Underline Ventures has finalised the closing of their first fund at $20m. The fund’s focus remains the same - backing at the earliest stages Eastern European founders building high-growth startups with global ambitions. Underline Ventures will continue to leverage its network and develop its platform services to further support its portfolio companies' development.

“We are lucky to partner with investors who have a deep conviction that Eastern European founders can build significant technology businesses, despite the current macro environment. We know founders fundraising in this climate have to show a lot of resilience - it’s a good way to start.”, says the General Partner of Underline Ventures, Bogdan Iordache. 

The fund’s capital has been raised mostly from tech founders and operators, along with other business leaders and international fund-of-funds. It plans to double down its efforts to develop an impactful platform for its portfolio companies.