LAUNCHub Closes 65 Million Euro for Third Fund

LAUNCHub has reached a first close of 65 million euro for its third fund, SeeNews reported.

The Sofia-based early-stage investor joins a short list of Southeast European firms that have raised institutional pools of that size in recent years. A first close allows a fund manager to begin deploying capital while continuing to raise toward a larger final target. SeeNews did not disclose the final target size or the investor base behind the vehicle.

LAUNCHub has been one of the most active seed investors in Bulgaria and the wider region since its founding. The firm's earlier funds backed startups across Southeast Europe, making it a fixture of the regional venture ecosystem. The third fund signals continued appetite for Balkan seed-stage deals despite a tighter European fundraising environment.

What does the first close mean?

A first close at 65 million euro gives LAUNCHub committed capital it can invest immediately. Limited partners that sign at first close typically pay in capital on the fund's schedule from day one. The firm can now write new checks while it works toward a final close, which usually occurs within 12 to 24 months of the first.

For founders in Sofia and beyond, the practical effect is straightforward: a regional seed investor with fresh institutional backing and a multi-year deployment runway.

Why does it matter for the region?

Bulgaria's venture market remains small by European standards, and locally raised funds of this size anchor the ecosystem. LAUNCHub's previous funds helped finance a generation of Southeast European founders who often struggled to find early capital at home before pan-European firms arrived.

The 65 million euro first close positions the firm to continue that role through the current cycle, when many European seed funds have slowed deployment.

What comes next?

LAUNCHub will now deploy Fund III into seed-stage startups, with further commitments possible as it moves toward a final close. The size of that final close, and the pace of investment, will determine how large a share of the region's next cohort of founders the firm can back.