Forty.5 Ventures has closed a $30 million (about €26 million) venture fund focused on early-stage companies in Southeast Europe, creating an additional institutional funding channel for technology startups seeking to expand internationally. The investment firm, which operates from Belgrade, Los Angeles and Singapore, will primarily invest at the pre-seed and seed stages, while retaining the option to make selective investments in the United States and Asia-Pacific. Initial investments will range from $200,000 to $1 million, or approximately €173,000 to €867,000, with Forty.5 seeking to lead or co-lead financing rounds.
Fund targets technology and digital sectors
The fund will invest across vertical AI, fintech and cybersecurity, as well as gaming, sports, media, entertainment and creator-economy infrastructure. Forty.5 said its investors include family offices, angel investors, entrepreneurs and business operators from Europe, the United States and Asia-Pacific.
The firm operates through F5V Build, its venture-building platform, and F5V Capital, its investment arm. The structure allows Forty.5 to work with companies from product development through institutional seed financing. Its three-office network is also intended to connect Southeast European founders with customers, investors and business partners in the United States and Asia.
Serbia gains another early-stage funding option
The fund adds a new financing source for Serbian startups seeking institutional capital after developing their products. Forty.5’s ability to provide initial investments of up to $1 million places it at a stage where companies are moving from product development toward commercially scalable operations.
The investment strategy also places significant emphasis on artificial intelligence, fintech and cybersecurity, sectors in which relatively small teams can develop products for international markets. Vertical AI, focused on applications for specific industries and business processes, represents a particular area of interest for the fund.
Follow-on financing planned
Forty.5 is also preparing a second investment vehicle focused on follow-on financing and Series A rounds. The additional vehicle is intended to address funding needs that emerge after the initial seed stage, when startups require larger amounts of capital for international sales, recruitment and market expansion.
The first fund will invest across Southeast Europe, rather than focusing exclusively on Serbia. Its investment activity will therefore extend across the region’s early-stage technology market. For Serbian companies, the fund provides another potential source of institutional capital between initial product development and larger international financing rounds.
