South Central Ventures, a leading regional venture capital fund manager with offices in Ljubljana, Zagreb, Belgrade and Skopje, is increasing its assets by €70 million with the launch of the new SCV Technology Fund III. The new fund has received investments from both institutional and knowledgeable private investors, the largest foreign investors being the European Investment Fund (EIF) and the European Bank for Reconstruction and Development (EBRD), and Slovenian investors Zavarovalnica Triglav d.d. and BTC d.d.

With the new €70 million SCV Technology Fund III, South Central Ventures will invest in early-stage technology companies in the Western Balkans that need funding to break through to international markets. As pointed out by Jure Mikuž, Partner at South Central Ventures, this is an evolution of South Central Ventures' previous strategy with the addition of the Slovenian market, which has not been directly covered so far:

"Slovenia is one of the most developed countries in the region, and the advantages of its technology entrepreneurship are mainly the number of successful technology companies and the export orientation of its entrepreneurs. We firmly believe in the strategy of investing in future tech winners from across the region, from which an increasing number of breakthrough tech companies are emerging. The successful investments made under the previous ENIF fund confirm the validity of our approach."

Jure Mikuž is an experienced investor with more than 15 years of experience in venture capital. He has participated in more than 30 projects in various technology industries and is well known in Slovenia for his successful investments in Celtra, Daibau (Mojmojster.net platform), Sentinel Marine and Leanpay. The past returns achieved, co-creating the development of technology entrepreneurship in the region, and extremely high ethical and moral standards in asset management are prerequisites for South Central Ventures' long-term cooperation with reputable domestic and international investors.

"BTC d.d. is delivering on its digitisation strategy by joining the ecosystem of technology companies in Slovenia and the wider region. Joining the SCV Technology Fund III allows us to become an important part of this environment and at the same time to enrich our invested funds", said Damjan Kralj, Chief Executive Officer of BTC d. d.

Michael Parry, Deputy Director, Venture Capital & Private Equity Funds, EBRD:

"Accelerating the digital transition is a high priority for the EBRD and South Central Ventures is a valuable partner in developing the innovation ecosystem in South-East Europe. We are delighted to be part of their new fund and hope that together we can build great tech companies in the region."

South Central Ventures, the region's leading venture capital fund manager, operates through four offices in Ljubljana, Zagreb, Belgrade and Skopje, with an experienced team of investment managers. Recently, successful entrepreneur Goran Stevanovic joined them as a partner in Belgrade:

"The tech sector has the opportunity to fundamentally transform our region and we need more local start-ups to succeed globally. The SCV team, with its unique position, can be a catalyst for this change and that is why I decided to join. I want to bring my 20 years of experience in the software industry and my passion for entrepreneurship."

South Central Ventures has also obtained the voluntary market passport offered by the European Venture Capital Fund Regulation (EuVECA) to qualified fund managers in the European Union. The company will continue to invest in early stage tech start-ups that have a developed product and need funds for faster development and accelerated growth. Initial investment amounts start at €500,000 and maximum SCV investments can reach a total of up to €5 million over their lifetime. SCV’s mantra is to be the first institutional investor in regional start-ups, helping them to attract co-investors in follow on rounds and support their growth towards globally successful tech companies.

As PODIM'S Golden Unicorn partner, SVC will be on the lookout for the next big startup idea. With their readiness to invest in something new and fresh, PODIM 2022 is your big chance to meet and impress them. Members of the SCV team will be there at Demo Days on the 4th and 5th of May, as well as at the semi-finals and finals of the Podim Pitching Competition on the 16th and 17th of May. You’ll also get a chance to talk to them in the Podim Deal Room. You can find ore information here.