Romanian fund Early Game Ventures launches start-up accelerator

Early Game Ventures (EGV), a Romanian investment fund that specializes in financing early-stage companies, announced the launch of its acceleration program dedicated to technology startups. Each year, the fund will select about 5 Romanian IT firms that can receive up to EUR 200,000 for 7%-10% of the shares, local Startupcafe.ro reported.

Every year, the fund aims to select 5 or 6 Romanian startups in the technology field, to accelerate them in a very intense program, coordinated by Early Game Ventures partners. Startup selection will go on throughout the year.

“Our acceleration program is very selective. Given that we only accept 5 or 6 teams per year, we will not work in the cohort system used by other acceleration programs in Romania, but we will be open to startups throughout the year. Whenever we find a team that we believe in, we will invest in it on the spot and immediately start working with the entrepreneurs. This is another essential thing: in our program, entrepreneurs teams work directly with EGV partners, having direct access to key people and all fund resources,” said Cristian Munteanu, Managing Partner of Early Game Ventures.

“Over the past few months, we have reviewed over 150 startups, from which we chose three teams to invest in. We expect that we will keep this 2% conversion rate from the first contact with a startup to the actual investment in the future,” said Cristian Munteanu.

Early Game Ventures is a venture capital fund funded mostly through the Competitiveness Operational Program 2014-2020, co-funded by the European Regional Development Fund.

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