Startup accelerator and early-stage investor Startup Wise Guys has closed the first €25 million of €45 million diversified funds that will be used across its various geographies and vertical-focused funds to support its new strategy focused on global markets that remain underserved by capital investment.
The new funds will allow Startup Wise Guys to intensify its investment and expansion in underfunded markets and expand its presence in Europe and Africa. The company says it will invest in a minimum of 200 startups from mostly across both regions in 2023-2024 after it made 120 investments in 2022.
Led by Cristobal Alonso, Global CEO, and based out of Europe, Startup Wise Guys is one of the most active accelerator funds in Europe and Africa, with 350+ investments in early-stage startups in B2B SaaS, Fintech, cybersecurity, XR, and sustainability in more than 60 countries.
In 2022, the firm executed 120 early-stage investments, managed 12 full-time programs, and introduced its first B2B digital SaaS program exclusively for African startups. They also launched an accelerator program focused on XR in Malaga, Spain. As of the end of January this year, Startup Wise Guys had already made 12 investments.
The Startup Wise Guys portfolio boasts startups such as Ready Player Me, Kevin., StepShot, and Ondato. A number of globally renowned investors have joined its portfolio investments, including A16Z, Accel, Lead ventures, Northzone and AV8.
It says it will not only prioritize acceleration investments and follow-ons but also a direct investment into growth-stage companies. Notable past direct investments include mobility unicorn Bolt, car subscription service Planet42, and Katana, a manufacturer's ERP solution.