Over the past years, Croatia has managed to grow a very lively startup scene, with well-known companies such as Infobip and Rimac Automobili. It is supportive of entrepreneurs, with initiatives such as the €80 million Croatian Venture Capital Initiative 2, which was set up to boost innovative SMEs. To assist entrepreneurs, we've compiled a comprehensive list of venture capital investors and handpicked the top 10 firms in Croatia. You can find more details about investment opportunities here.
Here's a table that summarizes the overall VC data for a quick overview:
1. Fil Rouge Capital (FRC)
Fil Rouge Capital is a fund management company focused on early-stage, pre-seed to Series A investments. In the process of building the world-class Croatian entrepreneurial ecosystem, FRC offers "Capital for the Bold" with full support through all stages of incubation to exit. Having successfully managed over $4 billion in M&A and financings, FRC delivers much more than money-investing honest advice and real value, and a no-nonsense approach to ensure successful startups.
With 20 years of experience, South Central Ventures is a leading seed-stage VC firm investing in innovative startups in SEE. With offices in Ljubljana, Zagreb, Belgrade, and Skopje, SCV actively supports founders who build market-leading companies in globally prosperous industries. Apart from the money, they also provide mentorship and strategic guidance to enable entrepreneurs to scale globally, boost innovation, and create growth in the SEE startup ecosystem.
Feelsgood Social Impact Investment Fund is the first impact investment fund to focus on ventures in Croatia and Slovenia, which balance profitability with measurable social impact. The company invests in businesses aligned with one or more of the 17 Sustainable Development Goals, supporting strong management teams with scalable and sustainable models. Established in 2020, the fund strives to create ESG impact coupled with financial return in order to contribute toward a more conscious and sustainable future.
Day One Capital is an early-stage technology investor managing privately financed funds. Focused on supporting exceptional Central Eastern European teams with global ambitions, Day One Capital combines hands-on involvement with a trusted partnership approach. With a portfolio rooted in value creation and category-defining innovation, they leverage their international network to empower founders and drive sustainable growth from day one.
Geography: Central and Eastern Europe, including Croatia
Notable Investments: Not specified
5. Credo Ventures
This VC firm partners with exceptional technology founders from Central and Eastern Europe to help them achieve global success. It has invested since 2010 in pre-seed and seed-stage companies, with first tickets up to €5M. Operating €250M across four funds, including a €75M fourth fund, it backs the most audacious entrepreneurs from idea stage to product-market fit with unwavering support each step of the way.
J&T Ventures is an independent venture capital fund investing in CEE, SEE, and the Baltics. Backed by partner-investors, it provides €300K–€3M in equity or convertible loans to pre-seed to Series A startups. With expertise in sectors like IT, AI, FinTech, DeepTech, and Climate, J&T Ventures supports scaling from thousands to hundreds of thousands in MRR, leveraging the J&T Group's network to drive portfolio success.
Geography: Central and Eastern Europe, including Croatia
Notable Investments: Not specified
7. PortfoLion Capital Partners
PortfoLion Ventures is the venture capital and private equity arm of OTP Bank focused on supporting small and medium enterprises across the CEE region. With its multi-stage fund structure, it builds long-term relationships with founders who have exceptional visions by continuously and agilely providing support to business growth with a strong value creation impact in the world.
Geography: Central and Eastern Europe, including Croatia
Notable Investments: Not specified
8. Elevator Ventures
Elevator Ventures is a venture capital fund, backed by Raiffeisen Bank International and its regional partners, managing over €100 million to support technology companies in Fintech and Beyond Banking. The fund focuses on the DACH and CEE regions, availing itself of a strong network and deep investor expertise. With over €50+ million invested in 15 companies and four successful exits, Elevator Ventures drives growth and innovation across its portfolio.
Speedinvest is one of Europe’s leading early-stage VC firms, managing over €1 billion and operating from Berlin, London, Munich, Paris, and Vienna. Known for its hands-on approach, Speedinvest empowers founders with industry-focused teams, in-house operational experts, and global networks. Beyond funding, they offer tailored support in growth marketing, HR, and business development, ensuring founders succeed at every stage of their journey.
APX, backed by Axel Springer and Porsche, has been a top early-stage investor in Europe since 2013, supporting over 185+ startups, among them the fintech unicorn N26. Now continuing as HEARTFELT_, the team still manages the active portfolio of APX but is doing new pre-seed investments. With a decade of experience and a strong founder network, HEARTFELT_ continues to champion the next generation of Europe's groundbreaking startups.
Is VC high risk? Venture capital is a type of investment that can be risky but has the potential for high returns. However, there is no guarantee of success. Investing in startups is always uncertain, and you might lose your money. Even though VC firms try to minimize risks, investing in startups is always uncertain, and you might lose your money.
What is the best country in Europe to set up a VC fund? Luxembourg is ideal for setting up a VC fund in Europe due to its investor-friendly regulations, diverse investment vehicles, and a strong financial sector that supports local and foreign investors. The country's tax efficiency and stability further make it a preferred choice.
Which European cities have the most VC investments? The top cities for VC investments in Europe are London, Paris, Berlin, Amsterdam, and Stockholm. London leads with $22.67B in 2023, followed by Paris and Berlin. These cities are known for strong startup ecosystems and significant funding opportunities.
What is the minimum amount for a VC fund? Venture capital funds usually ask for a minimum investment of $250,000 to $500,000, and sometimes even more. Investing a small amount of money can still cost a lot. These funds are usually only open to wealthy people and big organizations that have a lot of money.
How do I choose a VC fund?To choose a VC fund, check how much experience and success the venture capital firm has had before. Look at the companies they’ve invested in before to see if they match what your business does. This can help you figure out if they’re a good match for you.
Best of luck with your amazing ventures.
Please note that this list is filtered by various metrics, and all the data are collected through various third-party websites, mostly the VC website. Since data such as ticket size or industry may change, you are requested to visit the official website given in the blog for the latest and updated information.
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