Most well known as the founder of the long-running Bucharest-based How to Web conference, Bogdan Iordache is now joining the growing trend of solo GP venture funds under the banner Underline Ventures.
With stints at Gecad Ventures, 3TS Capital Partners, and MVP Academy, Iordache is no stranger to the world of investing, and with Underline he’ll be targeting early-stage Eastern European startups that, naturally, have global ambitions.
In the works for over a year now, the Underline Ventures team includes former UIPath exec Vlad Ionescu and V7 Capital Managing Partner Iulian Cîrciumaru as Venture Partners, former co-CEO at Bookster Iulia Ghita as Investment Manager, and Pago Marketing Manager Adriana Spulber running communications, Craft Solutions CEO and co-founder Sebastian Boureanu, and Mihaela Ciobanu.
According to Iordache, the fund has raised half of its targeted €20 million, and is backed by some 20+ founders and early-stage operators from companies such as UiPath, Green Horse Games, Telerik, Elrond, MorphL, Smartbill, CleverTaxi and others, along with a host of professional venture fund investors.
”Our fund thesis is generational,” said Bogdan. “We believe the Eastern European tech industry hit a critical mass of experienced founders and operators from scale-ups that are now starting or contributing to new startups, along with many young ambitious founders. While their expertise is excellent on the operational side, we believe Underline Ventures can help them understand the venture way and connect them with the world of venture capital, so they can build high-growth startups, not only successful companies.”