LAUNCHub Ventures reached a €65 million first close for Fund III as the early-stage venture capital firm works toward a final target of more than €75 million.
The new fund will continue LAUNCHub’s strategy of backing ambitious founders from Central and Southeast Europe, as well as entrepreneurs from the region’s diaspora building companies with international growth potential.
LAUNCHub plans to make initial lead investments ranging from €300,000 to €3 million at the pre-seed and seed stages.
Fund III is expected to make about 25 investments over a five-year period, giving the firm the capacity to build a concentrated portfolio of early-stage technology companies.
LAUNCHub also plans to lead and co-lead financing rounds of up to €7 million and reserve capital for follow-on investments through Series A.
The strategy lets the firm support portfolio companies beyond their initial financing rounds as they reach product-market fit, expand commercially, and attract additional institutional capital.
Since its founding in 2012, LAUNCHub has invested in close to 100 companies.
Its portfolio has generated 18 exits, and about 75% of its pre-seed and seed investments have raised follow-on financing.
About 40% of those companies have reached Series A, showing the firm’s focus on helping early-stage businesses advance to larger institutional rounds.
LAUNCHub is also expanding its senior leadership team as Fund III develops.
Raya Yunakova and Petar Tsachev are becoming General Partners, joining Todor Breshkov, Stanislav Sirakov, Rumen Iliev, and Irina Dimitrova.
Fund III has already begun deploying capital.
LAUNCHub has led investments in Nanogram, Lenz, and 1club, giving the new fund an initial portfolio as the firm continues fundraising toward its final close.
The €65 million first close gives LAUNCHub substantial additional capital to keep backing founders across Central and Southeast Europe while still supporting its strongest companies through later growth stages.
