Sifted: 500 Emerging Europe raising a €70m fund for CEE startups

Istanbul-based VC firm 500 Emerging Europe has raised more than €50m for its third fund, which is targeting a close of €70m, to invest in startups from central and eastern Europe (CEE) — from the Baltics to Turkey.

  • 500 Emerging Europe will invest in very early-stage projects, writing cheques of up to €1m for 5-10% ownership stakes.
  • It is also planning to open an office in one of the CEE countries in the upcoming months.
  • The fund will invest in startups from any sector — but Hulli says the best founders in the region tend to follow global trends, such as gaming or machine learning.

Everything that’s happening geopolitically in the region not only breeds more entrepreneurship, but it also pushes entrepreneurs to be even more global and hedge their local risks, – Enis Hulli, the company’s general partner

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