Launchub Ventures has announced the first close of its third investment fund, bringing in €65 million in firm commitments as it pursues an overall target exceeding €75 million. The capital will be deployed across the early-stage startup ecosystem spanning Central and Eastern Europe, Southeast Europe, and the diaspora communities from these regions.
The Bulgarian venture capital firm plans to deploy this capital methodically, targeting approximately 25 investments over a five-year investment period. The fund’s check sizes will range from €300,000 to €3 million for initial investments, positioning Launchub to lead or co-lead funding rounds reaching up to €7 million. Beyond initial commitments, the fund will also reserve capital specifically for follow-on Series A investments in portfolio companies.
Strategic Focus on Early-Stage Innovation
The announcement underscores Launchub’s continued commitment to supporting founders at the earliest stages of development, when capital availability remains constrained across Central and Eastern Europe. By focusing on pre-seed and seed rounds, the firm addresses a persistent gap in the regional venture ecosystem where early-stage companies often struggle to secure initial institutional backing.
The structure of Fund III reflects the firm’s experience scaling companies through subsequent funding rounds. By reserving capital for Series A follow-on investments, Launchub signals confidence in its selection process and commitment to supporting winners through critical growth phases. This approach allows portfolio companies to focus on product-market fit and scaling without founders worrying about dilution or alternative sources for their next rounds.
Expanding Geographic Reach
The fund’s geographic mandate extends beyond traditional Central European markets to encompass Southeast Europe and startup founders from these regions operating elsewhere. This diaspora strategy has become increasingly relevant as talented entrepreneurs from the region establish ventures across Europe, often maintaining connections to their home markets and communities.
The first close comes at a time when European early-stage funding has faced headwinds, with many venture firms becoming more selective in their deployment of capital. Launchub’s ability to secure €65 million in commitments despite challenging market conditions suggests strong institutional confidence in the firm’s track record and thesis around CEE innovation potential.
Broader Ecosystem Implications
The capital raise reflects growing recognition that Central and Eastern Europe represents a substantial pool of technical talent and entrepreneurial ambition capable of building significant companies. As Western European venture capital becomes increasingly concentrated in later-stage rounds, regional specialists like Launchub play a crucial role in nurturing the startup pipeline that feeds European innovation. The fund’s disciplined approach—combining early-stage thesis with Series A follow-on capacity—provides a model for how venture firms can maintain long-term founder relationships while remaining capital-efficient in their deployment strategies across the broader European ecosystem.