Startup Wise Guys, a VC and accelerator company, has raised the first EUR25 million (US$26.7 million) of EUR45 million (US$48 million).
This money will be used to support the company’s new strategy, which is centered on global markets that are still underserved by capital investment.
Startup Wise Guys, an organization that was founded in Tallinn, Estonia in 2012, also oversees cybersecurity programs out of Cosenza and SaaS accelerator programs out of Milan. The business has worked with more than 500 founders thus far, invested in more than 235 startups, witnessed five exits, and has a general startup survival and success rate of more than 77%.
In November of last year, nine startups were chosen to participate in the second edition of Disrupt Africa’s accelerator, which provides selected B2B SaaS startups with access to EUR65,000 (US$67,000) in funding as well as an intensive five months of mentorship. Disrupt Africa reported in 2021 that the company had expanded to Africa.
A partial closing of Startup Wise Guys’ EUR45 million (US$48 million) target has now been revealed, with a strategic focus on areas with the greatest capacity to absorb capital investment. After making 120 investments in 2022, it will use the capital to invest in a minimum of 200 businesses, primarily from Europe and Africa, in 2023 and 2024.
With investments in places like South Africa, Spain, and the Ukraine, Startup Wise Guys has become a truly global organization in recent years. The worldwide CEO of Startup Wise Guys, Cristobal Alonso, stated, “We are now applying our knowledge at scale to support committed founders grow globally, despite ambiguous economic situations.
“We are the early-stage investor prepared to support boldly ambitious digital businesses, especially during difficult times. We demonstrated this during COVID-19 and continued to be active even after the Ukrainian War began. We are steadfast in our resolve to assist business owners in transforming adversity into new opportunities and have a proven track record of assisting founders with a purpose in becoming global entrepreneurs.