Igniting the next wave of
Deeptech born in SEE

We believe that the SEE region and diaspora are a hotbed of outstanding talent
and tech founders aiming to build amazing global businesses

About ** 01 ** About ** 01 **

Who we are

We Lead your Seed rounds of €0.5m - €5m and we follow-on up to €12m or above.

We are comfortable with the Imperfection of startups. We invest early in brilliant people and products and care more about the potential of massive scale and less about minimizing risk in a company's early days. Our business is about maximizing upside, not protecting downside.

We invest in what we know and love: Deeptech and SaaS in B2B space.

We are former operators and entrepreneurs living and breathing the spirit we try to find in the entrepreneurial / management teams we invest in. We embrace change, take risks and trust our instincts, in line with the leadership qualities of our start-up founders.

€130m

Funds under management

85%

Portfolio companies raised follow-on rounds

Thesis ** 02 ** Thesis ** 02 **

Investing and supporting the most disruptive and bold innovations

Investment profile

Teams

Ambitious leaders, coachable, with complementary skills across team members.

Sector

Preference for Enterprise automation, Data / analytics, FinTech, CyberSec, Dev tools.

Deeptech

Tomorrow's reality with today's frontier technologies.

Traction

Showing early signs of traction.

Size potential

Large markets allowing for significant scale.

Global ambition

Clear strategy from Day 1 to win in US, UK or other large markets.

Investment in the SEE region and diaspora

Why ** 03 ** Why ** 03 **

We roll-up our sleeves and help entrepreneurs build top world class businesses with proven track record in doing so

Why us

Recruitment

Support in defining appropriate candidate profiles for Senior Executive positions.

Marketing

Support in formulating the USP and product market positioning.

Sales

Support in setting up the most appropriate commercial and sales channel strategy.

International

Support in expanding to international markets by offering best practice advice on setting up operations and sales tactics.

Financial planning and analysis

Support in setting up adequate financial control tools and KPI analysis best practices.

Governance

Support in setting up appropriate governance and process, procedure and tools (board structure and packs).

Financing rounds

Support in raising rounds beyond Seed / Series A with reputable international VC investors

Portfolio ** 04 ** Portfolio ** 04 **

Founded in South Eastern Europe. Global Ambitions. Scaled to US and UK.

Portfolio

Company

Sector

Last round

Year

0

companies

Team ** 05 ** Team ** 05 **

Hands On. Fast Start. Long term impact.

Our team

GapMinder team leverages decades of B2B, Deeptech and SaaS operating experience, helping our portfolio companies solve problems, build capabilities and avoid common pitfalls.

We aim to be the type of investor we would have dreamed to have in our previous lives.

Dan Mihaescu

Founding Partner

Member

Specialized in:

  • Seed and Series A

Focus on:

  • B2B
  • Automation
  • Enterprise Software / SaaS
  • Cybersecurity
  • Fintech
  • ML & AI

Read bio

Dan

Dan leads investments in B2B platforms enabled by Machine Learning, automation, AI, into cybersecurity, enterprise software / SaaS, automation, and fintech businesses.

Dan led GapMinder Fund I investments into FintechOS, TypingDNA, Cartloop, DruidAI, Cyscale and Outthink. He also serves as a sounding board for other partners into various investments of GapMinder.

Prior to GapMinder, Dan was with Microsoft, UPC / LGI, and GTS in various CxO roles. He is a well-known investor and a highly experienced former executive, having a deep and broad understanding of High Tech and its trends, with extensive experience in operating SMEs and large enterprises, as well as venture acceleration and M&A transactions.

Dan was born in Bucharest, Romania, and he is an INSEAD Alumnus and followed various VC & PE programs of EVCA and Harvard Business School.

Member of the Investment Committee

Sergiu Rosca

Founding Partner

Member

Specialized in:

  • Seed and Series A

Focus on:

  • B2B
  • AI
  • FinTech

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Sergiu

Sergiu led GapMinder’s Fund I investments in Xvision, Finqware, Beez, UndeLucram, and Aggero. Sergiu initiated and participated in various other transactions together with GapMinder partners.

Prior to GapMinder Sergiu was a serial entrepreneur and M&A lawyer. Previously Sergiu was an active investor and recognized business angel in the Romanian ecosystem with several board and/or advisory roles in early stage or growth companies.

He has a successful track record of more than 21 years as International / Romanian lawyer working for successful consultancy/ Law firms like PriceWaterhouseCoopers , Harmman, Hemelrath & Partner and Schoenherr. In this quality he performed numerous due diligence and advised on a large number of corporate matters in Romania and CEE.

Sergiu was born in Romania and is a well-known Investor with strong experience in company management and board activity, with strong M&A background and successful exits.

Member of the Investment Committee

Cosmin Ochisor

Partner

Member

Specialized in:

  • Seed and Series A

Focus on:

  • Platforms
  • Enterprise Software / SaaS
  • Dev tools

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Cosmin

Cosmin focuses on platforms from typical B2B / Enterprise solutions and Dev tools to consumer-focused. Cosmin has wide-ranging experience dealing with software products and identifying their strengths and weaknesses.

Cosmin led GapMinder’s Fund I investments into Frisbo, Smart Dreamers, Soleadify, DeepStash, Machinations, Innoship, Planable and Yarooms.

Prior to GapMinder, Cosmin was with Deutsche Telekom in various roles including the role of Investment Manager for one of its investment arms (Hubraum), where he coordinated and managed deals across the entire CEE region.

Cosmin is a highly experienced investor, having extensive knowledge and understanding of business models built around high-tech products and a great deal of experience working with early-stage teams.

Member of the Investment Committee

Alexandru Ruff

Partner

Member

Specialized in:

  • Early Seed
  • Fund Operations

Focus on:

  • B2B/SAAS
  • B2B/HW

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Alex

Alex led 20+ pre-seed investments and participated in various transactions together with other GapMinder partners. In addition to deal execution, Alex’s involvement in the Accelerator programme of Fund I extended to mentoring and strategy sessions.

He manages GapMinder’s Operations and has a significant role in Investor Relations.

Prior to GapMinder, Alex was a business consultant and co–founder of the RICAP (Romanian Innovation Commercialization Assistance Program), a Romanian-US accelerator program.

Alex is a graduate of the Bucharest Faculty of Cybernetics, Statistics, Computer Science Mathematics and Economics, Department of Cybernetics.

Robert Herscovici

Investment Director

Member

Specialized in:

  • Corporate finance
  • Investment analysis
  • Portfolio management

Focus on:

  • B2B
  • Fintech
  • Performance
  • Strategy

Read bio

Robert

Robert joined GapMinder in April 2021 and has since taken on a multi-faceted role involving deal generation / pipeline management, round negotiations and analysis, portfolio management and investment realisations.

Robert has six years of M&A consulting experience, having previously worked in the London team of Clearwater International, a pan-European Investment Banking boutique.

He has been involved in cross-border mid-market transactions focusing on financial services, business services, and technology sectors. Robert has advised both entrepreneurs and private equity clients in sell-side and buy-side projects, managing M&A transactions as well as providing value-add strategic consulting to clients.

Robert has a BSc Business Studies degree from Cass Business School (London) and has passed level 2 of the CFA charter holder exams. He relocated back to Romania after ten years in the UK to contribute to the development of the capital and entrepreneurship local markets.

Denisa Scutariu

Reporting & Compliance Officer

Member

Specialized in:

  • Reporting
  • Compliance

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Denisa

Denisa operates as a compliance officer providing support for the Fund Manager in the process of AML/KYC referred stakeholders into portfolio companies.

Responsible for primary verification referred to FMA restrictions in the due diligence process.

Collecting and compiling financial / business data of portfolio companies for reporting purposes.

Denisa acted in the past 10 years as a Financial and Operations Coordinator for Civitta Strategy & Consulting, a strategic consultancy company.

She was focused on reporting to the board/shareholders, managerial accounting, including accounting reconciliation; drafting and monitoring of the P&L and cash flow of the company; financial planning of the projects together with department managers.

During all this time, she was financially responsible for various EU-funded projects.

Denisa finalized the University of Economic Studies from Bucharest in 2008.

Gabriela Dia

Senior Associate

Member

Specialized in:

  • Valuation
  • Corporate finance
  • Investment

Focus on:

  • Deal origination
  • B2B SaaS
  • CEE region

Read bio

Gabriela

Gabriela is a Senior Associate at GapMinder.

Gabriela joined GapMinder in September 2024 and has since engaged in deal origination, market and company analysis, transaction execution and portfolio management.

Gabriela has previously worked in corporate valuation at Deloitte, in M&A consulting at a French boutique investment bank and she was afterwards part of the largest CEE venture investment platform in tech start-ups.

She covered a large spectrum of valuation and financial modeling projects from various industries, provided advisory services for sell-side, buy-side, and joint ventures in renewable energy, and managed the entire deal process from sourcing to closing tech startup investments, being responsible for deal origination, market research, due diligence, and transaction execution.

Gabriela pursued a BSc in International Business from Bucharest University of Economic Studies followed by a MSc in Finance from Erasmus University of Rotterdam and successfully earned the CFA level 1.

Contact ** 06 ** Contact ** 06 **