Romanian investor launches solo GP fund for Eastern European startups
Romanian investor Bogdan Iordache, best known as the founder of the How to Web conference, launched Underline Ventures, a solo GP venture fund targeting early-stage high-growth Eastern European startups with global ambitions. He thus joins the ranks of solo VC managers emerging in Europe.
Underline Ventures’ debut fund has raised EUR 10 million, with a final target of EUR 20 million.
The fund is already a one-year effort, and the team includes experienced founders and operators from the tech world: Vlad Ionescu - Venture Partner, ex-UiPath; Iulian Circiumaru - Venture Partner, ex-7Card; Iulia Ghita - Investment Manager, ex-Bookster; Adriana Spulber; Sebastian Boureanu; and Mihaela Ciobanu.
Underline Ventures is backed by 20+ founders and early-stage operators from companies such as UiPath, Green Horse Games, Telerik, Elrond, MorphL, Smartbill, CleverTaxi, Tremend, and many others, along with professional investors in venture funds.
“Our fund thesis is generational. We believe the Eastern European tech industry hit a critical mass of experienced founders and operators from scale-ups that are now starting or contributing to new startups, along with many young ambitious founders. While their expertise is excellent on the operational side, we believe Underline Ventures can help them understand the venture way and connect them with the world of venture capital so that they can build high-growth startups, not only successful companies,” Bogdan Iordache said.
Iordache was also the founder of Conectoo (exited in 2013) and a former investor for Gecad Ventures, 3TS Capital Partners, and MVP Academy.
(Photo source: Underline Ventures)