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IMPETUS Capital is a venture capital firm established to bolster technology growth in Emerging Europe, particularly from its base in Sofia, Bulgaria. Founded with the mission to support strong, founder-led tech companies, IMPETUS Capital has developed a reputation for investing in firms that are experiencing rapid growth and are poised for global expansion. The firm emphasizes a hands-on approach, working closely with portfolio companies to navigate the complexities of scaling operations.
Currently, IMPETUS Capital manages a portfolio of 17 companies, focusing on early growth and pre-IPO stages. The firm has cultivated a strong presence in the region, with a particular interest in companies founded by teams from Bulgaria and Romania. This geographic focus allows IMPETUS Capital to leverage local market knowledge while also tapping into broader European tech trends.
Notable milestones include the successful investments in various sectors such as AI, biotech, and healthcare, showcasing the firm’s commitment to fostering innovation in technology. The firm operates from a strategically located office in Sofia, which serves as a hub for its investment activities across North America and Europe.
IMPETUS Capital specializes in investing in early growth and pre-IPO companies, structuring deals that extend through to exit windows. The firm primarily targets technology companies founded by Emerging European teams, with a specific preference for those with connections to Bulgaria and Romania. This focus allows IMPETUS Capital to identify and support startups that are not only innovative but also have the potential for significant market impact.
The sectors of interest include AI, biotech, SaaS, healthcare, consumer products, logistics, climate technology, cybersecurity, proptech, and industrial applications. The firm typically invests at the pre-seed, seed, growth equity, and pre-IPO stages, providing flexible check sizes to accommodate the varying needs of its portfolio companies. IMPETUS Capital looks for strong, founder-led teams that demonstrate a clear vision and the capability to execute their business plans effectively.
IMPETUS Capital's portfolio comprises 17 companies across various sectors, showcasing its diverse investment strategy. Notable portfolio companies include:
This diverse portfolio reflects IMPETUS Capital's commitment to supporting high-growth technology companies that are well-positioned for future success.
Viktor Manev, Partner | Viktor has extensive experience in private markets and has been instrumental in leading several successful investments at IMPETUS Capital.
Gergana Gesheva, Investment Director | Gergana specializes in private and capital markets, bringing a wealth of knowledge in evaluating investment opportunities.
Nikolay Martinov, Partner | Nikolay has a strong background in private and capital markets, focusing on identifying high-potential startups.
Christina Boseva, Investment Manager | Christina plays a key role in managing the investment process and supporting portfolio companies.
Elena Daskalova, Investment Manager | Elena is involved in deal sourcing and due diligence, contributing to the firm's investment strategy.
Hristo Milchakov, Investment Analyst | Hristo supports the investment team with market research and analysis to identify promising opportunities.
Stefan Juhls, Operating Partner | Stefan focuses on private markets, providing operational support to portfolio companies.
Walé Adepoju, Operating Partner | Walé brings expertise in private markets, assisting startups in scaling their operations.
Kostadin Stoilov, Operating Partner | Kostadin provides operational insights and guidance to help portfolio companies achieve their growth objectives.
To pitch to IMPETUS Capital, founders should use the contact form on their website or email office@impetus.capital. A comprehensive pitch deck is essential, including details about the business model, market opportunity, and team qualifications. The firm prefers to receive pitches via email and typically responds within a few weeks.
Warm introductions are beneficial but not mandatory. Founders should ensure their decks are concise and clearly articulate their value proposition and growth potential.
In early 2026, IMPETUS Capital published blog posts discussing gender health innovations and European tech performance, indicating their active engagement with industry trends. These posts reflect the firm's commitment to addressing relevant issues in the tech ecosystem and showcasing their thought leadership.
Additionally, the firm continues to expand its portfolio, focusing on technology companies that align with their investment thesis. Their recent activities highlight a proactive approach to identifying and supporting high-growth startups in Emerging Europe.
What are IMPETUS Capital's investment criteria?
IMPETUS Capital invests in early growth and pre-IPO companies, focusing on founder-led teams primarily from Emerging Europe, especially those with Bulgarian or Romanian connections. The firm looks for strong business models and innovative technology solutions.
How can startups apply or pitch to IMPETUS Capital?
Startups can pitch to IMPETUS Capital through their website at impetus.capital or via email at office@impetus.capital. A detailed pitch deck outlining the business model, market opportunity, and team background is recommended.
What makes IMPETUS Capital different from other venture capital firms?
IMPETUS Capital emphasizes investments in founder-led companies that are experiencing rapid growth. Their focus on Emerging European teams allows them to leverage local insights and foster innovation in the region.
What is the geographic scope of IMPETUS Capital's investments?
The firm primarily invests in North America and Europe, with a strong emphasis on Emerging Europe, particularly Bulgaria and Romania.
What is the typical check size for investments?
IMPETUS Capital provides flexible check sizes tailored to the needs of the portfolio companies, which can vary based on the stage of investment, from pre-seed to pre-IPO.
What kind of post-investment involvement does IMPETUS Capital have?
IMPETUS Capital actively engages with its portfolio companies, providing operational support, mentorship, and strategic guidance to help them scale effectively.
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