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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

Telekom Slovenije is a telecommunications operator based in Slovenia, established in 1995. The company provides a wide range of communications services, including fixed and mobile communication, digital and television content, multimedia services, and digital advertising. Additionally, Telekom Slovenije engages in the construction and maintenance of telecommunication networks, as well as offering system integration and cloud computing services. While the majority of its revenue is generated from operations in Slovenia, the company also maintains a presence in several other countries, including Kosovo, Bosnia and Herzegovina, Croatia, and Serbia.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

Global Finance is an independent investment firm headquartered in Athens, Greece, specializing in private equity and venture capital in Southeast Europe. The firm conducts private equity fund management, real estate development, and advisory services, managing funds with geographic and sectoral focus across the region. It makes equity investments in Greece up to €40 million and up to €15 million for Eastern European ventures, and pursues both minority and majority stakes, including co-investments for buyouts and growth opportunities. Its activity spans industries such as manufacturing, information technology, healthcare, services, and other sectors, with a regional emphasis on Greece and neighboring markets. Global Finance aims to exit investments within several years through trade sales, IPOs, management buybacks, or sales to other funds. The firm maintains offices in Athens and other Southeast European cities, including Sofia, Belgrade, and Bucharest, as well as London.

RCM Technologies offers business and technology solutions, serving various industries including aerospace, defense, energy, healthcare, and manufacturing. Established in 1971, it operates through three segments: Engineering (offering services like project management, design, analysis, and quality assurance), Specialty Health Care (providing staffing for medical practitioners such as therapists, nurses, and caregivers), and Information Technology (delivering enterprise business solutions). Headquartered in Pennsauken, New Jersey, RCM Technologies enhances operational performance for its clients.

Embassy Group is a real estate development company based in Bangalore, India, founded in 1993. The firm specializes in property development, asset management, and property management services across various sectors, including commercial, residential, retail, and hospitality. Its commercial real estate initiatives primarily focus on developing business parks for the IT and ITES sectors, special economic zones (SEZs), and corporate office spaces. Embassy Group employs Embassy Services Private Limited for property management, which encompasses security, housekeeping, maintenance, and other essential services. The group's asset management services involve building management, tenant relations, lease management, and financial oversight, including rent collection and statutory compliance. Additionally, Embassy Group oversees project development by managing construction processes, coordinating with architects, and securing necessary approvals. The company serves a diverse clientele that includes notable organizations such as IBM, Microsoft, and Vodafone, among others.

Capital Genetics is a privately-owned financial advisory firm established in 2012 and based in Ljubljana, Slovenia. The firm specializes in various services, including corporate finance, growth capital, mergers and acquisitions, private equity, and real estate valuation. Additionally, Capital Genetics engages in debt arrangements, mezzanine financing, and acquisition financing. The firm is also involved in co-investing in early-phase companies alongside its partners, demonstrating its commitment to fostering growth in emerging businesses.

AURELIUS Equity Opportunities has many years of investment and management experience in various industries and sectors. AURELIUS Equity Opportunities employs its management capacities and the necessary financial resources to invest in product innovation, sales and research in order to develop the potential of its subsidiaries. With offices in Munich, London, Madrid and Stockholm and subsidiaries in Germany, the UK, France, Poland, the Netherlands, Switzerland, Norway, Belgium, Luxembourg, Slovakia, Slovenia, the United States, China, Malaysia, India, Thailand and South Korea, AURELIUS operates throughout the world.

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.

Convent Capital is a private equity firm based in Amsterdam, Netherlands, established in 2011. The firm specializes in buy-outs, buy-ins, and growth capital investments in small and medium-sized enterprises, primarily focusing on companies headquartered in the Netherlands and those based in Belgium and Luxembourg. Convent Capital targets investments in businesses with an enterprise value ranging from €10 million to €50 million and an EBITDA between €2 million and €8 million. The firm emphasizes sustainability and seeks to create value through strategic and operational improvements. Convent Capital generally aims to acquire majority stakes in its portfolio companies, with a particular interest in the agriculture and food sectors.

R12 Kapital, established in 2009 and headquartered in Stockholm, Sweden, is a private equity firm specializing in buyout investments. It focuses on the commercial products, technology, media, and telecommunications (TMT), and industrial sectors, providing strategic advice and development support to its portfolio companies.

European Investment Bank is the EU's long-term lending institution owned by its member states. It finances public and private sector projects across transportation, energy, telecommunications, health, education, water, housing, and other sectors in the European Union and beyond. The bank provides a range of financing tools including project loans, guarantees, debt and equity investments, and risk-sharing arrangements, as well as microfinance and venture capital funds. It also offers advisory services, infrastructure funding, and support for urban development, PPPs, and sustainable energy projects. Through infrastructure and environmental funds and partnerships with banks and intermediaries, it supports SMEs, innovation, and the transition to a low-carbon economy.

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.

Invest AG is the private equity and venture capital arm of Raiffeisenlandesbank Oberösterreich Aktiengesellschaft, specializing in investments in small and medium-sized enterprises. Established in 1994 and headquartered in Linz, Austria, the firm manages a portfolio of approximately 180 million euros, focusing on expansion and growth financing, management buyouts, and other financial strategies, while avoiding investments in tourism and restructuring. It generally invests between 1.5 million and 15 million euros, seeking a stake of no more than 49 percent in the companies it supports. The firm operates primarily in southern Germany, Austria, and Switzerland, with a particular emphasis on the Upper Austrian region for young entrepreneurs. Invest AG has invested in over 140 companies across various sectors and aims to exit its investments through methods such as IPOs and trade sales. The firm prides itself on providing long-term stability and expertise to its partners, assisting them in operational, commercial, and strategic matters.

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.

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.

Axel Johnson is a private investment company, founded in 1920 and owned by the Johnson family of Stockholm, Sweden. The corporate entity serves as the home for a diverse group of industry-leading businesses, with revenues of approximately $4.0 billion and over 1,000 employees in 2011. Axel Johnson Inc. specializes in acquiring and investing in companies across various sectors including service, healthcare, technology, energy, and logistics. The firm typically holds a minority ownership in its investments and operates as a principal investment firm under the Lexa International Corporation. With offices in New York and Charlottesville, Axel Johnson Inc. focuses on owning and operating acquired businesses to drive growth and success in the market.

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.

Crescat Capital is a global macro asset management firm.

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.

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.

WestTech Ventures is a Berlin-based venture capital firm established in 2013, specializing in pre-seed and seed investments in B2B software startups across Germany. The firm concentrates on sectors such as enterprise SaaS, automation, climate solutions, the future of work, and health, aiming to support companies that strive for a positive global impact through technology. With extensive experience from over 80 direct and indirect investments, WestTech Ventures positions itself as a knowledgeable partner in the startup ecosystem, fostering growth and innovation in emerging ventures.

PPF Group is a Netherlands-based investment firm established in 1991, with a diverse portfolio that includes banking and financial services, telecommunications, biotechnology, real estate, insurance, and agriculture. The firm operates globally, extending its reach from Europe to Russia, the USA, and across Asia. PPF Group focuses on identifying business opportunities that are often overlooked or deemed too risky by others, seeking to uncover hidden value in these ventures. The firm's philosophy is rooted in responsibility, determination, and effective execution, all aimed at achieving superior investment returns. With a 25-year history, PPF Group has built a reputation for discipline, innovation, and professionalism, guided by its founder and majority shareholder, Petr Kellner.

KfW is a state-owned German development bank, established in 1948. It operates through various segments to provide financing and funding for businesses, infrastructure projects, and private individuals. KfW focuses on promoting economic, social, and ecological improvements domestically and internationally.

The company is a tobacco manufacturer located in Sarajevo, Bosnia‑Herzegovina. It produces cigarettes, cigars and other tobacco products, supplies tobacco blends and filter components, and offers supply‑chain consulting services for the tobacco industry.

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.

Central Asia Metals plc is a mining and exploration company focused on the production of base metals. It operates primarily in Kazakhstan, where its Kounrad segment produces and sells copper cathode through an off-take arrangement with Traxys. Additionally, the company has a zinc and lead mine in North Macedonia known as Sasa, which supplies zinc and lead concentrate to two European smelters under a similar off-take agreement. The majority of the company's revenue is derived from its operations in Kazakhstan, particularly from the Kounrad segment. Central Asia Metals is committed to sustainable mining practices and aims to contribute positively to the regions in which it operates.