Romania’s Underline Ventures Closes $20 Million Fund

Romanian Underline Ventures has closed their first fund at $20 million, tech-focused portal The Recursive reported.

The fund was raised fully with private money amid the investment slowdown,  and it has already finalized seven investments in Romania, Croatia, Serbia, and the broader Eastern European diaspora, The Recursive quoted Bogdan Iordache, General Partner at Underline Ventures.

The fund wants to invest in over 20 early-stage startups founded by Eastern European founders, with an average investment of $500,000, the Recursive added.