Venture to Future Fund

What Venture to Future Fund does

Venture to Future Fund (VFF), legally 'Venture to Future Fund, a.s.', is a Bratislava-headquartered private venture capital fund established in 2019 as a joint initiative of the European Investment Bank (EIB), the Ministry of Finance of the Slovak Republic, and Slovak Investment Holding. It is the first VC fund in the CEE region to secure capital from the EIB. The fund targets innovative, technology-oriented small and medium enterprises in the growth phase — from late-seed to Series A/B — that are founded and operating in Slovakia, or that are EU-based companies with a capital connection to Slovakia. Investments must be backed by an at-least-partially functional product that has been market-tested and has first paying customers or contractual relationships.

VFF's investment model is pari-passu: every deal is co-invested 50:50 with an independent private co-investor, with the fund's minimum ticket at €400K, optimal range of €1.5-2.0M, and maximum exposure up to €7M per company including follow-ons. The investment period runs 2020-2026, with €55M allocated. The fund has a 10-year life aimed at bringing portfolio companies to a successful exit. The current portfolio of 30+ companies spans AI/ML (Nettle AI, Powerful Medical), SaaS and digital adoption (Product Fruits, Vestberry, Netgrif), clean tech and smart cities (Sensoneo, AgeVolt, Spaceti, Twinzo), robotics (Brightpick, Spinbotics), gaming (SuperScale), HR tech (Sloneek, SCAUT), fintech (Patron GO), edtech (Nexineo, KUBO MEDIA), medtech (MultiplexDX), and other verticals. Notable co-investors include Crowdberry, EIC Fund, EIC, and Across Private Investments.

Operationally, VFF is staffed by a seven-person team led by Chairman Matej Říha and Vice Chairman Martin Banský — both veterans of Slovak investment banking (Patria Finance, WOOD& Co., VUB, Tatrabanka). The fund's revenue model is classic venture capital: it earns management fees on committed capital and carries a share of exit proceeds; it does not sell technology products or services. In May 2024, VFF completed a €15.3M capital increase with new LPs National Development Fund I and Slovak Asset Management, expanding total AUM to ~€55M.

Name

Venture to Future Fund

Legal name

Venture to Future Fund, a.s.

Website

https://vff.sk

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Venture to Future Fund is a Bratislava-based venture capital firm, established in 2019 with EIB and Slovak government backing, that invests €1.5-7M in growth-stage innovative tech companies in Slovakia and the wider EU on a 50:50 pari-passu basis with private co-investors, managing approximately €55M across 30+ portfolio companies.

Ownership category

akta.pro rank

Product category

Venture Capital / Growth Equity

NAICS

Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Impact Investment & Development Investment Funds (BPADACAO)

akta.pro secondary industry

SDG / Thematic Sustainable Investment Funds (FSANAJAN)

Keywords

• Venture capital fund
• Growth equity investment
• Late-seed funding
• Startup capital investment
• Pari-passu co-investment

Headquarters

HQ city

Bratislava

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Growth Capital Investment Returns: VFF provides growth capital to innovative companies in exchange for equity stakes. Returns come from successful exits of portfolio companies. Fund life is 10 years during which they aim to bring companies to successful exit.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Venture to Future Fund is a Slovak venture capital fund that provides growth equity capital to innovative small and medium enterprises in late-seed to Series A/B stage. The fund invests EUR 1.5-2M per company (minimum EUR 400K, up to EUR 7M including follow-ons) on a pari-passu basis alongside independent private co-investors at 50:50 terms. It targets companies operating in Slovakia or EU companies with capital connections to Slovakia, with a 10-year fund life aimed at successful exits.

Product overview

Venture to Future Fund (VFF) is a Slovak venture capital fund focused on supporting innovative Slovak and Central European companies with growth potential. The fund targets late-seed to Series A/B stage companies with at least a partially functional product, viable market fit, and initial paying customers. VFF provides investment capital typically ranging from 1.5-2.0 million EUR (with flexibility up to 7 million EUR including follow-on investments), co-investing on a pari-passu basis with independent private co-investors. The fund does not offer technology products or services; rather, it provides growth capital and partnership support to portfolio companies across various technology sectors including AI/ML, SaaS, clean tech, robotics, and digital transformation.

Differentiator

Problem solved

Functional benefit

Products and services

• Growth Equity Investment
• Pari-Passu Co-Investment Program
• Long-Term Exit Support (10-Year Fund Life)

Named customers14 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Crowdberry: Leading alternative investment and equity crowdfunding platform in Slovakia and Czechia; functions as VFF's primary pari-passu co-investor across multiple deals (SEC Technologies, NEXINEO, Patron GO, Nettle AI), making it the most direct operational peer in the Slovak growth capital ecosystem.
• Credo Ventures: Czech early-stage VC fund investing in technology startups across CEE; co-invested alongside VFF in Photoneo ($21M round in 2021) and shares VFF's thesis of backing ambitious CEE founders with global ambitions, making it a direct regional peer.
• Earlybird Digital East Fund: German-origin VC with dedicated CEE/digital east strategy that co-invested with VFF in Photoneo (2021); comparable as an institutional growth-stage fund targeting CEE tech opportunities with similar ticket sizes and stage focus.
• Fil Rouge Capital: Central European VC fund focused on Series A tech investments; co-invested alongside VFF in FaceUp's $5M Series A (May 2026), making it a directly comparable growth-stage peer operating in adjacent CEE geographies with similar sector breadth.
• Reflex Capital: Czech-based early- and growth-stage VC investing in CEE tech; participated as returning investor in FaceUp's Series A with VFF, sharing a comparable CEE tech mandate and similar ticket sizes for growth-stage rounds.
• Tilia Impact Ventures: Czech impact-focused VC fund backing growth-stage companies across CEE; returning co-investor with VFF in FaceUp Series A, comparable as a fellow impact-and-return-oriented institutional VC in the CEE region with public-sourced anchor capital.
• IPM Group: Central European private investment group with growth-stage tech allocation; co-invested with VFF in AgeVolt (2021) and Photoneo (2021), making it a directly comparable growth capital peer in CEE with similar ticket sizes and Slovak portfolio exposure.
• Across Private Investments: Slovak private investment firm that co-invested with VFF in SuperScale rounds (2023 and 2024) and Photoneo (2021); operates as one of the most active Slovak growth capital players and is a direct peer in deal sourcing and execution within Slovakia.
• Purple Ventures: Czech-Slovak VC fund led Sloneek's EUR 3.6M late-seed round (2024) alongside VFF; highly comparable as a regional growth-stage VC backing CEE SaaS and tech companies with similar stage focus and ticket sizes.

Regional players

• JIC Ventures: Czech venture vehicle associated with South Moravian Innovation Centre; participated alongside VFF in FaceUp's Series A and operates as a public-backed regional VC analogous to VFF's Slovak Investment Holding structure, sharing institutional/government anchor dynamics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/venture-to-future-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

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M&A

Investments26 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Venture to Future Fund