Estonian-based venture capital and accelerator firm Startup Wise Guys have raised $26.7 million of the $48 million it aims to raise for its new strategy. The company's new focus will be on international regions currently underserved by capital investment.
Since its establishment in Tallinn in 2012, Startup Wise Guys has managed SaaS accelerator programs out of Milan, Italy, and cybersecurity programs from Cosenza. The firm has worked with over 500 founders and invested in more than 235 startups, five of which have exited. Its overall startup survival and success rate is above 77%, making it one of the most successful accelerators in the industry.
Startup Wise Guys’ global CEO, Cristobal Alonso, said, "We are now using our knowledge at scale to help committed founders develop globally, despite ambiguous economic conditions."
In recent years, Startup Wise Guys have expanded into a global organization, investing in nations such as South Africa, Spain, and Ukraine.
With the $26.7 million raised so far, the company plans to invest in at least 200 startups in 2023 and 2024, especially those from Europe and Africa.
"We are the early-stage investor ready to back digital businesses with big goals, even when times are tough. We showed this during COVID-19 and kept doing it even after the Ukrainian War started. "We have a track record of helping founders become successful global entrepreneurs, and we are committed to helping business owners turn problems into new opportunities," Alonso said.
The company’s investment strategy has proven successful in the past, with a number of startups in its portfolio seeing impressive returns. For example, Funderbeam, an Estonian-based crowdfunding and trading platform secured $4.5 million in funding from investors, including Startup Wise Guys. Similarly, HypeHash, a social media platform that allows users to tag their outfit and share it with others, raised €400,000 from investors, including Startup Wise Guys.
Startup Wise Guys’ new investment strategy will be a significant boost to startups in underserved regions, providing them with much-needed access to capital and support to help them grow and succeed in the global market.
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