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Digital Den is establishing the first Montenegrin Venture Capital Fund with a group of American investors

05.

april 2023.

The founders of Digital Den, Darko Ivanovic and Nenad Novovic, and Peter Adams, the founder of the oldest American VC fund - Rockies Venture Fund, met today with the President of the Commission for the Capital Market Authority of Montenegro, Zeljko Drincic and the Minister of Finance Aleksandar Damjanovic and his team.

During the meeting, the founders of Digital Den and their partner Peter Adams announced the establishment of a unique Balkan Tech Fund in Montenegro - the first venture capital fund in our region, which will aim to channel American investors' capital into startups from Montenegro and the region.

Peter Adams, who is also a member of the Advisory Board of Digital Den, said that statistics show that startup companies are creating new jobs, as well as that investing in such projects is crucial in motivating competitive individuals to stay in Montenegro, but also a way for foreign capital to enter the Montenegrin market.

Zeljko Drincic emphasized the importance of recognizing the space for the startup world in the domestic legislative framework as the fastest-growing industry to create a foundation for the smooth operations of developing companies. Minister Aleksandar Damjanovic also supported further improving the concept of startups, saying that the perspective of modern global business is an investment in innovations and intelligent technological solutions.

The founders of Digital Den once again pointed out the importance of the benefits of the Law on Incentive Measures for the Development of Research and Innovation, which is the first step for building a stable and sustainable startup ecosystem in Montenegro.

We will remind you that thanks to the Law mentioned above and the pioneering efforts of eight local investors, Digital Den's portfolio was enabled with 12 pre-seed investments in December of last year in the total amount of 1.87 million euros.

DD and BTF - we are making history.

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