• Eleven Ventures introduces a new dedicated program for supporting outstanding early-stage founders from Southeast Europe – Eleven Alpha, with the goal to become the earliest institutional partner for regional entrepreneurs. 
• The three-month program will run separate from their standard investment track and will streamline early-stage startup growth through a structured program and a fixed investment deal of €300K for 10% equity. 
• By participating and completing Eleven Alpha, founders gain entry to the world of Eleven Ventures and receive a tailored game plan for growth, and access to the VC’s company-building expertise, network, and community of peers.

The team of Eleven dubs the terms of the program “Unicorn deal” as they invested on similar terms as the first institutional investor in Bulgarian-born fintech unicorn Payhawk. The Unicorn term sheet is publicly available on the website of the program. 

“We believe that by offering such a deal, which is a bit higher than the standard deal of first institutional investors, we provide founders with peace of mind. Our main goal is to allow them to work on what matters the most during these early stages of development – namely reaching a product-market fit,” Nikola Yanev, Marketing Manager at Eleven Ventures, explains. 

As one of the leading early-stage VCs in Southeast Europe, Eleven Ventures brings more than 10 years of investment experience, having made a total of 150 investments including those in Payhawk, Gtmhub, Dronamics, and SMSBump. The Eleven Alpha is managed by the whole VC team with Ivaylo Simov being the lead partner and advocate of the program. 

“We are looking for builders of the future with bold ideas. Eleven Alpha is bringing together all we have learned during the last 10 years and making it accessible in a structured form to aspiring founders, who are just starting their companies. We want to be their partner in their first steps, which we deem to be also the most important for their ultimate success,” Ivaylo Simov, Managing Partner at Eleven, comments in a press release. 

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