/Investors

Impetus Capital

Growth equity

Sofia · Growth–Late Stage · 9 people tracked

Also known as Impetus

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Investment thesis

Impetus Capital invests in exceptional, founder-led technology companies from Emerging Europe, with a preference for teams with a Bulgarian or Romanian angle. It structures deals across the early growth and pre-IPO stages through IPO and exit windows, positioning itself as a long-term active investor that bridges private and capital markets. The firm emphasizes speed of execution and helping strong teams grow efficiently and expand worldwide, pursuing 'blue ocean' opportunities in high-growth tech.

Invests inSector AgnosticBulgariaEuropeRomaniaSofia

Source: firm website, verified Sep 20, 2026.

Stage
Growth–Late Stage
HQ
Sofia, BG
Leads rounds
Follows
Instruments
Equity
Last 12 months
1 investment
Tracked investments
35

Team · 9 people

from the firm's website
Nikolay Martinov· Partner | Private & Capital Marketsin
Viktor Manev· Partner | Private Marketsin
Gergana Gesheva· Investment Director | Private & Capital Markets
Christina Boseva· Investment Manager | Private & Capital Markets
Elena Daskalova· Investment Manager | Private & Capital Marketsin
Hristo Milchakov· Investment Analyst | Private & Capital Markets
Kostadin Stoilov· Operating Partner | Private Markets
Stefan Juhls· Operating Partner | Private Markets
Walé Adepoju· Operating Partner | Private Markets

What they invest in

from 22 of 35 portfolio companies

AI & Machine Learning ×7SaaS ×7Enterprise Software ×5Consumer ×4Data & Infrastructure ×4Hardware ×4Cloud Computing ×3Cybersecurity ×3

HQs:Bulgaria×12India×1United States×1

Who they back

founder profiles across 11 portfolio companies
82%
solo founders
9 of 11 mapped founding teams
43%
repeat founders
of 14 founders with career history

Founding team size:solo founder×93 founders×14+ founders×1

Where their founders studiedfrom 12 founders with education data

Sofia University St. Kliment Ohridski ×2Technical University of Sofia ×2

What their founders studiedfrom 10 founders with field-of-study data

Computer Science ×8Mathematics & Statistics ×2

Where their founders worked beforefrom 14 founders with career history

Experian ×4Genos Ltd ×2

Investments · 35 tracked

founders shown can be your intro path

By year:2026 · 12018 · 12 dated

A4Everyonea4everyone.comin𝕏

A4E provides data analytics solutions tailored for retail and food service businesses, from small coffee shops to large wholesalers, with affordable and easy-to-use analytical apps built on flexible on-demand frameworks.

AI & Machine LearningData & InfrastructureFintechInsurTechRetail TechSaaS

Hristo Hadjitchonev(Chief Product Officer & Co-founder)inAlexander Efremov(Chief Scientist & Co-founder)inNikolay Nikolov(CTO & Co-founder)inDimitar Atanasov(VP Delivery & Co-founder)inGeorge Kremenliev(Chief Executive Officer)in

Bioditbiodit.bgAug 2018

BioDit develops biometric security solutions offered in wireless and wired configurations.

CybersecurityDeep TechHardware

Co-investorsNEVEQ Capital Partners Ltd.

Biodit webpagebiodit.comin

BioDit offers biometric security solutions, including wireless and wired systems for access control and identity verification.

CybersecurityHardwareIoT

Co-investorsNEVEQ Capital Partners Ltd.

BIOSEEK Semantic search enginebioseek.eu

BioSeek builds an AI platform for drug discovery that unifies fragmented biological sources—literature, patents, clinical, and chemistry data—into a connected knowledge graph, with specialist agents that reason across it from disease biology to safety-screened molecules.

AI & Machine LearningBiotechDeep Tech

Rossen Genchev(Founder)in

BOLERON Digital insurance platformboleron.bgin

Boleron is an online platform for comparing, buying, and managing insurance policies, including car insurance, travel, property, life, health, and business coverage.

ConsumerFintechInsurTechSofia, BG

Desislava Tsvetkova(Founder)in

Browswavebrowswave.comin

Browswave provides software solutions for retailers and manufacturers to manage product portfolios, pricing, and inventory across multiple regions and resellers using market intelligence and data-driven tools.

Data & InfrastructureEnterprise SoftwareRetail TechSaaS

Daye's websiteyourdaye.com𝕏

Daye offers at-home diagnostic tests for hormonal health, vaginal microbiome, and STI screening, alongside consulting services with fertility and gynecological nurses.

Digital HealthFemTechHealthtechWellness & Fitness

Valentina(Founder & CEO)

Co-investorsCrane Venture PartnersJazzya InvestmentsKindred CapitalMyelin VCSalica InvestmentsSimplyhealth Ventures

Delivers.ai Autonomous deliveriesdelivers.aiin

Delivers.AI develops autonomous robotic solutions for last-mile delivery.

AI & Machine LearningCleantechLogistics & Supply ChainRobotics

Co-investorsInveo VenturesJapan Post Capital Co. Ltd.StartersHub

DISCORDIA International transportationdiscordia.euin

Discordia provides international freight transport and logistics services, operating for 30 years.

Logistics & Supply ChainSofia, BG

GLYCANAGE Biological age testingglycanage.comin

GlycanAge offers glycan-based biological age testing and insights to help individuals understand their health and aging rate through advanced diagnostics.

BiotechDeep TechDigital HealthHealthtechLongevity

Gordan Lauc(CSO, Co-Founder)inNikolina Lauc(CEO, Co-Founder)inFilip Lauc(CTO, Co-Founder)in

Co-investorsExceptional VenturesSouth Central VenturesVelocity DigitalVesna AdvisorsLAUNCHub Ventures

HYDROGENERA Green hydrogenhydrogenera.euin

Hydrogenera is a publicly listed entity in Bulgaria that provides investor relations documentation and financial disclosures under Bulgarian regulatory requirements.

CleantechClimate TechEnergyHardwareBulgaria, BG

Intertainment Servicesexcitel.com𝕏

Excitel is an internet service provider offering broadband and streaming services in India, partnering with top ISPs to deliver network coverage across the country.

Cloud ComputingConsumerEnterprise Software

Vivek Rainain

Co-investorsNEVEQ Capital Partners Ltd.

Ivatanasovaivatanasova.com𝕏

Personal consultancy of Ivelina Atanasova-Genchev, a strategic business consultant offering marketing strategy, fractional CMO services, business coaching, digital transformation, sales funnel development, and investment fundraising support through her proprietary BRAVO Method and Business Clinic program.

Future of WorkImpact & Social GoodMarketing Tech

Ivelina Atanasova-Genchev(Business Consultant & Founder)

Jotformjotform.comin𝕏

Jotform provides an online form builder with integrations that automatically forward new form submissions, file uploads, and payment details to communication tools like Microsoft Teams.

AI & Machine LearningEnterprise SoftwareFuture of WorkSaaS

Aytekin Tank(Founder & CEO)in

Co-investorsSeedstarsTwenty Five VenturesWocstar Capital

KIKIMORA.IO Centralized vulnerability managementkikimora.ioin

Kikimora is an AI security agent that connects a security stack (AWS, Azure, Cloudflare, GitHub, Qualys, Tenable, FortiGate and other tools, 18 integrations total) into one conversational interface for triaging findings, drafting fixes, and approving remediation.

AI & Machine LearningCybersecuritySaaSSofia, BG

Krasimir Kotsev(Founder)in

NOESIS Sustainable formulationsnoesiscosmetics.comin

NOESIS LTD manufactures natural and organic cosmetics and develops consumer brands through product development, packaging design, and creative services.

Advanced ManufacturingConsumerDirect to ConsumerWellness & FitnessPlovdiv, BG

Constantin Angelov(General Manager / Founder)in

PROMOTO Supply chain SaaSpromoto.bgin

Promoto.bg is a B2B e-commerce and wholesale trade platform where shops, restaurants (HoReCa), and offices order fast-moving consumer goods online from distributors, importers, and manufacturers.

B2B MarketplacesE-commerceRetail Tech

RE:BENEFITrebenefit.bgin

Re:benefit is a cloud-based SaaS solution that helps HR teams design and manage customized employee benefits packages while monitoring engagement and controlling costs, suitable for both remote and in-office work environments.

Future of WorkHR TechSaaS

Co-investorsVitosha Venture Partners

Shellyshelly.comin𝕏

Cury is a smart scent diffuser device made by Shelly that uses heating-based diffusion technology to release fragrances or repellent liquids with automated scheduling and remote app control.

Cloud ComputingConsumerHardwareIoT

Svetlin Todorov(Founder)in

Taplinetapline.ioin𝕏

Tapline provides funding qualification and reporting services for companies.

Enterprise SoftwareFintechSaaS

Co-investorsBalnord Sp. z o.o.DEPO VenturesAntler

Tiger Technologytiger-technology.comin𝕏Jul 2026

Tiger Technology provides data management software and storage solutions for enterprise customers across media, healthcare, government, manufacturing, retail, and other sectors.

AI & Machine LearningCloud ComputingData & InfrastructureEnterprise SoftwareSofia, BG

Alexander Lefterov(Founder and CTO)inIravan Hira(CEO)in

Co-investors3TS Capital PartnersEndeavor CatalystTDJ

TRANSMETRICS Logistics planning AI platformtransmetrics.aiin𝕏

Transmetrics provides an AI-powered data intelligence platform that integrates fragmented trucking and shipping operational data into unified insights for fleet and forwarding companies.

AI & Machine LearningData & InfrastructureLogistics & Supply ChainSaaS

Co-investorsLAUNCHub Ventures

Other

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

A4EBIOSEEKBOLERONDayeDISCORDIAEXCITELGlycanAgeHYDROGENERANOESISPROMOTOSTORIED DATASTORIED DATA Interactive publishingTRANSMETRICS

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Impetus Capital made?
Impetus Capital has 35 tracked investments, including 1 dated in the last 24 months.
What stage does Impetus Capital invest at?
Impetus Capital invests at the Growth, Late Stage stages.
What sectors does Impetus Capital focus on?
Impetus Capital focuses on Sector Agnostic.
Where is Impetus Capital located?
Impetus Capital is headquartered in Sofia, BG.
Does Impetus Capital lead rounds?
Impetus Capital typically participates in rounds rather than leading them.
Who does Impetus Capital co-invest with?
Impetus Capital most often shares deals with NEVEQ Capital Partners Ltd., Jazzya Investments, Kindred Capital, among 22 tracked co-investors.

From the blog

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temp AI summary

Media · Podcasts & interviews

featuring the team

Viktor Manev, Managing Partner at IMPETUS Capital: Bulgarian Startup Ecosystem

Trending Topics: Balkan Innovation Stories · Viktor Manev

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