Eleven Ventures, a Bulgarian venture capital firm focused on pre-seed and seed investing in South Eastern Europe (SEE), has held the final closing of ‘Eleven Fund III’ at EUR60 million.
The firm’s latest fund is 10-times the size of its previous 2018 fund.
Some 80 per cent of the new fund’s backers are repeat investors, including EIF; and the funds LP-base includes over 60 individuals who bring a wealth of experience to the table, including deep global networks and decades of entrepreneurial experience. These experts are not ‘passive’ LPs either, with many offering follow-on funding, mentoring, support, and network-access to Eleven Ventures’ portfolio companies.
Eleven Fund III has already made seven new investments from the new fund, including the Romanian Frisbo (Ecomtech), ProductLead (Ecomtech) and SuperOkay (Future of Work), the Greek Biopix (Healthcare) and the Bulgarian PlanDelta (Future of Work), Metasim (Future of Work) and BeMe (Healthcare).
