LAUNCHub Ventures reaches a €65M first close for Fund III, targeting more than €75M

Sofia-based LAUNCHub Ventures has announced the first close of its third fund at €65 million, against a target of more than €75 million. The fund backs pre-seed and seed startups across Central, Eastern and South-Eastern Europe and the region's diaspora.

Fund III plans around 25 investments over a five-year period, with first cheques of €300,000 to €3 million, and will lead or co-lead larger seed rounds. It has already led three rounds: Nanogram, Lenz and 1Club.

Founded in 2012, LAUNCHub has backed close to 100 companies through its first two funds, with more than €100 million under management and 18 exits, including SPLX to Zscaler and OfficeRnD to Blue Star. Portfolio companies include FintechOS, Ampeco and Veridion.

LPs include the European Investment Fund, the EBRD, family offices and more than ten LAUNCHub founders who have exited. The IFC, an investor in Fund II, is considering the second close. Raya Yunakova and Petar Tsachev have been promoted to General Partners.

Fund details in the comments.