Bulgarian VC fund Eleven Ventures launches a €300k investment program

The Sofia-based VC fund Eleven Ventures has announced the launch of Eleven Alpha, a three-month investment program for early-stage startups from South Eastern Europe. The program comes with a standard deal of €300,000 for 10% equity.

Companies can apply for joining the program until November 19.

• Founded in 2012, by Daniel Tomov, Dilyan Dimitrov, Ivaylo Simov, Jon Bradford, Eleven Ventures is a venture capital firm focused on pre-seed and seed investing in South Eastern Europe. 
• The Eleven Alpha investment program targets teams at a pre-seed stage who could have only an idea and an MVP, or even few paying clients. Fintech, healthtech, future of work, and future of food are among the Eleven Alpha priorities, but it is also open to startups in other verticals.
• As a part of Eleven Alpha program, Eleven Ventures provides participating companies with €300,000 investment taking 10% equity. According to the fund, it will take a maximum two months from the moment of application to closing of the deal. 
• After signing the agreement, the startup will get access to all company building know-how and resources of Eleven. The Eleven Alpha team will provide constant support and work closely together with the founders to develop a tailored game plan helping them reach the next stage.

“We are looking for builders of the future with bold ideas. Eleven Alpha is bringing together all we have learned during the last 10 years and making it accessible in a structured form to aspiring founders, who are just starting their companies. We want to be their partner in their first steps, which we deem to be also the most important for their ultimate success”,

Ivaylo Simov, managing partner and co-founder of Eleven Alpha, commented.