Startup Wise Guys, a VC and accelerator firm, has closed the first $26.7 million of the US$48 million that will be used to support its new strategy that focuses on international regions that are currently underserved by capital investment.
Startup Wise Guys is an organization that was started in Tallinn, Estonia in 2012. It also runs programs in Cosenza and Milan for cybersecurity and SaaS accelerators..
Startup Wise Guys has recently expanded to a global organization thanks to investments in nations like South Africa, Spain, and Ukraine.
“We are now using our knowledge at scale to help committed founders to develop globally, despite ambiguous economic conditions,” Startup Wise Guys’ global CEO Cristobal Alonso said.
So far, the company has worked with more than 500 founders, invested in more than 235 startups, seen five exits, and has a survival and success rate for startups as a whole of more than 77%.
We are the early-stage investor who is ready to back digital businesses with big goals, even when times are tough. We showed this during COVID-19, and we kept doing it even after the Ukrainian War started.
We have a track record of helping founders become successful global entrepreneurs, and we are committed to helping business owners turn problems into new opportunities,” Alonso said.
With the money, it would invest in at least 200 startups in 2023 and 2024, especially ones from Europe and Africa.