Smartup Ventures is a venture capital firm based in Tehran, Iran, established in 2015. It invests in Iranian startups and accelerates growth by building strong partnerships with entrepreneurs, skilled professionals, business developers, angel investors, and other venture investors. The firm focuses on creating value by supporting portfolio companies through collaboration, resources, and strategic guidance to help them scale operations and reach broader markets.
IFU is a venture capital and private equity firm based in Copenhagen, Denmark, that specializes in providing equity, mezzanine financing, loans, and guarantees to projects in developing countries. Established in 1967, IFU focuses on creating and financing new businesses, joint ventures between Danish companies and local partners, and acquiring existing ventures. The firm primarily invests in sectors such as commercial services, biofuels, renewable energy, and irrigation systems, with a particular emphasis on climate and agribusiness. Investments are targeted at countries with a low gross national income per capita, as defined by specific criteria, and include regions across Africa, Asia, Europe, and Latin America. IFU typically invests between DKK 0.5 million and DKK 100 million and often seeks co-investment opportunities with Danish firms. The firm also supports small and medium-sized enterprises and provides advisory services for business investments in developing markets. With a preference for board membership, IFU aims to exit investments within five to seven years, ensuring a positive return for its stakeholders.
Cento Ventures is a Singapore-based venture capital firm established in 2011 that specializes in Series A technology and digital investments across Southeast Asia, targeting companies in Malaysia, Thailand, Singapore, Indonesia, the Philippines, and Vietnam. With an additional office in Seoul, the firm backs early-stage digital businesses aiming to become regional leaders, typically committing around US$1 million at the outset and up to US$4 million over the life of each investment.
Eastern Bell Venture Capital is a private equity and venture capital firm founded in 2010 and based in Shanghai, with an office in Beijing. It pursues RMB-denominated growth capital investments in China across sectors including logistics and supply chain, data technology, retail and branding, technology, e-commerce, consumer services, and advanced manufacturing, with an emphasis on improving industry efficiency through supply chain capabilities. The firm backs companies that leverage new channels, branded retailing, and technology-driven business models, and seeks opportunities in both domestic and cross-border contexts. By combining sector expertise with an ecosystem-oriented approach, Eastern Bell aims to support portfolio companies through strategic guidance, capital growth, and networks that enhance circulation, distribution, and market reach.
Goldfish Fund is a venture capital firm established in 2001 and based in Vilnius, Lithuania. The firm specializes in investing in early-stage startups within Frontier Markets, seeking opportunities that demonstrate strong potential for growth. Goldfish Fund focuses on a diverse array of sectors, including e-commerce, security, retail, food, restaurant chains, beauty, entertainment, robotics, travel technology, mobile applications, marketplaces, and internet technology. The firm aims to support companies with exceptional products and talented teams that aspire to develop into world-class enterprises.
Chernovetskyi Investment Group is a Kyiv-based venture capital firm founded in 2012 that invests in startups across early to late stages. The firm focuses on internet, IT, cloud computing, mobile applications, data management and big data, electronic payment systems, and software, and seeks opportunities in innovative development and technologies. It emphasizes collaboration with current project owners rather than taking over ownership and supports projects through development at all stages.
Lok Capital is an impact investment firm based in Gurgaon, India, founded in 2004. It focuses on funding early-stage and growth ventures that deliver affordable, accessible solutions in financial services, agriculture and livelihoods, healthcare, fintech, climate and sustainability, and related sectors. The firm targets companies serving underserved or low-income segments and emphasizes financial inclusion and social impact alongside financial returns. Lok Capital manages multiple venture funds with total commitments in the hundreds of millions of dollars, and pursues investments typically in India, supporting portfolio companies with growth capital, strategic guidance, and impact screening criteria that consider promoter intent, gender, geography, and income levels. Through its fund vehicles, it has supported fintech, health tech, climate tech, and agriculture initiatives, often at the Series A+ or early growth stages, with investment sizes commonly ranging from a couple of million to tens of millions per company.
Otiva is a venture capital firm founded in 2017 and based in Stockholm, Sweden, that makes equity investments across Series A to late growth rounds, including private and public companies, and emphasizes an agile, long-term approach with no fixed holding period.
European Investment Fund (EIF) is a public institution established in 1994 to improve access to finance for Europe's small and medium-sized businesses. It designs and develops venture capital and guarantee instruments to support SMEs and to catalyse private investment, aiming to build a robust European equity ecosystem. EIF engages in venture capital, growth capital, and guarantee operations, backing innovative entrepreneurs primarily in technology and life sciences, as well as across other sectors. Through cornerstone investments and fund participation, EIF seeks to crowd in private investors and stimulate venture activity across Europe. Its equity portfolio has grown substantially, with assets under management exceeding EUR 14 billion, reflecting its broad role in strengthening SME finance and supporting entrepreneurship and growth.
Finnish Industry Investment, branded as Tesi, is a government-owned investment company based in Finland. It uses proceeds from privatizations to promote Finnish business, employment, and economic growth by investing in venture capital funds and directly in growth companies, together with private co-investors. The firm funds growth, spin-offs, major industrial investments, and sector or corporate restructurings across all sectors, both directly and through private equity vehicles. Its investments target Finnish companies and aim to support rapid growth and internationalization, with an asset base exceeding 570 million euros.