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Top 45 VC Funds & Investors in Serbia (August 2026)

The most active venture capital funds 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
16 Turkey, Egypt, Ukraine Debt Financing, Post-IPO Debt, Private Equity Financial Services, Banking, Energy $5M–$320M
South Central Ventures
VC Fund
11 United States, United Kingdom, Serbia Seed, Pre-Seed, Series A Software, SaaS, Artificial Intelligence $33k–$5M
Credo Ventures
VC Fund
5 United States, United Kingdom, Czech Republic Seed, Series A, Pre-Seed Software, Information Technology, Artificial Intelligence $371k–$19M
Eleven Ventures
VC Fund
5 Bulgaria, United States, United Kingdom Seed, Convertible Note, Pre-Seed Software, SaaS, Information Technology $27k–$2.7M
SeedBlink
VC Fund
4 Romania, United States, United Kingdom Seed, Pre-Seed, Series A Software, SaaS, Information Technology $137k–$35M
Underline Ventures
VC Fund
4 Romania, United States, Serbia Seed, Pre-Seed, Series A Software, Machine Learning, E-Commerce $865k–$19M
SMOK Ventures
VC Fund
4 Poland, United States, Ukraine Seed, Pre-Seed Software, Information Technology, SaaS $54k–$3M
Fortech Investments
VC Fund
3 Romania, United States, Serbia Seed, Pre-Seed, Venture - Series Unknown Software, Artificial Intelligence, Big Data $147k–$1.2M
Earlybird Digital East Fund
VC Fund
3 Seed $1.5M–$10M
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 $1.5M–$75M
Version One Ventures
VC Fund
2 United States, Canada, United Kingdom Seed, Series A, Series B Software, Internet, Blockchain $1.5M–$55M
ICT Hub Venture
VC Fund
2 Serbia, Germany Pre-Seed, Seed Software, SaaS, B2B $33k–$59k
Crew Capital
VC Fund
2 United States, United Kingdom, Brazil Seed, Series A, Series B Software, SaaS, Information Technology $3.5M–$94M
Accel
VC Fund
2 United States, India, United Kingdom Series A, Series B, Seed Software, SaaS, Information Technology $1.6M–$75M
KR1
VC Fund
2 United States, United Kingdom, Switzerland Seed, Series A Blockchain, Cryptocurrency, Internet $100k–$43M
Point Nine
VC Fund
2 Germany, United States, France Seed, Series A, Series B Software, SaaS, Internet $900k–$62M
Tokonomy
VC Fund
2 Serbia, Liechtenstein Seed, Pre-Seed Web3, Internet, Software $1.5M–$4M
Innovation Fund Serbia
VC Fund
2 Serbia, United States Pre-Seed, Grant Artificial Intelligence, Software, Analytics $52k–$133k
Maven 11 Capital
VC Fund
2 United States, United Kingdom, Australia Seed, Series A, Pre-Seed Blockchain, Financial Services, Cryptocurrency $1.3M–$43M
PvX Partners
VC Fund
1 United States, Cyprus, Brazil Debt Financing, Corporate Round Apps, Software, Mobile Apps $10M–$100M
Council of Europe Development Bank
VC Fund
1 Italy, Spain, Poland Debt Financing, Post-IPO Debt Financial Services, Banking, Finance $6.5M–$271M
Tenzor Capital
VC Fund
1 Canada, United States, United Kingdom Seed, Pre-Seed Blockchain, Cryptocurrency, Software $1M–$8.5M
V7 Capital
VC Fund
1 Serbia Seed Software
Funders
VC Fund
1 United States, United Arab Emirates, Serbia Seed, Series F FinTech, Financial Services, Apps $354k–$3.5M
vVv
VC Fund
1 Serbia, Singapore Seed, Pre-Seed Blockchain, Gaming, Generative AI
Global Environment Fund Management
VC Fund
1 United States, India, Brazil Private Equity, Series B Energy, Forestry, Renewable Energy $1.4M–$265M
Oriole Ventures
VC Fund
1 Hong Kong, United Kingdom, Serbia Seed, Pre-Seed, Series A Blockchain, Cryptocurrency, Financial Services $50k–$5M
CARBYN GROUP
VC Fund
1 Serbia, United States Pre-Seed FinTech, Blockchain, B2B $175k–$425k
Fansara
VC Fund
1 Serbia Seed Web3, Internet, Web Design
F6 Ventures
VC Fund
1 Egypt, United Arab Emirates, Saudi Arabia Seed, Pre-Seed Software, E-Commerce, Information Technology $15k–$1.3M
European Union
VC Fund
1 Germany, United Kingdom, United States Grant, Seed Software, Information Technology, Health Care $16k–$28M
Digital Serbia initiative
VC Fund
1 Serbia, Lithuania Pre-Seed, Seed FinTech, Hospital, E-Commerce
Enterprise Expansion Fund
VC Fund
1 Serbia Debt Financing Smart Cities, Manufacturing, Energy Management
Purechain Capital
VC Fund
1 Serbia, Singapore, United States Seed, Pre-Seed Blockchain, Cryptocurrency, Web3 $1.1M–$5.2M
Avalanche
VC Fund
1 United States, France, Singapore Seed, Grant, Series A Blockchain, Cryptocurrency, Gaming $365k–$70M
Innovative Private Sector Development
VC Fund
1 Serbia, United States Seed Retail, Fashion, Shopping
EBRD (Türkiye)
VC Fund
1 Turkey, Egypt, Hungary Debt Financing, Series B, Post-IPO Debt Banking, Software, Financial Services $9.8M–$231M
Script Capital
VC Fund
1 United States, France, Serbia Seed, Series B Software, Apps, Billing $1.3M–$7M
Blockchain Capital
VC Fund
1 United States, United Kingdom, Singapore Seed, Series A Blockchain, Cryptocurrency, Financial Services $1M–$33M
Exel by Merak
VC Fund
1 Saudi Arabia, Egypt, United Kingdom Pre-Seed, Seed, Venture - Series Unknown Gaming, Video Games, Online Games $293k–$300k
TS Ventures Fond
VC Fund
1 United States, Serbia, Croatia Seed, Pre-Seed, Series A Software, B2B, SaaS $325k–$1.4M
Kangaroo Capital
VC Fund
1 Vietnam, India, Serbia Seed, Series A Blockchain, Cryptocurrency, Gaming $1.1M–$5M
KG Ventures
VC Fund
1 United States, Serbia, Finland Seed, Pre-Seed, Series A Software, SaaS, PaaS $148k–$300k
SWGI ventures
VC Fund
1 Serbia Seed Blockchain, Gaming, Cryptocurrency $1.1M–$1.9M
Access all 109 VC funds in Serbia startups.

Access 48,091 investors

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 · 16 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, Energy
  • Stage:Debt Financing, Post-IPO Debt, Private Equity
  • Geography: Turkey, Egypt, Ukraine

Investor stats

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

Portfolio highlights

  • İşbank — İşbank is a Turkish commercial banking service provider.
  • Mlinar — Mlinar is the bakery retail and wholesale business in Croatia and operates the largest bakery retail network in South East Europe.
  • National Bank of Greece — The term i-bank adopted in April 2009 as a single name for all electronic service networks of the National Bank (Internet, Phone & Mobile Banking, ATM and Automated Payment -APS).Through the site of i-bank participate in contests with great prizes , learn the latest news from the world of technology , innovation and entrepreneurship and youthinformed about events in the i-bank store and the latest developments of the Contest «i -bank Innovation & Technology " .
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South Central Ventures
VC Fund · Belgrade, Vojvodina, Serbia · 11 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, SaaS, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, United Kingdom, Serbia

Investor stats

  • Total investments: 63
  • Round size: Seed $219k–$2.8M; Pre-Seed $33k–$2M; Series A $329k–$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!
  • 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.
  • Alchemy — Alchemy Cloud software accelerates innovation and product development in applied science labs all over the world.
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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, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, United Kingdom, Czech Republic

Investor stats

  • Total investments: 164
  • Round size: Seed $800k–$7M; Pre-Seed $371k–$4M; Series A $2M–$19M
  • Lead/follow: 34% lead, 66% follow

Portfolio highlights

  • Modeinspect — acreom is the integrated markdown knowledge base with tasks. Your personal daily driver for your dev workflow.
  • IP Fabric — Automated Networks Assurance Platform fully maps complete network infrastructure, providing hyper-converged visibility and a single point of truth for global networks, provides advanced visualization for troubleshooting issues, and simulates network behavior to infer deviation from policy or infer risks which could cause an outage in the future.
  • Contentyze — Contentyze develops a content generation platform, integrating cutting edge deep learning research with commercial applications in marketing, media and e-commerce.
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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: 149
  • Round size: Seed $27k–$2.7M; Pre-Seed $219k–$1.1M; Convertible Note $27k–$121k
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — raised $68M in 2022

Portfolio highlights

  • Flataway.ai — Flataway - the home of subscription living. Live & work from anywhere in a trusted proffessionally managed accomodation.
  • nFuse.ai — nFuse scales your B2B sales with AI. Up to 30% revenue uplift, $1 per order processing cost, live in 30 days. No new apps, no behavior change.
  • Blue Longevity — Blue Longevity is a supplier of longevity medicine that offers evidence-based, individualized, and integrated approaches to improve longevity and encourage good aging. It uses digital coaching in conjunction with state-of-the-art diagnostics, lifestyle medicine, and regenerative therapies to develop customized workout, stress-reduction, and dietplans.
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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 — Build complex enterprise software using context.
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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: 80
  • Round size: Seed $477k–$3M; 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 — The Fastest Way From Idea to App Store Native iOS and Android. Web included. Ready for app stores in minutes.
  • Principle — Test your strategic decisions before you commit. Principle simulates competitors, regulators, and market forces to stress-test your bets against adversarial reality.
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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, 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 — Where outdoor living products get designed in 3D, priced, quoted and sold: by your customers online, and your team in the showroom, the field or the office.
  • 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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Earlybird Digital East Fund
VC Fund · Istanbul, Istanbul, Turkey · 3 investments in Serbia startups

Earlybird Digital East Fund is an investment firm that focuses on early stage companies in Eastern Europe and Turkey.

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Investment focus

  • Stage:Seed

Investor stats

  • Total investments: 45
  • Round size: Seed $1.5M–$10M
  • Lead/follow: 31% lead, 69% 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.
  • Simr (formerly UberCloud) — UberCloud's HPC Simulation Platform helps engineers run faster simulations and helps overworked IT teams gain control.
  • Picus — The Complete Security Control Validation Platform | Stay proactive by validating your security controls with attack scenarios, empower your Red, Purple, Blue teams.
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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: 22
  • Round size: Seed $965k–$4M; Pre-Seed $154k–$1.5M
  • Lead/follow: 9% lead, 91% 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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Access 48,091 investors

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

Browse database — It's Free!
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: 364
  • Round size: Seed $1.5M–$14M; Series A $4.4M–$34M; Series B $6M–$75M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely still investing — raised $190M in 2024

Portfolio highlights

  • Hilo — Get stress-free readings round the clock with Hilo's clinically validated blood pressure monitor. Learn more
  • TrillerTV — FITE is a direct-to-consumer digital live streaming service for combat sports. The platform is specializing in broadcasting professional wrestling, mixed martial arts and boxing events. FITE streams a rich array of live pay-per-view events, subscription packages and thousands of hours of live and on-demand free programs to millions of fans aroundthe world.FITE's mission is to help fans discover and watch premium live events, and help programmers to distribute and monetize them. While FITE's beachhead market is combat sports, the product is designed to serve over time a much wider range of premium live programming.It was founded in 2016 and is headquartered in Uniondale, New York, United States.
  • Neuracore — The robot skill creation engine: collect demonstrations, curate datasets, train imitation and reinforcement learning policies, and deploy them on real robots, all on one platform.
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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: 158
  • Round size: Seed $1.5M–$5.7M; Series A $4M–$22M; Series B $8M–$55M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • 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!
  • Pilot Protocol — Network OS for AI Agents
  • Arctus Aerospace — We build unmanned airplanes for zero infrastructure earth observation. We fly at 45,000 feet for 24 hours at a go.
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ICT Hub Venture
VC Fund · Belgrade, Vojvodina, Serbia · 2 investments in Serbia startups

Omorika is the traditional name of Picea omorika, one of the most fascinating endemic trees in the world. Our fund is named Omorika in honor of this endangered beauty.morika is the perfect symbol of our investment fund (authentic and rare) and what it strives to become (gigantic and strong). It is also an ideal measure we are looking for in our future partners - endurance and groundbreaking spirit.

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Investment focus

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

Investor stats

  • Total investments: 4
  • Round size: Pre-Seed $33k–$59k
  • 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 — Manage 3rd party delivery, integrate online orders to POS, manage menus on delivery platforms and orchestrate on-demand delivery networks.
  • 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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Crew Capital
VC Fund · New York, New York, United States · 2 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: 49
  • Round size: Seed $3.5M–$12M; Series A $13M–$51M; 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

  • 6thSense — 6thSense is an AI and robotics data engineering startup that builds tactile egocentric datasets for training the next generation of dexterous robots.
  • Qualitate — Qualitate deploys the world's most intelligent AI moderator to conduct expert-driven conversations at scale - uncovering high-quality insights, fast.
  • Membrane — Integrate any API instantly. Keep integrations working as things change. Membrane is agentic integration infrastructure with unlimited API coverage.
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Accel
VC Fund · Palo Alto, California, United States · 2 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: 2095
  • Round size: Seed $1.6M–$10M; Series A $4.5M–$41M; Series B $9.5M–$75M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: May invest from a new fund soon — raised $14M in 2019

Portfolio highlights

  • Vercel — The autonomous stack for every app and agent.
  • Nimble Storage — Nimble Storage solutions are built on the idea that enterprises should not have to compromise between performance, capacity, ease of management, and price. Nimble's patented Cache Accelerated Sequential Layout (CASL) architecture, designed from the ground up to effectively combine flash with high capacity drives, makes high performanceaffordable, simplifies and enhances disaster recovery and backup, and delivers stress-free operations.Nimble Storage is funded by
  • 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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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, Cryptocurrency, Internet
  • Stage:Seed, Series A
  • Geography: United States, United Kingdom, Switzerland

Investor stats

  • Total investments: 51
  • Round size: Seed $100k–$6M; Series A $2.5M–$43M
  • Lead/follow: 39% lead, 61% follow

Portfolio highlights

  • Avail — Meet the Avail team building the future of modular blockchain infrastructure.
  • 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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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: 265
  • Round size: Seed $900k–$7.7M; Series A $3.2M–$24M; Series B $10M–$62M
  • Lead/follow: 35% lead, 65% 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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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, Software
  • Stage:Seed, Pre-Seed
  • Geography: Serbia, Liechtenstein

Investor stats

  • Total investments: 3
  • Round size: Seed $1.5M–$4M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Celestia — Celestia is the modular blockchain powering unstoppable applications with full-stack customizability.
  • 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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Innovation Fund Serbia
VC Fund · Belgrade, Vojvodina, Serbia · 2 investments in Serbia startups

Serbia was one of the first countries in the region to embrace the so-called “innovation imperative”, that is the notion that successful participation in the global knowledge economy requires the ability to adapt and advance new technological and research capabilities that involve public and private collaboration.Operational since 2011, theInnovation Fund has been a pioneering effort to operationalize and institutionalize this imperative – first by increasing the capacity of startups and resources available for their growth. It is part of a broader innovation strategy now under development.The intention of the Innovation Fund is to contribute to the overall development of innovations through various financial aid instruments, particularly by fostering the establishment of new and strengthening the existing companies, by positioning them to access venture capital markets, and by attracting foreign direct investment in the high-tech research and development.Innovation Fund aims to promote linkages between research and technology development and economy, and encourage and support the development of innovative technologies.The EU’s support for the Innovation Fund has been instrumental in advancing Serbia’s innovation financing and promoting better integration between the research and private sectors. The Fund is thus an important step towards closer links between Serbia’s and EU’s research communities and innovation ecosystems. It enables the positioning of Serbia as a leader in the region and the establishment of links with the EU and global markets. So far, the EU has allocated around EUR 13 million from the IPA funds to the Innovation Fund.

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Investment focus

  • Industry: Artificial Intelligence, Software, Analytics
  • Stage:Pre-Seed, Grant
  • Geography: Serbia, United States

Investor stats

  • Total investments: 5
  • Round size: Grant $84k–$113k; Pre-Seed $52k–$133k
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • VLADAM — VLADAM is an automated smart (AI-based) cryptocurrency trading solution that generates and maintains passive income from cryptocurrency trading.
  • Valuator — Upravljanje nabavkom jednim klikom
  • INVT Novi Sad — We are a multidisciplinary team comprising experts in the domain of artificial intelligence, law, user experience and seasoned IT engineers. Our experience in developing mobile applications and online services provided us with insight into privacy policy challenges. Together with our data privacy and legal tech consultants and user experienceexperts we are working on bringing the complex aspects of privacy policies to end users in a simple, yet informing way.
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Maven 11 Capital
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 2 investments in Serbia startups, 16 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, Australia

Investor stats

  • Total investments: 132
  • Round size: Seed $1.9M–$10M; Pre-Seed $1.3M–$3.1M; Series A $5M–$43M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Range — The financial control layer for companies operating across stablecoins, crypto and fiat rails.
  • THEA-AI — AI that amplifies human performance
  • Adjacent Markets — Event indexing and @AdjacentNews
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PvX Partners
VC Fund · Singapore, Central Region, Singapore · 1 investments in Serbia startups, 13 in the past 12 months

PvX Partners is a platform designed to help consumer apps scale. PvX Capital is our first line of services focused on cohort financing: fast, flexible capital without the risk and drawbacks of traditional equity or debt. PvX Capital enables you to scale marketing spends meaningfully without the worry of equity dilution or loan defaults. PvX is alsodeveloping an operating system for growth — a unified platform enabling incremental ROAS. A single integration that will grant you access to the industry’s most useful tools proven to help consumer businesses scale.

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Investment focus

  • Industry: Apps, Software, Mobile Apps
  • Stage:Debt Financing, Corporate Round
  • Geography: United States, Cyprus, Brazil

Investor stats

  • Total investments: 13
  • Round size: Debt Financing $10M–$100M
  • Lead/follow: 92% lead, 8% follow

Portfolio highlights

  • Luni — One team. Several brands. Millions of people. Endless creativity.
  • Feenko — Feenko is a personal finance and subscription management app that helps users identify, track, and manage recurring subscription payments.
  • Shortical — Big stories made for your phone. Discover original vertical series built for the way people watch today. Shortical brings cinematic storytelling into quick, addictive episodes you can enjoy anytime, anywhere.
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Council of Europe Development Bank
VC Fund · Paris, Ile-de-France, France · 1 investments in Serbia startups

Council of Europe Development Bank, a multilateral development organisation with an exclusively social mandate

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Investment focus

  • Industry: Financial Services, Banking, Finance
  • Stage:Debt Financing, Post-IPO Debt
  • Geography: Italy, Spain, Poland

Investor stats

  • Total investments: 9
  • Round size: Debt Financing $6.5M–$271M
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • FED invest — FED invest provides financial, non-financial, and banking services.
  • MicroBank — MicroBank is a financial service company. They provide financing to groups and projects that generate a favorable social impact. It is an international initiative that to achieve a voluntary commitment from entities in social responsibility, and in this way contribute to responsibility.
  • University of Tartu — The University of Tartu is a classical university in the city of Tartu and the national university of Estonia.
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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 — A third-person fantasy extraction shooter inspired by Asian culture.
  • Sats Terminal — Borrow USDC against BTC at the best available rate in minutes Backed by @yzilabs, @cbventures, @drapervc and more
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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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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 — The infrastructure powering exchanges, trading platforms, and prediction markets. From the creators of the New York Stock Exchange architecture.
  • 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 detects and removes illicit online product trade.
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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 — Blockchain-enabled AI companions for the masses. On @SeiNetwork
  • KOKODI — A third-person fantasy extraction shooter inspired by Asian culture.
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Global Environment Fund Management
VC Fund · Chevy Chase, Maryland, United States · 1 investments in Serbia startups

Global Environment Fund (GEF) is a global alternative asset manager established in 1990 to invest in high-growth clean energy, energy and resource efficiency, environmental, and sustainable natural resource management industries throughout the world. Our investments finance innovative businesses that deploy proven technologies, products and services that incrementally make the world economy run with less energy,

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Investment focus

  • Industry: Energy, Forestry, Renewable Energy
  • Stage:Private Equity, Series B
  • Geography: United States, India, Brazil

Investor stats

  • Total investments: 68
  • Round size: Series B $5.4M–$24M; Private Equity $1.4M–$265M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • OPTIMOZ — Discover high-impact, AI-driven, cloud-powered solutions with Optimoz. From atmospherics AI to optalk and openHIT, we deliver innovative technologies to transform your business.
  • Farmalogist — Farmalogist d.o.o distributes pharmaceuticals, medical devices, and offers regulatory registration services for healthcare products.
  • ESDS Software Solution Limited — ESDS, a premier cloud service provider in India, offers managed and datacenter services, ensuring seamless, secure, and scalable solutions for businesses of all
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Oriole Ventures
VC Fund · Zürich, Zurich, Switzerland · 1 investments in Serbia startups

Oriole Ventures is an investment fund dedicated to supporting blockchain projects in the WEB 3.0 space. In addition to the capital injection, Oriole Ventures helps projects via its expertise & connections with local crypto-influencers, media channels, and marketing agencies from all over the world.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Financial Services
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Hong Kong, United Kingdom, Serbia

Investor stats

  • Total investments: 17
  • Round size: Seed $50k–$5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • SYNTHR — SYNTHR is redefining instant and slippage-free asset movement across chains
  • Zone — Zone is a community-driven GameFi ecosystem built on Algorand blockchain. The ZONE ecosystem is cross-compatible with other blockchains and offers a gamefi bot for Discord that enables on-chain gaming challenges and fantasy sports.
  • Starfish Finance — Starfish Finance is the Operator of a gamified defi platform intended to be the web3 entertainment-fi brand.
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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
  • Round size: Pre-Seed $175k–$425k
  • 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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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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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: 307
  • Round size: Seed $15k–$1.3M; Pre-Seed $32k–$650k
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • lululittle — lululittle combines storytelling with cultural themes to create empowering personalized books where your children are the heroes. We use the power of personalized storytelling to create inspiring and engaging reading experiences, placing your kids at the center of these stories. Our stories are inspired by relevant cultural themes that aim toempower kids in their diverse cultural environments. Our first story is inspired by the Arab world's rich culture and is suited for kids age 0-10. lululittle's easy to use online platform lets you personalize, preview, and order their book in just a few minutes.
  • Makan Home — SHEN168 adalah situs toto togel online yang terpercaya, menawarkan pengalaman bermain yang aman dan menyenangkan bagi para penggemar togel online.
  • Ouda W Dar — Ouda W Dar is an online platform that helps hosts and guests book unique short-term accommodations.
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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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Digital Serbia initiative
VC Fund · Belgrade, Vojvodina, Serbia · 1 investments in Serbia startups

Digital Serbia initiative is a nonprofit organization that focuses on developing the digital economy in Serbia.

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Investment focus

  • Industry: FinTech, Hospital, E-Commerce
  • Stage:Pre-Seed, Seed
  • Geography: Serbia, Lithuania

Investor stats

  • Total investments: 5
  • Lead/follow: 60% lead, 40% follow

Portfolio highlights

  • Veli — Veli is a fintech firm that provides platform for crypto investing.
  • Getafeel — We specialize in 3D digital twin solutions for residential real estate developers.
  • Vinaver Medical — Vinaver Medical uses AI to unlock the full power of spectral CT, delivering richer tissue data and sharper diagnostics from scanners you already own. Their software boosts clinical confidence and enhances precision in treatment planning.
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Enterprise Expansion Fund
VC Fund · London, England, United Kingdom · 1 investments in Serbia startups

Enterprise Expansion Fund (ENEF), is an entity that finances small and medium-sized enterprises with high growth potential to support the development and expansion of their businesses.

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Investment focus

  • Industry: Smart Cities, Manufacturing, Energy Management
  • Stage:Debt Financing
  • Geography: Serbia

Investor stats

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

Portfolio highlights

  • Meter and Control — Meter and Control provides hardware and software solutions for smart energy management in industrial and residential environments. Their products include smart electricity metres with PLC and GPRS/3G communication, data concentrators and gateways, communication and switching modules, and AMM/AMI software for remote metre reading andcommercial and residential power consumption management.
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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 — Blockchain-enabled AI companions for the masses. On @SeiNetwork
  • KOKODI — A third-person fantasy extraction shooter inspired by Asian culture.
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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: 39
  • Round size: Seed $1.4M–$15M; Grant $365k–$4.5M; Series A $7.5M–$70M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Oumla — Secure, scalable blockchain infrastructure for businesses, enterprises, and governments to manage digital assets with ease and compliance.
  • KOR Protocol — KOR Protocol is a decentralized intellectual property (IP) infrastructure designed to empower creators, protect rights, and enable seamless collaboration and monetization of IP assets across various industries, including music, film, TV, gaming, and art. Backed by notable entities like Animoca Brands, Republic, Niantic, Sfermion, Solana, andprominent creators such as Black Mirror, Disclosure, deadmau5, and Richie Hawtin, KOR leverages blockchain, AI, and DeFi to offer a transparent, efficient, and scalable environment for IP expansion.
  • 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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Innovative Private Sector Development
VC Fund · Ramallah, West Bank, Palestinian Territory · 1 investments in Serbia startups

IPSD - Innovative Private Sector Development

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Investment focus

  • Industry: Retail, Fashion, Shopping
  • Stage:Seed
  • Geography: Serbia, United States

Investor stats

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

Portfolio highlights

  • gamiphy — GAMIPHY is a user engagement and retention platform that equips brands in different industries with tools proven to increase customer reach and loyalty such as branded mini games, playable Ads and digital loyalty programs. The tools and techniques offered by GAMIPHY can be either integrated into existing websites and apps, or can be used to createplatform-independent solutions. The available solutions are diverse, fully customizable, DIY, and are guaranteed to improve each customer journey, thus shorten the path to earn the loyalty sought after.
  • Modesta — Modesta is an e-commerce store that helps women express themselves by featuring the latest trends in modest fashion.
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EBRD (Türkiye)
VC Fund · Istanbul, Istanbul, Turkey · 1 investments in Serbia startups

Information on European Bank for Reconstruction and Development's (EBRD) equity projects.

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Investment focus

  • Industry: Banking, Software, Financial Services
  • Stage:Debt Financing, Series B, Post-IPO Debt
  • Geography: Turkey, Egypt, Hungary

Investor stats

  • Total investments: 17
  • Round size: Series B $12M–$231M; Post-IPO Debt $50M–$100M; Debt Financing $9.8M–$45M
  • Lead/follow: 53% lead, 47% follow

Portfolio highlights

  • Euro Manganese — Ultra High Purity Manganese Products World Class Environmental and Social Standards In The Heart of Europe
  • Feka Automotive — Feka Automotive supplies OEM and Tier 1 businesses in Turkey and around the world with automotive systems and parts. The company primarily sells completed trim pieces, water expansion and steering hydraulic oil tanks, rearview mirrors, and interior and outdoor illumination.
  • NLB Komercijalna Banka — NLB Banka Beograd is a banking institution that offers a wide range of financial services. These services include personal banking, business banking, and digital banking services. Personal banking services encompass various types of accounts, loans, and cards. Business banking services cater to the needs of small businesses, corporations, andentrepreneurs, providing them with accounts, loans, and other financial solutions. The bank also offers digital banking services through its NLB eKlik and NLB eBizKlik platforms, allowing customers to manage their finances online. In addition, NLB Banka Beograd provides customer support through its contact center.
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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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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: 196
  • Round size: Seed $1M–$14M; Series A $5M–$33M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — raised $580M in 2023

Portfolio highlights

  • RedotPay — Where Crypto Meets Real Life | Trusted by 8M+ | Accepted at 130M+ merchants | Pay with BTC, ETH, USDC, USDT & more
  • Yellow Card — Yellow Card is a licensed stablecoin payments infrastructure provider powering global money movement across USD and 50+ local currencies. Talk to us.
  • Fabric Cryptography — Building towards a trustless future with custom chips for advanced cryptography.
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Exel by Merak
VC Fund · Riyadh, Ar Riyad, Saudi Arabia · 1 investments in Serbia startups, 34 in the past 12 months

The Exel Gaming Accelerator is a 16-week program tailored to support early-stage gaming startups in achieving their full potential.

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Investment focus

  • Industry: Gaming, Video Games, Online Games
  • Stage:Pre-Seed, Seed, Venture - Series Unknown
  • Geography: Saudi Arabia, Egypt, United Kingdom

Investor stats

  • Total investments: 35
  • Round size: Seed $300k–$300k; Pre-Seed $293k–$300k; Venture - Series Unknown $300k–$300k
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Sandouq — Sandouq focuses on creating delightful gaming experiences branded as "Sandouq".
  • Taka Studio — Indie game studio crafting design-driven experiences. Currently developing HexaFootball, a turn-based football strategy game for PC.
  • Entropy Minds — Entropy Minds is a Saudi game development studio founded in 2024, creating innovative gaming experiences blending Saudi culture with global standards.
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TS Ventures Fond
VC Fund · Belgrade, Vojvodina, Serbia · 1 investments in Serbia startups

We help the most ambitious startups build the next big things. Benefits? Sure, there are plenty. Every step of the process is considered with detailed care. Supervisor Committee Expert Team

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Investment focus

  • Industry: Software, B2B, SaaS
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Serbia, Croatia

Investor stats

  • Total investments: 7
  • Round size: Seed $325k–$1.4M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • B2Bee — B2Bee is a software company specialized in automating sales processes with a focus on the B2B segment and wholesale. The company developed integrated applications that automate sales and warehousing processes all connected to customers' business software: There will be no more missed sales and mistakes.B2B Manager – Gives customers theability to make orders 24/7 on any device, with their terms of purchase. Field Seller Application – Powering field sellers with real-time information about stock, clients, products, and documents from business software Service application – Work orders management applicationB2Bee have made an omnichannel sales automation tool, for the wholesalers.
  • Getafeel — We specialize in 3D digital twin solutions for residential real estate developers.
  • Connect The Dots — Connect The Dots is a network intelligence platform that uses AI to map and manage career-long professional relationships. The company was founded in 2019 and is based in San Francisco, California, United States.
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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: Vietnam, India, Serbia

Investor stats

  • Total investments: 21
  • Round size: Seed $1.1M–$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 — A third-person fantasy extraction shooter inspired by Asian culture.
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KG Ventures
VC Fund · Saint Petersburg, Saint Petersburg City, Russian Federation · 1 investments in Serbia startups

Corporate venture capital fund of the Kirovsky Zavod

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Investment focus

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

Investor stats

  • Total investments: 10
  • Round size: Seed $148k–$300k
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Ivitech — IVITECH financial platform works in SEA region and develop unique scoring models for risk evaluation and risk management.
  • TraceAir — Construction platform providing drone flights, 3D mapping, analytics, and data processing services to accelerate site work.
  • iFarm — Technologies to grow fresh vegetables, berries and greens
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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 — A third-person fantasy extraction shooter inspired by Asian culture.
Show all investments...

VC funding in Serbia at a glance

Stats across 134 deals from 109 investors.

109
investors
in Serbia startups
134
deals
in Serbia startups
$3.3M
median round
in Serbia startups
47%
lead investors
lead at least one round
34%
Debt Financing
most common funding stage

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