LAUNCHub Ventures, the leading Seed stage Venture Capital firm based in Sofia, Bulgaria is delighted to announce the closing of its second fund at 18M EUR. The new fund will be used to continue supporting its existing portfolio companies, and invests in early stage startups in Bulgaria and the wider Southeastern Europe region.

 

Founded in 2012, the first LAUNCHub fund of 9M EUR has been deployed as pre-seed tickets up to 200K EUR. With the second LAUNCHub Ventures fund the successful investment strategy is expanded into the seed space with investments in the 300K to 700K EUR range, expandable to 2M EUR per company.

 “We believe there is a fantastic opportunity in the currently underserved, but quickly growing South Eastern Europe region”,

says Lyuben Belov – serial entrepreneur who founded LAUNCHub Ventures 4 years ago alongside with Todor Breshkov, who forms the team with 3 other experienced partners – Rumen Iliev, Stanislav Sirakov and Stephane Gantchev.

Our strategy is to become the obvious first choice for entrepreneurs in our region“

added Belov.

Investors in the latest fund include EIF (European Investment Fund) and a select group of private individuals including successful Bulgarian entrepreneurs in the digital space, such as the founders of Telerik – A company that has achieved the largest exit for a Bulgarian software company in 2014.

LAUNCHub largely contributed to the growth of the Bulgarian and regional startup ecosystems. We are happy to participate in this growth, standing just right to LAUNCHub in a desire to support, inspire and grow this community”,

commented Svetozar Georgiev, Telerik co-founder.

LAUNCHub Ventures portfolio includes startups such as Fite, a video distribution platform that brings professional ring sports to your TV. Cloudpipes, a workflow automation service connecting hundreds of cloud applications. Doctrina, an online platform connecting pharmacies and pharmaceutical companies. And Coherent Labs, a UI middleware tool used by large number of top gaming studios.

LAUNCHub Ventures announced its first new deal at the time of the closing of the new fund: HiCharlie, a text message robot that radically simplifies personal finance. The startup based out of San Francisco is co-founded by 2 Bulgarians. Co-investors in that round include Norwest Venture Partners and Softech. The deal aligns with LAUNCHub Ventures investment strategy – supporting Bulgarians based in the leading world tech hubs, who are able to combine the local expertise and talent, while building their businesses in key tech areas worldwide.

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