Gapminder Venture Partners BV is a venture capital firm established in 2017 and headquartered in Romania, focusing on early-stage investments in Pre-Seed, Seed, and Series A rounds. The firm targets innovative startups in sectors such as IT software and services, SaaS, machine learning, artificial intelligence, cybersecurity, digital transformation, healthcare IT, and fintech. Gapminder primarily invests in Romania and other countries in Eastern and Central Europe, aiming to support disruptive innovations that generate positive societal impacts. The firm leverages its team's background and experience to create value within the region, emphasizing a commitment to fostering bold initiatives that push boundaries in technology and business.

Early Game Ventures (EGV) is a venture capital firm established in 2018 and based in Bucharest, Romania, with registration in the Netherlands. The firm focuses on early-stage investments in innovative sectors and intellectual property-driven businesses, including enterprise technology, consumer technology, and hardware. EGV aims to invest in startups that have the potential to create new industries in emerging European markets. Their investment strategy emphasizes working with founders who are both committed and adaptable, targeting substantial market opportunities. EGV prefers to be the first institutional investor in promising startups. Additionally, the firm operates a selective concierge accelerator, accepting only five or six startups each year to participate in a highly personalized and intensive program.

CEE Equity Partners Ltd is a private equity firm focused on making investments in Central and Eastern Europe, particularly in sectors such as infrastructure, energy, telecommunications, and specialized production. The firm engages in various types of investments, including buyouts, expansion capital, and project finance, with a typical investment range of $20 million to $65 million in equity, often supplemented by debt financing. CEE Equity Partners emphasizes classic infrastructure projects like roads and ports, as well as environmental initiatives such as waste management and renewable energy sources, including wind and biomass. In telecommunications, the firm invests in fibre-optic networks and data centers. Additionally, CEE Equity Partners serves as the investment advisor for two China-CEE Funds with over $1.2 billion in committed capital, established in collaboration with China Exim Bank and other institutional investors to foster economic growth and provide returns in the region. The firm operates from its headquarters in Warsaw, Poland, with offices in several other CEE countries and the United Kingdom.

Startup Wise Guys is a prominent early-stage investor based in Tallinn, Estonia, recognized as one of the leading venture capital funds in the Central and Eastern European (CEE) region and the Nordics. Since its inception in 2012, it has operated a renowned startup accelerator that has supported over 165 startups, primarily in sectors such as B2B SaaS, Fintech, and Cybersecurity. The intensive three-month program aims to validate, develop, and market products to business clients, benefiting from the guidance of more than 200 mentors. The accelerator culminates in Demo Days and attendance at major tech events, providing startups the opportunity to pitch to investors. With a startup survival and success rate exceeding 77%, the program has facilitated two major exits and fosters a robust alumni network of over 145 startups across more than 40 countries. Additionally, Startup Wise Guys manages specific funds targeting investments in various sectors, including technology and clean tech, with a focus on early-stage ventures.

LAUNCHub Fund, established in 2012 and based in Sofia, Bulgaria, is a venture capital firm that focuses on seed and early-stage investments in digital startups throughout Southeastern Europe. With a total management capacity of €30 million, the fund primarily invests in sectors such as SaaS, enterprise software, health-tech, e-commerce, mobile, and IoT, although it is open to opportunities in other verticals as well. The typical investment size ranges from €300,000 to €700,000, with potential expansions up to €1.5 million per company. LAUNCHub Fund aims to support innovative ventures that are positioned to drive growth in the regional technology landscape.

Gecad Ventures invests in start-up and expansion-phase hi-tech companies from CEE with meaningful prospects of scaling internationally, including verticals like Cybersecurity, Fintech, AI/ML, AR & VR, Transportation, IoT and Agritech. We are an early investor which provides value by building strong strategic relationships with the founding teams, while supporting them in achieving their business objectives. We invest between €1-7 million in equity and also share a wealth of resources with the objective of fast growth and a presence in international markets. Previously Gecad Group, Gecad Ventures history spans for over 20 years and includes notable exits to Microsoft, Francisco Partners, Naspers, Fitbit.

Credo Ventures is a venture capital firm based in Prague, specializing in early-stage investments, primarily targeting companies in Central and Eastern Europe, particularly the Czech Republic and Slovakia. Founded in 2009, the firm focuses on sectors such as information technology, software, Internet, mobile, and healthcare. Credo Ventures seeks to identify high-growth potential companies that possess international ambitions and the capability to execute their business plans. The firm typically invests between €0.1 million and €2.7 million per company, supporting their growth objectives, including expansion into global markets. By concentrating on innovative sectors, Credo Ventures aims to back promising startups and contribute to their development and success.

Abris Capital Partners is an independent private equity firm based in Warsaw, Poland, established in 2007. The firm specializes in management buyouts, acquisitions, and expansion capital investments, primarily targeting middle market companies in Central and Eastern Europe, with a particular focus on Poland, Bulgaria, Romania, and Ukraine. Abris seeks to acquire majority stakes in growth-stage companies across various sectors, including industrial, commercial, and services, as well as healthcare, technology, and logistics. The firm typically invests between €15 million and €75 million and aims for a typical investment period of three to five years. Abris Capital Partners is committed to implementing operational and strategic changes in its portfolio companies, helping them transition from public to private ownership when necessary. The firm avoids investments in certain high-risk industries and prefers companies with positive operational profits. Exits are generally achieved through trade sales, initial public offerings, or secondary sales. In addition to its Warsaw headquarters, Abris has offices in Leeds, Nicosia, and Bucharest.

NCH Capital Inc. is a private equity and venture capital firm established in 1993 and headquartered in New York. The firm focuses on various investment strategies, including incubation, growth capital, and turnaround investments, particularly in emerging markets. NCH Capital specializes in sectors such as consumer products, financial services, real estate, and agribusiness, including agricultural land and related infrastructure. The firm primarily targets investments in Eastern Europe, including countries like Ukraine, Russia, and Romania, as well as in Brazil's public equity markets. NCH Capital typically seeks both control and minority stakes in its portfolio companies and prefers to take active roles, often securing board seats. With additional offices across Europe, Asia, and South America, NCH Capital aims to leverage local opportunities through its diverse investment strategies.

MVP Angels is a business angels network that collaborates with the MVP Academy accelerator to support early-stage tech startups in the Central and Eastern Europe (CEE) region. By syndicating a micro-investment fund for each cohort of the MVP Academy, MVP Angels provides financial backing to promising teams. This initiative is part of a broader investment readiness program offered by MVP Academy, which includes an 8-week onsite acceleration program in Bucharest, Romania. MVP Angels offers an average investment of 50,000 EUR in exchange for a minor equity stake in the companies, facilitating their journey from product development to market readiness and sales generation.

Mid Europa Partners is a buyout investor specializing in growth markets within Central and Eastern Europe and Turkey. Founded in 1999, the firm has raised and managed approximately €4 billion in funds and has established offices in Budapest, Istanbul, London, and Warsaw. Mid Europa is notable for pioneering private equity in this region and has been independent since 2005, with ownership held entirely by its partners. The team, primarily composed of local professionals, combines regional expertise with best practices from Western Europe in due diligence, deal structuring, and value creation. Mid Europa adopts a pan-regional investment strategy, focusing on acquiring leading companies in domestic growth industries, particularly in the mid-market segment. To date, the firm has completed 30 investments across 18 countries, achieving significant transactions and financings in the region.

Innova Capital Sp. z o.o. is a private equity firm based in Warsaw, Poland, with an additional office in Bucharest, Romania. Established in 1994, the firm specializes in growth capital and buyouts, focusing on mid-market companies in Central and Eastern Europe, particularly in Poland, Slovakia, Croatia, Hungary, Romania, Moldova, the Czech Republic, Bulgaria, Germany, and Austria. Innova Capital does not invest in start-ups or turnaround situations but seeks opportunities in sectors such as construction, manufacturing, energy, technology, media, financial services, consumer goods, telecommunications, healthcare, and outsourcing. The firm typically invests between €5 million and €75 million in companies with enterprise values ranging from €50 million to €184 million, aiming for both majority and minority stakes. Innova Capital's investment horizon spans three to five years, with exits achieved through sales to strategic investors or initial public offerings. Over its history, the firm has invested nearly €500 million in approximately 40 companies across ten countries.

The European Bank for Reconstruction and Development (EBRD) is an investment firm established in 1991 to support the development of market economies and democracies in Central and Eastern Europe and Central Asia. As the largest single investor in the region, the EBRD focuses on private enterprises, investing primarily in minority equity positions and participating in private equity funds that target medium-sized companies seeking expansion. The firm mobilizes significant foreign direct investment and provides project financing for a variety of sectors, including banking, industry, and municipal services. It collaborates with publicly owned companies to facilitate privatization and restructuring efforts. The EBRD operates in countries committed to democratic principles and emphasizes strong corporate governance and environmental respect in all its investments. With a portfolio exceeding €130 billion across over 5,200 projects, the EBRD has also extended its financing initiatives to the Middle East and Africa, leveraging its expertise to foster economic growth and transformation.

Catalyst Romania is a private equity and venture capital fund platform.

Eleven Ventures is a venture capital firm based in Sofia, Bulgaria, specializing in early-stage investments in technology companies across Southeast Europe. Founded in 2012, the firm focuses on sectors such as fintech, health tech, e-commerce, the future of food, software tools, consumer products, sports technology, and mobility. Eleven Ventures invests primarily in pre-seed and seed stages, typically allocating between €0.025 million and €0.5 million per company, with a preference for taking minority stakes ranging from 6% to 30%. The firm conducts a three-month mentor-led acceleration program each quarter, accepting 10-15 teams, and offers office space and back-office services to support startups during this period. Additionally, accepted teams gain access to over €0.1 million in free services from technology providers. Eleven Ventures emphasizes investing in teams of two or more founders and requires portfolio companies to have a legal entity in Bulgaria and be present in Sofia during the program.

3TS Capital Partners is a private equity and venture capital firm headquartered in Helsinki, Finland, founded in 1999. The firm specializes in providing growth capital and buyout funding to small and medium-sized businesses, with a strong emphasis on technology and related sectors, including media, communications, and technology-enabled services. It primarily focuses on investment opportunities in Central and Eastern Europe, particularly in European Union accession countries, but may also consider exceptional cases in Ukraine and Turkey. The firm typically invests between €1 million and €30 million in companies with enterprise values ranging from €1.5 million to €300 million, often seeking significant minority or majority stakes. 3TS aims to enhance the value of its portfolio companies through active partnership and strategic support, while planning to exit investments within three to five years through sales or initial public offerings. The firm has garnered over €300 million from various investors, including prominent financial institutions and corporations.

OTB Ventures is a venture capital firm founded in 2017 and headquartered in Amsterdam, Netherlands. It focuses on investing in technology-driven startups with unique intellectual property, particularly in the Central and Eastern European region. The firm typically provides series A funding to support talented entrepreneurs in scaling their businesses, with an emphasis on sectors such as deep tech, real tech, aerospace, artificial intelligence, automation, fintech, and cybersecurity. In addition, OTB Ventures manages OTB Space Program I, a later-stage venture capital fund based in Warsaw, Poland, which specifically targets investments in the aerospace, defense, and space technology sectors.

Day One Capital is a venture capital firm based in Budapest, Hungary, founded in 2011. It specializes in early-stage investments, focusing on technology start-ups and entrepreneurs primarily from Central Eastern Europe. The firm manages privately financed funds and aims to identify and collaborate with promising teams that are pursuing global opportunities, particularly in the business-to-business software sector. Through its investments, Day One Capital seeks to support innovation and growth within the region's technology landscape.

Earlybird Venture Capital GmbH & Co. KG is a Berlin-based venture capital firm established in 1997, focusing on early-stage and growth investments in technology and healthcare sectors. The firm typically invests in disruptive consumer and enterprise internet businesses, mobility, logistics, and various technology-driven fields such as artificial intelligence, cloud computing, and fintech. Earlybird emphasizes companies located in Europe, particularly in German-speaking countries and Central Eastern Europe, while also considering opportunities in the United States and other regions. With over €1 billion under management, Earlybird aims to provide not only financial backing but also strategic support and access to a robust international network. The firm usually invests between €200,000 and €5 million in initial funding, with the potential for follow-on investments up to €15 million per portfolio company. Known for being one of the most experienced venture investors in Europe, Earlybird has a strong track record, including seven IPOs and 23 trade sales.

Axxess Capital, founded in 1995, is an asset manager specializing in private equity investments in lower mid-market companies, primarily in Romania and Bulgaria. The firm has over 15 years of investment experience in the region, having invested more than €250 million in equity across various sectors. Axxess Capital manages several funds, including the Romanian-American Enterprise Fund and the Balkan Accession Fund, focusing on deals typically ranging from €5 million to €15 million with investment horizons of three to seven years. With a team of over 15 professionals, including investment experts, finance specialists, and legal advisers, Axxess Capital combines local insights with international expertise, ensuring a comprehensive approach to investment opportunities in Southeast Europe.

Highlander Partners, L.P. is an investment firm founded in 2004 by Laurence E. Hirsch, former CEO and Chairman of Centex Corporation, and Michael R. Nicolais, former Co-head of the Dallas Corporate Finance office and Managing Director for Donaldson, Lufkin & Jenrette. Highlander Partners has investments in a wide range of asset categories, with a principal focus on making direct private equity and mezzanine investments in light manufacturing, basic materials, food products, business and industrial services and value-added distribution companies. Highlander Partners is headquartered in Dallas, Texas, USA, and its U.S. office, headed by Jeff L. Hull, makes private equity and mezzanine investments throughout North America. In 2008, the company opened an office in Warsaw, Poland, led by Dawid Walendowski, in order to make private equity investments throughout Central Europe. Highlander Partners has more than $600 million in capital under management, over $500 million of which is allocated to direct private equity and mezzanine investments in the United States and Central Europe.

Inovo Venture Partners is a venture capital firm focused on the CEE region with over €50m in AUM. We are proud to be recognized as the best VC investor in Poland by both the entrepreneurs (Golden Book of Venture Capital in Poland 2018 published by Startup Poland Foundation, and the investment industry (House of the Year - Venture Capital by Polish PE/VC Association. We are a group of investment and entrepreneurial professionals who so far invested and helped over 20 companies (both through the fund and as business angels). Our experience encompasses Rocket Internet, Booksy, Google, McKinsey, Rothschild, Penta, and Coca-Cola. Among our investments from the first fund, you will find Booksy, Brand24 (IPOed), Restaumatic, ECC Games (IPOed), and others. In the second one, we've been fortunate enough to support companies like Allset, Tidio, Infermedica, Spacelift, and Intiaro. We invest in high-growth tech companies at Seed & Series A stages, that are transforming their industries and support the ones who dare to fight to dominate their markets. Our expertise (and investment sweet spot) is in SaaS, marketplaces, ideally working together

GED is an independent private equity group founded in 1996, operating primarily in the Iberian Peninsula and South-Eastern Europe. With a focus on the middle market, GED manages over €300 million across several private equity vehicles, engaging in both private equity and private equity-real estate sectors. The firm seeks to maximize portfolio value through a buy-and-build strategy, targeting medium-sized companies in Romania, Bulgaria, Spain, and Portugal that have the potential to become regional leaders. GED also pursues opportunistic real estate investments in South-Eastern Europe, emphasizing sectors such as communication, transport, energy, and mobility. The firm has established a strong track record in these regions, supported by offices in Madrid, Seville, Bucharest, Sofia, and Oporto. Additionally, GED manages specialized funds that target specific sectors, including healthcare technology, renewable energy, and consumer products, investing in companies with defined financial profiles.

J.P. Morgan is a prominent player in the financial services industry, providing a wide range of solutions to clients in over 100 countries. With a rich history spanning more than 200 years, the firm prioritizes its clients' interests in all its operations. J.P. Morgan Asset Management stands out as a leading asset manager, catering to individuals, advisors, and institutions globally. The firm offers diverse investment strategies across various asset classes, bolstered by its substantial assets under management. Additionally, J.P. Morgan Ventures Energy Corporation specializes in commodity risk management solutions. The firm also manages several funds, including those focused on buyouts in the healthcare sector and opportunistic investments in infrastructure across multiple regions, including North America and Europe.

212 Limited is a venture capital firm based in Luxembourg City, established in 2011. The firm specializes in early to late-stage investments in internet, communication, and technology sectors, with a particular emphasis on software, social gaming, eCommerce, mobile applications, social media, and cloud computing. 212 Limited primarily targets investment opportunities in Turkey, the Central and Eastern Europe (CEE) region, and the Middle East (MENA). The firm typically invests between $0.5 million and $3 million in its portfolio companies, generally preferring to acquire minority stakes. Founded by a team of experienced professionals, 212 aims to cultivate a robust entrepreneurial ecosystem within its focus regions, leveraging their diverse backgrounds in both global corporations and startups to drive strategic growth and operational success.

Enterprise Investors is a prominent private equity firm established in 1990, recognized as one of the oldest and largest in Central and Eastern Europe. The firm specializes in mid-market buyout transactions driven by succession planning and provides expansion financing to high-growth enterprises across various sectors. Over its operational history, Enterprise Investors has raised eight funds, accumulating total capital exceeding EUR 2 billion. To date, these funds have made investments totaling EUR 1.7 billion in 137 companies, demonstrating the firm's commitment to fostering growth and development in the region's business landscape.

Accession Capital Partners, formerly known as Mezzanine Management Finanz- und Unternehmensberatungs GmbH, is a private equity firm specializing in management buyouts, management buyins, leveraged buyouts, recapitalizations, special situations, emerging growth, and growth capital transactions of mature, middle market companies through mezzanine financings. It invests in long term, subordinated mezzanine loans, minority shareholder buyouts, organic expansion, add-on acquisitions, and ownership restructuring. It does not invest in real estate (property exclusively), alcohol, tobacco, and firearms industries and project finance, startups, and high tech companies. The firm seeks to invest in companies in the financial services, healthcare, consumer goods, business services, manufacturing and information technology sectors. It prefers to invest in companies in new European Union member states with a focus on Central and Eastern Europe with a focus on Poland, Slovakia, Romania, Bulgaria, Russia, Hungary, the Czech Republic, Slovenia, Serbia, Croatia, and Balkan States. It also makes selective investments in Ukraine and Turkey. The firm seeks to invest between €5 million ($6.70 million) and €50 million ($63.22 million) in companies with sales value between €10 million ($11.83 million) and €400 million ($473.59 million), enterprise value between €20 million ($23.67 million) and €400 million ($473.59 million), and EBITDA between €2 million ($2.36 million) and €50 million ($67.05 million). Mezzanine Management Finanz- und Unternehmensberatungs GmbH was founded in 2000 and is based in Vienna, Austria with additional offices in Europe.

Societatea de Investitii Financiare Transilvania S.A. (SIF Transilvania) is a closed-end financial investment company, self-managed in a dualist system and included in the category "Other collective investment undertakings (A.O.P.C.), with a diversified investment policy". The Company's share capital worth RON 109,214,333.20 is composed of 1,092,143,332 common shares issued at par value of RON 0.1/share. The shares are listed at the first category of the Bucharest Stock Exchange and have been traded on this market since November 1, 1999 under SIF3 symbol.

bValue Fund is a venture capital firm based in Warsaw, Poland, focused on investing in pre-seed, seed, and early-stage companies across various sectors. Established in 2016, the firm primarily targets enterprises within the CEE region, particularly in Poland and Ukraine. Its investment strategy emphasizes industries undergoing digital transformation, including hi-tech, engineering, fintech, logistics, healthcare, and e-commerce. bValue Fund typically invests between €0.25 million and €1 million in companies that demonstrate potential for growth, preferably those with recurring revenues or a minimum viable product. The firm seeks minority stakes in its portfolio companies and leverages the extensive experience and networks of its management team and investors to help businesses scale and navigate challenges. With a diversified portfolio, bValue Fund aims to support innovative solutions that have the potential to become global leaders.

As one of the largest and most active venture capital fund partners in Central and Eastern Europe our mission is to create new ways of equity funding for innovative small and medium-sized enterprises with high growth potential as well as more traditional businesses for the purpose of establishing a sustainable and competitive SME and enterprise ecosystem both in Hungary and in the region

Global Finance is an independent investment firm based in Athens, Greece, founded in 1991. It specializes in private equity and venture capital, focusing on management buyouts, middle market investments, and growth capital, particularly in underperforming companies. The firm invests in various sectors, including manufacturing, information technology, specialty retail, media, entertainment, healthcare, telecommunications, and services. Global Finance primarily targets companies in Greece and the broader Southeastern European region, including Bulgaria, Romania, Russia, and Serbia. Its investment strategy includes both minority and majority stakes, with typical investments reaching up to €40 million in Greece and €15 million in Eastern Europe. The firm engages in real estate development and offers advisory services, aiming to exit investments within three to six years through various methods such as trade sales or management buybacks.

Draper Esprit is a London-based private equity and venture capital firm established in 2006, with additional offices in Cambridge, Dublin, Helsinki, and Paris. It specializes in investing in technology-oriented businesses at various stages of their lifecycle, from seed and series A rounds to growth capital and late-stage investments. The firm focuses on sectors such as digital technology, financial technology, healthcare, and deep tech, and typically invests between €0.02 million and €10 million in companies based in Europe, Ireland, and the United Kingdom. Draper Esprit prioritizes both minority and majority investments, allocating a significant portion of its corpus to very early-stage companies. The firm is known for backing high-growth, disruptive companies, including notable names like Revolut and Trustpilot. By going public in 2016, Draper Esprit aimed to provide entrepreneurs with more flexible funding options and longer-term support, leveraging its international networks and extensive experience in building successful businesses.

500 Global, formerly known as 500 Startups, is a venture capital firm and incubator based in Mountain View, California, founded in 2010. The firm specializes in seed investments, primarily focusing on early-stage technology and financial services startups across various sectors, including biotech, e-commerce, fintech, and digital healthcare. 500 Global operates a four-month accelerator program, where it typically invests between $0.05 million and $1 million for a 5 to 10 percent equity stake in companies with at least $100,000 in monthly revenue. The firm targets a global market, with particular emphasis on regions such as the Middle East, Asia, Europe, and Latin America. Since its inception, it has invested in over 2,200 startups and supports the growth of innovation ecosystems through educational programs and partnerships. 500 Global also prioritizes investments in companies led by minority founders, reflecting its commitment to diverse entrepreneurial leadership.

Oresa is present in Central and Eastern Europe through private-equity investments since 1995. Our owners and investors are a Swedish entrepreneurial family. They have instilled in Oresa a strong culture of openness, fairness and trust, as well as a great deal of respect for visionary entrepreneurs and managers. Our current core market is Romania, where we hold majority or significant stakes in a broad portfolio of companies. Over the years, we have invested more than EUR 150 million in equity in over 25 companies. EUR 100 million in equity were invested in Romania alone.

The European Investment Fund (EIF) serves as the investment arm of the European Investment Bank, focusing on enhancing access to finance for small and medium-sized enterprises (SMEs) across Europe. Established in 1994, EIF specializes in venture capital and private equity investments, targeting early-stage technology companies and supporting micro, small, and medium enterprises primarily in Bulgaria and Slovakia. It engages in direct investments across various stages, from seed funding to growth capital, while also investing in funds that facilitate these investments. The EIF has developed a substantial portfolio of over €14 billion in assets, fostering a dynamic venture capital ecosystem by catalyzing private investments and providing guarantees and financial engineering services. Its investment strategy encompasses multiple sectors, including information technology, life sciences, and materials, and extends to regional funds across Central Eastern Europe and Turkey. By aligning its efforts with European Union objectives, EIF plays a crucial role in promoting innovation, research, and entrepreneurship within the continent.

Mozaik Investments is a private equity firm specializing in investments in all stages of development and in restructuring and modernization of newly privatized small and mid-sized companies. The firm also focuses on growth investments and do only exceptionally buyouts. It does not invest in early stage startup companies. The firm prefers to invest in companies operating in the media, aerospace, gaming, food and beverage, automotive, logistics and distribution, specialty chemicals, financial services, information technology sectors and products or services in niche segments. It primarily invests in companies based in Austria and Central Eastern Europe (CEE region) and Western Europe with a focus on Czech Republic, Slovakia, Hungary, Croatia, Romania, Serbia, and Slovenia. The firm’s investment size typically ranges between €1 million ($1.17 million) and €5 million ($5.89 million). It also considers investment in firms with an enterprise value between €3 million ($3.53 million) and €30 million ($35.37 million) with all its investments in equity or equity linked securities. It seeks representation on the supervisory board of its portfolio companies. The firm typically holds its investments for a period of three years to seven years. Mozaik Investments was founded in 1994 and is based in Vienna, Austria with additional offices in Bucharest, Romania and Bratislava, Slovakia.

S.A.I. Certinvest S.A. is a privately owned investment manager. The firm provides its services to high net worth individuals. It manages separate client focused equity and fixed income portfolios. The firm also launches and manages equity, fixed income, and balanced mutual funds and hedge funds for its clients. It invests in the public equity, fixed income, and money markets of Romania. The firm was formerly known as SAI Aviva Investors Romania S.A. It was founded in September 1994 and is based in Bucharest, Romania. S.A.I. Certinvest S.A. operates as a subsidiary of Aviva Investors Global Services Limited.

Lead Ventures is a venture capital firm based in Budapest, Hungary, that focuses on financing scale-ups and emerging growth companies in Central and Eastern Europe. Established in 2017, it specializes in investments across various sectors, including mobility, energy and sustainability, as well as B2B services, software, chemicals, IoT, and retail. The firm typically invests between €1 million and €10 million, targeting dynamic teams with strong growth potential and validated market solutions. With €100 million under management, Lead Ventures is backed by MOL, a leading energy company in the region, along with two financial institutions dedicated to supporting the startup ecosystem. The firm aims to empower promising ventures with not only capital but also experience and a robust professional network, fostering innovation to transform industries.

IMMOFINANZ AG is a real estate company headquartered in Vienna, Austria, specializing in the acquisition, development, ownership, rental, and management of properties across eight core European markets, including Austria, Germany, Poland, the Czech Republic, Slovakia, Romania, and Hungary. The company focuses primarily on the retail and office segments, managing its properties under various brands such as myhive for office spaces, STOP SHOP for retail parks, and VIVO! for shopping centers. As of recent assessments, IMMOFINANZ's real estate portfolio is valued at approximately EUR 5.8 billion, encompassing over 380 properties. The firm has been recognized for its stable and risk-optimized approach to real estate management since its founding in 1990.

Societatea de Investitii Financiare Moldova S.A. (FIC MOLDOVA S.A (Plc) is a publicly owned investment manager. The firm engages in management of financial instruments, shares, bonds, derivatives and other instruments devised by NSC regulations. The firm invests in the public equity and fixed income markets of Romania. It typically invests in companies in financial and energy sectors. Societatea de Investitii Financiare Moldova is based in Bacau, Romania.

OTP Bank Nyrt. is a commercial banking institution based in Budapest, Hungary, operating across several countries including Bulgaria, Slovakia, Romania, Croatia, Serbia, Ukraine, and Russia. Established in 1949, the bank offers a comprehensive range of financial services to both private individuals and corporate clients. Its retail banking services include various account packages, bankcards, investment accounts, and private banking options, alongside digital banking solutions. For corporate clients, OTP Bank provides services such as cash management, financing options including loans and guarantees, and treasury services. The bank's loan portfolio encompasses corporate, retail, housing, and municipality loans, while its investment portfolio consists of government securities and bonds. OTP Bank operates a substantial network of branches, totaling 1,734, facilitating access to its diverse financial products and services.

GE Equity, a division of General Electric, focuses on maximizing returns on the company's investment capital through strategic equity investments. Established with a blend of extensive equity investing experience and the operational expertise of GE, the division primarily seeks minority ownership stakes in established companies that exhibit high growth potential. GE Equity emphasizes various investment strategies, including growth capital, buy-out co-investments, secondary direct purchases, recapitalizations, and limited partner investments. The division leverages GE's global reach and industry knowledge to identify and capitalize on promising investment opportunities across diverse sectors.

Patria Bank SA is a financial institution based in Bucharest, Romania, that offers a comprehensive range of banking services to small and medium-sized enterprises, microenterprises, individual entrepreneurs, agribusinesses, and retail clients. The bank provides various financial products, including current and deposit accounts, working capital and investment loans, credit lines, and foreign exchange services. Additionally, it facilitates domestic and international payments, documentary transactions, and the issuance of letters of credit and guarantees. Patria Bank is also involved in rural lending, microfinance, and consumer credit, while offering online and mobile banking services to enhance customer accessibility. As of late 2019, the bank operated a network of 46 branches, 31 ATMs, and numerous POS terminals throughout Romania. Founded in 1993 and formerly known as Nextebank SA, the institution rebranded to Patria Bank in 2016.

Bancroft 2 is a buyout fund managed by Bancroft Private Equity, a firm established in 1989 and based in Vienna. Launched in November 2002, Bancroft 2 expanded its investment scope to include Eastern Europe and Turkey, focusing on mid-market opportunities within sectors such as commercial products, consumer durables, industrials, and technology, media, and telecommunications (TMT). The fund was part of a strategic initiative following the firm's early activities in mergers and acquisitions and the subsequent establishment of its private equity investment approach in the region.

Avallon Sp. z o.o. is a private equity firm based in Lodz, Poland, established in 2001. It specializes in small to mid-sized management buyouts and other investment strategies, focusing on high-growth companies across various sectors, including orthopedics, rehabilitation, fast-moving consumer goods, and manufacturing. The firm typically invests between €4 million and €15 million, with the potential for transaction values to reach €30 million through debt or co-investment. Avallon prefers to acquire a majority stake, aiming for a minimum share of 30% in the companies it invests in. It targets businesses with annual sales between PLN 50 million and PLN 250 million, primarily in Central and Eastern Europe, with a strong emphasis on Poland. The firm does not engage in investments related to industries such as gambling, alcohol, tobacco, or defense and seeks to exit its investments within three to seven years. Through over 100 capital investments, Avallon collaborates closely with management teams, providing them with expertise and resources to drive growth.

Truffle Capital S.A.S., founded in 2001 and based in Paris, France, is an independent venture capital and private equity firm that specializes in financing innovative startups across various sectors, including information technology, life sciences, and energy. The firm focuses on disruptive technologies, particularly in fintech, insurtech, biomedicine, and medical devices. Truffle Capital primarily invests in European companies with a presence in high-growth regions such as North Africa, the Middle East, India, and Brazil. Its investment strategy includes targeting companies with revenues between €0.1 million and €100 million, and it typically invests amounts ranging from €0.25 million to €80 million per company. The firm prefers to take minority or majority stakes and seeks to hold investments for around five years, often taking board seats to support the growth of its portfolio companies. Over its history, Truffle Capital has raised over $1 billion and has supported more than 75 companies, aiming to nurture future market leaders in their respective fields.

Techstars Central LLC, founded in 2006 and based in Boulder, Colorado, operates as a startup accelerator and venture capital firm focused on supporting early-stage technology-oriented companies. It specializes in a mentorship-driven accelerator program, selecting ten startups each summer to participate in a three-month incubation period, offering funding of $120,000 in exchange for equity. Techstars invests primarily in sectors such as fintech, artificial intelligence, blockchain, augmented reality, and IoT, while avoiding investments in medical devices, healthcare technology, and local service-oriented businesses. In addition to its primary accelerator, Techstars has various specialized programs, including those focused on music, retail, mobility, and social impact, with global reach extending to regions such as Africa, Asia, and Latin America. The firm prefers taking minority stakes, typically between six and ten percent, without seeking board representation or investor rights. Techstars has built a robust network of entrepreneurs, mentors, and corporate partners to foster innovation and growth within its portfolio, which includes over 1,000 companies with a significant collective market capitalization.

Winno Moscow, previously known as NumaMoscow, is a venture capital firm and accelerator based in Moscow, Russia. It focuses on both direct and indirect investments, emphasizing incubation, seed, startup, middle market, and recapitalization investments. The firm specializes in venture capital fund investments and primarily targets B2B startups across various sectors, including retail technology, fintech, edtech, HR technology, health technology, property technology, augmented and virtual reality, artificial intelligence, and media technology. Winno Moscow operates a six-month accelerator and growth program, offering seed funding of up to €25,000. The firm typically invests amounts ranging from $10,000 to $20,000 and aims to acquire a 10 percent equity stake in its portfolio companies. Its investment focus extends across Russia, the CIS, and Eastern Europe.

Fiedler Capital is a venture capital firm established in 2014, headquartered in Vienna, Austria, with operations in Budapest, Hungary. The firm specializes in investing in seed and early-stage startups, primarily in the healthcare, medical technology, software, mobile applications, and data analytics sectors. Fiedler Capital focuses on companies within the Central and Eastern Europe (CEE) and Baltic regions, leveraging a strong network of local partnerships to support entrepreneurial talent. The firm is dedicated to helping these startups develop world-class business models and achieve sustainable growth in international markets.

ForeVest Capital Partners is an independent alternative investment firm focusing on growth equity investments. It manages private equity investments in other emerging markets as well as emerging market non-performing loan portfolios.