# Underline Ventures

Underline Ventures is a Venture Capital based in Bucharest, Romania.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Bucharest, Romania
- **Region:** Europe
- **Address:** Bucharest, Romania
- **Founded:** 2022
- **Assets under management:** <$50M (Altss estimate)
- **Website:** underline.vc
- **LinkedIn:** https://www.linkedin.com/company/underline-vc

## Regulatory record

- **Reports private funds:** No

## About

Underline Ventures invests in Eastern European startups founded by local entrepreneurs at the seed stage. The firm, founded in 2022 in Bucharest, Romania, has made 18 investments. Its latest investment was in Bible Chat as part of their Series A on February 19, 2025.

## Sectors

- Enterprise Software
- AI/ML
- FinTech
- Digital Health
- Cybersecurity
- Industrial Tech
- Mobility & Transportation

## People

- Bogdan Iordache — General Partner

## Questions

### Who runs investment decisions at Underline Ventures?

Bogdan Iordache serves as General Partner and is the firm's primary decision-maker. He operates with a lean team of venture partners who contribute sourcing and diligence capacity across specific technology verticals and geographies. No external investment committee or family-office oversight was disclosed in public filings.

### How does Underline source deals in Eastern Europe?

The firm sources primarily through the How to Web conference network, direct relationships with technical university faculties in Romania and Bulgaria, and a scout network of US-based venture capitalists who refer teams ready for institutional capital. Iordache's decade-plus visibility as a conference organizer gives Underline early access to founders who often raise their first round.

### What investment stages does Underline typically target?

The firm focuses on pre-seed and seed rounds, writing initial checks between €500,000 and €1,000,000. It occasionally reserves capital for follow-on investments in breakout portfolio companies, but its primary mandate is to provide first institutional capital to Eastern European founders.

### Does Underline participate in fund commitments or only direct deals?

Underline executes only direct equity investments into operating companies. There is no public record of the firm making fund-of-funds commitments or purchasing secondary stakes.

### How does a Bucharest-based firm support US market entry for its portfolio?

Underline maintains a network of US-based operators and co-investors who participate in structured introductions for portfolio companies. The firm positions Eastern European engineering teams to sell into enterprise customers in North America, using the cost advantage of the region while generating revenue in dollars.

### What is Underline's relationship with the How to Web conference?

Bogdan Iordache co-founded How to Web before launching Underline, and the firm continues to support the conference as a strategic partner. The event functions as a proprietary top-of-funnel sourcing mechanism, concentrating Eastern Europe's most ambitious early-stage founders in one location annually.

## Related profiles

- [Underground Ventures](https://altss.com/profile/underground-ventures)
- [Undeterred Capital](https://altss.com/profile/undeterred-capital)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/underline-ventures

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