Eleven Ventures

Eleven Ventures has established itself as a premier early-stage venture capital firm in the South and Central Eastern European region since beginning its investment activities in 2012. With over a decade of experience navigating the regional startup landscape, the firm has played a pivotal role in transforming the entrepreneurial ecosystem across multiple countries including Bulgaria, Romania, Greece, and neighboring markets. Their extensive portfolio of more than 170 investments demonstrates both their commitment to the region and their ability to identify promising ventures at their earliest stages.

The investment strategy at Eleven Ventures centers around four strategic verticals that represent significant growth opportunities: Fintech, Healthcare, Future of Work & Artificial Intelligence, and Climate & Sustainability solutions. This focused approach allows their team to develop deep domain expertise and provide portfolio companies with specialized knowledge and connections relevant to their specific industries. Their sector-specific investment thesis has enabled them to identify category leaders before they achieve mainstream recognition.

Among Eleven's notable success stories is Payhawk, a fintech unicorn providing expense management solutions that has raised significant funding and expanded internationally. Other standout portfolio companies include Dronamics, pioneering middle-mile cargo drone delivery; SMSBump, an e-commerce marketing platform acquired by Yotpo; and Native Teams, offering solutions for managing distributed workforces. These companies exemplify Eleven's ability to identify scalable business models with potential for international expansion from their regional base.

Beyond capital, Eleven Ventures provides comprehensive support to founders through mentorship, operational guidance, and access to their extensive network of industry partners and follow-on investors. The firm typically enters at pre-seed and seed stages, often as the first institutional investor, with initial tickets ranging from €300K to €1M and reserves for follow-on rounds. Their hands-on approach and deep regional roots have positioned them as a catalyst for the emerging CEE tech ecosystem, helping transform the region into an increasingly recognized source of global tech innovation despite historical challenges in accessing venture funding.