SpeedInvest, one of the most prominent venture funds in Europe, with tickets up to € 500 thousand, has recently announced to focus particularly on CEE region in the following months. The fund’s team is in search of disruptive innovations across whole Europe, but in light of latest CEE breakthroughs and commonly recognized indicators of promising startup potential among East European tech developers, investors decided to take a closer look at the region.
In 2015, SpeedInvest has already invested in 14 European projects, 2 of them from CEE region. Hungarian startup Enbrite.ly, Slush 2014 winner, providing adfraud detection services, raised € 750 thousand of seed funds in April 2015, in which SpeedInvest performed as one of the three investors. The other CEE startup that SpeedInvest selected for its portfolio was a customer analytics platform for eCommerce entrepreneurs Metrilo, based in Sofia, Bulgaria.
For proper timely identification of perspective founders at the early stages, SpeedInvest has partnered with Pioneers Ventures, a pre-seed investment fund, offering financial support of € 20-100 thousand to the most outstanding emerging companies in Europe. SpeedInvest has marked three main focus fields in which they will mainly direct money from the new fund: fintech, deep tech and consumer. It’s worth mentioning that Speedinvest has already strengthened its fintech portfolio after making a few investments in Curve (a smart card aggregator based in London) and Investly (Estonian online crowdfinancing platform for SMEs). As for European deep tech startups, SpeedInvest is 100% ready to help them with bringing their initial production to US partners and customers, thanks to the special operational support model and SpeedInvest team in the Silicon Valley.
SpeedInvest CEO, Oliver Holle
SpeedInvest is the leading seed stage investment fund in Europe, based in Vienna and operating under non-traditional for venture capitalists principles. In May 2015,SpeedInvest announced its partnership with New Entreprise Associates venture fund, which invested $ 5 million in SpeedInvest and reserved $ 50 million for top EU startups’ global growth. Recently SpeedInvest has closed its $100 million funds.
What makes SpeedInvest different from comparable European funds?
Firstly, the fund’s capital is provided by numerous successful entrepreneurs, startup founders (Runtastic, Shpock, Busuu) and private investors, rather than several institutional investors. This implies active collaboration of SpeedInvest investors with selected portfolio companies.
Secondly, SpeedInvest is run by 12 partners, who spend a lot of time with 12 portfolio startups, managing business execution and corporate development. This way SeedInvest partners make a precious contribution to the startup team work. In return, they receive ‘salaries’ in the form of funds returns’ portions. Such entrepreneurial model has already proven to be successful in the first fund.
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