Fil Rouge Capital (FRC) specializes in investing in early-stage businesses, focusing on angel investments, seed funding, venture capital, and Series A rounds through a mix of equity and debt structures. The firm aims to enhance its investments by leveraging the skills and experiences of its Founders, who possess expertise in technology and services, as well as a strong entrepreneurial background. Based in Ljubljana, Slovenia, FRC has a primary focus on Central and Eastern Europe, Austria, and Southern Germany, while remaining open to opportunities across Europe and the United States. The Founders maintain robust connections with accelerators in Central Europe and Silicon Valley, which further supports their investment strategy.

South Central Ventures, established in 2015, is a venture capital firm headquartered in Zagreb, Croatia, with additional offices in Belgrade, Serbia; Ljubljana, Slovenia; and Skopje, Macedonia. The firm specializes in direct investments in early-stage technology companies, focusing on sectors such as Information and Communications Technology (ICT), SaaS, HealthTech, FinTech, and digital media. It primarily invests in the Balkans, with a typical investment size ranging from €0.1 million to €3 million per company, aiming for a stake between 25% and 49%. South Central Ventures has invested in approximately 40 early-stage tech companies, playing a significant role in the regional start-up ecosystem.

European Bank for Reconstruction and Development finances projects and provides advisory services to the public and private sectors. It supports new ventures and expansion in existing companies through project financing, loans, and equity or quasi-equity investments, including equity funds and guarantees, and it partners with private entities to invest across sectors such as banking, energy, manufacturing, infrastructure, information technology, and services. The bank also helps publicly owned entities privatize and restructure municipal services and engages in policy reform dialogue and advisory services, along with trade finance and loan syndication. Founded in 1990 and headquartered in London, it operates across regions including Southeastern and Central Europe, the Baltic States, Eastern Europe and the Caucasus, Central Asia, and parts of the Middle East and Africa, aiming to foster market-oriented change and private sector development by mobilizing capital for sustainable investments. It has invested more than €130 billion in over 5,200 projects.

BlackPeak Capital is a private equity and venture capital firm investing in small and medium-sized enterprises across Southeast Europe. It focuses on early-stage, growth-oriented companies with unique technologies or export potential, typically investing between €4 million to €10 million per transaction.

AlpVent is a Swiss investment company based in Zug that specializes in supporting promising start-ups. Founded in 2016, the firm leverages 25 years of entrepreneurial experience to understand and address the needs of entrepreneurs. AlpVent provides not only investment capital but also management consulting services, offering what is often referred to as "smart money" support. Recognizing that many founders excel in product development but struggle with promotion, AlpVent has created a dedicated sales department. This team offers sales analyses and consulting services, and can even act as an agent or distributor for start-ups. Their services are tailored for the competitive German-speaking markets and South-Eastern Europe, including Germany, Switzerland, Austria, Slovenia, and Croatia. The firm focuses on investments in sectors such as transportation, commercial products, software, and manufacturing.

Innova Capital is a private equity firm focused on growth capital, buyouts, buyins, bridge financing, founder succession, spin-offs, buy-and-build, replacement capital, platform strategies, and cross-border expansion in mature and mid-market companies. It does not invest in turnarounds or startups. The firm targets industries including construction, manufacturing, energy, technology, media, financial services, consumer goods, telecommunications, healthcare, outsourcing, and other business services, with a geographic focus on Central Europe and Central Eastern Europe, particularly Poland, Slovakia, Croatia, Hungary, Romania, Moldova, the Czech Republic, Bulgaria, Germany, and Austria. Typical deal sizes range from €5 million to €75 million in equity, with enterprise values between $50 million and $184 million, and it pursues both majority and minority stakes. It can provide additional equity, debt, and mezzanine capital through its network of co-investors and lenders. Investments typically span three to five years, with exits by sale to a strategic investor or via an initial public offering. The firm is headquartered in Warsaw and operates an office in Bucharest; it was founded in 1994.

Earlybird Venture Capital GmbH & Co. KG is a venture capital firm specializing in early stage, startups, growth and development stage, late, and expansion investments in private companies in seed, series A and B with a potential for later follow on investments. The firm typically invests in disruptive global consumer and enterprise internet and technology businesses, mobility and logistics, internet of things, marketplaces, communities, social networks, blockchain, mobile services, insurance, enterprise productivity, vertical integration, data, analytics and artificial intelligence, cloud computing, software/information technology, communications, healthcare, diagnostics, convergent technologies, and technology enabled services companies. It also invests in internet services, financial technology, cleantech, health technologies, web servers, B2B commerce, e-commerce software, digital media technologies, hardware, diversified financial services, media, medical technology, medical devices and biotech platform technologies. The firm typically invests in globally focusing on companies based in Europe, with an emphasis on German-speaking countries and Central Eastern Europe. The firm also invests in United States of America, Ukraine, GSA, Nordics, United Kingdom, Benelux, France, Southern Europe, Slovenia, Slovakia, Serbia, Romania, Western Europe, Poland, Montenegro, Moldova, Macedonia, Lithuania, Latvia, Kosovo, Hungary, Estonia, Czech Republic, Croatia, Bulgaria, Bosnia and Herzegovina, Albania, Germany, Turkey, and Jordan. It initially invests between €200,000 million ($0.22 million) and €5 million ($7.18 million) and can participate in subsequent rounds up to a total investment of €10 million ($14.37 million) to €15 million ($21.56 million) per Portfolio Company. The firm prefers to be the lead investor, take a minority stake, and a board membership in the portfolio companies. Earlybird Venture Capital GmbH & Co. KG was founded in 1997 and is based in Berlin, Germany with additional offices in Munich, Germany; Istanbul, Turkey; and the United States.

FreshBooks is a cloud-based accounting software company that simplifies financial management for business owners. Serving customers in over 160 countries, it offers an intuitive platform for invoicing, expense management, online payments, and time tracking. The software is designed to automate time-consuming tasks, allowing small businesses to maintain professional bookkeeping with ease. FreshBooks is recognized for its exceptional customer support, having received multiple accolades for its service quality. With offices in Canada, Croatia, Mexico, the Netherlands, and the United States, FreshBooks caters to businesses of all sizes, helping them streamline their financial processes and enhance client engagement.

Invera Equity Partners, established in 2020 and based in Zagreb, Croatia, is a private equity firm specializing in acquiring controlling interests in companies across various sectors. The firm focuses on business services, telecommunications, media and technology, manufacturing and industrial production, hospitality and entertainment, healthcare, and food and beverage industries, particularly in Southeastern Europe. Invera Equity Partners aims to enhance corporate strategy, expand market access, and leverage technology to drive growth and improve performance in its portfolio companies.

Kredyt Inkaso S.A. is a prominent provider of debt management services in Poland and several other countries, including Russia, Romania, Bulgaria, and Croatia. Based in Warsaw, the company specializes in payment monitoring and debt collection, particularly through court and enforcement procedures. With a workforce of nearly 200 employees, Kredyt Inkaso has established itself as a key player in the Polish market by collaborating with major banks and telecommunications firms for over a decade. The company focuses on acquiring large debt portfolios deemed difficult to recover by original creditors, employing various strategies to facilitate their payment.

Founded in 2019, Oktogon Ventures is a venture capital firm based in Budapest, Hungary. It focuses on early-stage investments in technology-heavy startups across Central and Eastern Europe, with a particular emphasis on Hungary, Slovakia, the Czech Republic, Poland, Croatia, Romania, Slovenia, and Bulgaria. The firm leverages its local background, operational expertise, and global network to support CEE startups in realizing their full potential.

ExtensionEngine, LLC, founded in 2000 and headquartered in Boston, focuses on developing online education platforms. With additional offices in New York, Croatia, and Tel Aviv, the company serves a diverse client base that includes universities, corporations, and prominent learning institutions. ExtensionEngine is technology agnostic, allowing it to integrate both off-the-shelf and custom solutions to create tailored educational experiences. The company has particular expertise in Open edX, enhancing its ability to deliver effective online learning solutions.

Aterian is a platform specializing in consumer product development and management. Established in 2014, it operates globally with offices across North America, Europe, Asia, and Australia. Aterian builds, acquires, and partners with brands to create top-selling products across categories like home appliances, beauty products, and electronics. It leverages proprietary software and agile supply chains for efficient product creation.

Rimac Group, based in Sveta Nedelja, Croatia, specializes in the design, development, and manufacturing of electric vehicles and advanced automotive components. The company produces high-performance electric hypercars and a variety of electric vehicle components, including drivetrains, battery systems, and infotainment systems. Rimac Group also offers extensive engineering solutions, such as concept design, production strategy development, and quality control. In addition to manufacturing, the company provides prototyping services and the conversion of internal combustion engines to electric or hybrid powertrains. Founded in 2009, Rimac Group has established a strategic partnership with Hyundai Motor, further enhancing its capabilities in the automotive sector. The organization is driven by a passion for innovation and aims to redefine the electric vehicle landscape through cutting-edge technology and design.

MOL Group is a multinational integrated oil and gas company active across the energy value chain, including exploration and production, refining, petrochemicals, and retail. It produces and sells gasoline, diesel, heating oil, aviation fuel, lubricants, bitumen, sulfur, and liquefied petroleum gas, and manufactures petrochemicals. The business spans upstream and downstream operations, consumer services, gas midstream, and corporate activities. Downstream activities transform crude oil into refined products for household, industrial, and transport use, distributed through an international network. The company serves markets in Hungary and neighboring European countries, with an integrated model that links crude sourcing with end-user markets.

BMO Global Asset Management, headquartered in Chicago with an additional office in Sydney, is a subsidiary of Bank of Montreal. It is a global investment firm dedicated to serving a wide range of clients, including institutions, wealth managers, advisers, and private investors. The company offers access to specialist boutique investment teams worldwide, providing outcome-oriented services across various asset classes. Its portfolio spans private equity funds and stakes in individual private businesses, carefully selected for medium to long-term capital growth and attractive dividends. BMO Global Asset Management is part of BMO Financial Group, one of North America's largest financial institutions.

big_bets is a venture capital firm based in Sao Paulo, Brazil, founded in 2019, that backs software-intensive companies built around code and data. Its investment thesis targets industries undergoing digital transformation and seeks to back entrepreneurs who can accelerate this shift, across sectors including financial services, identity, healthcare and diagnostics, media, education, energy distribution, and developer tools.

Abstraction Capital, established in 2020 and headquartered in Kansas City, Missouri, is an early-stage venture capital firm. It specializes in investing in pre-seed or seed rounds for software companies developing technical tools, APIs, and infrastructure that enhance developer productivity and streamline software workflows. The firm's portfolio includes companies building open-source tools, low-code platforms, and solutions for software observability and DevOps.

Founded in Berlin in 2017, Lunar Ventures is a venture capital firm focusing on seed-stage investments in deep tech startups across Europe. The firm specializes in artificial intelligence and machine learning, blockchain, cybersecurity, big data analytics, and other emerging technologies.

HV Capital is a Munich-based venture capital firm supporting founders in developing internet companies. Established in 2000, it has invested in over 200 companies including Zalando and Delivery Hero, with fund sizes ranging from €500,000 to €50 million.

Founded in 2023, Fifth Quarter Ventures is a venture capital firm based in Novi Sad, Serbia. It focuses on investing in early-stage startups operating in open-source software, Industry 5.0, artificial intelligence, development tools, cryptocurrency, web3, and other technology sectors across the Adriatic region.

Fortino Capital is a Belgium-based venture capital and growth equity firm that provides expansion capital and strategic support to technology companies across Europe, with a focus on Western Europe and the Benelux region. It backs B2B SaaS and software firms, as well as media and high-end product manufacturing, helping SMEs build brands, sharpen go-to-market strategies, and scale internationally. The firm seeks companies that can reinvent their business models through best-in-class management practices and state-of-the-art technologies.

Established in 1996, Morgan Stanley Expansion Capital is a growth equity firm based in New York. It focuses on late-stage investments across technology, healthcare, consumer, digital media, and other high-growth sectors. The firm leverages its extensive experience and global network to support successful entrepreneurs and create value through operational improvements.

Invests in first and second lien debt; unitranche loans, mezzanine debt, equity and to support middle-market companies.

Founded in 1984, Summit Partners is a global investment firm that provides growth equity and fixed income investments. With over $35 billion raised and invested in more than 460 companies across technology, healthcare, life sciences, and other growth industries, Summit offers infrastructure development, executive recruitment, strategic advice, and support for public offerings or mergers.

Founded in 2016 by Fleur Pellerin, Korelya Capital is a venture capital firm headquartered in Paris with offices in London, Seoul, and Singapore. It manages over EUR 500 million and invests in ambitious tech startups across Asia and Europe, providing growth capital and access to Asian markets.

Insight Partners is a global software investor that partners with growth-stage technology and software companies. The firm focuses on growth-stage software, internet, and data services, with emphasis on fintech, cybersecurity, artificial intelligence and machine learning, DevOps, and healthcare. Based in New York City with offices in London, Tel Aviv, and Palo Alto, Insight Partners has backed more than 750 companies worldwide and has more than 55 portfolio companies that have achieved an IPO. As of 2022, the firm reports over $75 billion in assets under management. It seeks to fund and work closely with visionary executives, providing practical, hands-on software expertise to support growth from initial investment through to IPO.

Allectus Capital is an investment company focused on potentially disruptive technology businesses. It oversees approximately USD$300 million in investments primarily in Asia Pacific and the United Kingdom for clients of ICM Limited. Allectus invests with a long-term perspective, seeking deep value opportunities.

Grupo Bimbo SAB de CV is an international manufacturer of baking products, operating in over 22 countries across the Americas, Europe, and Asia. The company specializes in a wide array of products, including packed bread, sweet baked goods, salty snacks, cookies, tortillas, pitas, and confectionery items. Key brands under Grupo Bimbo include Bimbo, Ideal, Ricolino, Oroweat, Arnold, Thomas, and Sara Lee. The company maintains a robust direct distribution network, ensuring that products are efficiently delivered from its manufacturing facilities located in regions such as Uruguay, Rio de Janeiro, China, Santiago de Chile, and Argentina to various sales centers and warehouses. Grupo Bimbo's extensive product range includes sliced bread, buns, pastries, cakes, cookies, toast, English muffins, bagels, tortillas, flatbreads, and other snack items.

Founded in 2001 and based in Zug, Switzerland, HBM Healthcare Investments is a venture capital firm focusing on the healthcare sector. It invests globally in mature emerging companies primarily in biotechnology/human medicine, diagnostics, and medical technology sectors.

AXA Venture Partners is an independent global investment platform that targets high-growth technology companies across Europe and North America. It operates a multi-stage investment approach with four strategies—venture, early growth, growth, and a fund of funds—and manages a substantial asset base, reported as more than €2.5 billion. The firm has backed numerous technology companies and funds, with more than 60 technology companies and more than 60 funds in its portfolio, and it works closely with founders to help scale their businesses globally. The team maintains offices in San Francisco, New York, London, Paris, and Hong Kong to support portfolio companies and sourcing.

LAUNCHub Ventures is a Sofia, Bulgaria-based venture capital firm founded in 2012 that focuses on seed-stage technology startups in Southeastern and Central Eastern Europe. The firm typically makes initial investments of €300k to €2M and can participate in rounds up to €4M, supporting portfolio companies beyond capital. It backs scalable early-stage ventures across AI/ML, SaaS, the future of work, proptech, crypto and blockchain, devtools, marketplaces, healthtech, fintech, hardware and robotics, with a preference for founders from SEE and CEE regions who have traction. In addition to funding, LAUNCHub provides hands-on support and programs such as its Series A academy to help companies reach milestones and secure follow-on rounds. The firm aims to grow the CEE startup ecosystem and collaborates with entrepreneurs based in the region and in major global hubs.

Berliner Volksbank Ventures is the venture capital arm of Berliner Volksbank, specializing in early-stage investments. Founded in 2015, it focuses on technology, digital business, and financial technology sectors, typically investing between €250,000 and €1 million per company.

Newable Limited is a London-based company that offers finance, consulting, and property services specifically tailored for start-ups and small to medium-sized enterprises (SMEs) in the UK. Founded in 2009, Newable focuses on fostering a supportive environment that empowers both its employees and clients. The company aims to cultivate confidence and leadership, enabling individuals and businesses to realize their potential. Additionally, Newable Ventures operates as a private investment group that connects early-stage investors with high-growth scale-up companies. It provides opportunities for private investors, family offices, and corporate investors to engage with innovative, knowledge-intensive firms, often facilitating collaborative investment efforts where investors also play active roles in guiding the companies they back. With over 30 years of experience, Newable has built a comprehensive ecosystem of investors and partners, ensuring a robust pipeline of early-stage investment opportunities.

Hardware Club is a Paris-headquartered venture capital firm that focuses on seed-stage investments in hardware and technology companies. It backs startups in areas such as digital health, artificial intelligence, new sensors, connected devices, smart transportation, and consumer hardware, with a geographically broad remit that includes the United States, Europe, and beyond. The firm operates a global community of hardware startups and provides capital alongside dedicated resources, partnerships, and events to help founders tackle hard problems. It maintains a presence in Paris with additional offices in Taipei, Tokyo, and San Francisco, enabling collaboration across regions.

Redstone provides Intelligent Infrastructure Management (IIM) solutions that help organisations implement effective infrastructure strategies and comply with regulatory and best-practice frameworks such as ITIL, MiFID, Sarbanes-Oxley and Basel II. With over 4 million IIM ports deployed in the UK, Redstone is a leading player in the fast-growing IIM sector and has a track record across all main IIM systems. The company’s in-house software team offers development services to integrate IIM with business applications, enabling end-to-end visibility of the physical and logical components of a network. Redstone supports clients through project and service delivery to address diverse IIM requirements, delivering comprehensive solutions that align infrastructure management with governance and operational objectives.

Headline is a San Francisco-based venture capital firm founded in 1998 (formerly e.ventures). It maintains a global footprint with activity in seven cities and invests across geographies, leading rounds at every stage. The firm operates Early Stage Funds aligned with regional focus in the US, Europe, Asia, and Brazil to invest locally, and a Growth Fund based in San Francisco that participates from Series B onward. It backs companies across consumer, media, retail, financial services, healthcare, information technology, software-as-a-service, mobile, cybersecurity, e-commerce, artificial intelligence, advertising technology, and digital health. Notable portfolio companies include Sonos, The RealReal, Creditas, Sorare, Pismo, AppFolio, goPuff, Acorns, Farfetch, Segment, Bumble, and Yeahka. Headline is a registered investment adviser.

EASME is a European Union executive agency that supports small and medium-sized enterprises and promotes innovation in Europe. It manages projects in the areas of small and medium-sized enterprises, as well as the environment, energy, and maritime sectors, funded by COSME, LIFE, and EMFF. EASME organizes the European Sustainable Energy Week and serves industries such as environmental management, energy production, and maritime activities.

Trind Ventures is a venture capital firm.

aws Gründerfonds is a venture capital firm based in Vienna, Austria, established in 2013. The firm specializes in investing in high-growth Austrian start-ups, focusing primarily on those in their later seed and (pre-)series-A stages. With a fund size of 140 million euros, aws Gründerfonds targets a diverse range of sectors, including business products and services, consumer products and services, healthcare, information technology, energy, financial services, manufacturing, and technology-based industries such as artificial intelligence and cybersecurity. Its objective is to support the development of innovative companies that demonstrate significant growth potential within the Austrian market.

Eleven Ventures is a venture capital firm based in Sofia, Bulgaria, specializing in early-stage investments in technology-driven startups. Founded in 2012, the firm focuses on sectors such as Fintech, HealthTech, e-commerce, the Future of Food, the Future of Work, software tools and platforms, consumer products, Sportstech, gaming, Adtech, mobility, and home automation. Eleven Ventures typically invests between €0.025 million and €0.5 million, taking minority stakes in its portfolio companies, generally ranging from 6% to 30% equity. The firm runs a three-month accelerator program quarterly, mentoring 10-15 teams per cycle, providing not only capital but also office space and back-office support. Additionally, accepted teams benefit from free deals with technology service providers, enhancing their operational capabilities. Eleven Ventures aims to foster a vibrant startup ecosystem in Southeast Europe, particularly in Bulgaria, while also being open to investing in startups from other countries, provided they participate in the program.

Established in 2018, Porsche Ventures is a venture capital arm of the Porsche Group. It focuses on early-stage and growth-phase investments in mobility, digital lifestyle, future technologies such as AI and blockchain, and sustainability sectors.

Established in 2019, Silicon Gardens is a venture capital firm based in Ljubljana, Slovenia. It focuses on investing in innovative and technology-driven companies.

Established in 2014, the London Co-Investment Fund aims to facilitate significant funding for early-stage tech businesses in London that already have potential investors. By providing additional capital, these startups gain more time and resources to validate their business models, enhancing their prospects for subsequent funding rounds and growth.

Enterprise Investors, established in 1990, is a prominent private equity firm headquartered in Warsaw, Poland. Specializing in mid-market buyouts and expansion financing, the firm focuses on succession-driven transactions and high-growth enterprises across various sectors, including consumer goods and retail, financial services, IT, industrial products, business process outsourcing, and healthcare. With over three decades of experience, Enterprise Investors has raised eight funds, totaling EUR 2 billion, and invested EUR 1.7 billion across 137 companies in Central and Eastern Europe.

JPMorgan Chase & Co. is a prominent financial holding company based in New York, United States, that provides a wide range of financial services globally. Established in 2000, the firm operates through various segments, including investment banking, commercial banking, and asset management. Its investment banking division offers services such as corporate advisory, capital raising in equity and debt markets, risk management, and market-making. Additionally, JPMorgan Chase serves consumers, small businesses, and commercial clients by delivering innovative banking solutions and financial transaction processing. With a legacy dating back to 1877, the company has built a reputation for providing comprehensive financial strategies and services to meet the diverse needs of its clientele.

United Group is a leading telecommunications company offering multi-play services to residential and business customers. It boasts extensive network coverage and provides a wide range of content, from local to global selections.

Sand Hill Angels, established in 2000, is a prominent angel investor group based in Mountain View, California, comprising over 60 successful Silicon Valley technology professionals. The group is dedicated to supporting and growing startup companies, with a focus on seed-stage technology investments across North America. They typically invest between $300,000 to $500,000 in private companies, with a pre-money valuation of less than $5 million. Sand Hill Angels' investment preferences span various sectors, including clean technology, Internet startups, information sciences, and life sciences, with a particular interest in semiconductors, enterprise software, storage, communications, medical devices, diagnostics, and bioinformatics. The group collaborates openly with venture capital funds, other angel organizations, and the broader Bay Area ecosystem to foster the growth of technology startups.

SFC Capital is a United Kingdom based venture capital firm founded in 2012 that focuses on early-stage investments, including pre-seed and seed rounds, in sectors such as software, technology, e-commerce, consumer products, enterprise solutions, green technology, medical technology, and hospitality. It backs UK startups through an Angel Network and seed funds, providing capital and guidance and offering access to SEIS- and EIS-qualifying investment opportunities. The firm is described as a leading seed investor in the UK.

Mid Europa Partners is a private equity firm specializing in buyouts, with a focus on the growth markets of Central and Eastern Europe and Turkey. The firm, established in 1999, has raised approximately €4.6 billion across multiple funds. Mid Europa's investment strategy is to acquire mid-market, market-leading companies in domestic-focused growth industries across the region. The team, predominantly from the region, combines local investment and operational experience with Western European practices in due diligence, deal structuring, financing, and value creation. Since inception, the firm has completed 30 investments across 18 countries, demonstrating a pan-regional approach.