Regional venture capital fund manager South Central Ventures (SCV) has announced a new technology fund worth €70 million. With offices in Ljubljana, Zagreb, Belgrade and Skopje, South Central Ventures says it will continue to invest in early-stage technology startups from the Western Balkans and help them tackle global markets.
Over the past few years, the fund has invested in around 30 early-stage and early-stage companies across the region. The previous amount of SCV funds was 40 million euros.
“With this new fund, we will continue to seek out and invest in future technology winners, companies with a strong presence in the Balkans, but an international focus and ambition, to help them grow globally. » South Central Businesses said managing partner Tatjana Zabasu Mikuž.
SCV’s initial investment ticket starts at €500,000 and can reach a total of up to €5m per company over its entire funding cycle. The fund has invested in verticals such as Adtech, Agritech and SaaS, targeting start-ups that have a developed product and need funds for accelerated development and growth.
SCV’s main investments in the region include companies such as business intelligence provider Cognism and video monetization platform InPlayer, with founders from North Macedonia, plus analytics from Serbian people platform Orgnostic.
Notable support from FEI and EBDR
The new SCV fund is also supported by the European Investment Fund (EIF) and the European Bank for Reconstruction and Development (EBRD).
“Accelerating the digital transition is an important priority for the EBRD and South Central Ventures has been a valuable partner in developing South East Europe’s innovation ecosystem,” said Michael Parry, Director EBRD associate for private equity and venture capital funds.
The SCV team in Belgrade is also joined by experienced entrepreneur Goran Stevanovic, who brings 20 years of experience in the software industry to the team.
“The technology sector has the opportunity to fundamentally transform our region and, to succeed globally, we need more local start-ups. Thanks to its unique position, the South Central Ventures team can become a catalyst for this change, which is why I decided to join them,” added Stevanovic.
