Image: Zaka VC
After spending years privately investing into early-stage start-ups, Zaka has launched a VC fund with a first closing of €10.5m and is focused on B2B software, AI, biotech and health-tech.
Zaka VC has announced the launch of its first major investment fund to support early-stage start-ups in both the US and EU.
The VC firm said this fund has a goal of reaching €15m. It started this month with a first closing of €10.5m. Zaka said it previously focused on the central and eastern European market (CEE) but has expanded its presence over the years to the US and UK. It said the launch of this VC fund came from a “demand from external investors”.
Zaka VC was founded in 2020 by entrepreneurs Jan Kasper and Peter Zalesak. The business focused on investing private money into pre-seed and seed start-ups and claims to have invested more than €11m into 55 companies so far.
The firm has plans to fund the European diaspora in the US, US-based teams and CEE-based teams that wish to expand into the US.
“The trigger to create ZAKA was my daughter Valentina who has introduced me to the emerging start-up ecosystem,” Kasper said. “I recognised this opportunity as an exciting way to invest the capital we generated in our family businesses.
“I suggested this idea to my friend and fellow entrepreneur Peter who has always been a tech and innovation enthusiast.”
Zaka said its new VC fund will support pre-seed and seed funding rounds with a focus on start-ups developing B2B software, cross-sectional application of AI in B2B, biotech and health-tech.
“The US ecosystem remains in our interest and we plan to enhance our presence there,” Kasper said. “It produces highly competent and motivated founders and offers a huge market to conquer. This is why the investment returns are extremely compelling, despite higher valuations compared to the CEE region.”
Last week, VC firm 13books Capital – formerly known as Element Ventures – closed a £121m fund to support the next wave of fintech founders. But the global VC market has gone through a difficult period.
Venture capital funding into Irish start-ups and small businesses fell by nearly half in the first quarter of 2024 compared to the same period last year, according to a recent report by the Irish Venture Capital Association.
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