The CEE VC Summit returned to Warsaw in the last week of March, hosting over 250 venture capital fund managers from across Europe and beyond. Organized by Vestbee, the two-day, invitation-only event confirmed its status as the region’s flagship VC gathering. It brought together VC investors, LPs, and ecosystem leaders to collaborate, exchange insights, and shape the next chapter of venture capital in Central and Eastern Europe.
Data-driven kickoff
The summit opened with a keynote from Ewa Chronowska, CEO of Vestbee and General Partner at Next Road Ventures, followed by the release of Dealroom’s latest CEE Startups 2025 report. The data confirms CEE as one of Europe’s fastest-growing startup hubs, with over 3,800 startups and 275 scaleups. Yet scaling remains challenging, noted Louis Geoffroy-Terryn, Head of Research Ops at Dealroom. Limited late-stage funding and uneven development, especially in deeptech, could hinder the region’s next growth phase. Still, early-stage funding is rising, LP interest is growing, and sectors like AI, fintech, and energy remain strong.
Check out more key findings from the report here.
This context set the tone for the day’s first panel, which featured voices from PFR Ventures, Cogito Capital Partners, OTB Ventures, and SHAPE Capital Partners. Together, they explored whether CEE is ready to move beyond its “emerging” label and what structural shifts are still needed to unlock its potential fully.
Scaling challenges and unicorn ambitions
Throughout the day, the conversations dug into the gaps and opportunities defining the region’s next stage of development. In a panel on growth capital and startup survival, investors from Forestay VC, Earlybird, 3VC, Molten Ventures, and Flashpoint VC reflected on the barriers that still stand in the way of CEE startups scaling and achieving substantial growth.
Meanwhile, the Unicorn Makers session brought together investors from 500 Global, Plural, Credo Ventures, and Startup Wise Guys to discuss what it takes to back startups with global potential. Panelists shared their views on what sets billion-dollar companies apart — and how more of them can emerge from CEE.
While there’s no universal formula, speakers emphasized traits like founder resilience, intellectual humility, and mission-driven focus as key signals early on. A shift in mindset — from local to global from day one — is crucial for building unicorns in CEE, as all of them agreed.
Estonia was held up as a case study, where smart visa policies, low bureaucracy, and early success stories like Skype helped build a self-sustaining ecosystem. But panelists warned that single breakout companies aren't enough — broader entrepreneurial culture, inclusive hiring, and founder-led ambition are what fuel lasting impact.
Global voices and personal perspectives
The summit also featured engaging fireside chats. One highlight was the conversation between Chris Wade, co-founder of Isomer Capital, and Marcin Laczynski, Head of Investments at Vestbee. They reflected on what makes emerging VC managers successful — and why “small is beautiful” when it comes to fund size. Wade underscored the enduring value of early-stage specialist funds, especially those with a clear, focused thesis:
“There is a value in a small fund with a precisely defined skillset within its management team. You are not a generalist — you need to deeply understand the technology, how it works, and clearly identify its competitive advantages,” he said.
In another fireside chat, Pawel Chudzinski, Partner at Point Nine, joined Ewa Chronowska to reflect on building resilient VC platforms. Together, they shared lessons from investing in standout companies amid shifting market conditions.
Day II: deeptech, dual-use, and flipping to the US
Day two of the summit explored emerging verticals and shifting investment strategies. A panel on defence and dual-use tech — moderated by PFR Ventures — featured voices from the NATO Innovation Fund, Sunfish Partners, Keen Venture Partners, and Balnord.
The discussion touched on the war in Ukraine, regulatory fragmentation in Europe, and political uncertainty, all of which hinder scaling innovation at the pace needed. Deeptech was yet another focus, where panelists from Heal Capital, OTB, Radix Ventures, FIRSTPICK, and 360 Capital emphasized that building in deeptech is a long game, not a trend.
While AI dominates headlines, investors stressed the importance of vertical, defensible applications over generic tools. They called for founders to think bigger, aiming for 10x outcomes with clear business plans, and underlined that ambition, not just technology, is what earns conviction.
Other panels explored key topics such as exit strategies, the growing role of debt funding, and the trend of flipping to the US. In a discussion on exits and liquidity, investors from VentureFriends, Siena Secondary Fund, Senovo, Elevator Ventures, and Willgrow shared insights on the challenges faced by VC-backed companies and LPs alike.
They agreed that exit opportunities remain limited, with M&A seen as the most viable option in the near term. Panelists emphasized the importance of maintaining industry-standard deal terms to maximize exit value. The secondary market was described as a “tale of two markets” — high-demand premium deals on one side (like Vinted) and illiquid or overlooked assets on the other. There was also growing momentum around startup-on-startup M&A as a consolidation strategy, although many such deals fail to deliver significant outcomes. Looking ahead, LPs are increasingly considering secondary sales of fund stakes to manage liquidity pressures, but challenges like dry powder, deal size mismatches, and intense competition continue to limit access.
LP insights and collaboration across the table
CEE VC Summit also welcomed key regional LPs and fund-of-funds to discuss how they evaluate new managers and what they’re looking for in CEE. In the LP Lens session, speakers from EIF, AlphaQ, PFR Ventures, and Genesis emphasized the importance of track record, team dynamics, and local market knowledge when backing emerging managers.
Later in the day, a collaborative session featuring angel investors and VC fund managers explored how to work more effectively across investment stages to support startups. Speakers included representatives from DEPO Ventures, Vinci S.A., Vestbee, and prominent angel investors like Bartek Pucek and Pawel Maj.
Networking power at the summit
While the official program was packed with content, the true value of the summit emerged in the moments between sessions — during networking breaks, one-on-one meetings booked through the app, and casual conversations in the corridors, as well as at the lively Investors Dinner.
“My colleague recommended it last year, and it definitely lived up to expectations. The balance between LPs and GPs is strong and well-structured, with genuine interest in the region and no unnecessary hype. The networking is concentrated, allowing us to connect with the right people in a short amount of time. Events like this are crucial for exposing local players to international investors, facilitating meaningful relationships, and bringing in strong funds and LPs to help develop the ecosystem,” Jone Vaituleviciute, Managing Partner at FIRSTPICK, told us.
The message from Warsaw is clear: CEE, one of the fastest-growing regions in venture capital, is rapidly emerging as a powerful presence. Key ecosystem’s players are fully aware of the challenges and are actively working to close growth funding gaps while driving the landscape forward. The CEE VC Summit has become the platform for these crucial discussions.
With over 250 VC fund managers in attendance, the summit has firmly established itself as the region’s premier gathering, showcasing a vibrant, expanding ecosystem that’s impossible to ignore. It’s the go-to place to discuss trends, deals, and the future of venture capital in the region.
