Warsaw-based Movens Capital has launched a €60 million multi-stage fund to invest in founders from Central and Eastern Europe.
Fund 2 will provide first checks of €250,000 to €3 million for startups at pre-seed, seed, and Series A and Series A+ stages.
The launch follows the success of Fund 1, which provided early backing to a number of breakout startups across the region and helped organise over €110 million in follow-on funding for its portfolio companies.
Despite steady growth in startup creation and ecosystem value, Central and Eastern Europe still faces a significant venture funding gap. In 2024, VC investment in the region dropped by 23 per cent, while the number of deals has declined by over 70 per cent since 2022.
The gap between Western Europe and Central & Eastern Europe (CEE) is especially striking in per capita VC investment, reaching €85 in Western Europe compared to just €13 in CEE. Series A and growth-stage funding are particularly limited, often forcing founders to either relocate or pause their growth. This structural funding shortfall continues to hold the region back and leave much of its potential unrealised.
With Fund 2, Movens Capital aims to address the region’s funding gap by backing standout young firms across enterprise software, AI, climate tech, fintech, healthcare, e-commerce infrastructure, and the future of work sectors.
The fund will make around 30 investments across Central and Eastern Europe, including diaspora founders building globally.
Artur Banach, Managing Partner at Movens Capital, said:
This region never lacked talent. What’s missing is the capital and operational support needed to turn early traction into global growth. Movens Capital is the launch pad for ambitious CEE founders aiming for global leadership. As former tech entrepreneurs, we actively support portfolio companies with meaningful operational expertise and strategic guidance. Backed by a uniquely engaged community of top-tier tech executives and advisors, we leverage their deep industry experience and networks to help founders rapidly scale and achieve lasting success globally.
Alongside equity capital, the Movens team brings decades of experience as tech operators, including deep expertise in building AI and machine learning-driven businesses as well as designing pricing strategies.
The team provides hands-on support across the investment lifecycle, helping startups build defensible products, attract talent, and prepare for follow-on rounds.
The fund is backed by the European Bank for Reconstruction and Development (EBRD), PFR Ventures, and over 80 startup founders, tech operators and seasoned entrepreneurs with serious ambitions for the region.
Anne Fossemalle, Director, Equity Funds at the EBRD, said:
We are delighted to back Movens’ new fund and help empower the next generation of tech founders in Central and Eastern Europe. Supporting the growth of the venture capital and private equity ecosystem is a key priority for the Bank in the region, and we are confident that this partnership will scale up new innovative and high-potential companies.
Bartłomiej Samsonowicz, Investment Director at PFR Ventures, sees continued collaboration with Movens as a positive step, expressing satisfaction in supporting Movens Fund 2 through their balance-sheet-financed fund of funds after previously backing Fund 1 under the EU program. He comments:
Movens’ team has consistently demonstrated a high level of professionalism in both their investment processes and investor relations. We are confident that they will play an important role in addressing the financing gap for innovative startups across multiple stages.
The firm’s portfolio includes Alokai (formerly Vue Storefront), Packhelp (exited), SKY ENGINE AI, Talkie.ai, Certifier, Trasti, Doctor.one, and Fenige (exited).
Movens-backed companies have gone on to raise funding from globally leading VCs, close M&A deals, and scale internationally.
Movens is already actively investing capital from Fund 2, with the first wave of deal announcements expected this summer. It will continue to invest in sectors where the region’s founders are doing forward-thinking and industry-leading work, including AI-native infrastructure, embedded financial services, and climate resilience technologies.
Lead image: Movens Capital team | Photo: Uncredited
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