Sofia Angels Ventures

What Sofia Angels Ventures does

Sofia Angels Ventures (legal entity: Sofia Angels Ventures KDA, UIC 206288077) is a €13 million co-investment venture capital fund incorporated in 2021 in Sofia, Bulgaria, and managed by MGG Advisers Ltd. The fund was established with the European Investment Fund as its primary financial backer under the InnovFin Equity, Horizon 2020, and European Fund for Strategic Investments (EFSI) frameworks. Its stated investment thesis targets pre-seed and seed stage technology startups, with geographic focus on Bulgaria, Southeast Europe (SEE), and Central and Eastern Europe (CEE), and an ambition to support portfolio companies expanding across Europe and globally. Management comprises former angel investors, entrepreneurs, and executives (Milen Ivanov and Bistra Kirova as Managing Partners, plus Investment Director Stefan Deskov and Partner George Sidjimkov) who have personally invested their own capital into the fund.

The fund's core product is its investment vehicle, which deploys first tickets of €200K-€500K per startup and follow-on capacity up to €1.0M, always pari passu with at least one other private investor (angel, family office, or fund) that provides up to 50% of the required capital. Application is rolling via the fund's website, with deal sourcing supplemented by an investor network of approximately 20+ co-investors including Eleven Ventures, Vitosha Venture Partners, Lead Ventures, Y Combinator, Elaia, Credo Ventures, and Tilia Impact Ventures. Returns are generated exclusively through exits and capital gains on portfolio company equity, targeting typical VC outcomes of 5x-20x within a 6-7 year horizon. The portfolio of 25+ companies spans sectors including HealthTech (Blue Longevity Clinic, Digistain, inHEART), AI/ML (Retorio, Ogre AI, CoLumbo, Ethermind), HR Tech, AgTech/Energy, EHS software, and digital marketplaces, with the first portfolio exit (Digicust GmbH) realized in December 2023.

Revenue mechanics follow the standard VC model: management fees on the €13M committed capital plus carried interest on realizations. Distribution relies on a sales-led/co-investor-driven GTM motion, complemented by content marketing via the fund's website, LinkedIn/Facebook presence, an email newsletter, and active participation in European VC/angel events such as EBAN Congress, AngelFest, Forbes DNA of Success, and HIBA Summit. Sophisticated sales motion combined with no separately priced products or public pricing tiers.

Name

Sofia Angels Ventures

Legal name

Sofia Angels Ventures KDA

Website

https://sofiaventures.eu

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Sofia Angels Ventures is a Bulgarian €13 million co-investment venture capital fund, backed by the European Investment Fund, that invests €200K-€500K at pre-seed and seed stage in technology startups across Bulgaria, SEE, and CEE alongside angels, family offices, and partner VC funds.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

All Other Financial Investment Activities (52399), Other Investment Pools and Funds (5259)

SIC

Finance Services (6199)

akta.pro primary industry

Micro-VC & Angel Funds (FSANAAAI)

Keywords

• Venture capital fund
• Seed stage investing
• Angel co-investment
• Early-stage startups
• Pre-seed funding

Headquarters

HQ city

Sofia

HQ country

Bulgaria

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Investment Returns: Returns generated through exits, IPOs, and capital gains from portfolio company investments. The fund seeks 5x-20x returns typical of VC investments, targeting exits within 6-7 years.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Sofia Angels Ventures is a €13 million co-investment venture capital fund that invests in technology startups at the pre-seed and seed stage. The fund deploys €200k–€500k initial tickets and up to €1 million in follow-on rounds, always co-investing with another private investor (angels, family offices, or other funds) for up to 50% of the required funding. It focuses on startups from Bulgaria, Southeast Europe, and Central & Eastern Europe with global ambitions.

Product overview

Sofia Angels Ventures is a single co-investment venture capital fund. The fund provides early-stage investment capital to technology startups, co-investing alongside angels, family offices, and private funds. Their core offering is the VC fund itself, which deploys capital in rounds typically between €200k-€500k for initial investments with follow-on capacity up to €1M. The fund backs companies across sectors including HealthTech, AI, and Future of Work, with geographic focus on Bulgaria, Southeast Europe (SEE), and Central and Eastern Europe (CEE).

Differentiator

Problem solved

Functional benefit

Products and services

• Sofia Angels Ventures VC Fund A €13 million co-investment venture capital fund that invests in technology startups at pre-seed and seed stage, with first investment tickets of €200k–€500k and follow-on capacity up to €1m, always co-investing with another private investor for up to 50% of the required funding. Target beneficiaries are founders of technology startups in Bulgaria, SEE, and CEE countries.

Quantifiable outcome

• First exit achieved in December 2023 with Digicust GmbH

Named customers9 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor and core.

• Sparkworks AcceleratorminorChannel Partner/ Reseller/ DistributorPre-accelerator partner mentioned for investment criteria
• MGG Advisers Ltd.coreImplementation/ SI/ Consulting PartnerAlternative investment fund manager (AIFM) managing Sofia Angels Ventures fund

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Vitosha Venture Partners: Vitosha Venture Partners is a Bulgarian micro-VC investing at pre-seed and seed stages from Sofia with a similar SEE/CEE focus; SV and Vitosha co-invest directly across Fabrico, Dynamic Pricing AI, Krik.bg, and Swipe.bg, making them structurally equivalent peer funds.
• Gapminder VC: Gapminder VC is a Romanian early-stage fund investing in CEE tech at pre-seed and seed stages; co-invested with SV in Undelucram.ro, operating a very similar stage, ticket-size, and regional profile.
• Lead Ventures: Lead Ventures is a Budapest-based growth-equity and venture capital fund focused on CEE/SEE opportunities; it leads rounds SV participates in (GoodVision) and operates a comparable regional seed-stage mandate.
• Credo Ventures: Credo Ventures is a Czech early-stage VC investing in tech startups across CEE, including rounds alongside SV in GoodVision and others, making it a direct stage-and-region peer.
• Seedblink: Seedblink is a Romanian equity-crowdfunding and syndication platform focused on CEE early-stage tech rounds; co-invested with SV in Undelucram.ro and operates comparable ticket sizes in the region.
• Neo Ventures: Neo Ventures is a Bulgarian early-stage fund operating from Sofia with comparable regional mandate and ticket sizes; part of SV's co-investor network and direct micro-VC counterpart.
• Early Game Ventures: Early Game Ventures is a Romanian early-stage VC focused on seed-stage tech startups in CEE, comparable to SV in stage, ticket size, and regional mandate; they co-invested together in Ogre AI.
• Tilia Impact Ventures: Tilia Impact Ventures is a CEE-focused impact VC investing at seed stage; led the NOLD round in which SV participated and shares a similar venture-stage CEE/SEE mandate.
• Innovation Capital: Innovation Capital is a Bulgarian seed/early-stage VC investing in CEE tech startups; co-invested with SV in Fabrico, FightScout, and Krik.bg, making it a directly comparable micro-VC peer.
• Eleven Ventures: Eleven Ventures is a Bulgaria-based early-stage VC fund that focuses on technology startups across CEE/SEE, making it one of the closest direct comparables to Sofia Angels Ventures; it is also one of SV's most frequent co-investors (BibeCoffee, Blue Longevity Clinic).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Sofia-Angels-Ventures-101278121827274
• LinkedInlinkedin.com/company/sofia-angels-ventures

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments20 records

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

Frequently asked questions about Sofia Angels Ventures