Prague-based Rockaway Ventures closes second fund at nearly €55M; will focus on these sectors

Prague-based Rockaway Ventures, a European investment fund within the Rockaway Capital group, announced the closing of its second fund, Rockaway Ventures II, at nearly €55M. 

The fund targets late-seed and Series A tech startups in traditional industries. Previously investing in e-commerce and travel tech, the fund is now focusing on energy, defence, and dual-use technologies.

Dušan Zábrodský, General Partner at Rockaway Ventures, says, “We are currently seeing numerous investment opportunities in sectors significantly shaped by global trends and geopolitical developments.”

“We are particularly interested in founders across Europe and the United States who are committed to driving growth and advancing their businesses through transformative technologies.”

Rockaway Ventures has invested in several companies, including Apaleo, a hotel management platform based in Germany. Another investment is CulturePulse, a startup from the US and Slovakia that uses AI to analyse behaviour and predict risks.

The fund has also backed Gjirafa, an Albanian e-commerce and media platform, which received $8.7M from Rockaway Ventures through two funding rounds.

Deep tech momentum returns

Interest in deep tech is growing again after a difficult period for venture capital. According to Petr Šmíd, General Partner at Rockaway Ventures, the recovery started in 2024 and is continuing, with technology such as AI driving renewed interest. He noted that investors now better understand AI’s effects in specific sectors.

Rockaway Ventures positions itself by combining business experience, targeted investment strategies, and direct collaboration with startup founders.

Petr Šmíd says, “We’re not just capital. We’re entrepreneurs ourselves – we’ve built companies, and we understand what’s around the corner. Founders working with us receive hands-on support in areas like international expansion and scaling.”

Backing startups across Europe and the US

Rockaway Ventures began informal investing in 2014, supporting early Czech startups such as Productboard and Storyous. The current fund was launched in 2022. Around 25 per cent of its capital comes from Rockaway Capital, with the rest contributed by private investors, mainly from Czechia.

Currently, Rockaway Ventures has 11 portfolio companies and plans to expand this number over the next three years. 

60 per cent of new investments will focus on Central and Eastern Europe, while 40 per cent will target Western Europe and diaspora-founded startups from Czechia and nearby countries now based in the US. 

The fund aims to support startups from pre-seed through growth-stage rounds.

Brief about Rockaway Ventures

Rockaway Ventures, part of the Rockaway Capital group, is a VC fund that invests in startups using technologies like AI to modernise established industries. 

Founded in 2013 by Jakub Havrlant, the fund targets late-seed and Series A stages, mainly in Central Europe and the DACH region. It also supports founders from the Czech and regional diaspora who are building tech companies in Western Europe and the US.