Sofia-Based LAUNCHub Ventures Secures €65 Million First Close of Fund III

Sofia-based LAUNCHub Ventures has secured €65 million in commitments at the first close of its third fund, with a final target of more than €75 million. Fund III will focus on pre-seed and seed-stage technology startups across Central and Eastern Europe, Southeast Europe and the region’s diaspora.

Founded in 2012, LAUNCHub Ventures has backed nearly 100 companies through its first two funds and manages more than €100 million. Its portfolio companies have attracted more than €700 million in follow-on funding from international investors including Founders Fund, Sequoia, Index Ventures and Insight Partners. The firm has recorded 18 exits, with portfolio companies including Ampeco, FintechOS, Colossyan, Giraffe360 and Veridion.

The fund is backed by institutional investors including the European Investment Fund and the European Bank for Reconstruction and Development, alongside family offices, regional entrepreneurs and more than 10 founders who previously built and exited companies backed by LAUNCHub. The International Finance Corporation, which invested in Fund II, is considering participating in the second close. Fund III is also supported through the EU’s NextGenerationEU programme, Romania’s Recovery Equity Fund and Bulgaria’s Recovery and Resilience Plan.

Stanislav Sirakov, General Partner at LAUNCHub Ventures, remains part of the firm’s leadership alongside Raya Yunakova and Petar Tsachev, who have been promoted to General Partners. Todor Breshkov, Rumen Iliev and Irina Dimitrova also remain part of the leadership team, while Lyuben Belov and Stephane Gantchev continue as venture partners and advisers.

Fund III plans to make around 25 investments over a five-year investment period. Initial tickets will range from €300,000 to €3 million, while LAUNCHub expects to lead or co-lead rounds of up to €7 million and reserve capital for follow-on investments at Series A. The firm’s earlier Fund II closed at €74 million in 2021.

The new fund has already backed three startups: Nanogram, an AI-powered social gaming platform; Lenz, which provides an independent verification layer for claims generated by AI; and 1Club, an AI-native software platform for the sports and activities sector. Two of the three investments involve founders who had previously built companies backed by LAUNCHub, reflecting the firm’s approach of supporting entrepreneurs across multiple stages of their journeys.

Alongside the Fund III launch, LAUNCHub has expanded its team with Vedran Blagus joining as Associate Partner for Croatia, Slovenia and the Western Balkans, while Nikoleta Popkostadinova has joined as Head of Marketing. The firm says Fund III will continue its focus on backing early-stage founders across a region that has produced a growing number of globally oriented technology companies.