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EBRD Venture Capital Investment Programme

Government fundoperating company · company profile

London · Seed–Late Stage · 12 people tracked

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Investment thesis

The programme backs technology companies with development or engineering teams based in Central and Eastern Europe, the Middle East, North Africa, and Central Asia. It invests across early to late stages with ticket sizes ranging from EUR 2m to EUR 25m over the life of an investment. It targets teams ambitious to build world-class market leaders, leveraging the institution's direct technology experience, advisor networks, and balance-sheet strength to support portfolio growth. Since 2012 it has deployed two funds, with a third fund of USD 300m, supporting 43 companies across 36 countries and achieving 14 exits.

Source: firm website, verified Aug 3, 2026.

Stage
Seed–Late Stage
Check
$2.2M – $27M
HQ
London, GB
Instruments
Equity
Founded
2012
AUM
$270M
Tracked investments
42
Unicorns
1
IPOs
1
Acquisitions
1

Team · 12 people

from the firm's website & public directories

What they invest in

from 31 of 42 portfolio companies

AI & Machine Learning ×15SaaS ×11Cybersecurity ×5Enterprise Software ×5Marketplaces ×5Consumer ×4E-commerce ×4Mobility & Transportation ×4

HQs:United States×9Türkiye×6Egypt×3United Arab Emirates×1Hungary×1Lithuania×1

Who they back

founder profiles across 22 portfolio companies
64%
solo founders
14 of 22 mapped founding teams
63%
repeat founders
of 27 founders with career history

Founding team size:solo founder×142 founders×53 founders×14+ founders×2

Where their founders studiedfrom 24 founders with education data

Harvard Business School ×4Wrocław University of Science and Technology ×3Bilkent University ×2Massachusetts Institute of Technology ×2National Technical University "Kharkiv Polytechnic Institute" ×2Stanford University ×2Univerzita Komenského v Bratislave ×2

What their founders studiedfrom 28 founders with field-of-study data

Computer Science ×15Business & Management ×6Engineering ×6Economics ×2Mathematics & Statistics ×2

Where their founders worked beforefrom 27 founders with career history

Google ×2Micro-Epsilon ×2Paymob ×2Promethean ×2World Economic Forum ×2

3 founders hold a PhD · 3 hold an MBA (of 29 with degree data)

Investments · 42 tracked

founders shown can be your intro path

By year:2021 · 12018 · 12016 · 12015 · 14 dated

Martimarti.techinNYSE: MRT

Marti is a Turkish mobility platform offering ride hailing and shared micromobility services (e-mopeds, e-bikes, e-scooters) powered by proprietary software and IoT infrastructure.

B2B MarketplacesIoTMobility & TransportationIstanbul, TR

Kemal Kaya(Chief Executive Officer and Director)inDaniel Freifeld(President, Chief Investment Officer and Director)Michael Tanzer(Chief Financial Officer)Cenk Baspinar(Founder)Oğuz Alper Öktem(Founder)Sena Oktem(Founder)

Co-investorsAdapt VenturesAlleyCorpCOTU VenturesPartners for GrowthPartners for Growth (PFG)Wamda Capital+3 more

Alcatraz AIalcatraz.aiin

Alcatraz develops facial recognition technology for access control systems.

AI & Machine LearningCybersecurityEnterprise SoftwareHardwareMountain View, US

Vince Gaydarzhiev(Founder)inScott Macomber(Director)Raymond Stata(Director)Tina DAgostin(Executive Officer, Director)

Co-investorsBlackPeak CapitalCogito Capital PartnersGolden SeedsHCVCHemi Ventures, LlcRuvento Ventures Pte Ltd.+4 more

Amenliamenli.comin

An online insurance broker operating in Egypt that sells insurance policies to customers significantly faster than traditional insurers.

FintechInsurTechCairo, EG

Shady El Tohfa(Founder)inAdham Nauman(Founder)inOmar Ezz El Din(Founder)

Co-investorsAlter GlobalP1 VenturesY CombinatorANIM FundGlobal Founders Capital

Axoflowaxoflow.comin𝕏

Axoflow provides an autonomous Security Data Layer that collects, classifies, normalizes, reduces, and routes security data for SecOps teams, combining pipeline, storage, and AI in one platform.

AI & Machine LearningCybersecurityData & InfrastructureNew York City, US

Sándor Guba(Founder)in

Co-investors500 Emerging EuropeCredo Venturese2vcEBRD

BasharSoft / Wuzzufbasharsoft.comin

BasharSoft builds employment marketplaces and ecosystems that connect job seekers with career opportunities and employers with talent, primarily serving emerging markets with a focus on Egypt.

B2B MarketplacesEdTechHR TechEgypt, EG

Ameer Sherif(Founder)in

Co-investors500 GlobalPiton Capital LLPVNV GlobalVostok New Ventures

Binalyzebinalyze.aiin𝕏

Binalyze provides a digital forensics and incident response (DFIR) platform for security operations teams to investigate and respond to cybersecurity threats.

CybersecurityEnterprise SoftwareSaaS

Co-investorsCisco InvestmentsMolten VenturesOpenOceanCiti Ventures

Breadfastbreadfast.comin𝕏Series B

Breadfast is a delivery app offering groceries, fresh bakery items, fruits and vegetables, ready-to-eat meals, beauty, pharmacy, and household products, along with financial features like cashback and rewards.

ConsumerE-commerceFoodTechLogistics & Supply ChainMobility & TransportationCairo, EG

Muhammad Habib(Founder)inAbdallah Nofal(Founder)inMostafa Amin(Founder)inAbdullah Nofal(Founder)

Co-investors4DX Ventures500 GlobalOutliers VCPioneerShorooq PartnersVershina Capital+16 more

Causalycausaly.comin

Causaly builds an agentic AI platform for life sciences R&D that retrieves and reasons over scientific evidence, using a scientific knowledge graph and specialized AI agents to support target identification, indication discovery, and regulatory evidence validation.

AI & Machine LearningBiotechHealthtechLondon

Yiannis Kiachopoulos(Founder)inArtur Saudabayev(Founder)Joannis Kiahopoulos(Executive Officer, Director)Yiannis Kiachopoulos Artur Saudabayev(Founder)

BoardMarc Moens(Director)inGeorgios Tziralis(Director)

Co-investorsEmerge EducationICONIQIndex VenturesMarathon Venture CapitalPentech VenturesSNÖ Ventures+5 more

Circeuscirceus.comin

An AI-native holding company that acquires and develops B2B software businesses serving the everyday economy, operating as a permanent investor and operator that applies AI to help portfolio companies compound over time.

AI & Machine LearningEnterprise SoftwareSaaS

Gian Maria Gramondi(Founder)Luca Cartechini(Founder)

Co-investors645 VenturesAvonmore DevelopmentsBlackSheep VenturesCDP Venture CapitalFounders FactoryFounders Factory NY+4 more

Depositphotosdepositphotos.comin𝕏

DepositPhotos is a creative content platform offering over 332 million royalty-free images, videos, and music files, plus AI tools for generating and customizing visuals.

AI & Machine LearningCreator EconomyMarketplacesMedia & EntertainmentNew York, US

Dmitry Sergeevin

Co-investorsAVentures CapitalEBRDTMT Investments

Dgpaysdgpays.com

Dgpays is a Türkiye-based financial technology company that builds AI-native banking and payment software, including card issuing, acquiring, national switch, wallet, core banking, embedded finance and loyalty solutions.

AI & Machine LearningFintechSaaS

Co-investorsEndeavor CatalystEBRDTruffle Capital

Docplannerdocplanner.com

Docplanner operates a healthcare platform connecting patients with doctors and providing software for medical practices to manage appointments, online presence, and reputation.

Digital HealthMarketplacesSaaSAmsterdam, NL

Mariusz Gralewski(Founder)inLucjan Samulowski(Founder)

Co-investorsAspire11AternusBY Venture PartnersD&FG ElementsEndeavor CatalystFJ Labs+8 more

Explain Everythingexplaineverything.comin𝕏Dec 2016

Explain Everything is an online whiteboard for teaching that lets educators create interactive presentations, record tutorial and explanation videos, and run real-time collaborative projects with students.

EdTechSaaSNew York, US

Reshan Richards(Director)inBartosz Gonczarek(President)inPiotr Sliwinski(Director)in

Co-investorsCredo VenturesEBRD

Hazelcasthazelcast.comin𝕏

Hazelcast provides a distributed in-memory data platform offering caching, data integration, in-memory compute, and stream processing for building real-time applications.

AI & Machine LearningCloud ComputingData & InfrastructureEnterprise SoftwarePalo Alto, US

TALIP OZTURK(Executive Officer, Director)inMorgan Dioli(Executive Officer)inAli Kutay(Director)inNadine Teixeira(Executive Officer)inGreg Luck(Executive Officer, Director)inEric Bochner(Chief Executive Officer)in

Co-investorsC5 CapitalEarlybird Venture Capital

Infermedicainfermedica.comin𝕏

Infermedica develops an AI-powered healthcare platform for symptom assessment, triage, and patient intake that integrates into clinical workflows to improve patient access to care.

AI & Machine LearningDigital HealthHealthtechWrocław, PL

Piotr Orzechowski(Founder)inRoberto Sicconi(Founder)in

BoardMichal Rokosz(Director)inMargus Uudam(Director)in

Co-investorsDreamit VenturesHeal CapitalInovo VCKarma VenturesUnfold Ventures

Modanisamodanisa.comin

Modanisa is an online fashion platform selling modest clothing for Muslim women, offering over 650 brands and 70,000 products across 140 countries.

ConsumerDirect to ConsumerE-commerceMarketplacesRetail TechIstanbul, TR

Kerim Ture(Founder)

Co-investorsWamda CapitalAslanoba CapitalEBRDSTC Ventures

Nomagicnomagic.aiin𝕏

Nomagic develops robots and automation systems to assist warehouse operators and managers with repetitive manual tasks.

AI & Machine LearningLogistics & Supply ChainRobotics

Kacper Nowicki(Founder)inMarek Cygan(Founder)Tristan d'Orgeval(Founder)

Co-investorsCapnamicCogito Capital PartnersDN CapitalEvolution VC PartnersFf Venture CapitalHoxton Ventures+6 more

Obiletobilet.comin𝕏

obilet is an online platform for searching, comparing, and purchasing bus tickets from multiple carriers via its website and mobile apps.

MarketplacesMobility & TransportationTravel & Hospitality

Yiğit Gürocak(Founder)inAli Yılmaz(Founder)in

Co-investorsBek VenturesEBRD

Ominimoominimo.com

Dennis Weinbender(Founder)Dusan Komar(Founder)Kristina Kozina(Founder)Laslo Horvath(Founder)

Onedioonedio.comin𝕏

Onedio is a Turkish-language digital media and content platform publishing news, lifestyle, entertainment, and quizzes across topics such as magazine, education, sports, and general culture.

ConsumerMedia & EntertainmentSocial

PandaDocpandadoc.comin𝕏

PandaDoc is a document management platform for creating, managing, tracking, and eSigning business documents such as proposals and agreements, with support for signature and payment workflows.

Enterprise SoftwareSaaSSales Tech

Sergey Barysiuk(Founder)inMikita Mikado(Founder)in

Co-investorsAltaIR CapitalCamber PartnersCross Creek AdvisorsG SquaredHubSpot VenturesIntrepid Growth Partners+13 more

Paymobpaymob.com

Mostafa Menessy(Founder)inAlain El Hajj(Founder)Islam Shawky(Founder)

Co-investorsA15AMK Investment OfficeCapria VenturesHelios Digital VenturesGlobal Ventures

Photoneophotoneo.comin𝕏

Photoneo, now part of Zebra Technologies, develops 3D vision sensors and AI-driven robotic intelligence software for industrial automation tasks such as bin picking and depalletization.

Advanced ManufacturingAI & Machine LearningHardwareRobotics

Jozef Veres(Founder)inJan Zizka(Founder)inTomas Kovacovsky(Founder)inMichal Maly(Founder)inBranislav Pulis(Co-founder & VP of Sales & Marketing)in

Co-investorsAlpha Intelligence CapitalEarlybird Venture CapitalTaiwania CapitalAI CapitalCredo VenturesVenture to Future Fund

PicsArtpicsart.comin𝕏Feb 2021

Picsart offers a command-line tool that generates images, video, and audio from the terminal, providing access to 130+ AI models across the three media types.

AI & Machine LearningCreator EconomyDeveloper ToolsMiami Beach, US

Hovhannes Avoyan(Founder)inMikayel Vardanyan(Founder)inTammy Nam(Executive Officer)inKevin Boon(Executive Officer)inArtavazd Mehrabyan(Founder)inCraig Foster(Executive Officer)in

Co-investors3VCCoreline VenturesDCM VenturesFormula VCG SquaredGraph Ventures+6 more

Pollfishpollfish.cominMar 2018 · $6.3M

Pollfish is an online survey platform that lets businesses run market research and collect first-party data from a large panel of respondents.

Data & InfrastructureMarketing TechSaaSWilmington, US

Ioannis Papadakis(Executive Officer, Director)John Papadakis(Founder)Zissis Bellas(Founder)

Co-investorsOdyssey Venture Funds LPPJ Tech Catalyst

RemotePassremotepass.comin𝕏

RemotePass provides a platform for remote professionals to receive payments in 90+ currencies, manage expenses, generate automated invoices, and access benefits like health insurance and tax management.

FintechFuture of WorkHR TechSaaS

Kamal Reggad(Founder)in

Co-investorsA15COTU VenturesFlyer One VenturesKhwarizmi VenturesOraseya CapitalWamda Capital+6 more

Scalarrscalarr.ioin𝕏

Scalarr builds machine learning-based tools to detect and prevent mobile app install ad fraud, analyzing ad campaign data from click through post-install events.

AdTechAI & Machine LearningCybersecurityIoTSan Francisco, US

Inna Ushakova(President & CEO)inYuriy Yashunin(CPO & Co-Founder)in

Co-investorsOTB VenturesEBRDSpeedinvestTMT Investments

Seetreeseetree.ai

SeeTree provides AI-based crop intelligence that combines satellite, drone, weather, and field data to deliver pre-season yield forecasts, tree-level aerial surveys, and workflow management for large agribusinesses.

AgTechAI & Machine LearningSaaS

Co-investorsAtento CapitalBridges Fund Management Ltd.Hanaco Venture CapitalMindset VentureOrbia VenturesEngie

Shapr3Dshapr3d.comin𝕏

Shapr3D is a 3D CAD software for designing 3D models across Mac, iPad, Windows, and Vision Pro devices.

Advanced ManufacturingConstruction TechHardwareBudapest, HU

István Csanády(Founder)in

Co-investorsColumbia Lake PartnersInreach VenturesLifeline VenturesPoint NineCreandumSpeedinvest

Trafitrafi.cominMay 2015 · $6.5Macquired by Enghouse Systems

Trafi develops a Mobility-as-a-Service (MaaS) platform that provides multi-modal journey planning and ticketing for cities across Europe.

Climate TechGovTechMobility & TransportationSaaS

AlgimantasJurgisMantasMartynas

Co-investorsBaltCapOctopus VenturesPresidio Venturesoctopus investmentsPractica Capital

Trendyoltrendyol.comin𝕏

Trendyol is an online retail marketplace offering fashion products such as platform boots and other footwear to consumers, with a Romanian-language storefront serving that market.

ConsumerE-commerceMarketplacesRetail Tech

Demet Suzan Mutlu(Founder)inDemet Mutlu(Founder)

Co-investorsB CapitalPrinceville CapitalSoftBank Vision FundADQBond Capital ManagementGeneral Atlantic+4 more

Vidoc Securityvidocsecurity.comin𝕏

VIDOC is an AI-powered security platform that identifies, verifies, and fixes vulnerabilities in code repositories by understanding an organization's full system architecture and dependencies.

AI & Machine LearningCybersecurityDeveloper Tools

Klaudia Kloc(Founder)in

Co-investors500 Emerging EuropebValue Venture CapitalPebblebed

Zoovuzoovu.comin𝕏

Zoovu provides an AI-powered search and discovery platform for B2B ecommerce, helping buyers quickly find replacement parts, components, and complex products in large catalogs.

AI & Machine LearningE-commerceRetail TechSaaS

Rob Mullenin

Co-investorsBeringeaColumbia Lake PartnersFTV CapitalTarget Global

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

AllsetCraftGooptiMantaMirosPlumSaltzTargetprocessWebinar

Exits · 2

1 IPOs · 1 acquisitions

MartiNYSE: MRTTrafiacq. by Enghouse Systems

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has EBRD Venture Capital Investment Programme made?
EBRD Venture Capital Investment Programme has 42 tracked investments, 2 of which have exited.
What stage does EBRD Venture Capital Investment Programme invest at?
EBRD Venture Capital Investment Programme invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.
What is EBRD Venture Capital Investment Programme's typical check size?
EBRD Venture Capital Investment Programme typically writes checks of $2.2M – $27M.
What sectors does EBRD Venture Capital Investment Programme focus on?
EBRD Venture Capital Investment Programme focuses on AgTech, Consumer, Data & Infrastructure, Deep Tech, Media & Entertainment, Mobility & Transportation, Retail Tech, SaaS, Sector Agnostic.
Where is EBRD Venture Capital Investment Programme located?
EBRD Venture Capital Investment Programme is headquartered in London, GB.
Who does EBRD Venture Capital Investment Programme co-invest with?
EBRD Venture Capital Investment Programme most often shares deals with Wamda Capital, Cogito Capital Partners, Endeavor Catalyst, among 114 tracked co-investors.

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