VC and accelerator firm Startup Wise Guys has closed the first EUR25 million (US$26.7 million) of EUR45 million (US$48 million) that will be used across its various geographies and vertical-focused funds to support its new strategy focused on global markets that remain underserved by capital investment.
Founded in Tallinn, Estonia in 2012, Startup Wise Guys manages SaaS accelerator programmes out of Milan as well as cybersecurity programmes from Cosenza. The company has so far worked with more than 500 founders, made more than 235 startup investments, seen five exits, and achieved an overall startup survival and success rate above 77 per cent.
Disrupt Africa reported in 2021 the company had expanded to Africa, and in November of last year nine startups were selected to take part in the second edition of its accelerator, which offers selected B2B Saas startups access to EUR65,000 (US$67,000) in funding, as well as an intensive five months of mentorship.
Startup Wise Guys has now announced a partial closing of its EUR45 million (US$48 million) target, with strategic focus on markets with strongest potential to absorb capital investment. With the funds, it will invest in a minimum of 200 startups from mostly across Europe and Africa in 2023 and 2024, after making 120 investments in 2022.
“In recent years, Startup Wise Guys has evolved into a truly international organisation, with an investment presence in countries ranging from Ukraine and Spain to South Africa. We are now deploying our experience at scale to help passionate founders thrive globally, in spite of uncertain economic conditions,” said Cristobal Alonso, global CEO at Startup Wise Guys.
“We are the early-stage investor ready to help digital entrepreneurs with brave ideas, especially at times of crisis. We proved that during COVID-19, and we were active after the Ukraine war started. We are determined to help entrepreneurs turn crises into new opportunities, and we have a strong track record helping purpose-driven founders become global entrepreneurs.”
