Eleven Ventures (Bulgaria)
ActiveVenture Capital
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Financial History
Total Raised
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Valuation
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Leadership Team
Key people at Eleven Ventures (Bulgaria).
Key people at Eleven Ventures (Bulgaria).
Eleven Ventures is a leading early-stage venture capital firm based in Sofia, Bulgaria, focused on supporting technology startups across Southeast Europe since 2012. Its mission is to empower local entrepreneurs—referred to as "local heroes"—to build globally competitive companies by providing not only capital but also strategic guidance, mentorship, and access to a broad network. The firm primarily invests in high-potential sectors such as Fintech, Healthcare, Future of Work, and Sustainable Food, aiming to catalyze innovation and sustainable economic growth in the region. Over the past decade, Eleven Ventures has made over 260 investments, including notable successes like Payhawk (Bulgaria’s first unicorn), SMSbump, and Dronamics, demonstrating strong growth momentum and influence in the Southeast European startup ecosystem[1][2][3][4].
Founded in 2012 by Daniel Tomov and Ivaylo Simov, later joined by Vassil Terziev, Eleven Ventures began as one of the first accelerators in Southeast Europe and evolved into a full-fledged venture capital firm. The founders leveraged their deep understanding of the regional market and entrepreneurial challenges to build a fund that combines financial investment with hands-on operational support. Early traction came from backing startups that scaled internationally, validating their approach and enabling the firm to raise increasingly larger funds, including a €60 million fund in 2022—ten times the size of its previous fund—reflecting growing confidence in the region’s tech scene[2][1].
Eleven Ventures rides the wave of growing digital transformation and innovation in Southeast Europe, a region increasingly recognized for its tech talent and startup potential. The timing is favorable due to rising investor interest, expanding local entrepreneurial ecosystems, and the global demand for innovations in fintech, healthcare, future of work, and sustainability. Eleven’s role extends beyond funding—it acts as a catalyst for regional economic development by helping startups scale globally, thus positioning Southeast Europe as a competitive player in the international tech market[1][2][3].
Looking ahead, Eleven Ventures is poised to deepen its impact by leveraging its expanded fund size and network to support more startups through their growth journeys. Trends such as digital health, remote work technologies, and sustainable food innovation will likely shape its investment focus. As the firm continues to back "local heroes" with global ambitions, its influence in shaping Southeast Europe's tech ecosystem and connecting it to global markets is expected to grow, reinforcing its position as a cornerstone investor in the region[2][4][5].
Key people at Eleven Ventures (Bulgaria).
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Mar 1, 2022 | Releva | $870K Seed | — | Nedelcho Spasov, Stanimir Vassilev |
| May 1, 2021 | ONDO Smart Farming Solutions | $1.0M Seed | — | Hristo Hristov, Nedelcho Spasov, Stanimir Vassilev |
| Apr 1, 2021 | Product Lead | $730K Seed | — | — |
