DYNAX Invest

DYNAX Invest is a angel syndicate from Bulgaria that focuses on supporting selected startups through investments, fundraising the rest of the funding round and advisory. They focus on European startups, and have done especially many investments in the CEE region.

They are industry-agnostic. Having a tech element is a plus, but not mandatory. They have a strong preference for startups with traction, either revenue or otherwise. In expectional cases, for example a deep tech startup, could be interesting also before traction.

Their team has extensive experience with M&A and investment banking, including fundraising.

They can help find a lead investor, but are not leading rounds themselves. They normally don’t seek a board seat.

WiseInvest

WiseInvest is the angel investing office of Nikolai Angelov from Estonia. He is entrepreneur, investing into early-stage startups. He has done more than 300 investments into many fields, including but not limited to proptech, fintech, greentech, medtech, and real estate.

Exerte

Exerte Partners is a family office from Cyprus. They invest generalistically, but have a slight emphasis on food, biotech, energy and SaaS solutions. Their expertise includes scaling and internationalization, as well as optimizing at scale.

They invest typically as a co-investor, but have occasionally lead rounds in cases they know especially well (e.g. food). They don’t generally do convertible notes.

Vestman Energia

Vestman Energia looks to invest into scalable solutions in energy, food and forestry. In energy they are most interested in distributed generation and storage.

They are typically a co-investor. They have also been a lead investor in cases where they had special expertise.

Specialist VC

Specialist VC invests into companies based in, or founders from the Baltics, Finland and Ukraine. They focus on B2B software companies, marketplaces, and software-enabled hardware companies. They have also invested in some B2C and hardware companies through their previous fund, United Angels VC.

The fund’s partners have built companies like Civitta and Fortumo, followed by a decade of angel investing. Their network also includes many advisors, including a scientific advisor in biotech.

For SaaS companies they seek initial traction, e.g. €10k MRR. For deep tech companies this is not as much of a requirement.

They often co-invest, occasionally also lead. They haven’t done any solo investments so far.

They have supported some portfolio companies through participating in their boards, but this has not been a requirement to invest.

They also do secondary investments, where early employees and investors sell some of their shares and receive the money to themselves, as opposed to the company issuing new shares.

Superangel

Superangel is a Nordic-Baltic fund investing in tech startups that are changing the world. They are able to invest around the globe, but focus on their home region.

All the partners are founders, making this a founders-to-founders fund. Their backgrounds are in building and growing tech startups.

They have a long-term support program to help startups get to the next level. It includes expert coaches, team culture development to be ready for scaling, basecamps, helping set up company management structure (which aspects to focus on and follow monthly) and so on.

Crowberry Capital

Crowberry Capital is a Nordic-Baltic early-stage tech investor. Most of their team is based in Iceland and Denmark.

They prefer software. They don’t mind hardware, as long as it’s scalable and has a significant software component. They’re very interested in deep tech software.

Geographically they focus on the Nordics and Baltics. In exceptional cases invest into startups from elsewhere Europe as well, if the company has a strong enough link to the Nordics and Baltics.

They’re not interested in life sciences (mainly due to long development cycles), fast-moving consumer goods or gambling.

Their advisors include David Helgason, founder of Unity Technologies.

 

Highrise Ventures

Highrise Ventures focuses on European startups in proptech, smart buildings and adjacent fields. The team was experience both as investors and founders in ecommerce, IoT, real estate, proptech and construction tech startups. Urban tech, greentech, sustainability, urban mobility and energy sources and energy infrastructure are also interesting for them.

They invest mostly in B2B and B2B2C tech companies, especially deep tech. They’re generally not that interested proptech transaction or asset valuation companies. They are very welcoming for diverse teams as well as first-time founders.

They’re also interested in company building and company replication opportunities, and they have a team that is able to support these endeavours. Around a quarter of their portfolio fits these models.

They’re often either the only investor or a co-investor of a round, with leading a round being rare for them.

Honey Badger Capital

Honey Badger is angel syndicate of three founders of PipeDrive, a successful SaaS company from Estonia. They are especially happy to help SaaS companies and cleantech ones, but are also looking for other founders they could help succeed.

They’re most often a co-investor instead of a lead one.

Angular Ventures

Angular Ventures invests into early-stage B2B companies, especially those aiming to sell to big companies. They invest into European and Israeli founders globally, as well as teams based in Europe or Israel.

They prefer software companies, with hardware being ok as long as the main value is in the software side. Marketplaces are also interesting to them, especially if they value-add services to users. They’re interested in both deep and regular tech as long as they’re sellable to enterprise customers and the capital needs are reasonable.

They have an extensive venture partner program of senior experts in companies like Google to help portfolio companies get their offering and processes right for enterprise customers.

They often lead initial rounds but not the follow-on ones.