October 19 (SeeNews) - Bulgarian venture capital (VC) firm Eleven Ventures said on Wednesday that it started a three-month investment programme to support early-stage startups.
As part of the Eleven Alpha programme, approved startup candidates will receive a fixed investment of 300,000 euro ($293,695). In return, Eleven Ventures will obtain stakes of 10% in the firms, it said in a statement.
The programme is focused on startups in Southeast Europe, although Eleven Ventures is open to companies from all over Europe, it said. Startups should preferably operate in the areas of fintech, healthcare, future of work, future of food but the programme is open to startups in all domains.
Companies can apply for joining the programme until November 19.
Eleven Alpha will be carried out separately from Eleven Ventures’s standard investment track.
The terms of the programme are similar to those of Eleven Ventures’ previous investment in payment management platform Payhawk, which became Bulgaria’s first unicorn.
($ = 1.0226 euro)