How many investments has Vitosha Venture Partners made?

Vitosha Venture Partners has 66 tracked investments.

What stage does Vitosha Venture Partners invest at?

Vitosha Venture Partners invests at the Pre-Seed, Seed, Series A stages.

What is Vitosha Venture Partners's typical check size?

Vitosha Venture Partners typically writes checks of $115K – $1.1M.

What sectors does Vitosha Venture Partners focus on?

Vitosha Venture Partners focuses on AI & Machine Learning, Defense Tech, E-commerce, Energy, Fintech, Sector Agnostic.

Where is Vitosha Venture Partners located?

Vitosha Venture Partners is headquartered in Bulgaria, BG.

Does Vitosha Venture Partners lead rounds?

Vitosha Venture Partners typically participates in rounds rather than leading them.

Who does Vitosha Venture Partners co-invest with?

Vitosha Venture Partners most often shares deals with Eleven Ventures, Impetus Capital, LAUNCHub Ventures, among 5 tracked co-investors.

Vitosha Venture Partners

Accelerator

Bulgaria · Pre-Seed–Series A · 7 people tracked

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Investment thesis

Vitosha backs resourceful founders building high-growth B2B solutions from Bulgaria with global reach. While industry-agnostic, the firm focuses on next-generation technologies in AI enablement, automation, commerce, defense, energy sustainability, and fintech. Beyond capital, the firm provides strategic and operational support, access to international investors and customers, and leverages local market expertise to position portfolio companies as regional leaders and acquisition targets.

Invests inAI & Machine Learning Defense Tech E-commerce Energy FintechSector AgnosticBulgaria Europe

Source: firm website, verified Aug 6, 2026.

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Stage

Pre-Seed–Series A

Check

$115K – $1.1M

Bulgaria, BG

Leads rounds

Follows

Instruments

Equity

Founded

2020

AUM

$28.3M

Portfolio companies

Team · 7 people

from the firm's website & public directories

Rob Kniaz· Managing Partner

A bridge to London and US VC markets. Kniaz is co-founder and partner at Hoxton Ventures and co-founder of H-Tree Capital, a seed fund focused on machine learning and life sciences. He previously led the AdSense product team at Google and launched AdWords' pay-per-action product, and holds degrees from University of Maryland and Stanford.

Stoyan Nedin· Managing Partner· Sofia

An operator focused on product, hiring, and technical challenges. Nedin founded and operated Nexpur, a studio producing 140+ products for major clients, and co-founded Fanstream, a creator video platform. He was previously a partner at Teres Capital handling early-stage investments and served in renewable energy and international marketing roles.

Marin Iliev· Managing Partner· Sofiain

An investor with two decades of experience across asset classes and CEO experience. Iliev began his career at Scudder and Deutsche Asset Management in Boston, later advised on M&A and capital raises, ran investments at regional firms, and co-founded Teres Ventures in 2012. He brings expertise in governance and fundraising strategy.

Max Gurvits· Managing Partner· Sofiain 𝕏

An international bridge focused on global expansion and Tier-1 fundraising. Gurvits co-founded and exited Regeldit.nl, the Netherlands' first online legal services platform, then ran investment and accelerator operations at Eleven Venture Accelerator. He later directed Cross Border Angels and founded ecosystem programs TRACTION Camp, EIR Europe, and Summit Summit.

Nikola Stojanow· Partner· Bulgariain

Nikola Stojanow is a Partner in New Ventures at Bank Frick and co-founder of æternity, an early Layer 1 blockchain. His work focuses on systems design at the intersection of blockchain, artificial intelligence, capital, and governance, with particular attention to structural and incentive alignment issues in complex systems operating at scale.

Dobri Dobrev· Venture Partner

An operator-focused venture partner with technical expertise. Dobrev was CTO and co-founder of Trackerbot (acquired 2023) and spent five years at Yahoo rising to senior PM on Gemini Ads, overseeing an ad-ranking business with over $2M revenue and 2 billion daily impressions. He holds a CS degree from Columbia.

Antoniy Zahariev· Investment Manager· Sofia, Sofia City, Bulgariain

An investment analyst leading portfolio management and due diligence processes. Zahariev holds degrees in economics and finance from the University of Kent and brings valuation and portfolio mechanics expertise from prior internships at Societe Generale and Raiffeisenbank. He focuses on companies with genuinely disruptive technology.

What they invest in

from 11 of 66 portfolio companies

SaaS ×4AI & Machine Learning ×3Consumer ×3Direct to Consumer ×3E-commerce ×3AgTech ×2IoT ×2Advanced Manufacturing ×1

HQs:Bulgaria×7United Kingdom×1

Portfolio companies · 66 tracked

alumni founders can tell you what the program is really like

Arctic Fox Supplyarcticfoxsupply.com in✓ verified

Arctic Fox Supply makes outdoor and adventure apparel marketed to active, mobile consumers.

ConsumerDirect to ConsumerE-commerce

Agrovaragrovar.bg in

Agrovar (Агровар) offers software that uses AI and machine learning to analyze climate, soil, and agronomic data and generate cover-crop recommendations for farmers practicing regenerative agriculture.

AgTechAI & Machine LearningClimate Tech

Борис Коев(CEO)Константин Харалампиев(CFO)Антонио Тричков(CTO)

CloudCartcloudcart.com in

Platform for all-round ecommerce marketplace management

Nikolay Iliev(Founder)in Peter Iliev(Founder)in

Co-investorsNovator Bulgaria Elevator Ventures New Vision 3

Econic Oneeconicone.com

Econic One makes smart, connected e-bikes that pair with a smartphone app for locating, locking/unlocking, anti-theft alarms, and sharing.

ConsumerIoTMobility & Transportation

Co-investorsEleven Ventures

Fabricofabrico.io in

Fabrico provides manufacturing operations software that integrates machines, operators, and work orders to monitor factory performance and eliminate inefficiencies.

Advanced ManufacturingAI & Machine LearningIoTSaaS

Co-investorsInnovation Capital

Fmfibfmfib.bg in

Fund Manager of Financial Instruments in Bulgaria (FMFIB, Fund of Funds) is a state-owned joint-stock company that channels European funding to enterprises and the public sector through financial intermediaries and fund managers.

FintechGovTech

FoxCropfoxcrop.com in

FoxCrop operated an agriculture-focused platform and has ceased its Bulgarian operations to refocus on the Brazilian market.

AgTech

Dimitar Dimitrov(Founder)in

Monoyermonoyer.com

Monoyer sells silicone-hydrogel daily disposable contact lenses through a subscription model, letting customers start with a 10-day trial pack before recurring deliveries.

Direct to ConsumerE-commerceHealthtech

RE:BENEFITrebenefit.bg in

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-investorsImpetus Capital

Taylor & Harttaylorandhart.com in 𝕏

Taylor & Hart designs bespoke engagement rings and jewelry for customers seeking personalized, one-of-a-kind pieces.

B2B MarketplacesConsumerDirect to ConsumerE-commerceMarketing TechLondon, GB

Co-investorsLAUNCHub Ventures Techstars Active Partners Seedrs

TokWisetokwise.com inDec 2023

TokWise develops digital transformation solutions that convert energy sector data into actionable business insights, helping energy companies adapt their operations through advanced technology and agile implementation.

AI & Machine LearningData & InfrastructureEnergySaaS

JulienVassilKrasimir

Co-investorsInnovation Capital

VEDAMOvedamo.com in 𝕏

VEDAMO develops a cloud-based virtual learning environment and learning management system for tutors, teaching organizations, and corporations to deliver online and blended education.

Cloud ComputingEdTechSaaSSofia, BG

Co-investorsBrightCap Investment Advisor AD

Other

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

365 CompanyAddit TechAECO SpaceAgriniserAIoT CloudAssen AeroAugmentBlack Sea FilmBrain FoodsBye Bye StutteringChathallaD AerospaceDAcademyDexyconDynamic PricingECEONEirene StudioFight ScoutFINQUPFly The EarthGreen RayHoboInfinity ToyBoxKikimoraLIXRMedraxMM-STUPMultispacemyviNakantaraNative SpacesNomad CabinsOmnioOptoexpertPellet BoxPet buddyPetmallPetStayPleggiPreo NowQuendooRelaxifySaver TechSheetlySN MetalsTeamScheduleTOMTraceTheTasteTwisted TechnologyVGANVoltraxVoxxyWeHugityouBhappy

Portfolio news

latest coverage across their companies

Econic One Powers Ahead: New Funding Fuels the Future of Smart E-Bike Innovation

Econic One · leadsontrees.com · Apr 22, 2025

Frequently asked questions

How many investments has Vitosha Venture Partners made?: Vitosha Venture Partners has 66 tracked investments.
What stage does Vitosha Venture Partners invest at?: Vitosha Venture Partners invests at the Pre-Seed, Seed, Series A stages.
What is Vitosha Venture Partners's typical check size?: Vitosha Venture Partners typically writes checks of $115K – $1.1M.
What sectors does Vitosha Venture Partners focus on?: Vitosha Venture Partners focuses on AI & Machine Learning, Defense Tech, E-commerce, Energy, Fintech, Sector Agnostic.
Where is Vitosha Venture Partners located?: Vitosha Venture Partners is headquartered in Bulgaria, BG.
Does Vitosha Venture Partners lead rounds?: Vitosha Venture Partners typically participates in rounds rather than leading them.
Who does Vitosha Venture Partners co-invest with?: Vitosha Venture Partners most often shares deals with Eleven Ventures, Impetus Capital, LAUNCHub Ventures, among 5 tracked co-investors.

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