Vest Ventures, the first venture capital investment fund in western Romania, was officially launched on February 4 with a total budget of EUR 16.6 million, marking the start of a long-term program aimed at supporting innovative entrepreneurship and startups with regional growth potential. It is co-financed by European funds.

The fund was unveiled during the Romanian Startup Summit in Timișoara and is co-financed through the West Regional Development Agency under the Regional West Program 2021–2027, alongside private investment.

Vest Ventures is managed by a consortium made up of Startup Wise Guys, Cowork Timișoara, Growceanu, and Iceberg Plus, which will focus on investments and the development of entrepreneurial ecosystems across the region.

“Vest Ventures represents a strategic step for the economic future of the West Region of Romania. We want entrepreneurs with brave and innovative ideas to find real support here and to transform these ideas into scalable, competitive businesses at a European level,” said Sorin Maxim, general manager of the West Regional Development Agency.

He noted that the fund is designed to go beyond traditional grants by offering startups access to capital, mentoring, investor networks, and an innovation-oriented ecosystem.

Through Vest Ventures, selected entrepreneurs will have access to funding and an acceleration program, which includes personalized mentoring provided by experienced entrepreneurs and investors, applied workshops covering the entire journey from idea to product, customers, sales, and investments, as well as access to relevant networks of investors, customers, and partners. The program also provides workspaces, along with essential support services for the development of startups.

“The western Region, with Timisoara at the forefront, has the potential to become one of the strongest technology and innovation hubs in Central and Eastern Europe. We have talent, solid universities, courageous entrepreneurs, and a culture of collaboration,” stated Ciprian Man, general partner of Vest Ventures.

Vest Ventures will run four acceleration cohorts, with the first starting on March 27, alongside nine regional pre-acceleration cohorts focused on entrepreneurial education and minimum viable product development. 

Around EUR 6 million of the total budget is earmarked for direct investments in pre-seed startups, supporting product validation, team building, and early growth.

The Vest Ventures consortium is made up of four recognized leaders in the European entrepreneurial ecosystem, namely Cristobal Alonso - general partner, Ciprian Man - general partner, Razvan Suta - managing director, and Andrei Munteanu - programs managing director.

irina.marica@romania-insider.com

(Photo source: press release)