Credo Ventures closes $88M to keep backing CEE founders

This article was published on March 23, 2026 The Prague and Krakow firm, whose earliest bets include UiPath and ElevenLabs, is doubling down on pre-seed in Central and Eastern Europe and its global diaspora, with a six-partner team and a $1–5M typical cheque. Credo Ventures has closed Credo Stage 5, an $88 million fund raised in a single closing, continuing the Prague and Krakow firm’s fifteen-year strategy of writing the first institutional cheque for founders from Central and Eastern Europe and its diaspora. The fund is the firm’s largest to date, stepping up from the €75 million fourth fund closed in 2022. The firm’s founding partners Ondrej Bartos and Jan Habermann launched Credo in 2010 and have backed over 100 companies across four funds. The two headline outcomes, UiPath, the Romanian-founded RPA platform that listed on the NYSE in 2021 at a $35 billion valuation, and ElevenLabs, the AI voice company most recently valued at $11 billion, are the cases Credo leads with, and with good reason: both were pre-seed investments led or co-led by the firm before either company was widely known. Maciek Gnutek, now a partner at Credo, was an early backer of ElevenLabs. The fifth fund is