Only 2 years and 2 months after its first investments, Eleven already boasts 95 startups in its portfolio. We have already invested two-thirds of the 12 million euro capital of our first fund, backing almost 300 alumni from more than 20 countries.
We are happy to announce our first and last application window for this year and actually the last from our current fund. As usual, we will invest under our standard terms in 10-15 teams or about EUR 1 million in total over 2015. The remaining EUR 3 million will be used for follow-on investments in our existing portfolio companies.
In the last few years Sofia became one of the fastest growing startup hubs in Europe, and a great place to start a high-tech startup. More than 150 early stage investments were made in the city only over a couple of years. All sorts of startups launch and flourish in Bulgaria, and teams developing SaaS (25 companies from Eleven’s portfolio) and hardware solutions (20 respectively) find an exceptionally fertile ground to thrive. Among the myriad of startup events and meetups, we have dedicated peer meetups in these domains now, while all companies can take advantage of the recently established group of Growth Hackers.
Lately, many of our best applicants have come through referrals from our community of peers, mentors and investors. Given the rapid growth or our network, we expect this to be the most competitive application window so far. And to meet popular demand, we will hold open meetings in several cities across the region. These meetings will be hosted by Eleven alumni, who will share their firsthand experience with you and give you tips and hints for your projects.
Once the application window closes on March 8th, we’ll set pre-selection interviews not only in Sofia but also in Belgrade, Zagreb, Bucharest, Plovdiv and Varna. Shortlisted teams will be invited for the final Selection Days in Sofia in the end of March.
As for the future, Eleven itself will hit the fundraising trail in the second part of 2015, looking to grow stronger and better with its next 11.2 fund.
So no time to hesitate. Become One of 11 by applying here.