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October 3, 2022

Growceanu plans to invest up to 1 million EUR in 18 startups this year


  • Investment plans up to 1 million EUR in 2021
  • Target: finalizing 18 transactions this year and extending the team by 70 new investors with a business angel profile
  • Largest transaction thus far, worth 200.000 EUR
  • Areas of interest: PropTech, EdTech, SmartCity, Enterprise software, Marketplaces, FinTech and MedTech, based on technologies such as Artificial Intelligence, SaaS, Data Science, Digital Mapping, IoT
  • 400.000 EUR current investment portfolio



 Growceanu, a business angel group targeting startup investments, plans to invest up to 1 million EUR in 18 transactions this year. In the first quarter of 2021, the group completed an investment round for Milluu, worth 75.000 EUR. The group’s largest investment until now in Metabeta has been signed for 200.000 EUR, together with round two for Bright Spaces, amounting to 35.000 EUR.

In 2021, the founders invested 50.000 EUR of their own money in Growceanu, with the aim of developing the first angel investment platform in Romania, thus targeting the business angels’ group extension at a national level.

“We are a group of angel investors where each member invests their own funds and decides whether to join each startup deal we present to them. We don’t have a rigorous investment budget. Compared to investment funds, we form a network that offers more flexibility for startups. From an investor’s perspective, working with Growceanu is easy and flexible. Whether they are private individuals, associations, organizations, or investment funds, we are happy to syndicate and invest together” says Ciprian Man, one of Growceanu’s founders, self-identified as Angels Keeper.

Growceanu is a group of 17 business angels founded in 2018, interested in start-ups from PropTech, EdTech, SmartCity, Enterprise, Marketplaces, FinTech, and MedTech, that make use of technologies such as Artificial Intelligence, SaaS, Data Science, Digital Mapping, IoT. In the process of analyzing potential investments, Growceanu targets the entrepreneurs who are passionate about their work, have validated the product or services they offer with potential clients, are part of a team whose complementary skills can permanently improve the business, and who understand the value that business angels bring to a startup.


Solid experience in PropTech, MedTech, Enterprise, Marketplaces, and EdTech


Currently, Growceanu’s portfolio includes investments amounting to 400.000 EUR in startups such as Bright Spaces, xVision, EmailTreeAI, Kinderpedia, Telios, Sitter, and Milluu. Furthermore, Growceanu is closing an investment in Metabeta and the follow-on seed round for Bright Spaces.

 „Last year we did four transactions amounting to 275.000 EUR. In 2021 we are targeting 1 million euros’ worth of investments and plan to connect with more valuable start-ups, to identify new mentorship opportunities and support for start-ups, to work with more investors willing to contribute their experience, networking, and funds”, adds Ciprian Man.

Growceanu investors take each decision individually, but they receive A-Z support to build a portfolio: scouting and startups selection, pitching events, structured due business processes, legal due diligence and SPV incorporation.



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