Central and Eastern Europe (CEE) has no shortage of strong engineering talent. What it has lacked, historically, is early-stage capital willing to take bold risks before traction shows up.
Credo Ventures is stepping in again to address that gap. The Prague-based VC firm has raised $88 million for its fifth fund, dubbed Credo Stage V, to back startups at the earliest stages across the region.
The fund is supported by a mix of international and regional investors. Backers include Adams Street Partners, RSJ, Sequoia Capital, Marktlink Capital, Isomer Capital, Emergence Ventures, Aspire11, Willgrow, and Spheres.
With the new fund, the firm plans to invest in pre-seed rounds, often before a product exists or revenue begins.
It will continue to support founders through their journey, from early experimentation to scaling and even an IPO. The strategy remains unchanged: invest before consensus and stay close as companies grow into category leaders.
A long-term bet on CEE talent
Founded in 2009 by Jan Habermann and Ondrej Bartoš, Credo has spent over 17 years building a track record in the region. It typically writes investments ranging between $1 million and $5 million and works closely with teams from the early stages.
The firm has backed more than 100 companies so far, including two decacorns. Its early conviction in CEE founders is now playing out as the region gains global recognition for producing high-impact startups.
Credo’s portfolio highlights reflect its early-stage focus. It was an early backer of ElevenLabs, the AI voice startup founded by Piotr Dąbkowski and Mati Staniszewski, which reached a multibillion-dollar valuation in under four years.
The firm also co-led early rounds in UiPath, the Romanian automation company that went public with a valuation of around $35 billion.
According to Credo, the region is now more active than ever. A growing number of founders are building globally competitive products, especially in AI and deep tech.
The firm believes CEE is no longer an underdog market but a proven hub for building large-scale technology companies.
