June 7 (SeeNews) - Bulgaria’s Vitosha Venture Partners said on Wednesday that it has invested a total of 1 million euro ($1.06 million) in nine startups, either based in Bulgaria or with Bulgaria-registered entities, and with a focus on digital technologies.
Five out of the nine new investments are in scale-ups -- Nakantara, Native Spaces, Chathalla, SN Metals and Finqup, while the other four -- Diplom Id, Petstay, Nomad Cabins and Twisted Technology -- are part of the venture fund's accelerator programme, Vitosha Venture Partners said in a press release.
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The companies are active in various sectors such as e-commerce, fintech, real estate and motor vehicles trading, modular homes, document certification and pet care.
The investment firm is in negotiations for more deals which are expected to be announced later this year as its portfolio is set to comprise 62 startups, present investments included, it added.
Vitosha Venture Partners is a 26 million euro venture capital fund, which is co-financed by European structural and investment funds under the Operational Programme for Innovation and Competitiveness 2014-2020. The venture capital provider is managed by the Fund of Funds in Bulgaria and is working on fostering an entrepreneurship ecosystem in the country.
In April, Vitosha Venture Partners took part in a seed round by Bulgarian retail pricing management startup Dynamic Pricing AI. In February, the venture firm added five local start-ups to its investment portfolio.
($ = 0.9351 euro)