LAUNCHub

Managing partners Lyuben Belov and Todor Breshkov lead the investment committee, with partner Stanislav Sirakov also holding decision-making authority. The trio has been stable since the firm's transition from accelerator to institutional fund manager in the mid-2010s (per EU-Startups, 2021).

LAUNCHub exclusively makes direct equity investments in seed and pre-Series A startups. The firm does not operate as a fund-of-funds and has no history of LP commitments into other venture managers.

The firm writes first checks at the seed stage, occasionally extending into pre-Series A follow-on rounds. It does not run a growth-stage fund, though it has supported portfolio companies like Gtmhub into later institutional rounds led by external GPs.

Its accelerator-era origins created a persistent local network — the firm reviews over 1,000 Southeastern European startups annually through direct intake, referrals from alumni founders, and relationships with regional university and corporate innovation programs.

The firm concentrates on enterprise software, fintech, digital health, agritech, and media tech. It has no known exposure to hardware-intensive deep tech, biotech, climate hardware, or cryptocurrency protocols, consistent with its capital-efficient seed mandate.

LAUNCHub is a pure venture capital firm managing committed capital from institutional LPs including the EIF and local fund-of-funds. It is not a family office, though its partnership governance remains founder-led.

The accelerator launched in 2012 as one of Bulgaria's first startup programs. The investment team later raised independent venture funds under the LAUNCHub name, operating as a separate legal entity from the accelerator while retaining the brand and operational ethos. The current fund business is the successor entity.