Innovation Capital

Innovation Capital is a €21.1 million venture capital fund based in Sofia, Bulgaria, focused on supporting early-stage startups. The fund primarily invests in pre-seed and seed stages, offering equity and quasi-equity funding to companies across a variety of sectors. Their investment approach is sector-agnostic, covering industries like AI, e-commerce, healthcare, education, fintech, and cybersecurity. Innovation Capital aims to foster high-potential startups that can introduce disruptive innovations and scalable solutions within the local and international markets. The firm has built a diverse portfolio, with more than 100 companies under its belt, including innovative projects like Ubitrack Sport (machine learning for sports analytics) and Kabinet (telemedicine for mental health). They actively seek projects with strong business models and potential for growth, providing investments that range from €25,000 to €1 million depending on the stage of the startup. Innovation Capital also plays a key role in the regional ecosystem by managing accelerator programs, such as XLRadar, which helps early-stage startups refine their business models and gain market traction. The fund receives support from European Structural and Investment Funds, aiming to stimulate competitiveness and economic growth within Bulgaria​.