TLDR:
Two months after being approved by the EIF Board, Early Game Ventures launches its second investment fund with a total value of EUR 60 million, focusing on early-stage technology startups in areas such as cyber security, enterprise software, and AI applications. The fund benefits from an investment of EUR 30 million from the Recovery Equity Fund, managed by the European Investment Fund. The management team managed to launch the new fund in record time, attracting private financing and oversubscribed VC funds. The fund aims to support young entrepreneurs in Romania and the CEE region, with a focus on providing not only money but also networking, support, and guidance.
Article Summary:
Two months after being approved by the EIF Board, Early Game Ventures has officially launched its second investment fund with a total value of EUR 60 million. The fund will focus on investing in early-stage technology startups, particularly in areas like cyber security, enterprise software, and AI applications. The funds for EGV II come from institutional partners, private individuals, and new investors, with EUR 30 million coming from the Recovery Equity Fund managed by the European Investment Fund.
The management team was able to launch the new fund in record time, receiving final approval for the investment less than two months ago. The fund aims to attract and support young entrepreneurs in Romania and the CEE region, providing not just financial backing but also networking, support, and guidance. The fund’s target size is EUR 60 million, and the team is preparing for the final closing.
Early Game Ventures is grateful to all investors who have supported them and are confident that they will be able to identify and accelerate the development of promising tech companies in the region over the next five years. The fund will also have a regional component, attracting private capital from outside Romania to invest in startups in the region. The management team includes experienced professionals in the tech startup and investment industry, such as Cristian Munteanu, Dan Călugăreanu, and Florin Vișa.
The EGV II team has been actively identifying young tech companies with potential and will soon announce the first investments from the new fund. Recently, the EGV team also announced a successful exit from EGV Fund I. Overall, Early Game Ventures II aims to support tech startups, provide networking and guidance, and contribute to the growth and development of the tech ecosystem in Romania and the CEE region.
