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Venture to Future Fund, a.s. is a Slovak venture capital fund established in 2019, focusing on innovative local companies that have the potential to become leaders in their segments and expand into foreign markets. The fund began investing in June 2020 and has since aimed to fill the capital gap for growth-stage companies in Slovakia and Europe. With a total capital of approximately €55.7 million, the fund is backed by the European Investment Bank, the Slovak Ministry of Finance, and the EU Recovery Plan.
Headquartered in Bratislava, Slovakia, the fund operates with a 10-year lifecycle, extending its investment period through the end of 2026. It primarily targets small and medium-sized enterprises (SMEs) in growth phases, particularly those in the late-seed to Series A and B stages. The fund emphasizes a win-win approach, collaborating with independent co-investors on a pari-passu basis to ensure that portfolio companies receive the necessary resources and guidance to scale effectively.
Venture to Future Fund has invested in over 25 companies across various sectors, including AI, robotics, sustainability, healthcare, and enterprise software. The fund's mission is to transform the Slovak economy from a production-based to a knowledge-based economy, supporting innovation-driven companies with international expansion potential.
The investment strategy of Venture to Future Fund centers on small and medium-sized enterprises in growth phases, specifically from late-seed rounds to Series A and B. The fund has a minimum investment threshold of €400,000, with an optimal range between €1.5 million and €2.0 million. It can adjust investment amounts up to €7 million, including follow-on investments. The fund primarily targets companies based in Slovakia and EU-based firms that have capital ties to Slovakia.
Venture to Future Fund seeks innovative companies that have functional products tested in the market with paying customers or signed contracts. The fund's thesis emphasizes backing innovation-driven Slovak companies with the potential to become leaders in their segments and scale internationally. The fund operates with a founder-friendly approach, focusing on shared success and collaboration with independent co-investors.
Investment sectors include AI, healthcare, biotech, consumer products, and fintech. The fund's strategy is designed to support companies that are poised for significant market impact, thereby contributing to the overall growth of the Slovak startup ecosystem.
Venture to Future Fund has built a diverse portfolio of 16 companies since its inception. Notable portfolio companies include:
These companies span various sectors, including AI, healthcare, and consumer technology, showcasing the fund's commitment to supporting innovative solutions with significant market potential.
Matej Říha (Chairman): Matej has over 15 years of experience in M&A, transaction advisory, and investment banking. He leads the fund's strategic direction and investment decisions.
Martin Banský (Vice-Chairman): Martin also brings over 15 years of experience in transaction advisory and M&A, contributing to the fund's operational and investment strategies.
Miriama Hanout (Board Member): Miriama has a decade of experience in M&A, investment banking, and financial planning, playing a key role in evaluating potential investments.
Roman Horváth (Investment Manager): Roman is responsible for managing the fund's investment portfolio and identifying new opportunities in the market.
Martin Mecele (Senior Analyst): Martin supports the investment team with market research and analysis, helping to assess the viability of potential investments.
Juraj Sloboda (Senior Analyst): Juraj collaborates with the investment team to evaluate startups and their growth potential, contributing to the fund's decision-making process.
Vladimíra Čápková (Analyst): Vladimíra assists in the analysis of investment opportunities and supports the team in various operational tasks.
To pitch to Venture to Future Fund, founders should submit their proposals through the fund's website at vff.sk. The pitch deck should include detailed information about the startup's product, market opportunity, competitive landscape, and financial projections. It is advisable to highlight any existing traction, such as paying customers or signed contracts.
Response times may vary, but founders can expect to hear back within a few weeks after submission. The fund prefers warm introductions, so leveraging connections within the Slovak startup ecosystem or among co-investors can enhance the chances of a successful pitch.
In April 2024, Venture to Future Fund announced a capital increase of €15.3 million, raising its total fund size to approximately €55.7 million. This increase is aimed at supporting innovative Slovak startups and enhancing the fund's investment capacity.
In the most recent reported year, the fund invested €9.2 million, more than doubling the number of investments made compared to previous years. This reflects the fund's commitment to backing growth-stage companies in Slovakia and the EU.
Notable investments include a €3 million deal with SEC Technologies, which has developed the Falcon 4G device for gas detection, showcasing the fund's focus on innovative technology solutions.
What are the investment criteria for Venture to Future Fund?
The fund primarily invests in small and medium-sized enterprises in growth phases, specifically from late-seed rounds to Series A and B. Companies must have functional products tested in the market with paying customers or signed contracts.
How can I apply or pitch to Venture to Future Fund?
Founders can pitch their startups through the fund's website at vff.sk. It is recommended to include detailed information about the product, market potential, and financial projections in the pitch deck.
What makes Venture to Future Fund different from other investors?
The fund emphasizes a win-win strategy, collaborating with independent co-investors on a pari-passu basis. This approach ensures that portfolio companies receive not only capital but also strategic support to scale effectively.
What is the geographic scope of Venture to Future Fund?
The fund primarily targets companies based in Slovakia and EU-based firms that have capital ties to Slovakia.
What is the typical check size for investments?
The fund has a minimum investment of €400,000, with an optimal range of €1.5 million to €2.0 million, and can invest up to €7 million, including follow-on investments.
What is the fund size and duration?
Venture to Future Fund has a total capital of approximately €55.7 million and operates with a 10-year lifecycle, extending its investment period through the end of 2026.
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