The EBRD is an international financial institution founded in 1990 and headquartered in London that provides project financing and advisory services to support private sector development and transformation in emerging markets. It finances banks, industries, and businesses, supports new ventures and investments in existing companies, and helps privatize and restructure municipal services in publicly owned entities. Through its banking and treasury activities, it offers loans, equity and quasi-equity investments, guarantees, and equity funds for smaller enterprises, along with trade finance and loan syndication. It works with commercial partners to invest in private enterprises across sectors including energy, manufacturing, ICT, infrastructure, agribusiness, and real estate, across Europe, the Middle East and beyond, including a significant footprint in Central and Eastern Europe, the Baltics, and the Caucasus. It provides policy reform dialogue and advisory services to support market modernization, governance, and reform. It has invested over €130 billion in more than 5,000 projects.

Gapminder Venture Partners is a venture capital firm founded in 2017 that invests in early-stage B2B startups across Central and Eastern Europe and the SEE region. The firm backs IT software and services, SaaS, machine learning and artificial intelligence, cybersecurity, fintech, and data-driven and digital transformation initiatives. It typically engages at pre-seed, seed, and Series A rounds, with seed investments ranging from approximately 0.5 to 5 million euros and follow-on investments up to around 12 million euros. The firm emphasizes hands-on support to portfolio companies, assisting with scaling operations, go-to-market, and financial planning to help teams expand internationally and compete in global markets. The team includes former operators and entrepreneurs, leveraging operational experience to add strategic value beyond capital.

Roca X is a privately funded Romanian venture capital firm based in Bucharest that invests in early-stage technology startups, including MVP or prototype phases, with a global reach and a focus on disruptive ideas and social impact.

Early Game Ventures is an early-stage venture capital firm based in Bucharest, Romania. Founded in 2018, it invests in startups across Europe's emerging markets, focusing on innovative sectors such as enterprise technology and cybersecurity. The firm prefers to be the first institutional investor in companies with vested founders addressing big markets.

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.

Sparking Capital is a venture capital firm based in Bucharest, Romania, founded in 2017. It makes pre-seed and seed investments in early-stage startups across sectors, with a preference for consumer internet, marketing technology, supply chain technology, financial technology, property technology, and circular economy technology. The firm remains industry agnostic, backing ventures that offer differentiating value propositions and the potential to scale nationally or internationally.

Gecad Ventures is a Bucharest-based venture capital firm that supports early-stage and expansion-stage hi-tech companies in Central and Eastern Europe with potential for international growth. The firm focuses on cybersecurity, fintech, AI/ML, AR/VR, IoT, transportation, agritech, healthcare, software and e-commerce, among other technology sectors. It typically invests equity in the range of €1 million to €7 million and provides strategic guidance and resources to help portfolio companies scale and access international markets. With over two decades of history, Gecad Ventures traces its roots to the Gecad Group and has a track record of notable exits to major global players, underscoring its experience in nurturing companies through growth. The firm emphasizes close collaboration with founding teams to support objectives and accelerate international presence.

Global Finance is an independent investment firm founded in 1991 in Athens, Greece, and has been a pioneer of private equity and venture capital in Southeast Europe. Its operations include private equity fund management, real estate development, and advisory services, with equity investments in mid-market companies across sectors such as manufacturing, information technology, specialty retail, media and entertainment, healthcare, telecommunications, and services. The firm concentrates on opportunities in Greece and neighboring Southeast European markets and maintains a regional footprint with offices and activity in Sofia, Belgrade, Bucharest, and London. Typical investments are up to €40 million in Greece and up to €15 million for Eastern European ventures. Exit options include trade sales, initial public offerings, management buybacks, and sales to other investors. Global Finance aims to create value for investors and dynamic companies by supporting growth and improving operational performance in Southeast Europe.

Fortech Investments is the venture capital arm of Fortech, based in Cluj-Napoca, Romania. Founded in 2021, it provides early-stage funding for startups in sectors including B2B, energy, healthcare, manufacturing, automotive, and fintech, with a focus on Central and Eastern Europe and particularly Romania. The firm supports portfolio companies with capital and strategic guidance, leveraging Fortech's network and industry expertise to help early-stage ventures scale.

Eldorado Gold Corp is a Canadian gold and base metals producer with mining, development, and exploration projects in Europe, Asia, and South America, and operations in Turkey, Canada, and Greece. It maintains a portfolio of assets including Kisladag, Efemcukuru, Skouries, Perama Hill, and Certej, and emphasizes responsible operations, safety and environmental standards, and partnerships with local communities.

Oktogon Ventures is a Budapest-based venture capital firm that backs early-stage technology-driven startups in Central and Eastern Europe. It leverages local knowledge, operational experience, and a broad network to help portfolio companies achieve rapid growth, with a focus on technology-heavy businesses that can scale globally from early stages. The firm emphasizes regional reach across Hungary, Slovakia, Czech Republic, Poland, Croatia, Romania, Slovenia, and Bulgaria, and maintains strong connections to US and Western European co-investors, mentors, and talent pools. Its portfolio includes Bitrise, Recart, and Enduraid, illustrating emphasis on software and technology-enabled solutions. Oktogon engages with founders through a hands-on approach and aims to support companies with global appeal from day one, enabling scalable, extraordinary growth.

DBH Group provides a broad business infrastructure and professional consulting services in Central and Eastern Europe, offering serviced offices, industrial facilities, and IT infrastructure along with advisory expertise in finance, taxation, and project management. The group supports domestic and regional expansion by delivering outfitted offices and industrial environments, IT systems, local tax and administrative expertise, and secretarial services, enabling clients to focus on core activities.

Underline Ventures is a venture capital firm based in Bucharest, Romania, founded in 2022. It backs startups across seed, early, and growth stages with a focus on Eastern Europe. The firm seeks opportunities in information technology, big data, e-commerce, the Internet of Things, software as a service, and telecommunications, media, and technology sectors. It partners with Eastern European founders pursuing global ambitions, providing capital at early stages (with typical checks around €500,000) and supporting portfolio companies as they scale. By combining seed-stage funding with hands-on support and access to a network of co-investors, Underline Ventures aims to help high-growth startups accelerate product development, market entry, and expansion across the region and beyond.

Neogen Capital is a venture capital firm based in Targu Mures, Romania, established in 2000. It focuses on marketplaces and related sectors including internet retail, e-commerce, fintech, human resources, and mobility, with a Europe-wide remit. It makes minority investments across seed, early, and later stages and provides hands-on operational support to help marketplace businesses scale.

Trind Ventures is a Tallinn-based venture capital firm that backs early-stage European startups. It invests across Northern and Central Europe in marketplaces, consumer solutions, and PLG-driven B2B products, as well as software and information and communications technology, supporting both business-to-business and business-to-consumer models.

HPS Investment Partners is a global investment firm focused on non-investment grade credit across the capital structure. Founded in 2007 and headquartered in New York, it operates a worldwide network of offices. The firm originated as a unit of Highbridge Capital Management, a subsidiary of J.P. Morgan Asset Management, and was acquired by its principals in 2016 after Highbridge’s hedge fund strategies remained with J.P. Morgan. HPS manages a variety of strategies, including syndicated leveraged loans, high-yield bonds, privately negotiated senior secured debt, mezzanine, asset-based lending, and private equity, and serves clients across industries such as insurance, healthcare, media, retail, logistics, and marine.

Established in 2020, the European Innovation Council supports innovative startups and researchers with promising ideas, focusing on early-stage companies with positive environmental, social, or governance impacts. It co-invests alongside private investors.

LAUNCHub Ventures is a Bulgaria-based venture capital firm founded in 2012 and based in Sofia that invests in seed- and early-stage technology startups in Southeastern and Central Europe. The firm typically makes initial investments from €300,000 to €2 million and can provide follow-on support up to around €4 million across portfolio rounds. It backs startups across AI/ML, SaaS, future of work, proptech, crypto and blockchain, devtools, marketplaces, health tech, fintech, hardware, robotics, and related enterprise and consumer sectors, prioritizing scalable businesses with initial traction. LAUNCHub Ventures focuses on founders from SEE and CEE regions, partnering with them beyond capital and offering programs such as a Series A academy to help achieve milestones and raise subsequent rounds. The approach aims to strengthen the regional startup ecosystem and attract attention from global investors.

HBM Healthcare Investments is a Switzerland-based investment firm founded in 2001 and based in Zug. It concentrates on the healthcare sector, spanning human medicine, biotechnology, medical technology and diagnostics. The firm maintains a diversified portfolio that includes private companies, public companies, funds, cash and other assets, reflecting exposure across different stages and sectors within healthcare.

Emma Capital is a private equity and holding firm founded in 2012, with offices in Prague, Nicosia and London. It focuses on investments in the retail and consumer-oriented sectors, including opportunities in Asia, Greece and the republics of the former Soviet Union, and tends to take an active management role in portfolio companies.

MOST Ventures is a Kazakhstan-based venture investment firm focused on technology startups across Europe, Asia and the Central Eurasian region. Based in Almaty, the company operates within the MOST Ecosystem, a mature network that provides financial and non-financial support to technology ventures, including those involved in fintech and digital financial services. The ecosystem comprises UMAY Angels Club, MOST Business Incubator, MOST Hub and MOST Media. MOST Ventures backs early-stage companies, typically in seed and Series A rounds, aiming to help founders build globally scalable products and businesses across software, hardware, IT services and related technology sectors.

3TS Capital Partners is a Helsinki-based European technology-focused private equity and venture capital firm that provides expansion capital and buyout funding to small and mid-sized technology-enabled businesses across Europe. It targets growth sectors such as technology and internet, media and communications, and technology-enabled services, and augments its investments with sector partners and co-investors to deliver value beyond financing. The firm typically seeks minority or majority stakes and often takes seats on the board; it pursues exits within three to five years through trade sales or IPOs. It maintains active industry involvement through international associations and networks and operates with offices in the United States and across Europe.

Eleven Ventures is a Sofia, Bulgaria-based venture capital firm and accelerator that backs early-stage technology startups in Southeast Europe. Founded in 2012, it has supported hundreds of ventures and focuses on fintech, healthcare, the future of work, and the future of food, with broad exposure to software-enabled sectors. The firm runs accelerator programs that provide capital, office space, back-office services, and mentorship, along with subsequent funding options to help portfolio companies scale in Bulgaria and neighboring markets.

New Vision 3 is a Sofia, Bulgaria-based venture capital firm focused on seed and early-stage technology startups. It targets sectors such as fintech, blockchain, artificial intelligence, IoT and big data, 3D printing, robotics, nanotech and biotech, cybersecurity, cleantech, as well as augmented and virtual reality, and also considers shared economy platforms. The firm pursues investments in Bulgaria and internationally, including Europe and the United States, backing early rounds in tech-driven ventures across healthcare, agtech, cryptocurrency and other AI-enabled areas.

MFG Invest is an angel investment group based in Sofia, Bulgaria, founded by a consortium of angel investors focused on financing venture capital. The firm aims to support early-stage startups across various sectors, providing the necessary capital and resources to foster growth and innovation. By targeting emerging businesses, MFG Invest seeks to play a pivotal role in the entrepreneurial ecosystem, helping to drive economic development in the region.

Gradient Ventures is Google's AI-focused venture capital firm, founded in 2017 and based in Palo Alto, California. The firm backs seed- and early-stage startups in artificial intelligence and machine learning, providing capital and access to Google’s technical leadership and ecosystem. It supports founders in developing and scaling AI-enabled products by sharing best practices in recruiting, design, marketing, and engineering, and by connecting portfolio companies with Google resources to navigate early product challenges and drive practical AI applications across industries.

Credo Ventures is a venture capital firm focused on early-stage investments in Central and Eastern Europe. It seeks high-growth, internationally ambitious companies and supports their expansion, including to the United States, across information technology, software, Internet, mobile, B2B enterprise software, cybersecurity and healthcare sectors. Typically a minority investor, the firm backs seed through Series B rounds, with investment sizes usually ranging from €0.5 million to €10 million, and is based in Prague, Czech Republic, with an office in San Francisco to facilitate global engagement.

VEF is a Stockholm-based venture capital firm founded in 2015 that focuses on fintech companies in emerging markets. It invests in early and growth-stage startups, takes minority stakes, and provides active governance through board representation in portfolio companies. The firm aims to support innovative financial technology businesses across the emerging world, helping drive digital financial inclusion and efficiency as markets evolve.

Impetus Capital is a venture capital firm and growth equity investor based in Sofia, Bulgaria. Founded in 2015, it provides capital across seed to growth stages to European companies operating in B2B, B2C, healthcare and technology sectors.

Orange is a leading digital operator that provides mobile and internet services in Europe and Africa, with a global corporate telecommunications arm that serves large enterprises, local authorities and SMEs worldwide. Through Orange Business Services, the group offers integrated voice and data, IT and cloud solutions, data center and network management, security, and unified communications designed to manage international operations. It supports complex projects across industries with end-to-end services, including IP voice, WAN-LAN design, application management and managed services. The company also maintains an innovation network and startup ecosystem through initiatives like Orange Fabs. Founded in 1991 and headquartered in Paris, France, Orange operates in around 30 countries and serves hundreds of millions of customers globally.

Hiventures is a venture capital investment firm headquartered in Budapest, Hungary. It backs startups across multiple sectors and supports high-growth small and medium-sized enterprises, with the aim of fostering a sustainable and competitive SME and enterprise ecosystem in Hungary and the broader Central and Eastern Europe region. The firm is described as one of the largest and most active venture capital partners in Central and Eastern Europe.

Turn/River Capital is a San Francisco–based growth equity firm focused on software, web, and SaaS companies. The firm targets capital-efficient, data-driven technology businesses and pairs growth capital with an extensive operational team to help management scale. Its internal growth-focused agency offers expertise in search marketing, demand generation, and recruiting, and can place Sales Directors, Marketing Directors, and Customer Success Directors as a Service to implement best practices and accelerate go-to-market efforts. Turn/River supports founder-driven or bootstrapped companies, divisions of larger firms, or ventures seeking a new direction, and can facilitate liquidity for founders, spin-outs, or acquisitions through its capital and strategic partnerships. Based in San Francisco, the firm emphasizes helping portfolio companies accelerate growth and achieve scale through funding and hands-on operational support.

CofounderZone is a Warsaw-based venture activity platform and ecosystem that connects startups with business angels and supports co-investment in early-stage and growth companies. It emphasizes people, bringing together startup founders, experienced entrepreneurs who have become angel investors, and other stakeholders to facilitate exchange of experience, networks, and capital. The organization operates in Poland's startup scene as an intermediary that helps founders access resources, mentorship, and funding to scale.

Index Ventures is a venture capital firm founded in 1996 and based in London with additional offices in San Francisco and Geneva, supporting entrepreneurs shaping technology-driven global businesses by investing across early and growth stages in software, TMT, and related sectors including artificial intelligence, data, fintech, healthcare, and mobility, and partnering with founders to scale companies globally.

Balderton Capital is a London-based venture capital firm that focuses on early-stage investments in European technology companies, including information technology, fintech, consumer products, healthcare tech, and related sectors. It supports founders throughout the journey, offering strategic advice, introductions to professional service providers, and opportunities to participate in workshops and a founder community. Balderton primarily targets Series A opportunities and backs companies from seed through growth phases, aiming to help them scale in Europe with a strong network and hands-on support.

360 Capital is a venture capital firm based in Paris and Milan that backs early-stage startups across Europe in deeptech, climate technology and digital sectors. With a 20-year track record, it supports entrepreneurs in developing ambitious, disruptive companies. The firm manages about €400 million in assets and maintains an active portfolio of more than 50 companies.

Brinc is a Hong Kong-based accelerator and early-stage venture firm that runs 15 multidisciplinary accelerator programs across seven countries. It accelerates startups in blockchain, artificial intelligence, connected hardware, robotics, climate tech, clean energy, food technology, and the Internet of Things, aiming to advance sustainable, inclusive innovation. Brinc also supports corporations with distributed innovation strategies, sourcing of new startups and technologies, and venture-building for Web3-enabled businesses. The company collaborates with a diverse network of global corporations, government bodies, universities, fast-growing companies, and investors to run programs and pilot joint initiatives, helping entrepreneurs access mentorship, pilots, and opportunities for subsequent funding through partnerships. Brinc positions itself as a bridge between startups and strategic partners to accelerate product development and market access.

XPV Water Partners is a Toronto-based impact investment firm founded in 2006 that targets investments in water-related companies and utility enterprises. Its team comprises water entrepreneurs, operators, and investment professionals committed to generating environmental and social impact alongside financial returns. The firm operates globally, seeking opportunities across North America, Europe, the Middle East, and Asia, and focuses on growth and expansion within the water sector.

Crane Venture Partners is a London-based venture capital firm founded in 2015 that backs seed and early-stage European technology companies, with a focus on enterprise software, SaaS, machine learning, data and artificial intelligence, including intelligent enterprise and deep-technology businesses. The firm invests across Europe, including pre-Series A rounds, and supports founders in developing and executing effective go-to-market strategies.

VentureFriends is a venture capital firm based in Athens, Greece, specializing in seed and pre-seed investments in tech-enabled startups across Europe. It backs early-stage companies in fintech, proptech, marketplaces, B2B software as a service, e-commerce, IT, and related sectors, with typical checks ranging from a few hundred thousand to a couple of million euros and potential follow-ons. The firm emphasizes a founder-friendly approach, drawing on the experience of ex-entrepreneurs and angel investors to support growth and go-to-market efforts. Investments target companies capable of building durable moats and scalable businesses, primarily in Europe, with activity across the broader EMENA region. The firm is credited with establishing a presence in Athens and focusing on a broad tech-enabled toolkit for portfolio development, networks, and strategic guidance.

Piton Capital is a London-based venture capital and growth equity firm that focuses exclusively on network effects businesses, including marketplaces, exchanges and platforms, as well as data network effects, user-generated content, and SaaS models with potential network effects. The firm is stage- and style-agnostic and invests from seed to late stage, with typical investments ranging from €200,000 to €15 million.

Nauta Capital is a pan-European venture capital firm backing early-stage B2B software companies. Headquartered in London with offices in Barcelona and Munich, it operates across Europe and targets Series A to late seed and Series B investments in technology ventures. The firm focuses on B2B software with strong network effects, vertically oriented enterprise tech for large industries, and deep-tech applications that address enterprise challenges, including sectors such as retail tech, revenue tech, fintech, insurtech, health tech, enterprise software, developer tools, infrastructure, AI and ML, and security and privacy. With more than half a billion in assets under management and a team of around 20 professionals, Nauta is regarded as one of Europe’s larger B2B-focused investors.

P101 is a Milan-based venture capital firm founded in 2013 that concentrates on early-stage investments in digital and technology startups, with a focus on Italian companies. The firm backs entrepreneurs across sectors such as fintech, ad networks, delivery, e-commerce, mobile, social platforms, travel and wellness, providing capital and strategic resources to accelerate growth. Typical investments range from €0.5 million to €5 million. Founded by Andrea Di Camillo, the firm aims to support Italian digital innovation through active, hands-on engagement and industry expertise.

Siparex Group is a Lyon, France based private equity firm founded in 1977 that engages in multi-sector investments across software, commercial products, business services, manufacturing, e-commerce, life sciences, educational technology, robotics and drones, fintech and healthcare services, targeting transactions in France and Western Europe as well as the United States; the firm has grown into an independent, international investor over more than three decades, leveraging its regional roots and diverse sector focus to support growth and operational improvement in portfolio companies.

Bek Ventures is a global venture capital firm based in Luxembourg with offices in London, New York, Luxembourg and Istanbul. It focuses on early-stage technology startups with global ambitions and roots in Emerging Europe. The firm has over $600 million in committed capital across its active funds and a track record that includes multi-billion-dollar successes such as UiPath, Payhawk and Peak. Recognized as a top-performing VC globally since 2010 by HEC-Dow Jones, Bek Ventures emphasizes selective, disciplined investing aimed at helping exceptional founders scale internationally.

Citigroup is a diversified financial services company providing a broad range of financial products and services to consumers, corporations, governments, and institutions worldwide. It operates through two main segments: Global Consumer Banking, which includes retail banking, Citi-branded cards, and consumer finance, and Institutional Clients Group, which covers wholesale banking, investment banking, fixed income and equity sales and trading, foreign exchange, prime brokerage, research, corporate lending, cash management, trade finance, and securities services. The company maintains a global footprint across regions including Asia, Europe, the Middle East, Africa, North and Latin America, and emphasizes sustainability and social responsibility initiatives.

BDC Venture Capital is a major Canadian venture capital investor that engages across the development cycle from seed to expansion, concentrating on technology-based companies with high growth potential that can become market leaders. It supports the growth of Canadian businesses through financing, consulting services, and securitization, with a focus on small and mid-sized enterprises. Since its inception in 1975, it has invested in more than 400 companies spanning life sciences, telecommunications, information technology, and advanced technologies, aiming to foster innovation and scale across the Canadian economy.

Pond Venture Partners is a venture capital firm founded in 1997 that focuses on technology companies across Europe and North America. The company maintains regional teams in Silicon Valley, London, and Israel and provides venture capital investments as well as services that help portfolio companies recruit talent and develop networks with customers, suppliers, and partners.

Lunar Ventures is a Berlin-based, Europe-focused deep-tech venture firm that backs seed-stage startups developing advanced technologies. Founded in 2017, the firm operates with a small team of three deep-tech experts who come from science and business backgrounds. It principally invests in European technology companies across AI and machine learning, blockchain, cybersecurity, big data, analytics, and related fields, including AI infrastructure, privacy-enhancing technologies, cryptography, data infrastructure, and other deep-tech areas. The firm aims to support founders building high-potential startups by providing early capital and strategic guidance to accelerate product development and market entry.

7 Percent Ventures is a London-based venture capital firm that concentrates on early-stage technology startups, including seed and pre-Series A rounds, with occasional involvement in growth financings. The firm backs enterprise and consumer software as a service, as well as internet of things and mobile applications, and seeks opportunities across healthcare, information technology, and B2B/B2C sectors. Typical investments range from tens of thousands to a few hundred thousand pounds, with follow-on funding possible. The firm may seek board observer rights or a board seat as part of its early investments. Established in 2014, it operates from London with an additional office in San Francisco, reflecting a cross-Atlantic approach. Its activity spans the United Kingdom and international markets, including the United States, France, and Germany.