LAUNCHub Ventures is a Sofia, Bulgaria-based early-stage venture capital fund and one of the most active investors in the Central and Eastern European (CEE) and Southeast European (SEE) startup ecosystem. The firm traces its roots to 2012, when it launched as an accelerator program backed by Google for Entrepreneurs. It later formalized into a dedicated fund structure, with its second fund – LAUNCHub Ventures Fund II – raising approximately €70 million with support from the European Investment Fund (EIF). The firm backs founders at seed and Series A stage, writing initial checks typically in the €0.5–3 million range.
Though LAUNCHub Ventures operates primarily as a generalist technology investor, it has selectively built exposure to blockchain and web3 projects alongside its broader portfolio. Its geographic thesis centers on CEE and SEE, a region the team views as underserved by institutional capital relative to the technical talent it produces. The fund is headquartered in Sofia and maintains a network across the wider European startup corridor.
Notable investments
LAUNCHub Ventures' best-known exit-track investment is Payhawk, a Bulgarian corporate spend management and card platform that reached unicorn status (valuation exceeding $1 billion) following a Series B round in 2022. While Payhawk is not a crypto project, it signals the fund's ability to identify fintech breakouts early in the CEE region.
Public information about LAUNCHub Ventures' specific crypto and blockchain portfolio companies is limited. The firm does not maintain a public registry of all 8 blockchain-related investments identified in aggregated data sources. Individual deal disclosures have been selective, and no crypto investments from the fund have reached the scale of public coverage as of early 2026. Interested parties should consult the firm's Crunchbase profile for the most current portfolio data.
Team
Todor Breshkov is a founding partner and one of the most visible figures associated with the fund. He has been active in the Bulgarian and SEE startup ecosystem for over a decade, participating in angel investing and accelerator programs before the fund formalized. Additional partners and venture partners are listed on the fund's official site, though their individual backgrounds are not comprehensively documented in widely available public sources.
Recent activity
LAUNCHub Ventures has continued deploying Fund II capital through 2024 and into 2025–2026, focusing on seed-stage companies in fintech, SaaS, and deep tech. The fund has also participated in regional initiatives tied to EIF programs aimed at stimulating startup investment across Bulgaria and neighboring markets. Specific new crypto or web3 deals announced in the last 12–18 months have not been prominently covered in English-language media.
For a fund of its geography and vintage, LAUNCHub Ventures holds a credible position as a gateway investor for Eastern European founders seeking institutional backing. Its crypto exposure remains a smaller portion of a broader technology portfolio. Founders building in the CEE region with web3 or fintech components may find the fund a relevant early-stage partner, though deal selectivity and ticket sizes should be confirmed directly with the team via launchub.com.