New €70M VC fund revealed by Elevator Ventures in Austria

Elevator Ventures Launches €70 Million VC Fund to Invest in Series A and B Companies

Austrian firm Elevator Ventures has announced the launch of EV II, a €70 million venture capital fund aimed at investing in innovative Series A and B companies. Founded in 2018, Elevator Ventures is focused on bridging financing gaps and fostering innovation in the startup ecosystem, particularly in fintech and Beyond Banking. Beyond Banking is a platform-based approach where financial services are provided through an ecosystem of service providers in areas like mobility, energy, and agriculture.

The fund has secured participation from RBI, Raiffeisen-Holding Niederösterreich-Wien, and Raiffeisen-Landesbank Steiermark. Elevator Ventures has already invested in a portfolio of 15 companies, including in sectors such as investment banking, e-signature & identification, and RegTech. The firm has celebrated successful exits with FinCompare, Kompany, and Twisto.

In addition to its direct investments, Elevator Ventures has also invested in the Fintech Growth Fund Europe managed by Speedinvest. This fund’s portfolio includes companies like Bitpanda, Wayflyer, and Moove. Raiffeisenlandesbank Niederösterreich-Wien is the first bank to use Bitpanda’s Crypto as a Service platform to offer crypto trading services to its clients.

The firm believes in the potential of the tech ecosystem in Austria and Central and Eastern Europe, noting the region’s emergence as a fast-growing startup ecosystem with talented founders. Elevator Ventures sees corporate involvement as crucial in financing the growth phase of startup development and is committed to promoting innovation in the region.

With the launch of EV II, Elevator Ventures aims to continue supporting cutting-edge startups and driving growth in the European tech ecosystem.