Eleven Ventures

Eleven Ventures is a prominent early-stage venture capital firm headquartered in Sofia, Bulgaria, with a strategic focus on supporting technology companies across Southeast Europe. Established over a decade ago, the firm has solidified its position as a key player in the regional startup ecosystem, primarily targeting pre-seed and seed-stage opportunities. Their investment thesis is concentrated on high-growth sectors including Fintech, Healthcare, the Future of Work, and the Future of Food, reflecting a forward-looking approach to innovation.

The firm recently achieved a significant milestone with the closing of its fourth fund, Eleven Fund IV, at €60 million. This substantial capital pool, equivalent to approximately $64.8 million, is earmarked for new investments, with plans to back 25 to 30 promising startups. Eleven Ventures typically deploys initial checks ranging from €250,000 to €500,000, which translates to roughly $270,000 to $540,000, providing crucial early capital for nascent companies to scale.

With a robust track record spanning 11 years, Eleven Ventures has demonstrated a consistent commitment to fostering regional talent and innovation. Across its previous three funds, the firm has invested in an impressive portfolio of over 170 startups, showcasing its extensive reach and deep engagement within the Southeast European tech landscape. Furthermore, the companies within Eleven's portfolio have collectively attracted over €200 million in follow-on funding, underscoring the firm's ability to identify and nurture ventures with strong potential for subsequent growth and investor interest. This history of successful follow-on rounds highlights Eleven Ventures' role as a catalyst for further investment into the region.