New €34M Nucleo Ventures fund targets startups and SMEs across Central and Eastern Europe

Fortech Ventures announces the launch of a €34 million investment fund and its transition to a new public identity, Nucleo Ventures.

Developed in partnership with the North-West Regional Development Agency (ADR Nord-Vest), the fund will invest in startups and innovative companies across Romania and Central and Eastern Europe, with the goal of supporting a new generation of internationally scalable businesses and strengthening Romania’s North-West Region as a destination for entrepreneurs, investment, and technology talent.

The fund, which benefits from a €23.5 million institutional commitment from ADR Nord-Vest, complemented by private capital and contributions from the management team, will support startups and innovative companies at various stages of development, from early-stage ventures to SMEs with international scaling potential.

Through its investment strategy, Nucleo Ventures aims to finance 46 companies over the next four years, contributing to the development of a new generation of businesses built in Romania for global markets.

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 recognised for its thriving IT sector and its ability to generate companies with international growth potential.

In addition to supporting local businesses, the fund aims to attract entrepreneurs, startups, and innovative companies from other parts of Romania and 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 €1.7 million grant facility designed to support the validation of early-stage ideas and technologies.

According to Valentin Filip, Managing Partner at Nucleo Ventures, 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.

We want the North-West Region to become a natural destination for entrepreneurs seeking access to funding, talent, and growth opportunities in international markets.”

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 organisations such as Rubik Hub, Make IT in Oradea, LevelUP, and other key ecosystem players.