KAYA's €70M Fund: A New Dawn for CEE Startups
June 25, 2025, 3:37 pm
Location: Poland, Masovian Voivodeship, Warsaw
Employees: 51-200
Total raised: $22.47M
Location: United Kingdom, England, London
Employees: 1-10
Founded date: 2021
Total raised: $9.5M
In the heart of Central and Eastern Europe (CEE), a financial storm is brewing. KAYA, a Prague-based venture capital firm, has raised nearly €70 million for its fifth fund. This is not just a number; it’s a beacon of hope for startups across the region. With this fund, KAYA aims to support up to 25 early-stage companies, propelling them from the pre-seed stage to Series A. The firm’s vision is clear: to nurture the next wave of global leaders from CEE.
KAYA has a rich history. Founded in 2010, it has backed over 45 ventures, primarily in Czechia, Poland, and Slovakia. But now, the horizon is expanding. The firm is casting its net wider, eyeing opportunities in Hungary, Bulgaria, Croatia, and Slovenia. This shift reflects a growing trend among founders in the region. They are no longer content with local markets; they are dreaming big and thinking global.
The typical initial investment from KAYA ranges from €1 million to €3 million. For those companies that show promise, KAYA keeps a capital reserve for follow-on rounds. Through syndication with select investors, the firm can allocate up to €20 million to a single company. This flexibility is crucial. It allows KAYA to adapt to the needs of its portfolio companies as they grow.
The firm’s strategy is built on a foundation of experience. Over the last decade, KAYA has witnessed a surge in technology talent emerging from CEE. This talent has led to several global success stories, and KAYA has been a silent partner in many of them. The firm is not just looking for any startup; it seeks founders with big dreams and the courage to chase them. It wants to be their first partner, supporting them as they navigate the tumultuous waters of entrepreneurship.
KAYA’s portfolio boasts two unicorns: Rohlik, a Czech online grocery service, and Docplanner, a Polish healthtech platform. Both companies have disrupted their respective industries and are now recognized as leaders. There’s also Booksy, a beauty and wellness booking platform from Poland, which is on the cusp of unicorn status after surpassing €100 million in revenue. These success stories are not just numbers; they are proof of KAYA’s vision and commitment to nurturing talent.
The firm’s leadership is evolving too. Karel Zheng, a former startup founder, has been promoted to general partner. His fresh perspective is invaluable. He represents a new generation of entrepreneurs who have grown up in a digital world. Zheng’s insights into product, culture, and impact are essential as KAYA seeks to stay ahead of emerging trends. He believes that the combination of generational perspectives within the firm gives KAYA a competitive edge.
KAYA’s approach is not limited to financial backing. The firm actively uses technology to enhance its operations. Since 2018, it has been developing a data platform that monitors the global startup scene in real time. This platform helps capture early signals from promising companies, allowing KAYA to identify new opportunities before they become mainstream. It’s a proactive approach in a fast-paced environment.
The firm’s investor base is diverse, comprising Central European entrepreneurs, repeat founders, multinational funds, and regional banks. This mix of backers not only provides financial support but also enriches KAYA’s network. The firm’s connections extend to international investors, including heavyweights like Index Ventures and Goldman Sachs. This network is crucial for startups looking to scale globally.
KAYA’s philosophy is rooted in generalism. The firm does not specialize in a single industry. Instead, it seeks companies that are building for the future, whether in biotech, new materials, or healthcare. This broad focus allows KAYA to tap into various sectors and identify trends that others might overlook. The firm understands that innovation can come from unexpected places.
As KAYA launches its fifth fund, it is clear that the firm is well-positioned to capitalize on the burgeoning startup ecosystem in CEE. The life cycle of a VC fund typically spans over a decade, and KAYA’s first three funds have already delivered exceptional returns. With a stable investor base and increased interest in the new fund, KAYA is ready to make its mark.
The CEE region is on the brink of a transformation. Founders are no longer thinking small. They are aiming for the stars. KAYA is here to support them on that journey. With its new fund, the firm is not just investing in companies; it is investing in dreams. It is a commitment to the future, a promise to nurture the next generation of innovators.
In conclusion, KAYA’s €70 million fund is more than just capital. It’s a lifeline for ambitious founders in CEE. It’s a testament to the region’s growing potential. As KAYA continues to expand its reach and refine its strategy, the world will be watching. The next wave of global leaders is emerging, and KAYA is ready to ride the tide. The future is bright, and the journey has just begun.
KAYA has a rich history. Founded in 2010, it has backed over 45 ventures, primarily in Czechia, Poland, and Slovakia. But now, the horizon is expanding. The firm is casting its net wider, eyeing opportunities in Hungary, Bulgaria, Croatia, and Slovenia. This shift reflects a growing trend among founders in the region. They are no longer content with local markets; they are dreaming big and thinking global.
The typical initial investment from KAYA ranges from €1 million to €3 million. For those companies that show promise, KAYA keeps a capital reserve for follow-on rounds. Through syndication with select investors, the firm can allocate up to €20 million to a single company. This flexibility is crucial. It allows KAYA to adapt to the needs of its portfolio companies as they grow.
The firm’s strategy is built on a foundation of experience. Over the last decade, KAYA has witnessed a surge in technology talent emerging from CEE. This talent has led to several global success stories, and KAYA has been a silent partner in many of them. The firm is not just looking for any startup; it seeks founders with big dreams and the courage to chase them. It wants to be their first partner, supporting them as they navigate the tumultuous waters of entrepreneurship.
KAYA’s portfolio boasts two unicorns: Rohlik, a Czech online grocery service, and Docplanner, a Polish healthtech platform. Both companies have disrupted their respective industries and are now recognized as leaders. There’s also Booksy, a beauty and wellness booking platform from Poland, which is on the cusp of unicorn status after surpassing €100 million in revenue. These success stories are not just numbers; they are proof of KAYA’s vision and commitment to nurturing talent.
The firm’s leadership is evolving too. Karel Zheng, a former startup founder, has been promoted to general partner. His fresh perspective is invaluable. He represents a new generation of entrepreneurs who have grown up in a digital world. Zheng’s insights into product, culture, and impact are essential as KAYA seeks to stay ahead of emerging trends. He believes that the combination of generational perspectives within the firm gives KAYA a competitive edge.
KAYA’s approach is not limited to financial backing. The firm actively uses technology to enhance its operations. Since 2018, it has been developing a data platform that monitors the global startup scene in real time. This platform helps capture early signals from promising companies, allowing KAYA to identify new opportunities before they become mainstream. It’s a proactive approach in a fast-paced environment.
The firm’s investor base is diverse, comprising Central European entrepreneurs, repeat founders, multinational funds, and regional banks. This mix of backers not only provides financial support but also enriches KAYA’s network. The firm’s connections extend to international investors, including heavyweights like Index Ventures and Goldman Sachs. This network is crucial for startups looking to scale globally.
KAYA’s philosophy is rooted in generalism. The firm does not specialize in a single industry. Instead, it seeks companies that are building for the future, whether in biotech, new materials, or healthcare. This broad focus allows KAYA to tap into various sectors and identify trends that others might overlook. The firm understands that innovation can come from unexpected places.
As KAYA launches its fifth fund, it is clear that the firm is well-positioned to capitalize on the burgeoning startup ecosystem in CEE. The life cycle of a VC fund typically spans over a decade, and KAYA’s first three funds have already delivered exceptional returns. With a stable investor base and increased interest in the new fund, KAYA is ready to make its mark.
The CEE region is on the brink of a transformation. Founders are no longer thinking small. They are aiming for the stars. KAYA is here to support them on that journey. With its new fund, the firm is not just investing in companies; it is investing in dreams. It is a commitment to the future, a promise to nurture the next generation of innovators.
In conclusion, KAYA’s €70 million fund is more than just capital. It’s a lifeline for ambitious founders in CEE. It’s a testament to the region’s growing potential. As KAYA continues to expand its reach and refine its strategy, the world will be watching. The next wave of global leaders is emerging, and KAYA is ready to ride the tide. The future is bright, and the journey has just begun.