Mozaik Investments
Mozaik Investments is a Vienna- and Bucharest-based growth equity fund providing €5-8 million growth capital investments to mature founder-owned SMEs across Central and Eastern Europe, holding minority and majority stakes across entertainment, F&B, fintech, education, aviation, and industrial technology sectors with 3-7 year investment horizons.
- Company typePrivate
- Founded2018
- HeadquartersBucharest, Romania
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Mozaik Investments does
Mozaik Investments is a growth equity investment fund headquartered in Vienna with operations in Bucharest, deploying capital into small and mid-sized companies across Central and Eastern Europe. The fund provides growth capital investments of €5-8 million per transaction with flexible 3-7 year horizons, targeting mature founder-owned businesses with proven unit economics and substantial organic revenue growth (typically >20% annually). Sectors of focus include digital services, education and edtech, specialized retail, consumer brands with regional scale-up potential, and niche industrial/manufacturing businesses with proprietary IP. The investment approach is hands-on with board-level involvement while leaving day-to-day operations to founders.
The portfolio spans seven named companies across diverse sectors: Airborne Technologies (EASA-certified airborne surveillance systems serving 45+ countries), Untold Group (Eastern Europe's largest entertainment company operating the UNTOLD, Neversea, and Massif festivals, with UNTOLD ranked 3rd worldwide by DJ Mag), 5 to go (Romania's largest coffee chain with 600+ locations and 48.7% domestic coffee shop chain market share), Pago (utility bill payment app with 380+ providers and 10M+ bill payments processed), Flavours Group (catering, Stradale restaurants, and Mitzu cafés across 22+ locations), SET (electro-mechanical variable-speed gearboxes for industrial applications with claimed 20-30% energy savings), and Genesis College (Bucharest private school offering International Baccalaureate programs). Fund II of €51 million launched in 2024 with a €25 million anchor commitment from the European Investment Fund under Romania's PNRR Risk Capital Initiative. Mozaik retains a 10% minority stake in 5 to go following the 2024 majority sale to Invenio Partners and Accession Capital Partners. The firm's heritage traces to East Fund Management (EFM), founded in 1994 as a subsidiary of GiroCredit bank, evolving through HKK Partners and HKD Partners before the 2018 renaming to Mozaik Investments. Revenue derives from capital gains on portfolio exits rather than recurring product sales, with the fund's economic value concentrated in unrealized portfolio appreciation and eventual exit realizations.
Mozaik Investments firmographics
Firmographics- Name
- Mozaik Investments
- Legal name
- Mozaik Investments
- Website
- https://mozaikinvestments.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Mozaik Investments is a Vienna- and Bucharest-based growth equity fund providing €5-8 million growth capital investments to mature founder-owned SMEs across Central and Eastern Europe, holding minority and majority stakes across entertainment, F&B, fintech, education, aviation, and industrial technology sectors with 3-7 year investment horizons.
- Ownership category
- akta.pro rank
Mozaik Investments industry classification
Industry- Product category
- Growth Equity / Private Equity Investment
- NAICS
- Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- SME Term Loans & Growth Capital (FSAKAGAB)
Keywords
Where Mozaik Investments is headquartered
LocationHeadquarters
- HQ city
- Bucharest
- HQ country
- Romania
- HQ region
- Europe
Offices2 records
Markets served
Mozaik Investments business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Capital gains from portfolio company exits: Mozaik generates returns through capital gains on their growth equity investments in portfolio companies. They take minority or majority stakes in companies with growth potential and exit after 3-7 years through strategic sales or IPOs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Growth equity investment tickets of €5-8 million |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Mozaik Investments product offering
Product offeringCore offering
Mozaik Investments is a growth equity investment fund that provides growth capital of €5 million to €8 million per transaction to small and mid-sized companies in Central and Eastern Europe. The fund takes minority or majority equity stakes with a flexible 3-7 year investment horizon, while supporting founders with board-level strategic guidance, governance support, and follow-on capital raising. Mozaik operates from offices in Vienna and Bucharest, targeting mature founder-owned businesses with proven unit economics, positive cash flow, and substantial organic revenue growth.
Product overview
Mozaik Investments operates as a growth investment fund (not a technology product company) offering growth capital investments of €5-8 million to mid-sized companies in Central and Eastern Europe. The fund's portfolio comprises portfolio companies across diverse sectors including: SET (industrial energy technology with variable-speed gearboxes and the BLUAUL energy management platform), Untold Group (entertainment/festivals including the UNTOLD, Neversea, Massif festivals and new KAPITAL urban festival), Pago (utility bill payment app), Flavours Group (food services including Stradale restaurants and Mitzu cafes), 5 to go (coffee chain), Genesis College (private education), and Airborne Technologies (airborne surveillance systems). The fund is sector-agnostic with offices in Vienna and Bucharest, typically taking minority stakes with 3-7 year investment horizons.
Differentiator
Problem solved
Functional benefit
Brands
- Mozaik Fund II: The €51 million growth equity fund launched in 2024 backed by the European Investment Fund.
Products and services
- Growth Capital Investment Services
Quantifiable outcome
- Typically targets companies with >20% annual organic revenue growth
- +1 more outcomes
Companies that use Mozaik Investments
Customer profileNamed customers7 records
Segments2 records
Ideal customer profiles1 record
Mozaik Investments technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Mozaik Investments partnerships and signals
Strategic signalScale indicators7 records
Recent moves8 records
Expansion highlights6 records
Mozaik Investments competitors and assessment
Company assessmentDirect peers
- Resource Partners: CEE-focused private equity firm investing in mid-market growth companies across Poland, Czech Republic, Slovakia, Hungary, Romania, and the Baltics. Direct comparable on geography and ticket size, with similar sector-agnostic approach.
- Enterprise Investors: Polish-rooted CEE PE/VC manager with 30+ years of regional track record, deploying growth capital across the region. Comparable on regional focus and mid-market positioning, with broader product range including VC.
- Mid Europa Partners: One of the largest dedicated CEE private equity firms, deploying growth and buyout capital across Central Europe and Turkey. Comparable to Mozaik in regional focus and growth-equity orientation, but operating at significantly larger AUM.
- BlackPeak Capital: Bulgaria-rooted growth capital investor focused on the Balkans and broader CEE region. Comparable as a regional growth equity specialist serving SMEs with similar ticket sizes.
- Invenio Partners: CEE-focused private equity firm co-investing with Accession Capital Partners in the 5 to go exit. Comparable regional growth equity investor serving founder-owned SMEs in Romania and the broader CEE region.
- 3TS Capital Partners: CEE-focused growth capital investor with offices across the region, backing technology and consumer-enabled businesses. Comparable on regional focus and growth-stage ticket sizes, with a more sector-tilted (tech-enabled) thesis.
- Abris Capital Partners: CEE-focused mid-market private equity firm with multiple funds, targeting control and growth equity investments in Romania, Poland, and the wider CEE region. Most directly comparable as a regional growth-equity investor with overlapping ticket sizes and sector breadth.
- Highlander Partners: US-rooted PE firm with active CEE/Romania investment activity including co-investments in Romanian SMEs. Comparable on growth equity tickets to founder-owned companies in the region.
- Accession Capital Partners: CEE growth capital investor that co-invested with Mozaik in the 5 to go exit. Directly comparable as a regional growth equity investor with overlapping ticket sizes and similar founder-led investment approach.
Regional players
- Argus Capital Group: Sofia-based private equity manager investing across SEE and CEE with growth and buyout tickets. Comparable regional mid-market PE investor but with SEE (rather than CEE-anchored) primary focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks2 records
Key highlights7 records
Customer concentration
Mozaik Investments social profiles
Digital presenceMozaik Investments compliance and trust
Trust signalCompliance4 records
Mozaik Investments financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mozaik Investments leadership team
Management profileNumber of profiles
Profiles7 records
Mozaik Investments subsidiaries and ownership
Company hierarchySubsidiaries7 records
Mozaik Investments funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mozaik Investments M&A and investment
M&A and investmentM&A
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mozaik Investments
What does Mozaik Investments do?
Mozaik Investments is a growth equity investment fund that provides growth capital of €5 million to €8 million per transaction to small and mid-sized companies in Central and Eastern Europe. The fund takes minority or majority equity stakes with a flexible 3-7 year investment horizon, while supporting founders with board-level strategic guidance, governance support, and follow-on capital raising. Mozaik operates from offices in Vienna and Bucharest, targeting mature founder-owned businesses with proven unit economics, positive cash flow, and substantial organic revenue growth.
Is Mozaik Investments a public or private company?
Mozaik Investments is a private company. It is classified as venture growth investor backed and is currently operating.
When was Mozaik Investments founded?
Mozaik Investments was founded in 2018. It employs 1 to 10 people.
Where is Mozaik Investments based?
Mozaik Investments is headquartered in Bucharest, Romania, in the Europe region.
How does Mozaik Investments make money?
One revenue line is on record: capital gains from portfolio company exits.
Who are Mozaik Investments's main competitors?
Direct peers on record are Resource Partners, Enterprise Investors, Mid Europa Partners, BlackPeak Capital, Invenio Partners, 3TS Capital Partners, Abris Capital Partners, Highlander Partners and Accession Capital Partners. Argus Capital Group is listed as a regional player.
Does Mozaik Investments have an API?
No public API is recorded for Mozaik Investments.
What industry is Mozaik Investments in?
Mozaik Investments's product category is Growth Equity / Private Equity Investment. Its primary akta.pro industry code is FSAKAGAB, SME Term Loans & Growth Capital. Its NAICS code is 52394 and its SIC code is 6282.