Vienna-based Speedinvest Closes $10m Fund For Central Europe

Slowly, but surely, Vienna is building its own reputation as a startup hotspot and eventually there might be a fight between Berlin, London, Copenhagen and Vienna, although London and Berlin are ahead at the moment. There have been a number of large exits driven by Austrian-born founders (exits from UCP, Jahjah, 3united and exceed 1 billion USD). Companies such as Wikitude, Runtastic and Lookk. However the growing startup community, especially with founders emerging from Central and Eastern Europe (CEE) countries, faces a lack of adequate investors. Now Speedinvest, an early stage Super Angel fund, has just announced that they’ve closed their first $10 million dollar fund targeted towards early stage mobile and web startups coming out of CEE.