With the new SCV Technology Fund III, South Central Ventures, the leading regional venture capital fund manager with offices in Ljubljana, Zagreb, Belgrade, and Skopje, is increasing the funds under its management by € 70 million. Both, institutional and well informed private investors invested in the new fund, the largest among them are the European Investment Fund (EIF) and the European Bank for Reconstruction and Development (EBRD)
With the new € 70 million SCV Technology Fund III, South Central Ventures will continue to invest in the Western Balkans early-stage tech start-ups tackling global markets. Tatjana Zabasu Mikuž, South Central Ventures Managing partner, points out this is an evolution of the current South Central Ventures strategy: “South Central Ventures invested in nearly 30 seed and early-stage companies across the region over the past years, and we see an increasing number of companies emerging from this part of the world. With the new fund, we will continue to look for and invest in future technology winners, companies with a strong presence in the Balkans, but international focus and ambition, to help them scale globally. Successful investments from our previous funds reaffirm us in the belief that we chose the right approach and this is further supported by the investors who continue to partner with us in multiple funds.”
With more than 15 years of experience, Tatjana Zabasu Mikuž is an experienced venture capital investor who participated in more than 30 tech investments, among them Cognism and InPlayer coming from North Macedonia. SCV as a team has played a crucial role in developing and forming the tech ecosystem in the region and is one of few fund managers attracting investments in multiple funds from the largest European investors. High ethical and moral standards, as well as high-quality criteria in the investment process, are prerequisites for the long-term cooperation of South Central Ventures with renowned domestic and international investors.
As says Michael Parry, Associate Director, Private Equity and Venture Capital Funds, EBRD: “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.”
South Central Ventures, the leading venture capital fund manager in the region, operates through four offices in Ljubljana, Zagreb, Belgrade and Skopje, with an experienced team of investment managers. The team was recently joined by the experienced entrepreneur Goran Stevanović, who is joining as a partner in Belgrade: “Technology sector has an 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.”
South Central Ventures invests 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.
South Central Ventures has also obtained a voluntary EU-wide marketing passport, which is offered under the European Venture Capital Fund (EuVECA) Regulation to qualified fund managers in the European Union. Among other, in practice this means the fund needs to meet requirements in relation to the investment portfolio and investment techniques, as well as quality criteria in asset management, including environmental, social and governance factors (ESG factors).
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