To support with CZK 300 million innovations that will ensure a sustainable future. This was promised four years ago by the Czech accelerator and venture capital company Soulmates Ventures. It has kept its promise and is now launching a new investment cohort for European startups. It will now invest €50 million (approximately CZK 1.25 billion) in sustainable innovation. Building on the proven strategy of the first cohort, it increases the initial investment to €3 million with the possibility of follow-on investments up to a total of €5 million. With this increase, it will also be able to actively support startups in later funding rounds. Soulmates Ventures won the Central European Startup Awards in the VC of the Year category in Central Europe last year, followed by the Global Startup Awards in the VC of the Year category in Istanbul and the prestigious World Future Awards in the Best Sustainability-Focused VC Ecosystem category in New York.
“Four years ago, my team and I made a commitment to invest CZK 300 million in innovative startups that deliver sustainable solutions. We focused on projects with a clear vision, a working product and first paying customers. We have repeatedly supported some of our portfolio startups with investments. The success of this commitment motivates us to continue to seek out breakthrough innovations that help solve the key challenges we face on this planet,” comments Hynek Sochor, Founder and Managing Partner of Soulmates Ventures.
A promise fulfilled for startups
Soulmates Ventures entered the venture capital field in 2020 with the goal of supporting startups focused on air, water, energy, mobility, circular economy, food and agriculture, education, and healthcare. In total, they have supported the growth of 17 European startups with 26 investments to date, with an average investment ticket of €700,000 (approximately CZK 17.5 million).
“Sustainability has been a core value for Soulmates Ventures since its founding. We aim to provide investors with a clear overview of how our projects contribute to addressing environmental and social challenges, including detailed information on their overall ESG impact. We are therefore developing our investment portfolio in line with the European Sustainable Funding Regulation (SFDR) and focusing on high-benefit projects to meet the demanding criteria of Article 9 of the SFDR,” explains Sochor.
Soulmates Ventures has come up with a plan for the next three years. Each year they want to support ten selected European startups through a new investment cohort, with each of these startups eligible to apply for up to five million euros (approximately 125 million CZK) in funding. This approach is designed to help startups continue to grow and expand, and to support them in follow-on investment rounds, including Series A. Soulmates Ventures wants to strengthen its position as a leader in sustainable investment in Europe.
“Many promising projects have already surpassed the seed stage we have been focusing on so far. Our goal is to help innovative and fast-growing companies grow and expand. When we see that their ‘rocket’ has already taken off and, thanks to a strong team and a great product, actually has a chance to go to space, we want to be the ones to give them the next fuel. We’ll help them accelerate their flight, overcome obstacles along the way and achieve even better results. At the same time, we’ll be evaluating our investment and pushing the boundaries of what’s possible together,” says Sochor.
Practical collaboration instead of mentoring
Soulmates Ventures help innovative companies not only financially but also professionally. In their accelerator program, they connect founders with their internal team and professionals from different sectors such as brand building, marketing, financial management, processes, sustainability or expansion into new markets. Precisely in view of the intensive individual collaboration, they focus on only ten startups each year. The accelerator also motivates the projects to meet the set goals, which enables them to achieve further follow-up investments from Soulmates Ventures.
“We know from our own experience that capital alone is not enough for a company to succeed – experience and practical support are also key. That’s why we offer startups not only funding, but also access to our network of experts and active collaboration to solve current challenges. Our acceleration is not just about mentoring – we actually work together with teams on specific problems to support their growth and development as much as possible. We believe this approach is what brings the best results,” concludes Sochor.
Soulmates Ventures has won several major awards in the past year for its efforts in promoting sustainable innovation. First, they were awarded VC of the Year in Central Europe at the Central European Startup Awards, followed by global recognition at the Global Startup Awards in Istanbul, where they were named VC of the Year. They capped off a successful year with the prestigious World Future Awards in New York, where they won the award for Best VC Ecosystem focused on sustainability.
About Soulmates Ventures
Soulmates Ventures is a Czech accelerator and venture capital company that seeks innovative and fast-growing European startups with a vision for long-term sustainable development. It provides funding and actively helps founders scale their business and successfully expand into new markets. The company was founded in 2020 by Hynek Sochor. The portfolio includes seventeen companies, including Fusebox, eAgronom, Kardi AI, Twinzo, Flowpay, Signapse, Ogre AI, Madmonq and Twin Science. Soulmates Ventures was awarded VC of the Year at the 2024 CESA Awards, subsequently winning the Global Startup Awards in the VC of the Year category in Istanbul and taking home the prestigious World Future Award in New York.
source in Czech: Soulmates Ventures, Husta Komunikejšn
