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Eleven Ventures is a prominent venture capital firm established in 2012, headquartered in Sofia, Bulgaria. The firm specializes in early-stage investments, particularly in technology-driven startups across Southeastern Europe. Since its inception, Eleven Ventures has gained recognition for its commitment to supporting local entrepreneurs and fostering innovation within the region.
With a total of three funds closed, Eleven Ventures manages approximately $68 million in assets under management (AUM). The firm has backed over 150 startups, demonstrating its active role in the startup ecosystem. Notable milestones include being the first institutional investor in several successful companies, such as Payhawk and Gtmhub (now Quantive). Eleven Ventures aims to empower local heroes to build global success by providing essential resources, mentorship, and networking opportunities.
Eleven Ventures focuses on early-stage investments, targeting sectors such as fintech, healthcare, artificial intelligence, commerce, and web3. The firm typically invests at the pre-seed, seed, seed+ (extension), Series A, and Series B stages, with initial ticket sizes starting at €100,000 for approximately 12% equity. This investment strategy allows Eleven Ventures to support startups as they scale and navigate their growth trajectories.
The firm emphasizes technology-driven businesses and seeks to partner with entrepreneurs who demonstrate strong potential for innovation and market impact. Eleven Ventures is committed to providing not only capital but also strategic guidance and mentorship to help founders succeed. The firm actively engages with its portfolio companies, leveraging its extensive network to facilitate connections and resources that enhance growth opportunities.
Eleven Ventures has built a diverse portfolio of over 150 companies since its founding. Notable exits include:
Current portfolio highlights include:
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 highlights the firm's ongoing commitment to supporting the Bulgarian startup ecosystem and its active role in funding innovative companies.
What are Eleven Ventures' investment criteria?
Eleven Ventures primarily invests in early-stage technology-driven companies across sectors such as fintech, healthcare, AI, commerce, and web3. The firm looks for startups that demonstrate strong growth potential and innovative solutions.
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. While specific application forms are not mentioned, a warm introduction through mutual connections is often beneficial.
What makes Eleven Ventures different from other VCs?
Eleven Ventures is recognized as a leading early-stage VC in Bulgaria and Southeastern Europe, known for its active mentorship and community engagement. The firm has a strong track record of being the first institutional investor in several successful startups.
What is the geographic scope of Eleven Ventures' investments?
The firm focuses on startups located 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 investments?
Eleven Ventures has closed three funds, with the latest fund (Fund III) totaling approximately €60 million ($67.6 million). The initial ticket size for investments typically starts at €100,000 for around 12% equity.
What kind of post-investment involvement does Eleven Ventures have?
Eleven Ventures actively engages with its portfolio companies, providing mentorship, strategic guidance, and access to a strong network of industry connections to support their growth.
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