BestInvest 2025 Nominees for the Awards
Awards Nominees 2024
The proposed nominees are listed in the six categories: Private Equity Investment of the Year, Venture Capital Investment of the Year, Founder of the Year, Investor of the Year, Exit of the Year, Fundraising of the Year and Investor of the Year. BestInvest 2025 Nominees for Awards are nominated for private equity and venture capital investment achievements in 2024.
The Award Committee Members decide independently on the winners of the BestInvest awards.
Join the BestInvest conference and learn who this year’s winners are.
Private Equity Investment of the Year
Aroma Gelato
The acquisition of a majority stake in Aroma Global 3 by Prosperus Growth marks a significant step in the development of Croatia’s premium food and tourism sector. Aroma, a fast-growing brand specialising in handcrafted gelato and sorbetto made from 100% natural ingredients, has built a strong market presence with over 50 locations across the country, particularly in high-traffic tourist destinations. The company reported a remarkable growth in revenue, rising from €2.3 million in 2022 to €8.1 million in 2023, and currently employs more than 110 people. Prosperus Growth recognised Aroma’s potential to scale regionally, driven by its commitment to innovation, product quality, and strong consumer loyalty. The investment is expected to support further expansion across European markets, leveraging Aroma’s brand equity and scalable production model. This transaction underscores how growth capital can elevate a domestic consumer brand into a regional leader while contributing to job creation and value-added manufacturing in Croatia.
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Entrio
Invera Equity Partners’ investment of over €9 million into Entrio Technologies represents one of the most successful recent examples of scaling a digital platform in Southeast Europe. Entrio is the fastest-growing ticketing and event-tech company in the region, with a 6.5x increase in revenue since 2019. In 2023, the company facilitated the sale of over one million tickets for more than 3,000 events, reaching €16 million in gross ticket value. Entrio’s platform serves over 800 event organisers and 5,000+ events in 2024, supported by a robust, continuously updated technology stack. The investment enables the company to deepen its product offering—including features for virtual and hybrid events, content streaming, and personalised event recommendations—while preparing for international market entry. Importantly, this transaction also represents a successful exit for Fil Rouge Capital, a prominent Croatian venture capital fund, highlighting the value creation journey from early-stage funding to private equity growth. The collaboration between a VC and a PE investor not only validates Entrio’s business model but also strengthens the Croatian investment ecosystem by demonstrating a functional capital continuum that can support startups from inception to scale.
Nutris
Summa Equity’s acquisition of a majority stake in Nutris marks a powerful alignment between impact-driven private equity and a pioneering Croatian foodtech company focused on plant-based nutrition. Founded in 2019 by Croatian entrepreneur Zvonimir Sedlić, Nutris operates a state-of-the-art production facility in Zagreb, with an R&D center in Copenhagen. The company is a global innovator in the development of sustainable plant-based proteins—especially fava bean protein—which offers a low-carbon, high-nutrition alternative to soy and whey. Nutris collaborates with over 500 farmers to grow fava beans under a circular economy model, positioning itself as a global leader in sustainable agri-food innovation.
Summa Equity, investing from its €2.3 billion Fund III, brings capital, strategic expertise, and an established ESG framework to support Nutris in scaling its operations, increasing yield and capacity, and refining its product offering. The acquisition will further Nutris’s ability to influence sectors, including dairy and meat alternatives, sports nutrition, and functional food ingredients. With patented processes and a commitment to environmental and community impact, Nutris contributes meaningfully to the UN Sustainable Development Goals, particularly SDG 12 (responsible consumption and production) and SDG 13 (climate action). This investment demonstrates how private equity can drive both financial returns and measurable impact in addressing one of the world’s most pressing challenges: sustainable food production.
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Vetti Group
Provectus Capital Partners launched a bold consolidation strategy in the veterinary services sector in February 2023, starting with the acquisition of Buba Veterina doo, now rebranded as Vetti Group. This buy-and-build platform has quickly evolved into the largest regional veterinary services group, executing seven acquisitions in 2023 and accelerating momentum in 2024 with ten additional add-ons in Croatia and its first regional acquisition—the largest 24/7 veterinary clinic in Belgrade, Serbia. A cornerstone of the group’s strategy is its hub-and-spoke model, combining basic veterinary care offered across local clinics with advanced diagnostics and specialist services centralised in regional hubs. The group opened a flagship 24/7 veterinary hospital in Zagreb in 2024, a 700m² greenfield facility featuring advanced imaging, surgical, and inpatient care capabilities, backed by a €2.3 million investment. Another hub in Split is underway and scheduled for completion in the first half of 2025.
From just €1 million in revenue and under 30 employees in 2022, Vetti Group has expanded to over €17 million in revenue and 300+ employees by 2024, reflecting the scalability and success of its strategy. This platform is not only transforming the standard of veterinary care in Croatia but also enhancing professional development in the field through its in-house Vetti Academy and a dedicated scholarship program for veterinary students. Looking ahead, the Group anticipates further growth, with over 15 additional companies in its acquisition pipeline, aiming to exceed €30 million in revenues and employ over 450 professionals across more than 30 companies by the end of 2025. Vetti Group exemplifies the transformative potential of private equity in creating regional champions in fragmented service sectors.
Venture Capital Investment of the Year (in alphabetical order)
57hours
57hours is a global digital marketplace that connects outdoor adventure seekers with certified local guides in some of the world’s most remote and beautiful destinations. With a mission to enable safe, sustainable, and enriching outdoor experiences, the platform empowers people to reconnect with nature while also creating income opportunities for local guiding communities. In 2024, the company secured a follow-on investment from Feelsgood Capital Partners, a fund known for supporting impact-driven ventures.
Co-founded by serial entrepreneurs and outdoor enthusiasts Viktor Marohnić and Perica Levatić, 57hours exemplifies a purpose-driven business model that balances scalability with positive societal and environmental impact. The company commits 1% of its gross sales to environmental causes and an additional 1% to diversity initiatives, ensuring that its growth contributes to broader sustainability goals. The name “57hours” reflects the idea of spending the most of the weekend—57 hours from Friday afternoon to Sunday night—outdoors. With a unique model that blends digital convenience, community empowerment, and eco-consciousness, 57hours is redefining adventure travel in the modern era.
all eyes on the screens (AdScanner)
Kristijan and Marijan Ćurković founded AdScanner, a fast-growing video advertising platform that helps brands make more intelligent decisions using artificial intelligence and audience data. Its platform allows advertisers to better understand who is watching their ads—on traditional TV and digital platforms—and how to optimise their media investments. In October 2024, AdScanner secured $11.1 million in a Series B round, led by Taiwania Capital, with participation from Lead Ventures, J&T Ventures, and South Central Ventures, bringing total funding to $14 million. This investment supports the company’s international expansion and the ongoing development of advanced video advertising tools. With strong backing and cutting-edge technology, AdScanner is quickly becoming a key player in the global media and advertising ecosystem.
AgeSync
AgeSync is a Croatian healthtech startup aiming to transform how people manage their hormonal health. In 2024, the company raised €700,000 from Feelsgood Capital Partners to develop its personalised digital platform that offers tailored hormonal therapy programs. These programs are designed to optimise hormones like testosterone and growth hormone, and improve energy, sleep, and mental clarity. Users go through an online health assessment and receive customised therapy and lifestyle recommendations from a medical team. With a focus on well-being, longevity, and digital accessibility, AgeSync is addressing a growing public interest in proactive health and is creating a scalable solution that blends medical expertise with artificial intelligence.
Daytona
Daytona, founded by Croatian entrepreneurs Ivan Burazin, Vedran Jukić, and Goran Draganić, is building an innovative solution for software developers around the world. In simple terms, Daytona helps developers avoid the common pain of “it works on my computer, but not yours” by providing a standardised, easy-to-set-up environment for building and testing software. The platform allows teams to launch a ready-to-use programming environment with just one command—saving time, reducing errors, and improving collaboration. In 2024, Daytona raised $5 million in a seed round led by Upfront Ventures, with support from 500 Global. The investment will allow the company to make its tools more accessible globally and further develop its open-source project, which has already received wide support from the global developer community.
Lebesgue
Lebesgue is a Croatian-founded, US-headquartered company helping online businesses grow more efficiently by providing data-driven insights into their marketing performance. With its cloud-based platform, companies can analyse customer behavior, optimize advertising spending, reduce user churn, and increase sales. In January 2025, Lebesgue raised $3 million in seed funding from Fil Rouge Capital and several US-based venture capital firms. The funding supports the expansion of the team and the further development of their advanced analytics tools. Led by Josip Begić, Lebesgue empowers e-commerce companies to make better decisions using mathematical models—bridging the gap between marketing and data science.
Legit
Legit, a Croatian deeptech company, secured a €650,000 investment from the Vesna Deeptech Venture Capital Fund in 2024 to scale its Data Privacy Manager platform. This software helps organisations automatically identify and protect personal data across their systems, ensuring they comply with privacy regulations like GDPR. Developed in collaboration with FER Zagreb and supported by EU structural funds, the platform uses machine learning to discover and manage personal data efficiently. CEO Marijan Bračić and his team are positioning Legit as a leader in digital privacy technology at a time when data protection is becoming a top priority for companies worldwide. This is a strong example of applying deeptech to solve real-world compliance challenges in a scalable way.
Orqa
Orqa, based in Osijek, is redefining the future of autonomous drone technology. Originally started as a hardware consultancy, Orqa has grown into a developer of advanced drone systems for both commercial and defense purposes. In December 2024, the company raised €5.8 million in seed funding from Lightspeed Venture Partners, Radius Capital, Decisive Point, and Day One Capital. Orqa’s drones are designed to be reliable, affordable, and high-performance—capable of applications from security and surveillance to logistics. The company also produces specialised headsets and low-latency video systems and collaborates with major international players like Baykar Technologies. With its strong engineering capabilities and growing global partnerships, Orqa is on track to become a leading European provider of unmanned aerial systems.
SplxAI
SplxAI is tackling one of the fastest-growing problems in today’s tech world—how to make artificial intelligence (AI) systems safe as more companies adopt AI tools like chatbots and smart assistants, the risk of these systems being misused or manipulated increases. SplxAI is developing the world’s first all-in-one platform that helps companies test and secure their AI systems before problems occur. In 2024, the company raised $2 million in pre-seed funding from Inovo.vc, South Central Ventures, and Runtime Ventures. SplxAI allows businesses to simulate real-life scenarios to find weak spots in their AI apps and fix them early, helping ensure customer trust and regulatory compliance. As AI continues to grow in everyday use, SplxAI is building a vital layer of protection to make this technology safer for everyone.
Verne (formerly Project 3 Mobility)
Verne, previously known as Project 3 Mobility, is one of the most ambitious mobility startups in Europe. The company raised €100 million in a landmark Series A round in early 2024 from a combination of global investors, including TASARU Mobility Investments (a Saudi sovereign wealth fund), Kia, Rimac Group, SiteGround, Infinum, Neurone, and Elaf Auto. Verne is developing a fully autonomous urban mobility ecosystem that includes self-driving electric vehicles, smart infrastructure, and a ride-hailing service—all of which will be launched in Zagreb by 2026. Verne has also partnered with Mobileye, a global leader in autonomous driving technology, to begin testing its system in real-world conditions. Led by CEO Marko Pejković, Verne is creating a safe, seamless, and eco-friendly transportation experience for cities of the future—placing Croatia at the forefront of next-generation mobility innovation.
Founder of the Year
(in the alphabetical order of the surname)
Josip Begić
CEO and Founder, Lebesgue
Josip Begić is the founder and CEO of Lebesgue, a company that helps e-commerce brands grow more efficiently using advanced data science. The platform uses mathematical models to analyse customer retention, optimise advertising spending, and scale marketing performance. Under Josip’s leadership, Lebesgue has secured international funding and established itself as a leading marketing intelligence solution provider.
Srđan Kovačević, Ivan Jelušić, Vlatko Matijević
Co-founders, Orqa FPV
Srđan Kovačević (CEO), Ivan Jelušić (CSO), and Vlatko Matijević (CTO) co-founded Orqa FPV, a Croatian tech company developing cutting-edge FPV (First Person View) and remote reality technologies. From advanced drone vision systems to virtual and augmented reality headsets, the trio built Orqa into a global innovator in unmanned and defense tech. Their combined expertise in engineering, business, and technology execution helped Orqa secure significant seed funding in 2024 and form strategic partnerships, including one with Baykar Technologies.
Viktor Marohnić
CEO and Co-founder, 57hours
Viktor Marohnić, an experienced tech entrepreneur and outdoor enthusiast, is the co-founder and CEO of 57hours—a global digital platform connecting adventure seekers with local certified guides. The company promotes sustainable tourism and donates 2% of gross sales toward environmental and diversity initiatives. Viktor’s vision blends technology, social impact, and a passion for the outdoors, making 57hours a standout in purpose-driven travel tech.
Berislav Marszalek
CEO and Founder, Entrio Tehnologije
Berislav Marszalek is the founder and CEO of Entrio, a leading self-service event ticketing platform in the SEE region. He launched Entrio while still in college, turning it into the region’s most advanced and fastest-growing event-tech company. From bootstrapping in a student apartment to securing venture and private equity investments, Berislav’s journey is a case study in entrepreneurial persistence and product excellence.
Marko Pejković
Co-founder and Chief Business Officer, Verne
Marko Pejković is the co-founder and CBO of Verne (formerly Project 3 Mobility), a Croatian company developing a fully autonomous urban mobility system. Backed by €100 million in Series A funding from strategic global investors, Verne is creating self-driving vehicles and infrastructure to transform urban transport. Marko plays a leading role in steering the company’s growth strategy and international positioning as a pioneer in mobility tech.
Ivan Porkolab
Founder, Fragment Digital d.o.o.
Ivan Porkolab founded Fragment Digital, a company specialising in augmented and virtual reality applications. The company develops mobile and XR solutions with social impact, aiming to improve accessibility for people with disabilities and enhance cultural engagement. Ivan’s work bridges creativity and technology, contributing to inclusive innovation in the digital experience space.
Zvonimir Sedlić
CEO and Founder, Nutris
Zvonimir Sedlić is the founder and CEO of Nutris, a Croatian company pioneering sustainable plant-based nutrition. Drawing on his background as a crop and protein trader, Zvonimir launched Nutris in 2019 with a vision to transform the global food system through innovation and sustainability. Under his leadership, Nutris developed a state-of-the-art factory in Zagreb and an R&D hub in Copenhagen, producing high-quality fava bean proteins with exceptionally low carbon footprints. In 2024, Nutris secured a majority investment from Summa Equity to scale production and deepen its impact. With a focus on circular economy models, collaboration with over 500 farmers, and patented technologies, Zvonimir has positioned Nutris as one of the global leaders in the alternative protein space—contributing to healthier diets and a more sustainable planet.
Exit of the Year
(in alphabetical order)
Entrio – Exit of Fil Rouge Capital to Invera Equity Partners
The successful exit of Fil Rouge Capital from Entrio marks a landmark transaction for Croatia’s venture capital and private equity ecosystem. Fil Rouge Capital initially invested in Entrio in early 2021, at the height of the COVID-19 crisis. This bold move demonstrated confidence in founder Berislav Marszalek and his vision for building a leading ticketing platform in Southeast Europe. Over the next three years, Entrio scaled rapidly, becoming the region’s most advanced and fastest-growing event tech platform.
In 2024, Fil Rouge Capital exited Entrio through a transaction with Invera Equity Partners, a Croatian private equity firm. This not only validated Entrio’s business performance and growth potential but also illustrated a strong example of collaboration across capital stages—from venture capital to private equity—within the domestic investment ecosystem. The exit delivered a significant return for Fil Rouge Capital’s FRC2 fund and provided Entrio with the resources and strategic guidance to enter its next phase of growth under private equity ownership. This case exemplifies how early-stage investment, founder resilience, and timely private equity backing can come together to produce a high-impact growth story rooted in the region.
Mlinar – Partial Exit of MidEuropa to Bosqar Invest
In one of the region’s most significant food industry transactions, MidEuropa Partners completed a partial exit from Mlinar Group in February 2024, selling a 67% majority stake to Bosqar Invest for €100 million. MidEuropa first invested in Mlinar in 2019, transforming the company from a founder-led operation into a modern, competitive, and regionally dominant fresh food producer. During its ownership, Mlinar nearly doubled its revenues—reaching €163 million in 2023—expanded its store count from 200 to over 300, improved operational efficiency, and expanded across Croatia, Slovenia, Bosnia and Serbia.
The acquisition by Bosqar Invest marks a major step in the group’s strategy to consolidate the food sector in Southeast Europe, following its earlier investment in Panvita. While MidEuropa retains a minority stake, this deal enables the next chapter of Mlinar’s regional and international expansion, with Bosqar providing strategic resources and long-term vision. The transaction showcases the full private equity lifecycle: buy, build, and partial monetisation—while retaining upside through continued involvement. It is also a testament to the value creation capabilities of experienced investors and professionalised leadership teams in turning domestic champions into international contenders.
Fundraising of the Year
(in alphabetical order)
Silicon Gardens Fund III
Silicon Gardens Fund III is the third venture capital fund from Silicon Gardens, a “founders for founders” VC firm based in Ljubljana and uniquely rooted in the Adria region. Founded by successful tech entrepreneurs from Slovenia, the fund targets early-stage technology startups across Southeast Europe, including Croatia. It focuses on ambitious founders building B2B SaaS platforms, mobile apps, innovative D2C products, and gaming technologies.
The fund’s first close was on June 30, 2024, with 102 investors committing €24.53 million. The final close remains open until March 31, 2025, with a target fund size of €30 million. By the end of 2024, the fund had already investe in 11 portfolio companies, including Croatian startups Daytona, InsiderCX, Final Offer, and the adventure marketplace 57hours. Building on the experience from two previous funds (SGF I at €0.3M and SGF II at €6M), SGF III benefits from the operational and investment expertise of partners with successful exits from companies like Outfit7, Photomath, and Microblink. With a community of over 100 successful founder-investors, Silicon Gardens combines capital, mentorship, and regional startup ecosystem building in one of Europe’s most promising early-stage markets.
Vesna Deep Tech Venture Fund
Vesna Venture Capital manages the first deep tech fund of its kind in Central and Eastern Europe, with a strong focus on Croatia and Slovenia. The €50 million fund, headquartered in Luxembourg with offices in Zagreb and Ljubljana, was officially launched in 2024. It invests in startups at the intersection of deep science and commercialisation—covering sectors such as climate tech, advanced materials, AI, and ICT—with the goal of supporting early-stage innovations that address urgent global challenges.
Vesna was launched with the backing of the European Investment Fund (EIF), which committed €40 million, alongside contributions from the Croatian Bank for Reconstruction and Development (HBOR), Slovenia’s SID Banka, and private investors. By the end of 2024, Vesna had made seven investments, including four in Croatia: Legit (AI-driven data privacy management), GlycanAge (biotech diagnostics), PFWV, and Tinfe. Vesna stands out for its structured approach to identifying, supporting, and scaling deep tech innovations emerging from research institutions, and plays a critical role in bridging the gap between science and the market in the region.
Investor of the Year
(in alphabetical order)
Feelsgood Capital
Feelsgood Capital Partners manages the Feelsgood Social Impact Investment Fund, a €30 million fund dedicated to investing in Croatian and Slovenian ventures that not only aim for profitability but also deliver measurable social impact. The fund focuses on businesses addressing one or more of the 17 Sustainable Development Goals, integrating impact as a core component of their business models. Since its inception, Feelsgood has invested in 13 startups founded by entrepreneurs from Croatia and Slovenia, with headquarters spanning Croatia, Slovenia, Ireland, and the U.S. The portfolio is diverse, encompassing sectors from food and agritech to consumer tech, enterprise software, AI, and gaming industries. In June 2020, the Croatian Financial Services Supervisory Agency approved Feelsgood Capital Partners as the fund manager for the Feelsgood Social Impact Investment Fund.
Fil Rouge Capital
Fil Rouge Capital Partners is an early-stage venture capital investor focusing on pre-seed, seed, and Series A investments in Croatian-based startups. Commencing operations in July 2019, it became the first dedicated venture capital fund in Croatia under the Croatian Venture Capital Initiative (CVCi) managed by the European Investment Fund (EIF). With €48 million in assets under management, Fil Rouge Capital has fully invested its allocated capital across 169 startups, positioning it as one of the most active early-stage investors in the Central and Eastern European region. Its contributions have significantly impacted the Croatian startup ecosystem. In April 2025, Fil Rouge Capital completed the first closing of its third fund under the follow-on CVCi II initiative, aiming to continue supporting early-stage and venture capital investments in Croatia.
Invera Equity Partners
Invera Equity Partners has demonstrated a strategic investment approach with a unique portfolio in the region, including companies such as the Museum of Illusions, Kompare, Marles, and Entrio. In 2024, Invera invested in Entrio, further diversifying its holdings. Collectively, Invera’s portfolio comprises 25 companies (including bolt-ons), generating revenues exceeding €100 million in 2024, with projections surpassing €150 million for 2025. The portfolio companies employ approximately 860 individuals as of 2024, with 606 new hires, and have secured over €50 million in external financing. Their presence spans more than 40 markets globally.
Provectus Capital Partners
Provectus Capital Partners (PCP) is a buy-and-build specialist focusing on investments in growing and fragmented industries to create regional champions. Investing from PCP Fund I, the team of 12 professionals has made investments in five portfolio companies and over 35 add-ons in sectors such as private healthcare, dental services, specialty retail, and veterinary services. Collectively, these entities employ over 1,700 individuals and generate annual revenues exceeding €140 million. PCP emphasises corporate governance and regional consolidation improvements to accelerate growth, providing tailored strategic guidance and operational support from leading international sector experts. Over the past four years, PCP has established three regional champions:
- Adria Dental Group: The largest dental service organisation in Central and Eastern Europe, with over 700 employees and more than 150 dental chairs across 12 group members in Croatia, Slovenia, and Italy.
- Arsano Medical Group: A leading regional private healthcare group with over 450 employees, serving over 230,000 patients annually across nine group members in Croatia and Slovenia.
Vetti Group: A leading regional veterinary services group with over 300 employees, operating 37 locations through its 18 group members in Croatia and Serbia.
Prosperus Invest
Prosperus Invest has been an established private equity fund manager since 2011 and is currently managing its third fund, Prosperus Growth, with committed capital of €59 million. Prosperus Growth has invested in companies focused on IT, publishing, hospitality, and industrial production, contributing to the development and expansion of these sectors within the region.
Vesna Venture Capital
Vesna Venture Capital manages the Vesna Deep Tech Venture Fund, a €50 million fund established in 2024 and headquartered in Luxembourg, with offices in Zagreb and Ljubljana. The fund invests in deep tech projects and startups aiming to address the planet’s most urgent challenges through innovative solutions. By the end of 2024, Vesna VC had made seven investments, including four in Croatia: Legit (AI-driven data privacy management), GlycanAge (biotech diagnostics), PFWV, and Tinfe. Vesna’s mission is to transform early-stage innovations and talents into successful, scalable companies, focusing on sectors such as climate technology, advanced materials, and AI/ICT.
