Sofia-based venture capital firm LAUNCHub Ventures has announced the first close of its third fund at €65 million, with a final target of more than €75 million. The fund will focus on Pre-Seed and Seed-stage startups across Central and Eastern Europe, Southeastern Europe, and the region's diaspora. The announcement positions LAUNCHub to continue its more than a decade of support for early-stage founders in emerging European technology markets.
Fund Strategy and Investment Approach
LAUNCHub Ventures plans to make around 25 investments over a five-year investment period. Initial checks will range from €300,000 to €3 million, while the firm can lead or co-lead rounds of up to €7 million. Capital is also reserved for follow-on investments at the Series A stage, allowing the fund to support portfolio companies as they mature.
The fund is already active and has led three rounds in AI social gaming platform Nanogram, AI content verification company Lenz, and sports and activities software provider 1Club. These initial commitments reflect the fund's focus on artificial intelligence and digital platforms. The investment scope covers Bulgaria, Romania, Croatia, Greece, Hungary, Slovenia, Serbia, and the wider Western Balkans, as well as the broader Central and Eastern European region.
Track Record and Portfolio Performance
Founded in 2012, LAUNCHub Ventures has backed nearly 100 companies through its first two funds and manages more than €100 million. Portfolio companies have raised more than €700 million in follow-on funding, indicating strong downstream investor confidence. According to the firm, 75% of portfolio companies have raised a subsequent round and around 40% have reached Series A.
The portfolio includes notable companies such as Ampeco, FintechOS, Colossyan, Giraffe360, Veridion, Ferryhopper, and Lace. LAUNCHub has recorded 18 exits to date, including SPLX acquired by Zscaler in 2025, FITE acquired by Triller, and OfficeRnD acquired by Blue Star. This exit activity demonstrates the firm's ability to generate liquidity and returns across different technology segments.
Investor Base and Team Development
The fund is backed by the European Investment Fund, the European Bank for Reconstruction and Development, international financial institutions, regional entrepreneurs, and family offices. More than 10 LAUNCHub portfolio founders who have exited their companies also participated as limited partners. The International Finance Corporation, an existing investor in Fund II, is considering participation in the second close.
The firm has also strengthened its leadership team, with Raya Yunakova and Petar Tsachev stepping up as General Partners. They join Todor Breshkov, Stanislav Sirakov, Rumen Iliev, and Irina Dimitrova, who have been with the fund since 2012. Lyuben Belov and Stephane Gantchev continue as venture partners and advisors, while Vedran B. joined as Associate Partner and Nikoleta Popkostadinova as Head of Marketing.
LAUNCHub Ventures' third fund demonstrates continuing institutional confidence in early-stage innovation across Central and Southeast Europe. With a strong track record, active initial deals, and a larger team, the firm is well positioned to support the next generation of regional founders. The final close is expected to exceed €75 million, further strengthening the funding environment for Pre-Seed and Seed-stage startups in the region.