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November 16, 2023

Underline Ventures Secures $20M for Eastern European Founders' Global Ambitions

In a triumphant announcement, Bucharest's very own Underline Ventures declares the culmination of its inaugural fund

Bucharest-based Underline Ventures has unveiled the successful closure of its inaugural fund, amassing an impressive $20 million. This strategic funding is poised to empower early-stage Eastern European founders, propelling them toward the creation of high-growth startups with a global footprint. Underline Ventures envisions supporting over 20 such founders, with an average investment of $500k per endeavor.

The venture capital firm is not just injecting funds but is fostering an encompassing platform designed to address the fundamental operational challenges encountered by startups. Underline Ventures has curated a hands-on support system where founders can access vital expertise.

Ioana Patran, formerly with Microsoft, contributes to recruitment services, while Adriana Spulber, previously associated with How to Web & Pago, oversees communication management. Vlad Ionescu, an ex-UiPath professional, provides growth advisory services, and Mihai Faur from UiPath aids in financial planning and fundraising. Ioana Serban, previously with FintechOS, shapes integrated marketing strategies. Venture strategy and fundraising support are spearheaded by Bogdan Iordache.

Moreover, the portfolio startups benefit from regular advice from founders and operators of well-established companies like UiPath, Telerik, Bitdefender, among others, creating a robust support network.

Underline Ventures has already sealed seven investments, reaching into Romania, Croatia, Serbia, and the broader Eastern European diaspora. The investments span diverse sectors, including big data & AI, cybersecurity, and e-commerce infrastructure.

General Partner of Underline Ventures, Bogdan Iordache, expressed gratitude for partnering with investors who share a profound belief in the potential of Eastern European founders to build significant technology businesses. Despite prevailing challenges, Iordache emphasizes the resilience of founders in navigating the current macro environment.

Iordache outlined the venture's focus on supporting exceptional founders addressing complex problems with global scalability. While remaining agnostic to verticals, Underline Ventures is particularly attentive to enterprise automation, AI, cybersecurity, industrial tech, defense, and climate-related startups.

Josefina Dipaolo
Josefina Dipaolo
Content writer at TechNews180
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