Romanian investment firm Fribourg Capital said on Monday it has launched Fribourg Digital, a 20 million euro ($22.3 million) investment fund which targets startups in the IT sector.
Depending on a startup’s developed stage, Fribourg Digital will invest from 20,000 euro to 250,000 euro in an initial financing stage, it said in a press release. If a project proves successful, Fribourg Digital is willing to further support the company.
“According to our observations, most startups fail not because of the idea or the product they designed, but because they do not manage to turn them into a viable business. Fribourg Digital wants to be a strategic investor, not only a financial one, with maximum involvement in the companies it finances,” Fribourg Capital managing partner Ion Sturza said.
Fribourg Capital is a private equity and venture capital fund headquartered in Bucharest which operates in Eastern Europe and CIS countries. Currently, the fund focuses on online companies and technology, with active investments in online retailer elefant.ro, in SEO and digital marketing services agency Upswing and in startup hub Liberty Technology Park in the city of Cluj, central-western Romania. ($=0.8937 euro)
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