# Innovation Capital

> Innovation Capital is a VC fund in Sofia backing Software and E-Commerce. See 187 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Sofia, Bulgaria
- Total investments: 187
- Last investment: Dec 2023
- Lead investor: 85%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/innovationacceleratorbg/
- Website: https://www.innovationcapital.bg/
- Facebook: https://www.facebook.com/iCapital/

Innovation Capital is a EUR 21.1 million venture capital fund with the mandate to provide access to equity and quasi-equity funding to Bulgarian startup companies. Our vision is to focus on key high-priority sectors in the local economy with high potential for disruptive and scalable innovation and to support their transformation throughprofessional innovation management in high-potential start-up and scale-up businesses. Growing these businesses to scale and establishing vertical or horizontal integration with well-established international companies and innovation leaders abroad is our end goal.

## Contacts

5 contacts available for Innovation Capital. Shizune tracks 4 team members at Innovation Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/innovation-capital-2bf4?utm_source=investor_profile

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 37 | 20% |
| E-Commerce | 20 | 11% |
| Food and Beverage | 19 | 10% |
| Health Care | 14 | 7% |
| Enterprise Software | 12 | 6% |

183 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Pre-Seed | 147 | 79% |
| Seed | 34 | 18% |
| Series A | 1 | 1% |
| Funding Round | 1 | 1% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Bulgaria | 142 | 76% |
| Greece | 3 | 2% |
| United States | 2 | 1% |
| United Kingdom | 2 | 1% |
| Malta | 1 | 1% |

8 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Angel Hristov | Managing Partner | 5 | https://shizune.co/investors/profile/angel-hristov |
| Anna-Marie Vilamovska | Board Member & Managing Partner | 0 | https://shizune.co/investors/profile/anna-marie-vilamovska |
| Dimitar Kostov | Managing Director | 0 | https://shizune.co/investors/profile/dimitar-kostov-210a |
| Vassil Christov | Managing Partner | 0 | https://shizune.co/investors/profile/vassil-christov |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Fixter | One-stop-shop or all types of services accompanying the administration and technical support of administrative and commercial buildings | $1.1M | Seed | Dec 18, 2023 |  |
| Tutti Frutino | Bio jueces with added vitamins and minerals | $807.2K | Seed | Dec 15, 2023 |  |
| Shareascoot | The company deals with sales, renting and shared services for scooters. | $174.5K | Seed | Dec 15, 2023 |  |
| Surveys.bg | Targeted online surveys and result analysis | $912.4K | Seed | Dec 11, 2023 |  |
| Pricemind | Price management system used by e-commerce retailors and vendors. | $27K | Pre-Seed | Dec 07, 2023 |  |
| Aqua 7 | Laser cleaning technology | $27K | Pre-Seed | Dec 07, 2023 |  |
| EnsReale | Project "Bulgarian Stories" media production to promote small and medium-sized Bulgarian farmers, alternative forms of tourism in the country and other topics of national importance. | $27.1K | Pre-Seed | Dec 04, 2023 |  |
| Springbok | Mobile app marketplace for services in the wellnes and fitness industry. | $27.1K | Pre-Seed | Dec 04, 2023 |  |
| Shark Minds | The company is conducting a research on footwaer recycling and aims to develop shock-absorbing panels made by the recycled material. | $54.5K | Pre-Seed | Nov 30, 2023 |  |
| Protect Care | Initially provider of cleaning and laundry services intended for kindergartens. Later on the company pivots towards financial services. | $108.9K | Seed | Nov 30, 2023 |  |

10 of 187 investments shown.

## Co-investors
- [Vitosha Venture Partners](https://shizune.co/investors/profile/vitosha-venture-partners) — VC Fund, 3 deals together
- [Alberta Innovates](https://shizune.co/investors/profile/alberta-innovates-e699) — VC Fund, 1 deal together
- [BEYOND](https://shizune.co/investors/profile/beyond-95d1) — VC Fund, 1 deal together
- [Encavis](https://shizune.co/investors/profile/capital-stage) — VC Fund, 1 deal together
- [Eleven Ventures](https://shizune.co/investors/profile/eleven) — VC Fund, 1 deal together
- [Energia Ventures](https://shizune.co/investors/profile/energia-ventures) — VC Fund, 1 deal together

## Similar investors

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund
- [Everywhere Ventures](https://shizune.co/investors/profile/everywhere-ventures) — VC Fund

## FAQ

### What does Innovation Capital invest in?

Innovation Capital invests primarily in Software, E-Commerce and Food and Beverage startups, most often at Pre-Seed and Seed stage. Most of the 187 investments tracked by Shizune back companies in Bulgaria. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### How do I contact Innovation Capital?

Public channels for Innovation Capital include LinkedIn, the website linked on this profile and Facebook. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Innovation Capital?

The team at Innovation Capital includes Angel Hristov (Managing Partner), Anna-Marie Vilamovska (Board Member & Managing Partner) and Dimitar Kostov (Managing Director). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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