TLDR:
- BrightCap Ventures has secured €60M for a new fund.
- The fund will focus on scaling startups from Southeastern Europe into Western European and US markets.
In a recent development, Sofia-based BrightCap Ventures has announced the first close of its new fund with €60M earmarked for investments in founders from Southeastern Europe. The fund aims to help these startups scale into Western European and US markets, with ticket sizes ranging from €0.4M to €3M targeting pre-seed and seed stages.
The fund’s portfolio from Fund I has seen 5 successful exits out of 22 investments, raising over $150M in follow-on capital. BrightCap’s investments include LucidLink, Pliant, and Enview. The new fund will prioritize investing in Future of Work, Digital Health, and Fintech sectors.
BrightCap II is backed by a female majority among General Partners, with new and existing individual and corporate investors contributing over 30% private capital alongside public capital from the Recovery and Resilience Fund. The fund is looking to expand geographically and support startups with larger investments and participate in more follow-on rounds.
Moving forward, BrightCap II aims to partner with entrepreneurs in the Southeastern European region and from the diaspora. The team has already lined up a few investments and is eager to share details once finalized. With an emphasis on deeply technical founders, domain expertise, and global reach from day one, the fund seeks to capture the next generation of category-defining companies from the region and help them scale their businesses to reach global markets.
