What 33East does

33East is a Cyprus-rooted pre-seed and seed venture capital firm that invests between €100,000 and €1 million-plus per company, targeting founders with a connection to Cyprus who are building globally scalable businesses. The firm officially launched its inaugural fund in February 2025 with a €26 million first closing, backed by the European Investment Fund (EIF), the Government of Cyprus, the National Recovery and Resilience Fund (RRF), and the Bank of Cyprus as founding investor — making it the first VC fund in Cyprus to receive EIF investment. The firm operates from Nicosia (headquarters) and London (secondary office), with a lean five-person team led by co-founders and partners Yiannis Eftychiou and Demetrios Zoppos, supported by analysts and an advisor network.

The fund's core "product" is its investment and value-add service offering, which combines capital with hands-on operational support spanning hiring, brand, product, and strategy. The firm differentiates itself through operator credibility — Demetrios Zoppos co-founded GF-X, onefinestay (which exited at $200M), and Klevio, while advisor Tiffany Philippou was employee #1 at onefinestay. Portfolio companies span renewable energy trading (Electryone), AI-powered wealth management (Clove), grid infrastructure software (Squid, Y Combinator W26), sports biomechanics (FitWise), and other applied-AI and deep-tech bets. The fund additionally allocates €2.5 million to an acceleration compartment for entrepreneurs at the earliest pre-idea stages, supplemented by an SFDR Article 6 compliance framework and partnerships with Cyprus Seeds, RIF Future Founders Academy, and Cyprus Business Angels Network.

33East's revenue model is standard venture fund economics: management fees on committed capital plus carried interest on realized exits. The firm generates no product or SaaS revenue; its economics depend on fund vintage maturity, DPI from portfolio exits, and successful fundraising for a successor fund. As a first-year fund with seven disclosed portfolio investments and no announced exits, current-period revenue is constrained to management fee income on the €26M AUM base.

Name

33East

Legal name

33East LLC

Website

https://33east.vc

Company type

Private

Founded year

2025

Operating status

Operating

Short description

33East is a Cyprus-rooted pre-seed and seed venture capital firm that invests €100k–€1m+ into founders with a Cyprus connection, operating from a €26M inaugural EIF-backed fund based in Nicosia and London.

Ownership category

akta.pro rank

Product category

Venture Capital / Early-stage Investment

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Finance and Insurance (52)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

Keywords

• Venture capital
• Pre-seed investing
• Seed-stage funding
• Early-stage startups
• Startup funding

Headquarters

HQ city

Nicosia

HQ country

Cyprus

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Fund Management and Carry: 33East generates returns through management fees and carried interest on the €26 million fund. The fund invests equity in early-stage startups and realizes returns through exits (acquisitions, IPOs) of portfolio companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

33East is a Cyprus-rooted venture capital firm that invests equity in pre-seed and seed-stage startups with a connection to Cyprus. The firm deploys tickets ranging from €100k to €1m+ per portfolio company, with an additional €2.5 million acceleration compartment for earliest-stage entrepreneurs. Beyond capital, 33East provides hands-on operational support covering hiring, brand, product, and strategy, and connects founders to top-tier international funds for subsequent rounds.

Product overview

33East is a venture capital firm that operates as an investment fund rather than a product company. The firm provides venture capital investment services at pre-seed and seed stages, deploying between €100k and €1m+ per investment. The firm supports portfolio founders through hands-on operational assistance (hiring, brand, product, strategy), fundraising preparation and investor introductions, and access to European and global startup ecosystems. The fund completed its first closing at €26 million and is backed by the European Investment Fund (EIF), Government of Cyprus, Bank of Cyprus, and the National Recovery and Resilience Fund (RRF). The portfolio companies referenced on the website (Electryone, Mokka AI, FitWise, Genie, xmemory, Clove, Squid) are investment holdings of the fund, not products or services offered by 33East to customers.

Differentiator

Problem solved

Functional benefit

Products and services

• 33East Inaugural Pre-seed and Seed Fund

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Research and Innovation Foundation (RIF)coreStrategic or Co-development Partner · 23 March 202633East participated in RIF's Future Founders Academy Demo Day as a mentor and judge, providing feedback to programme beneficiaries. The initiative provides €25,000 in financial support alongside specialized training to help participants transform early-stage ideas into viable business propositions.
• Cyprus Business Angels NetworkminorStrategic or Co-development Partner · 23 March 2026Cyprus Business Angels Network participated in RIF's Future Founders Academy Demo Day alongside 33East, providing mentorship and feedback to emerging entrepreneurs.
• Kinisis VenturesminorStrategic or Co-development Partner · 23 March 2026Kinisis Ventures participated in RIF's Future Founders Academy Demo Day alongside 33East, providing mentorship and feedback to emerging entrepreneurs.
• Cyprus SeedscoreStrategic or Co-development Partner · 9 February 2026Cyprus Seeds and 33East co-hosted a networking event in London bringing together over 100 Cypriot founders, researchers, and investors. The event featured startup presentations from Electryone AI, Genie Fertility, and Tyten (all 33East-backed companies). This marked Cyprus Seeds' first joint initiative with an external VC partner, expanding their strategy to support tech startups abroad with Cypriot connections.

Scale indicators4 records

Recent moves7 records

Expansion highlights4 records

Others

• Inovia Capital:

Direct peers

• Kinisis Ventures: Cyprus-based early-stage VC fund. Direct peer targeting Cyprus-connected founders at pre-seed and seed stages, overlapping ecosystem partnerships (RIF Future Founders Academy).
• Cyprus Seeds: Cyprus-based pre-seed and proof-of-concept funder. Direct peer focused on the same Cyprus founder ecosystem; 33East has a strategic co-hosting partnership with them in London.

Broad incumbents

• Speedinvest: One of Europe's largest seed-stage VC funds with multi-sector focus (fintech, deep tech, health). Comparable as a pan-European seed investor; much larger scale and broader geographic mandate than 33East.
• Crane Venture Partners: London-based seed-stage VC focused on enterprise software and AI. Comparable as a European institutional seed investor; broader geography and larger fund than 33East.
• Hoxton Ventures: London-based early-stage VC focused on European technology startups. Comparable as a European pre-seed/seed investor with founder-led approach; broader geography and larger fund size than 33East.
• Earlybird Venture Capital: Pan-European early-stage VC with multi-stage capabilities. Comparable as an institutional seed investor in Europe; broader geography and significantly larger AUM than 33East.
• Connect Ventures: London-based pre-seed and seed VC focused on European tech. Comparable as a European institutional seed investor; broader geography than 33East and larger fund.
• LocalGlobe: UK-based pre-seed and seed VC founded by Robin Klein. Comparable as a founder-friendly seed investor in the European ecosystem; broader geography than 33East.
• Notion Capital: London-based VC focused on B2B SaaS at seed and Series A. Comparable as a European institutional seed investor; broader sector mandate and larger fund than 33East.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

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

Investments6 records

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

Frequently asked questions about 33East