Bulgaria's Eleven Ventures Invests in Eight Local Startups
Bulgarian venture capital fund Eleven Ventures said on Tuesday that it has invested between 100,000 and 300,000 euro ($113,000-226,000) in each of eight local startup companies through its second investment fund, Eleven 2.0.The eight companies are based in Bulgaria but their products are aimed for the international market, Eleven Ventures said in a statement. Details about the eight startups follow: Earlier this year, Eleven Ventures said that it will invest 6 million euro in innovative tech companies in Southeast Europe through Eleven 2.0. The company plans to invest in about 20 companies with pre-seed ticket sizes starting from 100,000 euro, within the next three years. The fund may also follow with up to 200,000 euro more and secure full fledged seed rounds of over 500,000 euro for its portfolio companies. Eleven is a pre-seed and seed VC based in Sofia, Bulgaria with a focus on entrepreneurs from Southeast Europe. Eleven started in 2012 with a 12 million euro acceleration and seed fund, which was fully invested in over 100 startups to date.