Austrian Elevator Ventures announced the launch of EV II, a €70 million venture capital fund to support startups that are developing their solutions in the fields of fintech and beyond banking. The fund was backed by RBI (Raiffeisen Bank International), Raiffeisen-Holding Niederösterreich-Wien, and Raiffeisen-Landesbank Steiermark.
- Established in 2018 by Hannes Cizek and Maximilian Schausberger, Elevator Ventures manages venture capital investments for Raiffeisen Bank International. It was set up to back fintech startups and projects with related solutions in Series A.
- Apart from Series A investments, the current fund will also support startups during Series B rounds with initial ticket size ranging between €1 to 3 million, particularly in the DACH (Germany, Austria, Switzerland) and CEE regions.
- Elevator Ventures has already invested in 15 companies over the last few years, including investment banking platform vestr, e-signature & identification solution Autenti, and regtech Kompany.
- Elevator Ventures is also acting as a fund of funds. Previously, it supported Fintech Growth Fund Europe (FGFE) managed by Speedinvest. Additionally, to continue its cooperation, Elevator Ventures invested in Speedinvest IV, together with Raiffeisen-Landesbank Steiermark and Raiffeisenlandesbank Oberösterreich in 2023.
- The LPs include Raiffeisen Bank International, a universal bank operating in 12 Central and Eastern European markets, offering corporate and investment banking services, Raiffeisen-Holding Niederösterreich-Wien and Raiffeisen-Landesbank Steiermark also joined the fund as LPs.
“The partnership with Elevator Ventures and the investment in EV II demonstrate our commitment to promoting entrepreneurship and positive change in our region,” CEO of Raiffeisen-Landesbank Steiermark, Martin Schaller, commented.
