PFR Ventures invests in Movens Capital
Movens Capital has launched a €60 million multi-stage fund to invest in founders from Central and Eastern Europe. Fund 2 will provide first checks of €250,000 to €3 million for startups at pre-seed, seed, and Series A and Series A+ stages. The fund is backed by the European Bank for Reconstruction and Development (EBRD), PFR Ventures, and over 80 startup founders, tech operators and seasoned entrepreneurs with serious ambitions for the region. Movens’ team is composed of exited tech founders and experienced operators. The launch follows the success of Fund 1, which provided early backing to numerous breakout startups across the region and helped secure over €110 million in follow-on funding for its portfolio companies.
Despite steady increases in startup formation and ecosystem value, Central and Eastern Europe continues to face a sharp shortfall in venture funding. VC investment into the region fell by 23% in 2024, with the number of transactions dropping by over 70% since 2022, even as the number of startups and overall ecosystem value continued to grow (Dealroom, 2025).
The disparity between Western Europe and CEE is particularly stark at per capita VC investment levels, reaching €85 in the former and just €13 in the latter. Of the more than 26,000 CEE-based startups, fewer than 10% raise a VC round each year. Series A and growth-stage funding remain particularly scarce, forcing many founders to either relocate or stall. This structural funding gap continues to hold the region back and keep its vast potential untapped.
With Fund 2, Movens Capital aims to address the region’s funding gap by backing standout young firms across enterprise software, AI, climate tech, fintech, healthcare, e-commerce infrastructure, edtech and the future of work sectors. The fund will make around 30 investments across Central and Eastern Europe, including diaspora founders building globally. Movens plans to lead the majority of these rounds, which will be split between seed and Series A/growth investments.
This region never lacked talent. What’s missing is the capital and operational support needed to turn early traction into global growth. Movens Capital is the launch pad for ambitious CEE founders aiming for global leadership. As former tech entrepreneurs, we actively support portfolio companies with meaningful operational expertise and strategic guidance. Backed by a uniquely engaged community of top-tier tech executives and advisors, we leverage their deep industry experience and networks to help founders rapidly scale and achieve lasting success globally.
Following our support for Movens Fund 1 under the EU-funded program, we are pleased to continue our collaboration with Movens Fund 2 through our balance-sheet-financed fund of funds. Movens’ team has consistently demonstrated a high level of professionalism in both their investment processes and investor relations. We are confident that they will play an important role in addressing the financing gap for innovative startups across multiple stages.
We are delighted to back Movens’ new fund and help empower the next generation of tech founders in Central and Eastern Europe. Supporting the growth of the venture capital and private equity ecosystem is a key priority for the Bank in the region, and we are confident that this partnership will scale up new innovative and high-potential companies.
Alongside equity capital, the Movens team brings decades of experience as tech operators, including deep expertise in building AI and machine learning-driven businesses as well as designing pricing strategies. The team provides hands-on support across the investment lifecycle, helping startups build defensible products, attract talent, and prepare for follow-on rounds.
The firm’s portfolio includes Alokai (formerly Vue Storefront), Packhelp (exited), SKY ENGINE AI, Talkie.ai, Certifier, Trasti, Doctor.one, and Fenige (exited). Movens-backed companies have gone on to raise from globally leading VCs, close M&A deals, and scale internationally. The firm is ranked among the top funds in the region for founder satisfaction and follow-on success.
Movens is already actively investing capital from Fund 2, with the first wave of deal announcements expected this summer. It will continue to invest in sectors where the region’s founders are doing forward-thinking and industry-leading work, including AI-native infrastructure, embedded financial services, and climate resilience technologies.