Nation 1 VC

N1 Ventures is an early-stage venture capital firm, primarily backing founders in artificial intelligence, health technology, and frontier technology. The firm provides capital and strategic guidance from inception, aiming to help nascent ventures achieve global scale. N1 Ventures positions itself as a dedicated partner for pioneering technology.

Marek Moravec founded N1 Ventures in 2019, driven by a vision to support ambitious entrepreneurs at the forefront of technological innovation. With an academic background from the University of Oxford and a strategic base in San Francisco, Moravec brought a global perspective to fostering groundbreaking tech initiatives.

N1 Ventures empowers early-stage founders developing transformative solutions within its specialized domains. Its long-term vision is to cultivate a portfolio of companies that redefine industries through advancements in AI, critical health innovations, and emerging technologies, aiming for a globally impactful ecosystem.

# Nation 1 VC: Early-Stage Venture Capital Focused on European Innovation

High-Level Overview

Nation 1 is a Prague-based venture capital firm that invests in pre-seed and seed-stage companies across Europe, with a particular focus on the Czech Republic market[1][2]. The firm manages approximately $60 million across two dedicated funds, concentrating its efforts on artificial intelligence, healthtech, and frontier technology sectors[3]. Nation 1's investment philosophy centers on backing bold founders from day zero, with typical first investments ranging from $100,000 to $1 million[3]. The firm operates with a distributed team split between Prague and San Francisco, enabling it to support portfolio companies in scaling internationally while maintaining deep roots in the Central European startup ecosystem[3].

Since its founding in 2019, Nation 1 has built a portfolio of 29 investments, positioning itself as a meaningful player in early-stage venture capital for emerging European tech companies[2]. Beyond capital deployment, the firm provides active mentorship and operational support to founders, recognizing that early-stage companies require more than just funding to succeed.

Origin Story

Nation 1 was established in 2019 and is headquartered in Prague, Czech Republic[2]. The firm emerged during a period of growing technological innovation in Central Europe, when the region's startup ecosystem was beginning to attract international attention. The founding team includes managing partners Jaroslav Trojan and Marek Moravec, along with partners Klára Kocarová and Ondrej Homola, who collectively bring experience in identifying and nurturing early-stage ventures[4].

The firm's evolution reflects a deliberate strategic focus on sectors where European founders possess competitive advantages. By concentrating on web3 technology, healthtech, AI, and environmental solutions, Nation 1 positioned itself to capture opportunities in high-growth domains while supporting founders tackling meaningful problems[2].

Core Differentiators

Sector Specialization and Thesis Clarity

Nation 1's focused investment thesis—centered on AI, healthtech, and frontier technology—provides clarity to founders and enables the team to develop deep expertise in these domains. This specialization contrasts with generalist early-stage funds and allows the firm to offer more targeted mentorship and network introductions[2][3].

Dual-Geography Operating Model

The firm's presence in both Prague and San Francisco creates a unique advantage for portfolio companies seeking to scale internationally. This structure enables Nation 1 to support founders in navigating European market dynamics while simultaneously facilitating connections to Silicon Valley networks, capital, and talent[3].

Patient Capital with Active Support

Nation 1's willingness to invest from pre-seed stages demonstrates confidence in founder potential before product-market fit is established. The firm's emphasis on mentorship and operational support—rather than purely financial returns—suggests a partnership approach that resonates with early-stage founders who need guidance as much as capital[3].

Portfolio Momentum

The firm's investment activity demonstrates consistent deal flow and conviction. Recent investments include a $940,000 seed round in Hypherdata (August 2024) and participation in a $10 million Series B for Daytrip (January 2024), showing the firm's ability to support companies through multiple funding stages[2].

Role in the Broader Tech Landscape

Nation 1 operates at a critical inflection point for European venture capital. Central Europe has historically been underrepresented in global venture funding despite producing talented engineers and innovative founders. By establishing a dedicated fund focused on this region, Nation 1 helps address a market inefficiency—capturing exceptional founders before they relocate to Silicon Valley or other established tech hubs.

The firm's focus on AI and healthtech aligns with two of the most significant technological and societal trends of the 2020s. AI adoption is reshaping every industry, and European founders are competing effectively in this space. Healthtech addresses aging populations and healthcare system pressures across Europe, creating both social impact and commercial opportunity. Nation 1's positioning in these sectors places it at the intersection of capital availability and founder talent in high-growth markets.

Additionally, Nation 1 contributes to ecosystem development beyond its direct portfolio. By providing mentorship, operational support, and international connections, the firm elevates the quality of early-stage companies in Central Europe, creating positive externalities for the broader startup community.

Quick Take & Future Outlook

Nation 1 is well-positioned to become a defining early-stage investor for the next generation of European technology leaders. The firm's $60 million in assets under management, while modest compared to mega-funds, is appropriately sized for pre-seed and seed investments and allows for meaningful ownership stakes and board involvement.

Looking ahead, several trends will shape Nation 1's trajectory. First, the continued globalization of venture capital means that exceptional founders in Prague or Budapest will have more funding options, intensifying competition for deal flow. Nation 1's dual-geography model and sector expertise provide defensibility against this trend. Second, the maturation of European AI and healthtech companies will create follow-on investment opportunities, potentially allowing Nation 1 to increase ownership in successful portfolio companies or establish larger follow-on funds. Third, geopolitical factors—including Europe's push for technological sovereignty and reduced dependence on U.S. technology—may create tailwinds for European founders and the investors backing them.

Nation 1's influence will likely expand as its portfolio companies scale and achieve exits. Early success stories like Vrgineers, which raised a $6 million Series A with Nation 1's participation, demonstrate the firm's ability to identify companies capable of raising subsequent rounds and achieving meaningful scale[2]. As more portfolio companies reach growth stages, Nation 1's reputation will strengthen, attracting higher-quality deal flow and enabling the firm to potentially raise larger subsequent funds. The firm's mission—backing bold founders solving meaningful problems in AI, healthtech, and frontier tech—positions it as a key architect of Europe's next wave of technology innovation.