With events like Cyprus 4.0, we cannot ignore the amazing growth and advancements in Cyprus's startup ecosystem. Similarly, thanks to its fantastic location, the country is home to many different kinds of startups. From fintech to health sciences, many new ideas are being introduced, and problems are being solved!

But are there any venture capital firms that can support the growth of a newly established startup?

Yes! Cyprus has many notable venture capital firms that invest their time and money into deserving ventures. So here is the list of the top 6 VC firms in Cyprus.

Top 6 Venture Capital Firms in Cyprus

“During the pitch deck, explain how your startup can generate profits, what’s the future growth potential, and why it is worth investing in.”

Onto the list of venture capital firms now!

The Games Fund

Website: The Games Fund

Investor Type: Venture Capital Firm

Investment Interests: Gaming

Investment Stage: Seed

The Games Fund is one of Cyprus's most well-known venture capital firms. The network was founded in 2020 and is led by Maria Kochmola and Ilya Eremeev. 

This VC firm focuses on startups that are related to the gaming sector and provide unique services. Startups must be led by individuals who have in-depth knowledge of the gaming sector and can generate 3-4x ROI within 2 years.

Aside from investment activities, TGF is also known for its active involvement in the growth stages of a startup. They are headquartered in New York but also have officers in Paphos, Cyprus.

The investment range of The Games Fund lies between $2 million to $5 million. Some of their portfolio companies are:

Roar Games: Roar Games is an innovative game development studio that specializes in creating captivating and immersive gaming experiences. Their recent project, L.3.3.T., aims to deliver an exciting game experience to players. The Games Fund invested $1.5 million in their venture.

Order of Meta: Order of Meta is a game development team passionate about creating exceptional gaming content. The team focuses on creating games in various sectors and bringing something new to gaming. TGF invested a substantial $3.3 million during a seed round.

RTP Global

Website: Home - RTP Global

Investor Type: Venture Capital Firm

Investment Interests: Tech, Supply, and Consumer Products

Investment Stage: Seed

RTP Global is a name known worldwide for its amazing investment services. The network has been investing in hundreds of tech-related startups and has more than 10 startups in its portfolio that have already achieved unicorn status.

Speaking about their investment interests, RTP Global invests in Asia, Europe, and the US. The network of investors focuses on startups that can easily become multi-billion dollar companies in their respective fields once they are provided with the investment.

Similarly, RTP Global goes one step beyond and provides its portfolio companies with some of the best mentoring assistance. From the early stages to the struggle when things don't turn out in your favor, the mentors are well-experienced in guiding portfolio companies.

The investment range of RTP Global is around $5M for startups based in Cyprus. Some of their famous investments are:

Datadog: Datadog is a cloud monitoring service platform that provides insights into applications, infrastructure, and security. It allows organizations to monitor and analyze data from servers, databases, applications, tools, and services. Datadog has secured a total of $147 million in funding. 

Delivery Hero: Delivery Hero is the world’s leading local delivery platform. Their ecosystem includes food delivery, quick commerce, and other services. It has raised a total of $9.9 billion in funding over 21 rounds.

CRED: CRED is an Indian fintech startup that incentivizes individuals to improve their credit scores by paying credit card bills on time. The startup raised a total of $801.5 million in funding over 9 rounds.

Flyer one Ventures

Website: Flyer One Ventures

Investor Type: Venture Capital Firm

Investment Interests: Tech and Food

Investment Stage: Early and Seed

Flyer One Ventures is a notable VC firm that invests in startups all across Europe. It was founded by a group of entrepreneurs and has invested in many startups over the past decade. 

During the screening tests, Flyer One Ventures focuses on startups that are working on future tech and will thrive once provided with the investment. The investors put a lot of effort into understanding the growth potential and only invest in startups that can grow 2-3x.

The investment range of Flyer One Ventures lies between $100,000 to $1M. Some of their portfolio companies are:

Adapty: Adapty is an analytics-driven platform for the subscription economy. They help companies optimize in-app subscriptions, conduct A/B tests for paywalls, and enhance user experiences. Adapty has raised a total of $2.5 million across two rounds. 

Awesomic: Awesomic connects businesses with proven designers, providing design results within 24 hours. 

Allset: Allset is a food ordering platform that offers cost-effective solutions to both restaurants and consumers. It provides online ordering and contactless dining solutions, ensuring fast, easy, and healthy dining experiences. The startup has raised a total of $16.6 million. 

GEM Capital

Website: GEM Capital

Investor Type: Venture Capital Firm

Investment Interests: Games

Investment Stage: Seed

Founded in 2017, GEM Capital is one of the world’s most active investors in games and funds startup startups at the early stage. The firm is located in Dubai and Paphos, investing in deserving startups that can grow significantly.

Like most firms, GEM Capital also looks for businesses that have scalable models and can generate decent revenue. The investors also focus on startups that are stepping up with modern tech and have low competition.

After investing, the firm helps its portfolio companies by providing them access to their mentorship panel, startup workshops, and many other growth events. The investment range of GEM Capital ranges from $1M to $2M. Some of their portfolio companies are:

Mundfish: Mundfish is a game studio known for developing Atomic Heart, an action RPG set in an alternate universe during the height of the Soviet Union. The game features bizarre creatures, advanced technology, and intense combat.

Owlcat Games: Owlcat Games creates RPGs with rich storytelling and complex mechanics. Pathfinder: Wrath of the Righteous is an epic fantasy RPG based on the popular Pathfinder tabletop game.

Weappy (This is the Police): Weappy is a game development studio. This is the Police is a strategy/adventure game where players take on the role of a police chief managing a city’s law enforcement.

OpenFund

Website: Fund your next big idea (Powered by DeSo Blockchain) | Openfund

Investor Type: Venture Capital Firm

Investment Interests: Software

Investment Stage: Early and Seed

Funding startups since 2009, OpenFund is also a noteworthy venture capital that invests in Cyprus-based startups. The firm mainly invests in software, mobile, and innovative tech sectors where there is a huge chance of growth.

Similarly, the investors follow a very focused approach and invest in startups that seem promising to them, growth-wise. Startups first apply online and upon their selection, they are contacted by the team to appear for meetings and pitching competitions.

Aside from investment activities, OpenFund also arranges many accelerator programs, workshops, and growth events to boost the startup landscape. However, these events are quite limited in Cyprus as their main target market is Greece.

The investment range of OpenFund is around $2M. Some of their portfolio companies are:

Forky: Forky is a subscription-based meal kit delivery service. They provide pre-portioned ingredients and recipes for cooking at home.

Smartbox: Smartbox offers experience gifts, such as spa days, gourmet dining, and adventure activities. Customers purchase gift boxes with a variety of experiences.

VP Capital

Website: VP Capital | Driven by impact

Investor Type: Venture Capital Firm

Investment Interests: Tech

Investment Stage: Seed

VP Capital was founded by Viktor Prokopenya in 2012. As a VC Firm that invests in many countries across Europe, VP Capital has divided its investment into mid and small-sized funds to help more startups.

The VC firm focuses on machine learning tech-based companies and AI-related businesses that have huge growth potential. They also ensure that the startups they invest in can generate maximum profits by guiding them through different stages.

The investment range of VP Capital can range up to $10M. Notable portfolio companies include:

Aquaporin: Aquaporin is a water tech company that offers water treatment through bioengineering. Aquaporin has raised a total of $8.3M in funding over 2 rounds.

Accsys Technologies: Accsys Technologies is a manufacturer of modified wood products used in the construction and timber industries. They are known for their production and technology licensing of Accoya® wood and Tricoya® wood elements. The company has raised $52.1M in funding.

Wrap-Up

In conclusion, Cyprus has many well-known venture capital firms that invest in deserving startups. You need to do your side of the homework and conduct strong research on VC firms before pitching to them.

Good Luck!

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