[Funding alert] Bucharest-based Underline Ventures Secures its first fund at $20 Million Funding

In order to aid in the development of the businesses in its portfolio, Underline Ventures will also keep utilising its network and expanding its platform offerings.

Read also - Tallinn-based Deeptech become Cleantech Startup Efenco Secures €4.5 Million in Funding

International fund-of-funds, corporate leaders, IT entrepreneurs, and operators have contributed to the fund raising. With the goal to provide its portfolio companies with a more powerful platform, the corporation intends to further up its efforts in this area.

The General Partner of Underline Ventures, Bogdan Iordache said, “We are lucky to partner with investors who have a deep conviction that Eastern European founders can build significant technology businesses despite the macro environment. We know founders fundraising in this climate have to show a lot of resilience – while this may be a difficult start, in the long run, it can be a great way to start,”.

The company is actively investing and has completed seven investments spanning from big data & AI and cybersecurity to ecomm infrastructure in Romania, Croatia, Serbia, and the wider Eastern European diaspora.

Read also - Amsterdam-based Grocery App Crisp Secures €35 Million in Funding

In addition, portfolio firms receive periodic guidance from founders and operators of companies such as Bitdefender, Telerik, and UiPath, among others, whenever needed.

About Underline Ventures

Underline Ventures works with Eastern European entrepreneurs to create high-growth companies with international aspirations from the outset.

Read also - UK-based Accenture Acquire 6point6

The fund, situated in Bucharest, is dedicated to creating a comprehensive and interactive platform that enables entrepreneurs to receive pertinent assistance for some of the primary operational challenges they encounter, including as hiring, marketing, sales, communications, finances, and fundraising.