Fortech Investments announces significant investments in 2023 in the markets of Western Europe and the USA
Fortech Investments, the Romanian investment fund, aims for accelerated activity growth in 2023 in the markets of Western Europe and the USA with a new focus on energy startups.
At the end of last year, Fortech was acquired by Global Logic. Fortech Investments transformed from a CVC (Corporate Venture Capital) fund to an independent fund, remaining a strategic investor with technical skills and 100% Romanian private capital.
In 2022, the company invested approximately 2 million euros in the strategic expansion of the startup network to develop the health sector, manufacturing, fintech, real estate and the automotive industry. In addition to the existing startups in the portfolio (Licenseware, NRGI.ai, KFactory, Telios, as well as UpLyft from the USA), Fortech Investments continued to invest in startups from these industries, but also in related ones, such as SaaS-type solutions that help sellers selling across multiple marketplaces, end-to-end solutions for digital leasing and commercial real estate, a startup automating fault analysis for power lines, and scale-ups introducing artificial intelligence into medical analytics.
In addition, a new focus for the company is the energy field, which already has in its portfolio the Pre-Seed round of the partner start-up NRGI.ai, which has developed a platform based on artificial intelligence that predicts energy prices.
“We’ve raised the bar and are looking more closely at late-seed companies, but we continue to make pre-seed investments so that entrepreneurs get the resources and space necessary to take their startups to the level they want. In parallel, we continue to offer smart money and technology for equity solutions, and the development area is covered by the group’s new division, Fortech Products”. stated Valentin Filip, Managing Partner, Fortech Investments.
The company will then run programs and investments of the Joint Venture type, intended for companies established in the market looking for a technical partner to build innovative solutions in their field.
For 2023, the company already has three investments underway, and wants to balance the portfolio with pre-seed rounds (80,000 – 150,000) and invest further in larger late-seed rounds (300,000-400,000). Fortech Investments also aims to expand its portfolio to the rest of Europe and the USA. Thus helping the founders with capital and smart money, technology for equity capital, networks and a knowledge base that will facilitate the expansion of these companies where Fortech Investments has a solid background and expertise.
“It is an important step and we are happy to see that many European and American startups are open to funding from Romanian funds. We have a new opportunity to be aware of what is happening in the world and at the same time see how the Romanian market is also developing, so we want to help those who want to develop a solution as well as those who have identified a problem that needs to be solved “concludes Valentin Filip.
