Vitosha Venture Partners invests €1M in five startups

Bulgarian VC and private equity firm Vitosha Venture Partners has invested a total of €1 million in five startups during May 2023. The list of backed startups consists of Nakantara, Native Spaces, ChatHalla, SN Metals, and FinqUP.

  • Founded in 2020, Vitosha Venture Partners is a Sofia-based sector agnostic €26 million fund and entrepreneurship ecosystem development company focused on the emerging Europe region. Since the start of the investment period, there are already 62 startups in its portfolio.
  • The biggest investment in this round is in Native Spaces, an online platform where event organizers can discover and book unique spaces, which received €450,000. SN Metals, a company in the field of electronics and technology, secured €200,000 from the fund.
  • Nakantara, a Bulgarian online platform for buying and selling movable property and cars through an auction, got €100,000. And both ChatHalla, a user behavior analysis company, and FinqUP, a fintech platform, raised €50,000 each.
  • Apart from these companies, Vitosha also supported another four startups through its accelerator program Accelerate by Vitosha. The startups are Nomad Cabins, DiplomID, Petstay, and Twisted Technology.

“The similarity between the nine companies we invested in is when they find inefficiencies in certain processes or market, they successfully optimize them through the use of technology. Their customers will get a better quality product with a better user experience,”

Stoyan Nedin from Vitosha Venture Partners told Forbes Bulgaria.