The collaboration aims to provide new opportunities for startup companies
LAUNCHub Ventures has joined Campus X’s ecosystem of tech startups, established companies and investors. For the first time ever, the two leading Bulgarian VC funds – LAUNCHub Ventures and Eleven – will be based under one roof – at Campus X. The collaboration between the three organizations aims to further support and grow the local startup ecosystem.
“We’re excited to welcome LAUNCHub Ventures at Campus X. By joining forces with them and Eleven, who are among our first members, we’ll augment the positive impact of our efforts. Thus, shifting the venture of launching companies – that turn into global leaders in their industries – from being a lucky coincidence to a tested, sustainable, and replicable process,” comments Boyko Iaramov, co-founder and CEO of Campus X.
Benefits to the startup ecosystem
The main goal of this collaboration is to create additional opportunities and benefits for the local tech startups, including:
– A longer financing path – by focusing on different company growth stages, Eleven and LAUNCHub Ventures may foster startups’ long-term development.
– Access to leading experts – even when working with just one of the organizations (LAUNCHub Ventures, Eleven, or Campus X), startups will have access to their combined network of seasoned entrepreneurs and experts, including the VCs’ partners and Campus X’s founders.
– Shared know-how – specially curated events, which are open to the entire ecosystem will help accelerate the companies’ growth.
– Bridge to international funds – all companies based at Campus X will have access to a wide network of international investment funds and business angels.
Strategy for long-term development
The three organizations not only share a common vision for the future of the local tech ecosystem but also have complementing business strategies.
Eleven invests in early-stage startups with validated products and real customers. Their initial investments vary between 100,000 and 300,000 еuro (pre-seed). The VC fund has so far invested in more than 115 startups from Southeast Europe, including the Campus X members Payhawk, Gtmhub, Dronamix, CourseDot, Havelock and Rebellious Software.
“The close proximity between Campus X, Eleven and LAUNCHub Ventures will leverage a platform for greater collaboration and know-how sharing, taking our efforts to grow the local startup ecosystem to the next level,” commented Vasil Terziev, co-founder of Campus X and a partner at Eleven.
LAUNCHub Ventures funds mature startups and scale-ups. Their investments range between 500,000 еuro (seed) and 2M еuro (in series A). LAUNCHub Ventures’ key areas of interest are in the field of B2B Enterprise Software, Fintech, Marketplaces, Software as a Service (SaaS), Digital Health and Blockchain.
Some of LAUNCHub Venture’s notable portfolio companies include BG Menu, which was acquired by the Dutch giant Takeaway in 2018; Cloudpipes that was purchased by QuickBase in 2019; Connecto, acquired by Leanplum in 2018; OfficeRnD, which attracted $3M financing and was awarded the Startup of the Year award by CESA, as well as the leading OKR platform Gtmhub.
“Campus X has become an integral hub for startups, private and institutional investors, and potential startup founders due to the proximity and access to Telerik Academy’s top industry talent and its growing partner network. Therefore, moving our team to Campus X became the most natural next step for us,” commented Todor Breshkov, Managing Partner at LAUNCHub Ventures.
Campus X is an end-to-end coworking ecosystem, which provides all fundamental factors for tech companies’ success. Our member companies have access to capital, leading industry experts and mentors, as well as the top tech talent, trained at Telerik Academy. Many of the startups based here have already attracted funding from Eleven and LAUNCHub Ventures or from other international investors like EarlyBird, SpeedInvest, Flashpoint, and Techstars.