LAUNCHub Ventures Closes €65 Million for Fund III

LAUNCHub Ventures has closed the first round of its third fund at €65 million, with a target of more than €75 million overall. The Sofia-based VC is still aiming at the same patch of the map: Central and Eastern Europe, plus South-Eastern Europe, where it has spent years backing very early-stage companies before many others show up.

The fund will keep doing pre-seed and seed deals, with first checks from €300,000 to €3 million. LAUNCHub says it expects to make about 25 investments over five years and to lead or co-lead rounds of up to €7 million. The money behind Fund III comes from a familiar mix of institutional and private backers: international financial institutions, regional entrepreneurs, family offices, and more than ten former portfolio founders who are now investing on the other side of the table.

Stanislav Sirakov, a general partner, frames the new fund as proof that the region’s case has only gotten stronger. LAUNCHub says its two earlier funds backed nearly 100 companies, pulled in more than €100 million under management, and produced more than €700 million in follow-on capital from names such as Founders Fund, Sequoia, Index Ventures, Insight Partners, and Kleiner Perkins. The firm also says about 40% of its pre-seed and seed bets reached Series A, and 75% of portfolio companies raised follow-on rounds.

There is also a clear leadership shift underway. Raya Yunakova and Petar Tsachev have been promoted to general partners, while Todor Breshkov, Sirakov, Rumen Iliev, and Irina Dimitrova stay in fund leadership. Lyuben Belov and Stephane Gantchev remain venture partners and advisory board members. LAUNCHub has also added Vedran Blagus as associate partner, covering Croatia, Slovenia, and the Western Balkans from Zagreb, and Nikoleta Popkostadinova as head of marketing.

The new fund is already active. It has led rounds in Nanogram, an AI-powered social gaming platform, Lenz, which checks factual claims in AI-generated content, and 1Club, which sells AI-native software for sports and activities businesses. The firm’s portfolio has also produced exits including SPLX to Zscaler in 2025, FITE to Triller, and OfficeRND to Blue Star. For a regional fund, the pitch is simple: stay early, stay local, and keep enough cash for the next round.