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.
Innovation Capital is a venture capital fund based in Sofia, Bulgaria, established to provide equity and quasi-equity funding to local startup companies. The fund has a total size of EUR 21.1 million, making it one of the few venture capital entities operating in Bulgaria. Since its inception, Innovation Capital has played a crucial role in fostering high-priority sectors within the Bulgarian economy, particularly those demonstrating potential for disruptive and scalable innovation.
The firm focuses on supporting startups at various stages, including pre-seed, seed, and acceleration phases. With a portfolio of nine companies, Innovation Capital is actively engaged in the local startup ecosystem, providing not only financial resources but also strategic guidance and mentorship. The firm is located at 6 Nikola Vaptsarov Blvd, 2nd Floor, West Entrance, Sofia 1407, Bulgaria.
Innovation Capital invests across a wide range of sectors, including SaaS, commerce, fintech, edtech, healthcare, food-agtech, consumer products, mobility, energy, and industrial applications. The fund primarily targets startups in the pre-seed, seed, and accelerator stages, with investment amounts ranging from EUR 25,000 to EUR 1,000,000. This investment strategy is designed to assist startups in scaling their businesses and establishing connections with international markets.
The firm emphasizes sectors that exhibit disruptive and scalable innovation potential, aligning its investment thesis with the growth trajectories of these industries. Innovation Capital seeks founders who demonstrate strong leadership capabilities and a clear vision for their companies. The fund's deal structure often includes equity and quasi-equity funding, allowing for flexible investment terms that cater to the unique needs of each startup.
Innovation Capital's portfolio includes nine notable companies across various sectors:
Vassil Christov: Managing Partner with extensive experience in venture capital and startup development. He has a strong background in technology investments and has led several successful funding rounds.
Dimitar Kostov: Managing Partner who specializes in financial services and e-commerce sectors. He has a proven track record of supporting startups in scaling their operations.
Borislav Stefanov: Managing Partner with expertise in healthcare and technology. He has been instrumental in guiding portfolio companies through their growth phases.
Angel Angelov: Managing Partner focused on consumer products and mobility. He brings a wealth of knowledge in market entry strategies and international expansion.
Tanya Ilieva: Investment Manager with a background in finance and strategic planning. She plays a key role in evaluating potential investments and supporting portfolio companies.
To pitch to Innovation Capital, founders should submit their proposals through the fund's website or via email at apply@innovationcapital.bg. The pitch deck should include a clear overview of the business model, market opportunity, financial projections, and the team behind the startup. Founders can expect a response within a few weeks, and warm introductions are preferred but not mandatory.
As of March 2023, Innovation Capital has continued to actively support Bulgarian startups by providing essential funding and fostering connections with international companies. The firm has maintained a notable portfolio that includes innovative companies across diverse sectors, indicating ongoing engagement in the local startup ecosystem.
Recent activities include investments in companies such as Aqualid and E-drive, which are making strides in green technology and electric vehicle services, respectively. Innovation Capital's commitment to nurturing local talent and innovation remains a cornerstone of its operations.
What are the investment criteria for Innovation Capital?
Innovation Capital invests in startups across various sectors, focusing on those with disruptive and scalable innovation potential. The fund primarily targets pre-seed, seed, and acceleration stages.
How can I apply or pitch to Innovation Capital?
Founders can apply by visiting the fund's website at innovationcapital.bg or by emailing their pitch to apply@innovationcapital.bg.
What makes Innovation Capital different from other venture capital firms?
Innovation Capital is one of the few venture capital funds in Bulgaria, focusing specifically on local startups and providing not only financial support but also strategic guidance and access to international networks.
What is the geographic scope of Innovation Capital's investments?
The fund primarily invests in startups based in Bulgaria, aiming to support the local startup ecosystem and facilitate connections with international markets.
What is the typical check size for investments?
Innovation Capital typically invests between EUR 25,000 and EUR 1,000,000 in its portfolio companies, depending on their stage and needs.
What kind of post-investment involvement does Innovation Capital have?
The firm provides ongoing mentorship, strategic guidance, and access to a network of international connections to help portfolio companies grow and succeed.
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.