The third fund of LAUNCHub Ventures has attracted a new EUR 15 million and already has a total portfolio of EUR 60 million, which it will invest in companies from the region in a more advanced stage of development. The funds were raised by the International Finance Corporation (IFC), part of the World Bank Group, by the European Investment Fund, and by private investors from Bulgaria and the region. Some of the investors own businesses in which LAUNCHub Ventures has already invested in previous rounds. The new fund has already made its first investments in Greek, Romanian, and Latvian startups. Last April it announced the the largest exit for its portfolio following a deal to acquire the FITE network of live broadcasts of sporting events. The fund has an initial investment of between EUR 500,000 and EUR 2 million. If you own a startup and are looking for an investment to encourage its growth, you can find more information on the LAUNCHub Ventures’ website at https://launchub.com/about
The BlackPeak Capital private equity fund is also opening a second fund, which will target capital of EUR 5 million to EUR 10 million in start-up companies and SMEs from Romania, Bulgaria, Serbia, Slovenia, and Croatia. On demand are companies in a more advanced phase of development, with revenue of over EUR 2 million, a potential for accelerating or enduring growth – organically or through acquisitions. In focus are IT companies, niche production, consumer goods, business services, and healthcare. The Fund will operate under the name Blackpeak Southeast Europe Growth Equity Fund and is entering an investment regime with a capital of EUR 68.5 million and an end target of EUR 120 million. Among the investors are the European Investment Fund, the European Bank for Reconstruction and Development, the International Financial Corporation (IFC), and others.
InvestHorizon has opened the submission for its accelerator program, aimed at start-ups and developed companies in the field of the so-called “deep technologies”. The program is extensive and offers product/service innovation testing, business model development, preparation for attracting investments and discussions with investors, contact network. The program is open to both mentors and investors. Find more details and an application form on InvestHorizon’s website – https://investhorizon.eu/
The Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) is organizing the participation of Bulgarian companies in the GITEX Technology Week – the international tech exhibit for information and communication technologies, which will be held between 17.10.2021 and 21.10.2021 in Dubai. The forum is the largest technology event in this part of the world and an entrance to the Middle East and North Africa markets. BSMEPA will bear part of the costs of the participating companies. Applications are accepted until 2 July, 2021 including. Find more details about the organization and the necessary documents for participation in the exhibition here – https://www.sme.government.bg/?p=54356.
Independent experts or companies can register in the leading Dutch open innovation platform KVK Business Challenge where entrepreneurs from the Netherlands and abroad solve new challenges and generate a new joint business. Businesses use the platform to present the challenges whose solutions they are seeking, and entrepreneurs, SMEs, and start-ups can offer their experiences, ideas for new solutions, or innovative developments, which leads to new partnerships between companies.
The European Commission’s COVID-X Accelerator Program provides EU companies with a grant of € 100,000 to validate their decisions in the diagnosis, prognosis, follow-up of patients with COVID-19, or another open challenge. The second open call with applications for participation by July 22 is currently underway. For more information, please visit: www.covid-x.eu