Bulgarian venture capital fund Vitosha Venture Partners, backed by the state-owned Fund of Funds, recently finalised investments totaling 1.5 million euros in five up-and-coming companies. With the investment period for all Fund of Funds' managers concluding at the end of 2023, the search is underway for new managers to oversee a significant €100 million capital pool, where partners from Vitosha will participate with a new fund - Mont Blanc Venture Partners.

The latest additions to Vitosha's portfolio received investments ranging from €140,000 to €600,000 for a 5-20% equity stake. Max Gurvitz, a partner at Vitosha, emphasised, "Our immediate priority is to maximise the potential of the 107 companies within our current portfolio."

Sources: Capital