ZIP, a startup program based in Croatia, has decided to dump the idea of raising a fund via Limited Partners and has turned instead to equity crowdfunding. And it’s poised to hit its target (here) of £50,000, raised through the UK-based Seedrs platform.
ZIP is co-founded by entrepreneurs and angels Ivo Spigel, Mihovil Barancic and Sasa Cvetojevic and Damir Sabol, who successfully exited Croatia’s first ISP.
They say they used the Seedrs platform because of its single nominee structure. Their campaign is the first start-up programme outside of the UK to raise investment through Seedrs, and may well be the harbinger of things to come.
Raising venture funds in Europe is notoriously difficult, so crowd equity could be a route for smaller accelerators and incubators.