Fortech Ventures, the investment arm of Fortech, one of the biggest Romanian providers of outsourcing services for software development, announced the transition of its identity to Nucleo Ventures on Tuesday, June 23. 

The same day, the company announced the launch of a EUR 34 million investment fund developed in partnership with the North-West Regional Development Agency (ADR Nord-Vest). The latter also contributed EUR 23.5 million to the fund.

With additional funds secured from private capital and the management team, the fund will invest in startups and innovative companies across Romania and Central and Eastern Europe to support a new generation of internationally scalable businesses and strengthen Romania’s North-West Region as a destination for entrepreneurs, investment, and technology talent.

The fund was officially launched in Cluj-Napoca during an event that brought together more than 80 guests from the local business and startup ecosystem, the fund’s partners, and representatives of ADR North-West. Through its investment strategy, Nucleo Ventures aims to finance 46 companies over the next four years.

The choice of the North-West Region, which includes the counties of Cluj, Bihor, Maramureș, Satu Mare, Bistrița-Năsăud, and Sălaj, as the focal point of the fund’s investment strategy is no coincidence. The region is home to some of Romania’s strongest universities and technology communities and is already recognized for its thriving IT sector and its ability to generate companies with international growth potential, according to the company press release.

In addition to supporting local businesses, the fund aims to attract entrepreneurs, startups, and innovative companies from other parts of Romania, as well as from Central and South-Eastern Europe, that are looking to use Romania and the North-West Region as a base for developing and expanding their operations. 

In addition to its venture capital investments, Nucleo Ventures will provide a dedicated EUR 1.7 million grant facility designed to support the validation of early-stage ideas and technologies. The grant component aims to help entrepreneurs during the pre-seed phase by enabling product testing, business model validation, and risk reduction associated with market entry.

“Romania and Central and Eastern Europe have exceptional technical talent, yet many founders continue to face a shortage of the early-stage capital needed to grow their businesses. Through this fund, we aim to help bridge that gap and support the creation of companies capable of competing globally,” said Valentin Filip, Managing Partner at Nucleo Ventures.

Beyond financing, portfolio companies will gain access to mentoring, recruitment support, commercial strategy development, international expansion expertise, preparation for future fundraising rounds, and connections to strategic partners. To support these goals, Nucleo Ventures is building a regional collaboration network together with organizations such as Rubik Hub, Make IT in Oradea, LevelUP, and other key ecosystem players. These partners will contribute through startup sourcing, acceleration programs, mentoring, entrepreneurial skills development, and connecting founders with business communities and growth opportunities.

radu@romania-insider.com

(Photo source: press release)