Elevator Ventures, the venture capital manager of Raiffeisen Bank International (RBI) based in Vienna, has announced the launch of EV II, a new €70M Venture Capital fund. This fund is dedicated to investing in innovative companies at the Series A & B stages, focusing on fintech and beyond banking sectors.
Martin Schaller, CEO of Raiffeisen-Landesbank Steiermark, expressed the organization’s dedication to fostering entrepreneurship and driving positive change within the region. The fund sees participation from RBI, Raiffeisen-Holding Niederösterreich-Wien, and Raiffeisen-Landesbank Steiermark, continuing to support startups that are innovating in the financial and banking landscape.
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Roots in RBI’s Accelerator Program
Elevator Ventures originated from RBI’s accelerator program, Elevator Lab, established in 2018. The program aimed to identify and collaborate with innovative startups worldwide, leading to long-term partnerships with companies like Kompany and Pisano, which became some of Elevator Ventures’ first portfolio companies.
Strategic Partnerships and Industry Impact
Elevator Ventures focuses on generating financial returns for its investors while supporting the strategic goals of its Limited Partners (LPs) by connecting them with high-growth companies poised to disrupt the industry. By building a network of industry thought leaders and collaborating with startups working on future-relevant technologies and business models, Elevator Ventures aims to prepare banks for the challenges and opportunities of the next three to five years.
The venture capital firm actively collaborates with international co-investors, including Mouro Capital, IDC Ventures, AV 8, Venture Friends, Quona Capital, and others from Austria and the CEE region. With a broad sourcing and business development network in DACH and CEE, Elevator Ventures leverages the expertise of its investors to gain a competitive edge.
A Track Record of Success
To date, Venture Capital Firm has invested over €30M in 15 companies, achieving three successful exits and holding two fund-of-funds positions. Johann Strobl, CEO of Raiffeisen Bank International, highlighted Elevator Ventures as a crucial component of RBI’s long-term innovation strategy, underscoring its role in shaping the future of banking and fintech.
With the launch of the EV II fund, Austrian VC is poised to further its mission of fostering innovation and growth within the fintech and banking sectors, contributing to the development of a more dynamic and innovative financial landscape.
