About us
Eleven Capital’s team is among the pioneers in venture capital investing in Eastern Europe.
About the company
Eleven Capital AD was established in early 2019 with a capital of BGN 10 million and by the middle of the year bought shares in over 30 leading startup companies from Bulgaria and the region through the acquisition of Eleven Fund Cooperatief U.A. and its portfolio invested between 2012 and 2015.
The Eleven Capital team started working in 2012 with a funding instrument for startups at the earliest stage of their development (Eleven) with a very selective program (3.6% of over 3,000 projects) and a focus on companies that are in the initial stages of launching products and services. The company’s current focus is on scaling the successful companies, which have managed to grow the most during these years.
The portfolio of Eleven Capital AD consists of minority stakes in 34 core companies purchased for €4.1 million and total sales of €14.4 million in 2019.
Shareholding Structure
Take a look at the chart and learn about Eleven Capital’s shareholding structure.
Shareholding Structure
Take a look at the chart and learn about Eleven Capital’s shareholding structure.
Daniel Tomov
Representative of the Executive Director of the Company
Daniel Tomov is one of the pioneers in the venture capital industry in Bulgaria, having been a partner in BulVentures since 2000, the first small investment company of its kind in the country. Later, he worked as an investment manager in the investment company Global Finance together with Ivaylo Simov. After 2006, Daniel gained entrepreneurial experience in BulVentures’ investments and since 2010 as founder of Quantum Solar, a photovoltaic project company, which he sold in 2012. In 2012, he co-founded the venture capital fund Eleven Ventures, which he is still growing today.
Valeri Petrov
Chairman of the board of directors
Valeri Petrov is among the founders of the private equity industry in the region, with experience in Global Finance, Bancroft Private Equity, Axxess Capital. Over the years at these companies, Valeri has participated in 19 investments for close to €200 million and already has 7 equity sales for over €80 million. Previously, he was the Commercial Director at Royal Dutch Shell and subsequently CEO of Orgachim AD, turning the company into a leader in the local market. In recent years, Valeri has substantial experience with mergers and acquisitions (M&A) deals in the region.
Georgi Tsvetkov
Independent member of the Board of Directors
Georgi Tsvetkov has many years of experience as a member of management bodies of commercial companies. He is a partner at the law firm “Dzhingov, Guginsky, Kyuchukov and Velichkov,” where he is involved in the management of the banking law and restructuring practices.