LAUNCHub Ventures has locked in €65 million in pledges for the opening phase of Fund III, working toward a €75 million-plus target. The vehicle will deploy capital into pre-seed and seed-stage ventures spanning Central and Eastern Europe, Southeast Europe and the broader diaspora network.

Fourteen years in, our conviction about this region gets stronger and the results we see further support our thesis. Close to 100 companies, 18 exits, and around 40% of our pre-seed and seed investments reaching Series A. Fund III lets us keep backing founders here at the point where it matters most, and what Fund II has produced tells us the approach works,

Stanislav Sirakov, General Partner at LAUNCHub Ventures

Over its five-year investment horizon, the fund intends to make roughly 25 bets, with initial cheques ranging from €300K to €3M. LAUNCHub will lead or co-lead rounds reaching €7M and maintain dry powder for follow-on rounds at Series A stage.

Bulgaria, Romania, Croatia, Greece, Hungary, Slovenia, Serbia and the wider Western Balkans represent LAUNCHub's primary focus areas, with remaining capital allocated to the broader CEE landscape.

A notable portion of Fund III's capital originates from LAUNCHub's own success stories. More than 10 founders who built and exited companies through LAUNCHub's backing are now committing as limited partners. The investor base additionally comprises the European Investment Fund, the European Bank for Reconstruction and Development, family offices and regional business leaders. The International Finance Corporation, which backed Fund II, is evaluating involvement in the second closing.

Across its two funds, LAUNCHub portfolio companies have accumulated over €700 million in subsequent funding rounds, with roughly 75% securing follow-on investment. Notable exits span SPLX (acquired by Zscaler in 2025), FITE (acquired by Triller) and OfficeRnD (acquired by Blue Star). Portfolio names include Ampeco, FintechOS, Colossyan and Lace, whose later-stage rounds have drawn backing from Founders Fund, Sequoia, Index Ventures and Insight Partners.

The first investments

Fund III has already deployed capital across three initial rounds. Two of these three bets involve founders with prior LAUNCHub-backed exits.

Lenz operates as a verification platform for fact-checking AI-generated content before publication or user distribution. Kosta Jordanov, who previously co-founded Wiser Technology and FITE (a LAUNCHub exit), leads the venture alongside Victoria Dodeva, who served as FITE's VP of Marketing.

1club delivers AI-native software tailored to the sports and activities sector, consolidating memberships, scheduling, payments, marketing, websites and mobile functionality into a unified platform. Miroslav Miroslavov and Martin Kirov, the architects behind OfficeRnD (acquired by Blue Star), founded the company.

Nanogram represents an AI-driven social gaming platform enabling users to convert text prompts into playable games shareable via personalised feeds. Albert Brotherton, Arnaud Poupier, Boris Radulov and Ognian Trayanov established the company, which maintains US headquarters with its core product and engineering operations based in Sofia.

The people behind the fund

Raya Yunakova and Petar Tsachev have ascended to General Partner roles as LAUNCHub launches Fund III. Both bring extensive experience across LAUNCHub's prior funds and have operated or founded technology ventures themselves.

Yunakova arrived at LAUNCHub seven years ago carrying 15 years of technology and investment experience, including tenure on Microsoft's developer experience division and her own entrepreneurial background. Tsachev joined five years prior, transitioning from sales, business development and operations positions within technology firms.

It is a privilege to step into the General Partner role and help lead LAUNCHub into its next chapter. Having been a founder myself, I can appreciate the amount of effort and dedication required to get a business off the ground, and I have immense respect for those deciding to take on the challenge. Eastern European founders have the grit, tenacity, and talent to create category-defining companies, and I couldn't be more excited to support them with those pivotal first checks.

Raya Yunakova

Todor Breshkov, Stanislav Sirakov, Rumen Iliev and Irina Dimitrova, who have anchored the fund since 2012, remain in leadership positions. Lyuben Belov and Stephane Gantchev will persist as venture partners.

The firm has strengthened its senior ranks with two additions. Vedran Blagus joined as Associate Partner in May 2026, bringing 10 years of regional venture capital experience and covering Croatia, Slovenia and the Western Balkans from Zagreb. Nikoleta Popkostadinova came aboard as Head of Marketing in June 2026, contributing 12 years in tech marketing and communications alongside founding experience in social-impact ventures.

Moving to a General Partner position at LAUNCHub is a real trust to carry, and the easiest bet I've ever made. I've watched this region go from producing one breakout company every few years to producing them every year. The talent was always here. The ambition and the proof points have now caught up. I believe the next decade will bring more outliers out of Central and Southeast Europe than the last one did, and I want LAUNCHub to bring this opportunity to a larger set of regional LPs.

Petar Tsachev