Eleven Ventures
Eleven Ventures is a Sofia-based early-stage VC fund founded in 2012 that backs Central and Eastern European technology founders across fintech, AI, healthcare and climate. It combines a core capital vehicle (Eleven Capital) with the structured Eleven Platform and co-management of the Visa Innovation Programme Europe.
- Company typePrivate
- Founded2012
- HeadquartersSofia, Bulgaria
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Eleven Ventures does
Eleven Ventures is a privately held early-stage venture capital fund founded in 2012 in Sofia, Bulgaria, that backs technology founders across Central and Eastern Europe (CEE) with cheques from pre-seed to Series A. The firm invests across four stated verticals — Fintech, Future of Work, Healthcare, and Climate and Sustainability — and operates a three-office footprint in Sofia (headquarters), Athens, and Amsterdam. Its core capital vehicle is the Eleven Capital fund, complemented by the Eleven Founders Fund (launched 2018) and the Eleven Alpha program with a publicly published founder-friendly term sheet.
Beyond capital, Eleven sells a structured beyond-capital offering branded the Eleven Platform — described as the 'Swiss Army Knife' for portfolio founders — which bundles playbooks, mentorship, operational guidance and post-investment resources on ESOP design, fundraising, M&A and AI visibility. A distinctive second revenue and distribution line is the Visa Innovation Programme Europe, which Eleven has co-managed with Endeavor Greece since 2019 and which spans 15 countries with 1,900+ cumulative applications and 110+ collaborations with the Visa ecosystem. The firm monetizes through standard VC mechanics (management fees and carried interest on its fund vehicles) plus undisclosed program-management fees from the Visa collaboration.
The portfolio of roughly a dozen named companies spans fintech (Payhawk, Native Teams, Flow, Moveo.AI), AI (Eilla AI, Bitloops, Outfindo), logistics (Dronamics), FMCG commerce (nFuse), and preventive health (Blue Longevity Clinic). Marquee outcomes include Payhawk's $112M Series B at a $570M valuation (led by Greenoaks, 2021), Dronamics' Beam IPO (€3M, 4.5x oversubscribed), Flow's acquisition by SnelStart (July 2025), and SMSBump's earlier exit to Yotpo. Deal sourcing is community-led (warm introductions, founder referrals, #Oneof11 network) supplemented by the structured Visa application funnel and the annual Founders Weekend gathering. The fund uses AI internally to compress analytical work and accelerate deal screening, and increasingly productizes founder-facing thought leadership (AI Visibility Playbook, M&A in 2026, Global Energy Transition).
Eleven Ventures firmographics
Firmographics- Name
- Eleven Ventures
- Legal name
- Eleven
- Website
- https://11.vc
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Eleven Ventures is a Sofia-based early-stage VC fund founded in 2012 that backs Central and Eastern European technology founders across fintech, AI, healthcare and climate. It combines a core capital vehicle (Eleven Capital) with the structured Eleven Platform and co-management of the Visa Innovation Programme Europe.
- Ownership category
- akta.pro rank
Eleven Ventures industry classification
Industry- Product category
- Venture Capital / Early-Stage Investment
- NAICS
- Portfolio Management and Investment Advice (523940), Other Financial Vehicles (525990)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)
- akta.pro secondary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
Keywords
Where Eleven Ventures is headquartered
LocationHeadquarters
- HQ city
- Sofia
- HQ country
- Bulgaria
- HQ region
- Europe
Offices3 records
Markets served
Eleven Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Venture capital fund returns: Early-stage venture capital fund (operating since 2012) with 'Eleven Capital' arm. Generates revenue via management fees and carried interest from equity investments in portfolio companies; realized exits include SMSBump to Yotpo, Flow to SnelStart, and Eilla-led deals.
- Corporate Innovation Program management: Eleven manages the Visa Innovation Programme Europe (in collaboration with Endeavor Greece) — a fintech startup scouting and acceleration program running across 15 countries since 2019.
Go-to-market motion3 records
Eleven Ventures product offering
Product offeringCore offering
Eleven Ventures is an early-stage venture capital fund that invests pre-seed through Series A in technology companies across Central and Eastern Europe, with stated focus areas in Fintech, Future of Work, Healthcare, and Climate/Sustainability. Beyond capital deployment, the firm operates the Eleven Platform, a structured post-investment support offering providing portfolio founders with playbooks, mentorship, networking, and operational guidance. The firm also co-manages the Visa Innovation Programme Europe alongside Visa and Endeavor Greece, a fintech startup scouting and acceleration program operating across 15 countries.
Product overview
Eleven Ventures is a venture capital firm rather than a SaaS company; its offering combines a single core capital vehicle (Eleven Capital) with a layer of structured founder-support services. The core fund backs early-stage technology companies across Central and Eastern Europe, while the Eleven Platform bundles the beyond-capital toolkit (playbooks, guides, networking, ESG/governance content and events such as Founders Weekend) provided to portfolio founders. Adjacent branded offerings include the Visa Innovation Programme Europe (a fintech accelerator co-run with Visa and Endeavor Greece), the recurring Founders Blend newsletter, the annual Founders Weekend community event, and downloadable content resources such as the AI Visibility Founders Playbook. Together these form the firm's overall product/service stack for the founders it backs.
Differentiator
Problem solved
Functional benefit
Brands
- Eleven Capital: Distinct capital/investment vertical presented as a separate section on the Eleven website (linked via the /eleven-capital/ navigation tab).
- Eleven Platform
- Eleven Alpha
- Visa Innovation Program Europe
Products and services
- Eleven Capital Flagship venture capital fund of Eleven Ventures that deploys equity capital into early-stage technology companies across Central and Eastern Europe, generating returns through management fees and carried interest on portfolio investments.
- Eleven Platform Structured post-investment support offering for Eleven's portfolio founders, providing playbooks, mentorship, operational guidance, fundraising support, ESOP/board governance resources, and AI visibility tooling as a complement to capital deployment.
- Visa Innovation Programme Europe Multi-country fintech startup scouting and acceleration program co-run by Eleven Ventures with Visa and Endeavor Greece, focused on AI, agentic commerce, B2B solutions, money movement, open finance and data, providing selected fintech startups access to the Visa banking and payments ecosystem.
- Eleven Founders Weekend Annual community gathering for Eleven portfolio founders combining on-stage talks from operators and investors, peer-to-peer mentorship sessions, and shared activities that reinforce the firm's #Oneof11 founder community identity.
Quantifiable outcome
- Payhawk raised $112M Series B at $570M valuation, expanding to U.S., Netherlands, Australia and Singapore
- +6 more outcomes
Companies that use Eleven Ventures
Customer profileNamed customers12 records
Ideal customer profiles1 record
Eleven Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Eleven Ventures partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered knowledge/m&a advisory partner, flagship strategic partnership, flagship co-running partner and network ecosystem partner.
- Carlsquareknowledge/m&a advisory partnerCarlsquare Partner Michael Ivanov participates in Eleven's weekly meetings as a guest speaker; co-produced insights on M&A trends in 2026 covering retention, AI value accrual, PE-driven M&A, and sector opportunities.
- Visaflagship strategic partnershipVisa and Eleven co-run the Visa Innovation Programme Europe, a fintech startup program operating across 15 countries since 2019. The program focuses on AI, agentic commerce, B2B solutions, money movement, open finance and data; the 2026 cycle received applications from Cyprus, Greece, and Malta (rising ~50% YoY) and will run until November 2026.
- Endeavor Greeceflagship co-running partnerEleven and Endeavor Greece jointly implement the Visa Innovation Programme Europe. Together they scout, select, and accelerate fintech startups from Cyprus, Greece, and Malta (and the wider 15-country footprint), facilitating collaborations with the Visa ecosystem.
- Sopharmanetwork ecosystem partnerSopharma appears in Eleven's corporate innovation network alongside Visa, providing ecosystem reach for the Visa Innovation Programme Europe.
- Raiffeisennetwork ecosystem partnerRaiffeisen is part of Eleven's corporate innovation network supporting the fintech startup ecosystem.
- Aurubis
Scale indicators7 records
Recent moves7 records
Expansion highlights6 records
Eleven Ventures competitors and assessment
Company assessmentDirect peers
- LAUNCHub Ventures: Bulgaria-based early-stage VC focused on CEE tech startups. Most direct peer — frequently co-invests with Eleven (e.g., nFuse €1.7M seed, April 2026) and operates a similar pre-seed/seed thesis across the same founder pool in Sofia and the wider Balkan/CEE region.
- Neveq (formerly Romanian-American Enterprise Fund): CEE-focused early-stage investor active in Bulgaria and Romania. Comparable regional seed investor targeting local CEE founders; similar check-size profile and sector mix (fintech, SaaS).
- Kaya VC: Prague-based early-stage VC investing across CEE with sector breadth including fintech, SaaS and deep tech. Comparable as a Central European early-stage investor with similar founder-support platform services and regional deal-flow network.
- Credo Ventures: Prague-based early-stage VC focused on CEE founders and tech startups. Comparable regional seed investor with similar portfolio diversity (SaaS, fintech, marketplaces) and check-size profile.
- Flashpoint Ventures: CEE-focused early-stage VC with presence in Bulgaria, Romania, and Ukraine. Comparable seed-to-Series A investor with regional brand and similar portfolio strategy in CEE-born tech companies.
- Day One Capital: Budapest-based early-stage VC focused on CEE tech founders. Comparable regional seed investor with similar fund-size profile and portfolio diversification across fintech, SaaS, and AI categories.
Broad incumbents
- Speedinvest: Vienna-based early-stage VC with deep CEE presence and sector-specialized funds (fintech, deep tech, health). Comparable as a pan-European seed-to-Series A investor; Speedinvest co-invested in Dronamics (via Pioneers Festival prize), directly overlapping with Eleven's portfolio.
- Earlybird Digital East Fund: Berlin-based early-stage VC with a dedicated CEE/Eastern European fund. Operates in the same early-stage CEE tech category with similar fintech and software thesis; broader fund size allows larger checks but comparable regional focus.
- Endeavor Catalyst: Co-running partner of the Visa Innovation Programme Europe with Eleven. While primarily a global high-impact entrepreneurship support organization, its investment arm invests in growth-stage founders and shares the Visa program partnership and CEE deal-flow overlap.
- 3TS Capital Partners: Central European growth capital investor with regional focus. Comparable as a CEE tech investor with broader fund size and later-stage focus; serves as a potential follow-on investor for Eleven's portfolio companies.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Eleven Ventures social profiles
Digital presenceEleven Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
Eleven Ventures leadership team
Management profileNumber of profiles
Profiles7 records
Eleven Ventures subsidiaries and ownership
Company hierarchySubsidiaries1 record
Eleven Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Eleven Ventures M&A and investment
M&A and investmentM&A
Investments326 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Eleven Ventures
What does Eleven Ventures do?
Eleven Ventures is an early-stage venture capital fund that invests pre-seed through Series A in technology companies across Central and Eastern Europe, with stated focus areas in Fintech, Future of Work, Healthcare, and Climate/Sustainability. Beyond capital deployment, the firm operates the Eleven Platform, a structured post-investment support offering providing portfolio founders with playbooks, mentorship, networking, and operational guidance. The firm also co-manages the Visa Innovation Programme Europe alongside Visa and Endeavor Greece, a fintech startup scouting and acceleration program operating across 15 countries.
Is Eleven Ventures a public or private company?
Eleven Ventures is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Eleven Ventures founded?
Eleven Ventures was founded in 2012. It employs 11 to 50 people.
Where is Eleven Ventures based?
Eleven Ventures is headquartered in Sofia, Bulgaria, in the Europe region.
How does Eleven Ventures make money?
Two revenue lines are on record. Venture capital fund returns are the primary driver. The others are corporate Innovation Program management.
Who are Eleven Ventures's main competitors?
Direct peers on record are LAUNCHub Ventures, Neveq (formerly Romanian-American Enterprise Fund), Kaya VC, Credo Ventures, Flashpoint Ventures and Day One Capital. Broad incumbents are Speedinvest, Earlybird Digital East Fund, Endeavor Catalyst and 3TS Capital Partners.
Does Eleven Ventures have an API?
No public API is recorded for Eleven Ventures.
What industry is Eleven Ventures in?
Eleven Ventures's product category is Venture Capital / Early-Stage Investment. Its primary akta.pro industry code is FSANAAAA, Early-Stage Venture Capital (Pre-Seed/Seed), with a secondary code of FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists). Its NAICS code is 523940 and its SIC code is 6282.