Growceanu, a Romanian business angel investment platform founded in 2018, announced an increase of more than 150% in investments made in 2022 compared to the previous year.

Also, the number of members on the platform has now reached 144, up over 300% compared to 2021.

In 2023, Growceanu said it aims to develop the business angels platform based on the current business model and expand its presence in new markets in Central and Eastern Europe (CEE). Thus, the target for the end of the year is to double the investments made compared to the previous year.

“In the context of concrete, well-funded plans from the Regional Development Agency but also from the government sector, Growceanu's founding members expect many more opportunities to start arising this year as a natural next step in the development of Romania’s startup ecosystem – a time of increasing levels of innovation and collaboration,” reads the press release.

Growceanu is mainly aimed at investors with a budget of EUR 40,000-250,000 over 2-3 years who want to build a portfolio of at least 8-10 startups. It brings together all the information a business angel needs, but startup founders also receive feedback from evaluators, followed, in happy cases, by smart money from successful investors, entrepreneurs or corporate managers.

“We are constantly looking for future fellow investors – successful entrepreneurs or corporate managers who want to diversify their investment portfolio towards this highly dynamic asset class (early stage startups) and who can offer, in addition to financial backing, their business experience, network and personal time to support future moonicorns,” said Ciprian Man, Growceanu co-founder.

The Growceanu platform mainly targets startups in the PropTech, EdTech, SmartCity, Enterprise, Marketplaces, FinTech and MedTech fields, based on approaches in technology areas (Artificial Intelligence, SaaS, Data Science, Digital Mapping, IoT).

irina.marica@romania-insider.com

(Photo source: Growceanu)