Zero One Hundred targets EUR 15m for new fund's first close

With EUR 10m already in commitments received from private investors, the fund is expected to hold the first close on EUR 15m against a target of EUR 60m to to be reached by the end of 2023, he said. The sponsor's previous fund, Zero Gravity Capital, is among the investors in the vehicle.

The second stage of the fundraising will largely target European institutional investors, corporations and sovereign wealth funds as well as private investors, Duffek said. The firm is also in talks with several institutional and private investors based in the Middle East and the US.

The fund's two-pronged approach to investments will see it deploy EUR 50m in direct investments in startups over the next four years and EUR 10m in around 10 funds of funds in the coming two years.

Investments
The new fund is expected to hold a portfolio of 30 direct investments, deploying an average EUR 1.5m ticket that could go up to EUR 3m. It targets startups carrying out seed, pre-Series A and Series A rounds, he said. While it will assess deals in 23 countries across emerging Europe, from the Baltics to Greece and Cyprus, the fund will largely focus on the Czech Republic, Slovakia, Poland, Estonia, Romania, Bulgaria, Serbia, Greece and Cyprus. The region has a combined population of 200m inhabitants, but its access to growth capital is significantly lower than markets such as Germany and the UK, he noted.

Its five focus sectors are fintech, mobility, healthtech, edtech and data, but it is also open to investments in other sectors opportunistically, Duffek said.

Some of the fund's investments will be into follow-on rounds for existing portfolio companies in the EUR 23m Zero Gravity Capital fund. The fund, which started deploying in 2020, has invested in 20 companies to date, Duffek said.

Zero One Hundred's ecosystem includes holding company 0100 Ventures, conference organisers 0100 Conferences and Vestberry, a Slovak company that has developed portfolio management software for PE and VC funds.

With a team of 10, Zero One Hundred has three partners: Vit Hanus, who has a background in consultancy and M&A advisory; Michal Csonga, with experience working with large corporates and exposure to cryptocurrency; and Duffek, a serial entrepreneur.

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