This recent news for Bulgaria actually has the government of Bulgaria backing Vitosha Venture’s Partners for this extensive opportunity. While this is news about a vc capital brand, Bulgaria has so many start-ups awaiting financial funding that Vitosha Venture’s may need more help from the government. Co-founder Max Gurvits pointed out that Bulgaria was ahead in the tech world before any neighboring countries by a handful of years. This means Bulgaria has an ecosystem waiting for clientele to approach them. Even better, Bulgaria has a fast-growing business district that is ready to take off on a potential global scale. Vitosha Venture Partners is located in Sofia, Bulgaria. If you click onto their company website you can access multiple stories from businesses that received funding from Vitosha Venture Partners.
The start-up companies listed on Vitosha Venture’s list are: Hobo, Quendoo, Econic One, Eirene Studio, Tokwise, Omnio, Petmall, Assen Aero, MeatMe Bar, and PelletBox- Stealth. These start-ups are receiving around €150,000 and €800,000 from investments that this vc firm intends to provide.
The total profile of start-up companies in Bulgaria Vitosha Venture’s has funded is astounding, because it can now be stated that Bulgaria is on the food tech and agtech map now.
Even better is the fact that Vitosha Venture Partners is technically a start-up vc firm themselves, this company only launched in 2020. The co-founders Erik Anderson, Marin Iliev, Maris Prii, Max Gurvits, Nikola Stojanow, and Paul Weinberger have extensive investment/accounting backgrounds.
Since Vitosha Venture Partners or VVP acts as an investment platform for new seed companies; they ended up becoming their very own lead investment company. And currently VVP’s employee status is at 1 – 10 people for this venture capital. Global investments are not on VVP’s radar for this year or the next 5, because the vc firm only invests between EUR 25,000 and EUR 1,000,000 in early-stage and growth-stage companies that are solely based in or related to Bulgaria.
This company has no news or plans about merging or selling a portion of the company, right now their growth rate is substantially impressive. Not only is this Bulgarian vc firm looking out for its own country, but they are putting Bulgarian businesses in funding production. Matter of fact, the company suggested in their latest press release that Bulgaria should be looked at in the next 3 – 5 years as a bubbling tech center.
Even though VVP may not be as global as their name should be, they have plans to go international, the true official aim is to utilize €25.9M for 126 companies. That multimillion-dollar funding should be reached by the end of 2023. The layout goal is to find ten business teams per year, be able to fund them with up to €50k and provide tailored guidance from an international network of mentors. Funding applications are available at the bottom of the venture capital website.
Co-founder Max Gurvits Twitter: https://twitter.com/mxgur