In September 2022, Istanbul-based VC firm 500 Emerging Europe announced that it is raising a €70m fund to invest in startups from central and eastern Europe (CEE). The firm will invest up to €1m for 5-10% ownership stakes in very early-stage projects. It is also planning to open an office in one of the CEE countries in the upcoming months. 

The guiding idea behind the new fund is “the population paradox” — the phenomenon where countries of smaller population produce more unicorns. This is because startups can’t rely on their small local markets, but have to immediately sell globally. The fund will invest in startups from any sector, but the best founders tend to follow global trends, such as gaming or machine learning.