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GapMinder, venture capital fund targeting innovative tech startups in Romania enters the local market. With an initial budget of EUR 26 million, GapMinder is the first venture capital fund created following the selection made by the European Investment Fund, a press release informs.
The Fund is mostly financed via Competitiveness Operational Program 2014 – 2020 and co-financed by The European Fund for Regional Development.
In the following years, GapMinder will invest in seed companies up to EUR 1 million and potentially other EUR 3 million per company as follow-up rounds. The Fund will also invest in start-ups at first round of investment or in acceleration phase up to EUR 100,000. GapMinder targets innovative tech start-ups with scale potential for global expansion in verticals such as: IT services and software, cyber security, artificial intelligence, digital transformation, healthcare IT & MedTech, FinTech etc.
”The innovative tech startups ecosystem in Romania has a huge potential and is often overlooked, thus our ambition is to support it by investing in solutions with bright future, in projects and companies scalable at global level. We help them grow by fueling founders with funds and vast experience of mentors enrolled in the program”, stated Dan Mihaescu, Founding Partner.
To benefit from a sustainable pipeline, GapMinder will have also an accelerator component in Bucharest and Cluj, called Techcelerator. In order to facilitate an efficient first round of investment, the selection of the start-ups will begin shortly through the Techcelerator program. Any tech start-up looking for funds can apply for the acceleration program.
GapMinder founding members are active investors in the local start-ups ecosystem, with previous top management positions in tech multinationals. They are as well as active members of the entrepreneurial environment, with background in national and international acceleration programs.
Source: Romania Journal