Bulgarian VC fund LAUNCHub Ventures has closed its new €18 million second fund to invest in startups in Bulgaria and Southeast Europe. The existing portfolio companies will benefit as well.
The first LAUNCHub fund of €9M was founded in 2012. It was started as pre-seed tickets up to €200,000. Yet, thanks to this new fund, the venture can deploy into the seed space with investments in the €300,000 to €700,000 scope, expansible to €2M per firm. The aim of the venture’s strategy is to become the obvious first choice for entrepreneurs in their region. The founders believe there is a fantastic opportunity in the currently underserved South Eastern Europe region, which is quickly growing. LAUNCHub has already lavishly supported the growth of the Bulgarian and regional startup ecosystems.
LAUNCHub’s investors include: the European Investment Fund (EIF), the founders of Bulgarian software corporation Telerik, and many other investors whose names have not been disclosed. The venture is headed up by: Belov, Todor Breshkov, Rumen Iliev, Stanislav Sirakov, and Stephane Gantchev.
LAUNCHub’s portfolio currently features companies in an assorted set of fields, such as: video distribution platform Fite; workflow automation service connecting hundreds of cloud applications Cloudpipes; an online platform connecting pharmacies and pharmaceutical firms Doctrina; UI middleware tool for gaming studios Coherent Labs.
