brands that want to discover creators, run campaigns, and measure performance with ease.
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Catalyst Romania
VC Fund · Bucharest, Bucuresti, Romania · 1 investments in Serbia startups

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

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Investment focus

  • Industry: Software, Retail, FinTech
  • Stage:Seed, Series B
  • Geography: Romania, United Kingdom, Serbia

Investor stats

  • Total investments: 13
  • Lead/follow: no public data

Portfolio highlights

  • Adapta Robotics — Creating, designing, and manufacturing adaptable robotic products that support automation efforts and technological progress.
  • Footprints AI — Footprints is one of the most advanced AI-driven Retail Media platforms in the world, helping physical retailers generate a new high profit margin revenue in 3 months or less.Retail Media will be a $100 billion market by 2025. This means that 1 in 4 dollars in digital ad spend will be on media platforms that leverage intent-based customerbehavior data.Footprints is part of the global Microsoft Pegasus program, a cohort of 12 high-impact AI startups worldwide with the most viable solutions to transform the physical retail model into an AI-driven business model.Footprints' unique technology enables physical retailers to turn anonymous traffic into profitable, predictable audiences by leveraging our proprietary offline-to-online behavioral data fusion, artificial intelligence and algorithmic automation.Since 2017, Footprints has pioneered AI technologies that enable physical retailers to: - Enable an automated omnichannel retail media service - Become the brand of choice in local communities - Expand more profitably into new local communitiesFootprints is currently working with Tier 1 retailers and retail properties to transform their offline and online visitors into retail media.Every day, Footprints orchestrates and processes billions of visits, searches, and purchases from offline and online retail environments for YOU, to meet your customers' needs better than ever before. The result? A seamless shopping experience, more customers, more sales, and a new high profit margin revenue.Retail Media is the #1 priority for retailers everywhere, who can now offer personalized and curated content to their customers around the world.
  • .Lumen — .lumen builds glasses that help the blind live a better life.
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Sergey Budyakov
Angel · 1 investments in Serbia startups

Sergey Budyakov

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Investment focus

  • Industry: Beauty, Chatbot, Artificial Intelligence
  • Stage:Pre-Seed
  • Geography: Serbia, United States

Investor stats

  • Total investments: 2
  • Round size: Pre-Seed $30k–$30k
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • AI Beauty Bot — AI BEAUTY BOT is a 24/7 AI admin for beauty salons that automates client communication and bookings, ensuring no inquiries are missed and boosting your revenue effortlessly.
  • AI Beauty Bot — AI BEAUTY BOT is a 24/7 AI admin for beauty salons that automates client communication and bookings, ensuring no inquiries are missed and boosting your revenue effortlessly.
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Iulian Circiumaru
Angel · 1 investments in Serbia startups

Iulian Circiumaru is the co-founder of Benefit Seven.

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Investment focus

  • Industry: Retail, Software, Wine and Spirits
  • Stage:Seed
  • Geography: Serbia, Romania

Investor stats

  • Total investments: 4
  • Round size: Seed $965k–$1.2M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Zaganu — Zaganu is a beverage company that specializes in producing a variety of beers.
  • Collabwriting — Collabwriting is a simple browser extension that helps you share, comment and collaborate on content you find online
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vVv
VC Fund · Dubai, Dubai, United Arab Emirates · 1 investments in Serbia startups

All digital assets on one exchange

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Investment focus

  • Industry: Blockchain, Gaming, Generative AI
  • Stage:Seed, Pre-Seed
  • Geography: Serbia, Singapore

Investor stats

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

Portfolio highlights

  • Kindred — Kindred Labs is building the default interface for human–AI interaction — always-on, trusted companions that unify productivity, commerce, and emotional connection into a single relationship. As the only AI company officially trusted by 25+ iconic IPs, including Sanrio, Warner Bros., LINE Friends, and Pudgy Penguins, Kindred Labs sits on a uniquecultural and distribution moat powered by billions of existing fans worldwide.Kindred’s growth has been consistently explosive: the company has attracted millions of registered users within weeks of opening access, climbed into the Top 10 on DappRadar with hundreds of thousands of on-chain daily and monthly active users and millions of on-chain transactions in a single month, and driven an NFT free-mint that organically reached above a 1.3 ETH floor, alongside outsized gains in brand mindshare and category visibility (including a #1 gainer ranking on Kaito).Backers and partners include SEI Foundation, Protocol Labs, 0G Foundation, Techstars, Orange DAO, Sky Mavis, CoinMarketCap Labs, Nvidia Inception, ElevenLabs, and others. Kindred Labs is founded by Max Giammario, whose M.A./Ph.D.-level research focuses on human–AI interaction, and is built by a team of experts from companies such as Apple and Disney.
  • KOKODI — KOKODI is a cross-chain, multi-platform MMO game that allows players to play with zero-knowledge cryptography.
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Funders
VC Fund · Limassol, Limassol, Cyprus · 1 investments in Serbia startups

Funders is a venture capital firm focused on seed-stage investments, with a primary focus on Fintech, AI and SaaS across Americas & Europe

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Investment focus

  • Industry: FinTech, Financial Services, Apps
  • Stage:Seed, Series F
  • Geography: United States, United Arab Emirates, Serbia

Investor stats

  • Total investments: 10
  • Round size: Seed $354k–$3.5M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • AlgoX2 — AlgoX2 is a data streaming platform that allows you to stream data from any source to any destination
  • web2wave — We redefine user acquisition by revolutionizing how web-to-app funnels are built and optimized. Experience unmatched control and efficiency with our platform, designed to tackle the challenges of modern digital marketing and drive your business forward with groundbreaking results.
  • Signa — Signa is a global platform that uses artificial intelligence to identify and remove counterfeit products and false claims on social networks, marketplaces, and search engines. It serves businesses, especially in the pharmaceutical and beauty sectors, helping them recover lost revenue and protect their brands.The platform operates on a B2B SaaSmodel, providing tools for law firms, national authorities, and companies to work together in eliminating both digital and physical counterfeit goods.Launched in 2023, Signa reached a $1M USD ARR by the end of 2024, with clients in the U.S., Colombia, and Mexico.
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Stefan Glänzer
Angel · London, England, United Kingdom · 1 investments in Serbia startups

Stefan is an entrepreneur and investor from Germany who enjoys living in London. He is the co-founder of companions.de, companionsTV, ricardo.de and myblog.de. He is the founding investor and executive Chairman of Mendeley.com and RjDj.me and has been and in the same role at Last.fm. Stefan is a firm believer in European entrepreneurship andan active angel. He holds a PhD in foreign exchange risk management and was a professional DJ for 15 years.

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Investment focus

  • Industry: FinTech, Financial Services, Social Media
  • Stage:Seed, Angel, Series A
  • Geography: United Kingdom, Germany, United States

Investor stats

  • Total investments: 40
  • Round size: Seed $573k–$3.2M; Angel $197k–$828k; Series A $2M–$14M
  • Lead/follow: 8% lead, 92% follow

Portfolio highlights

  • Minitap — Minitap is an AI-driven mobile development company that assists with monitoring mobile devices.
  • HEY HOLY — We’re transforming pet care — with a breed-specific health concept instead of one-size-fits-all, with longevity at its core
  • Mozart AI — Artho has revealed its first product, Mozart AI, a groundbreaking AI-powered Digital Audio Workstation (DAW) that aims to accelerate and magnify human creativity. This hybrid musician will have complete control over their musical vision with no creative friction. They will create, engineer, and perform at the speed of their imagination. They willoutperform and innovate the best pure human artists by combining human artistry with AI co-creation. We are a team of musicians, technologists, and creative visionaries.
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Avalanche
VC Fund · Brooklyn, New York, United States · 1 investments in Serbia startups

Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Gaming
  • Stage:Seed, Grant, Series A
  • Geography: United States, France, Singapore

Investor stats

  • Total investments: 35
  • Round size: Seed $1.5M–$15M; Series A $9.4M–$70M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • Oumla — Secure, scalable blockchain infrastructure for businesses, enterprises, and governments to manage digital assets with ease and compliance.
  • E36 Knots — E36 Knots build decentralized web3 services with the goal of empowering developers and users
  • Forg3t Protocol — Forg3t Protocol provides provable AI unlearning infrastructure for enterprises. It enables verification and auditing of sensitive data removal from AI models. This ensures strong regulatory compliance. Built for secure, transparent AI data management.
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SWGI ventures
VC Fund · 1 investments in Serbia startups

SWGI ventures operates as an investment firm.

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Investment focus

  • Industry: Blockchain, Gaming, Cryptocurrency
  • Stage:Seed
  • Geography: Serbia

Investor stats

  • Total investments: 2
  • Round size: Seed $1.1M–$1.9M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • EclipseFi — EclipseFi is a Cosmos modular multi-chain token issuance platform that seeks to tackle Launchpad's cross-chain user experience and sustainability challenges with features like smart accounts and cross-chain design.
  • KOKODI — KOKODI is a cross-chain, multi-platform MMO game that allows players to play with zero-knowledge cryptography.
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Robert Dighero
Angel · London, England, United Kingdom · 1 investments in Serbia startups

Robert Dighero has over 20 years operational experience, the last 15 working with the internet. He is a partner at White Bear Yard and an active investor across Europe focused on early stage e-commerce, payment and marketplace businesses. He has led a number of investment syndicates and taken on a number of board and advisory roles.Robert waspreviously CFO of QXL ricardo from 1998 to 2008, overseeing development from start-up to its eventual sale to Naspers. He managed a diverse range of corporate actions including its dual listing IPO, consolidating the European online auction market with nine acquisitions, the largest over $1 billion and launching an MBO.The QXL Group was the best performing share on Main Market in both 2004 and 2005 and in the All-Share in 2007 with an over 35,000% share price increase in 5 years. Robert was short-listed for CBI / Real FD, FD of the Year in 2007 and the following year negotiated the £1 billion sale of QXL via a public take-over offer.Prior to QXL, Robert was CFO of AOL UK and previous roles included that of M&A at Bertelsmann USA and at Verulam Investments. Robert started his career at Bain & Co, having left Cambridge with a First class degree and a post-graduate degree in Engineering and has an MBA from Insead.

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Investment focus

  • Industry: FinTech, Financial Services, Payments
  • Stage:Seed, Angel, Series A
  • Geography: United Kingdom, Serbia, Sweden

Investor stats

  • Total investments: 19
  • Round size: Seed $1M–$6.5M; Angel $223k–$828k; Series A $2.3M–$3.9M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • Swipe — Swipe helps you make quick, beautiful, responsive presentations and lets you broadcast them in real-time to anyone, on any device, anywhere in the world. Swipe turns your presentations into conversations, by putting your content in the hands of your audience and lets you interact with real-time polls for a more modern, engaged, two-way presentationexperience. Rebuilt from the ground up with the tools to help save you time and make better presentations.
  • Lendino — Lendino er en markedsplads for lån, hvor private og professionelle investorer kan låne direkte til kreditværdige virksomheder til begge parters fordel. Ved at bruge lånemarkedspladsen sparer man tid, penge og besvær — både som investor og låntager. Du kan læse mere om hvordan Lendino virker her.
  • Lendable — Lendable is a lending platform. When you borrow money, it comes straight from an investor. Unlike banks, who hand out loans from piles of cash they look after on behalf of savers. Their platform is super-fast (you’ll see in a moment), and makes lending as hassle- free as possible. It’s a matter of a few clicks and you get your quote. Unlike banks,who require paperwork and run expensive branch networks.
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Daniel Dines
Angel · Dover, Delaware, United States · 1 investments in Serbia startups

Daniel Dines is based out of New York, New York, and is the Founder, Chief Executive Officer, and Chief Innovation Officer of UiPath. Daniel Dines attended the University of Bucharest.

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Investment focus

  • Industry: Software, SaaS, Artificial Intelligence
  • Stage:Series A, Seed, Series B
  • Geography: United States, Germany, United Kingdom

Investor stats

  • Total investments: 25
  • Round size: Seed $1.9M–$7.4M; Series A $6M–$30M; Series B $10M–$55M
  • Lead/follow: 12% lead, 88% follow

Portfolio highlights

  • RobCo — Easily automate the repetitive tasks in your production facility with modular industrial robots from RobCo.
  • Taktile — Taktile's no-code platform enables you to easily build automated decision flows and iterate on them in a data-driven way leveraging backtests and A/B testing.
  • Trickest — Add SEO description here.
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Ronyp Kahan
Angel · Austin, Texas, United States · 1 investments in Serbia startups

Rony Kahan is the CEO and co-founder of Indeed, the world's leading job site. More people get hired with Indeed than anywhere else. Rony previously co-founded jobsinthemoney.com, the leading job site for financial professionals in 1998 and sold it to Financial News in 2003. Rony's background includes technology consulting at AndersenConsulting (now Accenture) and consumer goods product marketing. He holds an MBA with Distinction from INSEAD and a BSc Honors in Economics from Texas A&M University.

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Investment focus

  • Industry: Software, SaaS, B2B
  • Stage:Seed, Series B, Series A
  • Geography: United States, United Kingdom, Serbia

Investor stats

  • Total investments: 18
  • Round size: Seed $635k–$4M; Series B $15M–$27M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Trainual — Trainual is the only training and knowledge management platform that's also rated number one for onboarding, SOPs, process documentation, and learning management. Used and loved by hundreds of thousands of small biz leaders worldwide.
  • Orgnostic — Orgnostic is the human capital analytics platform for startups. Orgnostic provides investors and leadership teams with high-quality organizational insights that link organizational dynamics with companies’ bottom lines, creating better and more sustainable businesses for the new economy.
  • Hyper — Our Augmented Reality platform enables every business to serve their customers on a one-to-one basis, with guidance and information to supercharge their experience.
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Tenzor Capital
VC Fund · Gibraltar, Gibraltar, Gibraltar · 1 investments in Serbia startups

Investments we power the web3 pioneers, builders and enablers

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Software
  • Stage:Seed, Pre-Seed
  • Geography: Canada, United States, United Kingdom

Investor stats

  • Total investments: 24
  • Round size: Seed $1M–$8.5M; Pre-Seed $1M–$3M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Thytadel — Infrastructure for governing the supply and utilisation of physical assets
  • KOKODI — KOKODI is a cross-chain, multi-platform MMO game that allows players to play with zero-knowledge cryptography.
  • Sats Terminal — Sats Terminal is a Bitcoin DeFi aggregation protocol that integrates fragmented DeFi opportunities.
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European Union
VC Fund · London, England, United Kingdom · 1 investments in Serbia startups, 35 in the past 12 months

Discover how the EU functions, its principles, priorities; find out about its history and member states; learn about its legal basis and your EU rights.

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Investment focus

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

Investor stats

  • Total investments: 210
  • Round size: Seed $16k–$5.4M; Grant $60k–$28M
  • Lead/follow: 64% lead, 36% follow

Portfolio highlights

  • Alawyer — Alawyer is the proactive legal AI for non-lawyers. It help small and medium-sized enterprises (SMEs) as well as private individuals to better master legal questions and risks in everyday life—independently and without prior legal knowledge.
  • National Bank of Egypt — National Bank of Egypt Home Page
  • Duke-NUS Medical School — Collaboration between Duke University and National University of Singapore. Duke-NUS follows the American model of post-baccalaureate medical education in which students begin their medical studies after earning a bachelor's degree. Offers MD, MD/PhD and PhD programs.Duke-NUS aim to develop students to become medical doctors andmedical researchers. Creativity, critical thinking and teamwork are important values that are imparted to our students - that will help them to change and improve the practice of medicine.
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Script Capital
VC Fund · Paris, Ile-de-France, France · 1 investments in Serbia startups

Script Capital specializes in venture capital investments and invests in the information technology and consumer products and services sectors. It is a venture capital company development that aims to be a portfolio of investments in the fields of energy technology, environment, and information with a vision of sustainable development.ScriptCapital was established in 2007 and is based in Paris, France.

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Investment focus

  • Industry: Software, Apps, Billing
  • Stage:Seed, Series B
  • Geography: United States, France, Serbia

Investor stats

  • Total investments: 5
  • Round size: Seed $1.3M–$7M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Orgnostic — Orgnostic is the human capital analytics platform for startups. Orgnostic provides investors and leadership teams with high-quality organizational insights that link organizational dynamics with companies’ bottom lines, creating better and more sustainable businesses for the new economy.
  • Gamma — Meet the modern memo. Write like a doc, present like a deck, discuss live or async.
  • OneRoof — OneRoof is an app that helps meet people with similar interests living in your building and build new friendships. Communication should go further than a nod in the elevator.
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Charlie Songhurst
Angel · Greater Seattle Area, Washington, United States · 1 investments in Serbia startups

Charles Songhurst is a founding partner of Katana Capital, a long-short equity hedge fund. He also runs the Songhurst Group, which holds assets in a variety of private companies.Charles ran corporate strategy for Microsoft and focused on partnering and M&A. He was involved in the Yahoo acquisition and commercial deal, and the Skypeacquisition. Before running corporate strategy, Charles was focused on the emergence of Google and the growth of the search industry.Prior, Charles was an analyst at McKinsey & Company in London. Charles received a bachelor’s degree from Oxford University in politics, philosophy, and economics.

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Investment focus

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

Investor stats

  • Total investments: 191
  • Round size: Seed $1.1M–$8M; Pre-Seed $500k–$5.5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Skrap — Skrap is an on-demand mobile marketplace for skip hire and other waste collection services.
  • Hyphen SCS — Find and rent verified warehouses across 992+ cities in India. Compare 65,000+ listings on Hyphen SCS.
  • Structured AI — AI-powered QA/QC for construction documents. Structured catches errors before they reach the field.
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Purechain Capital
VC Fund · 1 investments in Serbia startups

Purechain Capital is a venture capital firm focused on promoting the blockchain sector through smart investments in innovation and technology.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Web3
  • Stage:Seed, Pre-Seed
  • Geography: Serbia, Singapore, United States

Investor stats

  • Total investments: 8
  • Round size: Seed $1.1M–$5.2M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Credbull — Credbull manages on-chain private credit funds that provide vital financing solutions to creditworthy small and medium-sized enterprises (SMEs).
  • Kindred — Kindred Labs is building the default interface for human–AI interaction — always-on, trusted companions that unify productivity, commerce, and emotional connection into a single relationship. As the only AI company officially trusted by 25+ iconic IPs, including Sanrio, Warner Bros., LINE Friends, and Pudgy Penguins, Kindred Labs sits on a uniquecultural and distribution moat powered by billions of existing fans worldwide.Kindred’s growth has been consistently explosive: the company has attracted millions of registered users within weeks of opening access, climbed into the Top 10 on DappRadar with hundreds of thousands of on-chain daily and monthly active users and millions of on-chain transactions in a single month, and driven an NFT free-mint that organically reached above a 1.3 ETH floor, alongside outsized gains in brand mindshare and category visibility (including a #1 gainer ranking on Kaito).Backers and partners include SEI Foundation, Protocol Labs, 0G Foundation, Techstars, Orange DAO, Sky Mavis, CoinMarketCap Labs, Nvidia Inception, ElevenLabs, and others. Kindred Labs is founded by Max Giammario, whose M.A./Ph.D.-level research focuses on human–AI interaction, and is built by a team of experts from companies such as Apple and Disney.
  • KOKODI — KOKODI is a cross-chain, multi-platform MMO game that allows players to play with zero-knowledge cryptography.
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Ivan Bjelajac
Angel · Belgrade, Vojvodina, Serbia · 1 investments in Serbia startups

I am a serial entrepreneur who has been building software products since 2001, leading to 6 startup exits. In 2015 I fell in love with web3 and am now 100% focused on building the infrastructure for fast and scalable fault-tolerant internet.

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Investment focus

  • Industry: Internet, Software, Blockchain
  • Stage:Seed
  • Geography: Serbia

Investor stats

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

Portfolio highlights

  • Tenderly — Ethereum developer platform that enables you to build innovative blockchain products.
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V7 Capital
VC Fund · Dubai, Dubai, United Arab Emirates · 1 investments in Serbia startups

V7 Capital is a investment firm.

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Investment focus

  • Industry: Software
  • Stage:Seed
  • Geography: Serbia

Investor stats

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

Portfolio highlights

  • Collabwriting — Collabwriting is a simple browser extension that helps you share, comment and collaborate on content you find online
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Blockchain Capital
VC Fund · San Francisco, California, United States · 1 investments in Serbia startups

Partners to crypto builders since 2013.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Financial Services
  • Stage:Seed, Series A
  • Geography: United States, United Kingdom, Singapore

Investor stats

  • Total investments: 184
  • Round size: Seed $1M–$15M; Series A $5M–$40M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: Likely still investing — raised $580M in 2023

Portfolio highlights

  • RedotPay — RedotPay is a leading crypto fintech bridging Web3 and traditional finance through innovative, cost-efficient blockchain solutions. Our intuitive crypto payment products enable millions of users globally to easily spend and send digital assets. We foster financial inclusion for the unbanked and serve crypto enthusiasts, advancing global adoption offast, accessible crypto payments.
  • EigenLabs — Eigen Labs is an engineering and research organization that contributes to protocols like EigenLayer and EigenDA
  • Fabric Cryptography — Fabric develops a custom cryptography hardware to accelerate cryptography algorithms. The chips, whose components exclusively serve cryptographic purposes, are based on Verifiable Processing Units (VPUs) which incorporate features of GPUs and ASICs to improve the speed and cost of advanced cryptographic workloads.
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John Lilic
Angel · Zug, Zug, Switzerland · 1 investments in Serbia startups

John Lilic is an early Bitcoin and Ethereum adopter and an early ConsenSys employee who spent six years with the company helping it grow to an international leader in the blockchain ecosystem. He is now running his own dedicated family office out of Switzerland while also serving as an investor and product development advisor at Polygon. John isalso a co-founder and treasurer at Code to Inspire, a 501c3 non profit dedicated to teaching Afghan girls how to code.

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Investment focus

  • Industry: Blockchain, Internet, Software
  • Stage:Seed, Angel
  • Geography: India, France, Sweden

Investor stats

  • Total investments: 17
  • Round size: Seed $375k–$8M
  • Lead/follow: 24% lead, 76% follow

Portfolio highlights

  • Hilbert Group — Hilbert Group is a digital assets specialist with focus on algorithmic trading. We offer hedge-fund products as well as managed accounts.
  • Robin Markets
  • Polygon — Polygon is the most proven way to build and scale your decentralized application and projects on Ethereum, the world's largest blockchain ecosystem.
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ICT Hub Venture
VC Fund · Belgrade, Vojvodina, Serbia · 1 investments in Serbia startups

ICT Hub Venture is a Serbian private investment fund, focused on early stage technology startups in the SEE region. We offer funding of up to 50,000 EUR in exchange for 5-15% equity, access to the startup ecosystem, tailor-made development program and connection with key figures in relevant industries. Our main focus is on startups which have acomplete team and a scalable solution that challenges traditional businesses. By facilitating creation and development of effective solutions we help transform traditional industries and create new businesses.

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Investment focus

  • Industry: B2B, Software, Web Design
  • Stage:Pre-Seed, Seed
  • Geography: Serbia, Germany

Investor stats

  • Total investments: 4
  • Round size: Pre-Seed $33k–$55k
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • randevu.tech — randevu is providing complete technical infrastructure in cloud, that enables companies throughout full marketplace business life-cycle: from building, to running and scaling.
  • Bitebell
  • OM3GA SOLUTIONS — OM3GA SOLUTIONS provides services in AI/ML speech-to-text, text-to-speech and virtual assistant, web design and hosting.
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CARBYN GROUP
VC Fund · Limassol, Limassol, Cyprus · 1 investments in Serbia startups

Early stage VC studio. Marketing support. Advisory. Development support. Carbyn - is your driven force!

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Investment focus

  • Industry: FinTech, Blockchain, B2B
  • Stage:Pre-Seed
  • Geography: Serbia, United States

Investor stats

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

Portfolio highlights

  • ASTERIZM — Asterizm is an encrypted and trustless cross-chain communication protocol binding L1 & L2 networks (private and public blockchains). In Asterizm we are focused on B2B enterprise market. We are developing solution to let companies build any cross-chain logic even in private chains.
  • Chainspot — Deposit to any supported yield vault from any chain and any token with a single transaction. Manage your DeFi positions in one window from all chains.
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F6 Ventures
VC Fund · Gîza, Al Jizah, Egypt · 1 investments in Serbia startups

F6 Ventures is a leading seed stage venture capital firm operating across emerging markets. We back exceptional founders from idea-stage all the way to Series A, combining early capital with strategic support and a commitment to long-term partnership. With deep ties across the Middle East, Africa, and beyond, we empower innovative startups to scalewith purpose and impact. We manage over $90M in AUM across more than 300 investments in seven countries. By investing early in Pre-Seed to Pre-Series A rounds, we help founders cover initial costs, develop their product, and take it to market. This early capital acts as a launchpad, enabling startups to hit key milestones like securing first customers, attracting follow-on funding, and making significant strides forward.

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Investment focus

  • Industry: Software, E-Commerce, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Egypt, United Arab Emirates, Saudi Arabia

Investor stats

  • Total investments: 269
  • Round size: Seed $15k–$1.5M; Pre-Seed $45k–$550k
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • DarDoc — Book certified nurses, weight loss programs, and IV drips at home in Dubai & Abu Dhabi. Trusted by 10,000+ families. Download the DarDoc app today.
  • Tagaddod — Tagaddod is a renewable Energy and Waste Management Egyptian company, started in February 2013 and operating in Cairo –Egypt. Currently focusing on clean fuels, Tagaddod is working on Biodiesel production from Vegetable Oils. Biodiesel is a fuel alternative that is produced from waste vegetable oils and used in conventional diesel engines, whichcan directly substitute for or extend supplies of traditional petroleum diesel.
  • Lum!ere — Lum!ere is a designer and manufacturer of radical style brass, sterling silver, and gold plated jewelry.
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Accel
VC Fund · Palo Alto, California, United States · 1 investments in Serbia startups

First partner to exceptional teams everywhere

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Series A, Series B, Seed
  • Geography: United States, India, United Kingdom

Investor stats

  • Total investments: 1948
  • Round size: Seed $1.6M–$11M; Series A $4.5M–$41M; Series B $9.5M–$74M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: May invest from a new fund soon — raised $14M in 2019

Portfolio highlights

  • MetraTech — MetraTech Corp. simplifies and enables global commerce innovation, while helping businesses respond to an ever changing customer and partner relationship landscape. They empower businesses to embrace change through a unique agreements-based billing, commerce and compensation solution that models and supports fluid, personalized, multi-partyagreements for customers, partners and suppliers. They automate business processes and business models to address rapidly changing or complex business strategies. Their products are deployed globally, and their customers use MetraTech to innovatively create and securely collect revenue, provide settlement to partners and manage their customer lifecycle in 12 languages, 28 currencies and 90 countries. Customers include Arkadin, Bell, Concur, the Depository Trust and Clearing Corporation (DTCC), CETIP, The City of Chicago, GRU Sao Paulo International Airport, GXS, Intercall, LifeLock, Microsoft, PGi, Telia Sonera, Telus, and Telmore. The company is headquartered in Boston, with offices in London, Paris and Rio de Janeiro. MetraTech is a venture-backed, privately held company whose investors include Accel Partners, Meritech Capital and Vesbridge Partners.
  • Simplivity — Simplify and accelerate your IT with the AI-driven intelligence and exceptional data efficiency of HPE SimpliVity hyperconverged infrastructure.
  • Shift Technology — Shift Technology delivers AI-native decision automation and optimization solutions built specifically for the global insurance industry. Addressing several critical processes across the insurance policy lifecycle, Shift helps insurers achieve faster, more accurate claims and policy resolutions. Shift has analyzed billions of insurance transactionsto date and was presented Frost & Sullivan’s 2020 Global Claims Solutions for Insurance Market Leadership Award.
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Vlad Ionescu
Angel · 1 investments in Serbia startups

Vlad Ionescu is Chief Marketing Officer at Tokinomo - Robotic Shelf Advertising. Attended at University of Bucharest.

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Investment focus

  • Industry: B2B, Software, Cyber Security
  • Stage:Seed, Series A
  • Geography: United States, Serbia, Romania

Investor stats

  • Total investments: 8
  • Round size: Seed $212k–$1.5M; Series A $6.5M–$7M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Metadata — Metadata is an autonomous demand generation platform that automates the most critical but often tedious tasks in marketing to help companies efficiently scale their demand generation efforts. Through machine learning, a proprietary corporate-to-personal identity graph, and automatic optimization to revenue KPIs, Metadata’s platform generates demandfrom target accounts and converts them to customers much faster than legacy methods. Innovative B2B marketers at Zoom, RingCentral, Slack, Thoughtspot and Vonage rely on Metadata to generate predictable velocity of inbound pipeline from target accounts. 3 USPTO patents.
  • Trickest — Add SEO description here.
  • Respeecher — Voice cloning: create speech that's indistinguishable from the original speaker. Perfect for filmmakers, game developers, and other content creators.
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Investor funding in Serbia at a glance

Stats across 119 deals from 113 investors.

113
investors
in Serbia startups
119
deals
in Serbia startups
$3.7M
median round
in Serbia startups
38%
lead investors
lead at least one round
35%
Debt Financing
most common funding stage
83/17
VC / Angel
share of investor count

Access all 113 investors in Serbia startups.

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