With the new € 70 million SCV Technology Fund III, South Central Ventures is bound to back more of the regional tech start-ups aiming to succeed globally.
The team operating from four offices in Ljubljana, Zagreb, Belgrade and Skopje, continues to look for excellent teams to join the portfolio companies they previously backed, including Cognism, AdScanner, Agrivi, Workpuls and Celtra, to name just a few.
Transforming the region
There are more and more successful tech companies emerging from the SEE region, and South Central Ventures is set to play its part in accelerating their path to global success. As says Goran Stevanović, who recently joined the team as a Partner: “Technology sector has the opportunity to fundamentally transform our region and for global success we need more local start-ups. With its unique position the South Central Ventures team can become a catalyst for this change, which is why I decided to join. I want to transfer my 20 years of experience in the software industry and my passion for entrepreneurship to this new venture.”
Backed by a group of reputable partners
SCV Technology Fund III is backed by repeat investors including European Investment Fund (EIF), European Bank for Reconstruction and Development (EBRD) and Zavarovalnica Triglav. “Accelerating the digital transition is an important priority for the EBRD and South Central Ventures has been a valuable partner in developing the south-east European innovation ecosystem. We are glad to be part of the new fund and hope we can together build great technology businesses in the region.” says EBRD’s Michael Parry, Associate Director, Private Equity and Venture Capital Funds.
New investors include a few individuals with extensive experience and networks, as well as institutional investors such as Slovenia based BTC, whose CEO Damjan Kralj, explains: “BTC d.d. fulfills its digitization strategy also with integration into the tech companies’ ecosystem in the wider region. Entering the SCV Technology Fund III enables us to become an important part of this environment while at the same time generating return on the invested funds.”
Building a strong portfolio of tech companies
South Central Ventures obtained a voluntary EU-wide marketing passport under the EuVECA Regulation for its new SCV Technology Fund III, confirming it follows high quality standards in the investment process and management. The company will further invest in early stage tech start-ups that have a developed product and need funds for faster development and accelerated growth. The initial investment amounts start at € 500,000 and can reach a total of up to € 5 million per company over their entire funding cycle. SCV’s mantra is to be the first institutional investor in regional start-ups, helping them to attract co-investors in follow on rounds and support their growth towards globally successful tech companies.
SCV is coming to PODIM 2022!
As our Golden Unicorn partner they’ll be on the lookout for the next big startup idea. With their readiness to invest in something new and fresh, PODIM 2022 is your big chance to meet and impress them. Members of the SCV team will be present for Podim Demo Days on the 4th and 5th of May, as well as for the semi-finals and finals of the Podim Pitching Competition on the 16th and 17th of May. You’ll also get a chance to talk to them in the Podim Deal Room.
