Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
Eleven Ventures is a prominent venture capital firm established in 2012, based in Sofia, Bulgaria. The firm specializes in early-stage investments, particularly in technology-driven startups across Southeastern Europe. With a fund size of $68 million, Eleven Ventures has built a strong reputation for supporting innovative businesses in sectors such as fintech, healthcare, AI, commerce, and web3.
Since its inception, Eleven Ventures has backed over 150 startups, demonstrating its commitment to fostering growth in the region. The firm has closed three funds to date, with the third fund, Fund III, launched in January 2022 at €60 million ($67.6 million). Eleven Ventures is recognized as a first institutional investor in several successful companies, including Payhawk and Gtmhub, which highlights its influential role in the startup ecosystem.
Notable milestones include the successful exits of portfolio companies like SMSbump, acquired by Yotpo in 2020, and Payhawk, which raised $112 million at a $570 million valuation in 2021. Eleven Ventures continues to play an active role in the Bulgarian startup community, providing not only capital but also strategic guidance and mentorship to entrepreneurs.
Eleven Ventures primarily invests in early-stage companies, focusing on sectors such as fintech, healthcare, AI, commerce, and web3. The firm targets startups at various stages, including pre-seed, seed, seed+ (extension), Series A, and Series B. The typical initial ticket size is €100,000 for approximately 12% equity, allowing the firm to engage deeply with its portfolio companies from the outset.
The investment strategy emphasizes technology-driven businesses, with a commitment to supporting entrepreneurs throughout their growth journey. Eleven Ventures seeks to empower local heroes in Southeastern and Central/Eastern Europe, providing essential tools, mentorship, and networking opportunities to help them scale and achieve global success. The firm is known for its active mentorship and community engagement, leveraging its extensive network to add value to its portfolio companies.
Eleven Ventures has an extensive portfolio of over 150 startups, showcasing its commitment to early-stage investments in technology-driven sectors. Notable companies include:
This diverse portfolio reflects Eleven Ventures' focus on supporting innovative technology-driven businesses across various sectors.
In May 2024, Eleven Ventures participated in a €6.275 million funding round for Native Teams, alongside Fil Rouge Capital, MFG Invest, and Begin Capital. This investment underscores the firm's ongoing commitment to supporting the Bulgarian startup ecosystem and highlights its active role in funding innovative companies.
Eleven Ventures has been recognized for its contributions to the startup community, particularly as a leading early-stage VC in Bulgaria and Southeastern Europe. The firm continues to seek out promising technology-driven startups to add to its growing portfolio.
What are Eleven Ventures' investment criteria?
Eleven Ventures invests in early-stage technology-driven startups, particularly in fintech, healthcare, AI, commerce, and web3 sectors. The firm focuses on companies at pre-seed, seed, seed+, Series A, and Series B stages.
How can startups apply or pitch to Eleven Ventures?
Startups interested in pitching to Eleven Ventures should prepare a detailed pitch deck that outlines their business model, market opportunity, and growth strategy. The firm prefers initial contact through warm introductions, but cold outreach is also accepted.
What makes Eleven Ventures different from other VCs?
Eleven Ventures is recognized for its active mentorship and community engagement within the Bulgarian startup ecosystem. The firm often serves as the first institutional investor in its portfolio companies, providing not just capital but also strategic guidance.
What is the geographic scope of Eleven Ventures' investments?
The firm primarily focuses on startups based in Southeastern and Central/Eastern Europe, aiming to empower local entrepreneurs to achieve global success.
What is the typical fund size and check size for Eleven Ventures?
Eleven Ventures has closed three funds, with the latest, Fund III, totaling €60 million ($67.6 million). The typical initial ticket size for investments is €100,000 for approximately 12% equity.
What kind of post-investment involvement does Eleven Ventures have?
Eleven Ventures actively engages with its portfolio companies through mentorship, strategic guidance, and leveraging its extensive network to support growth and development.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.