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PurposeTech is a pre-seed venture capital firm founded in 2023 by Zdenek Fred Fous and Impact Hub, based in Prague, Czech Republic. The firm is dedicated to investing in early-stage startups that are making significant impacts in the sectors of Health, Climate, and the Future of Work. With a strong emphasis on supporting top-tier founders, PurposeTech aims to foster innovation and drive sustainable growth in these critical areas. The firm has quickly established itself in the venture capital landscape, having made five initial investments since its launch and targeting an additional ten startups over the next 12-18 months. PurposeTech's first fund was oversubscribed and closed in 2024, reflecting strong investor confidence and interest in its mission. Although the fund size has not been publicly disclosed, the check sizes range from $10,000 to $250,000, allowing for flexible investment in promising startups. The firm operates with a hybrid model, combining institutional funding with accelerator-like support through its partnership with Impact Hub, which provides a robust mentorship infrastructure and a global network of over 100 hubs.
PurposeTech invests in early-stage startups across three primary verticals: Health, Climate, and Future of Work. The fund specifically targets HealthTech startups that enhance accessibility and efficiency in healthcare, ClimateTech ventures that promote sustainability and low-carbon solutions, and WorkTech companies that improve workplace flexibility and inclusivity. By focusing on these sectors, PurposeTech aims to back founders who are reshaping industries and driving positive change. The firm is particularly interested in startups that demonstrate innovative approaches to pressing global challenges, such as improving healthcare delivery, addressing climate change, and enhancing workplace dynamics. PurposeTech's investment strategy is informed by a commitment to supporting top 0.5% founders, as evidenced by their rigorous review process of over 1,100 startups in Central and Eastern Europe (CEE). This focus on high-potential founders aligns with the growing opportunity in impact funding, which has seen significant growth in the CEE region, increasing from €590 million in 2018 to €1.7 billion in 2023.
PurposeTech's portfolio includes notable investments in five innovative companies that exemplify its commitment to impactful sectors. Among these are Lifeyear, a cardiovascular digital therapeutics company based in Estonia; Tingit, which provides zero-effort fashion repairs from Lithuania; and SafePAS, a portable drug analyzer also from Estonia. Additionally, the portfolio features Doc2Me, an AI patient education platform operating in Austria and the USA, and Willow, an AI-powered grief support service from Austria and France. Other companies in the portfolio include eNOugh, Mamio, Neya, KANO Care, and Fether Labs. This diverse range of investments highlights PurposeTech's focus on supporting startups that are not only innovative but also address critical societal challenges across healthcare, climate, and the future of work.
Zdenek Fred Fous - Co-founder and serial entrepreneur with extensive experience in the startup ecosystem, focusing on impactful ventures.
To pitch PurposeTech, founders should visit their official pitch URL at purposetech.vc. The firm is open to both warm introductions and cold applications, but they encourage startups to clearly articulate their vision and alignment with PurposeTech's focus areas in their proposals.
PurposeTech operates the Startup Funding Bootcamp, which has supported over 130 founders in its last cohort. This program provides valuable resources and mentorship, helping startups refine their pitches and connect with potential investors.
Since its launch in 2023, PurposeTech has made five initial investments and is actively seeking to invest in ten additional startups over the next 12-18 months. The firm has been featured in various media outlets, including The Recursive and Silicon Canals, highlighting its commitment to addressing the funding gap in the CEE region.
PurposeTech primarily invests in the pre-seed and seed stages of startup development. This focus allows the firm to support early-stage companies that are in the initial phases of growth and innovation.
Founders interested in pitching to PurposeTech can submit their proposals through their official pitch URL at purposetech.vc. The firm welcomes applications from startups that align with their investment focus on Health, Climate, and Future of Work.
PurposeTech focuses on three primary sectors: Health, Climate, and Future of Work. They seek to invest in startups that are making significant impacts in these areas, particularly those that demonstrate innovative solutions to pressing global challenges.
The typical check size for PurposeTech ranges from $10,000 to $250,000. This flexibility allows the firm to support a variety of early-stage startups with different funding needs.
PurposeTech invests globally, with a particular emphasis on Europe and Central & Eastern Europe. They are committed to supporting founders with global ambitions while also focusing on the growing opportunities within the CEE region.
Beyond capital, PurposeTech leverages the extensive network and mentorship infrastructure of Impact Hub to support its portfolio companies. Founders gain access to a community of over 100 hubs globally, enhancing their growth potential through strategic guidance and resources.
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