Underline Ventures to invest €20M in Eastern European startups
Bogdan Iordache, founder of the long-running Bucharest-based How to Web conference, has launched a new venture fund Underline Ventures. It has already raised half of its targeted €20 million to make investments in Eastern European startups, Tech.eu writes.
- Underline Ventures has been backed by over 20 founders and early-stage operators from companies such as UiPath, Green Horse Games, Telerik, Elrond, MorphL, Smartbill, and CleverTaxi. A host of professional venture fund investors also participated in the funding.
- Having worked with Gecad Ventures, 3TS Capital Partners, and MVP Academy, Bogdan Iordache has over 15 years of experience in the investment world and is heading Underline Ventures.
“We strongly believe founders should own their decision-making and the overall direction of their company — this will help them become better leaders and develop teams with a strong culture. And, if things don’t go as planned, which they often do, we help them through thick and thin,”Underline Ventures states.
- The fund will invest in Eastern European startups at pre-seed, seed, and late seed stages along with other investors. Its average ticket size is €500,000.
- Underline Ventures also promises to help founders in their companys’ journey from seed to serial stages of funding, assisting them in raising further investments and looking for talent.