Asternova Centru: €50,000–350,000 in venture capital for start-ups in the Centre Region

Technology start-ups at the pre-seed or seed stage in the counties of Alba, Brașov, Covasna, Harghita, Mureș and Sibiu can receive investments of €50,000–350,000 from Asternova Centru, a regional venture capital fund of €8.061 million. Of this amount, €7.058 million is public capital, invested through ADR Centru from the Centre Region Programme 2021-2027. It is not a grant: the fund becomes an investor in the company, and applications are accepted on a rolling basis through an online form, with no announced deadline.

In brief

• Programme: Asternova Centru, a financial instrument (venture capital fund) from the Centre Region Programme 2021-2027, co-financed by the European Regional Development Fund
• Authority: ADR Centru (public capital investor); the fund is managed by Aster Capital Partners, together with partners Iceberg+ and Venture Booster
• Beneficiaries: technology start-ups at the pre-seed and seed stage in Alba, Brașov, Covasna, Harghita, Mureș and Sibiu
• Total budget: €8.061 million, of which €7.058 million is public capital
• Value per project: between €50,000 and €350,000 per company
• Target portfolio: 40 companies
• Submission period: rolling applications through an online form; no deadline has been announced
• Status: fund operational, accepting applications

What kind of funding is Asternova Centru?

It is venture capital funding, not a non-refundable grant. The fund invests money in the company in exchange for an equity stake or an equivalent instrument, and its return comes from the growth in the company's value. In practice, the founders share control and future profit with a professional investor, who gets involved in strategy and in subsequent funding rounds.

The fund says that, besides capital, it offers long-term support and regional proximity. The team includes an acceleration expert, and the partners Iceberg+ and Venture Booster are presented as partners for knowledge of the regional market and support for founders. The exact structure of each investment (type of instrument, valuation, percentage given up) is negotiated case by case and is not published on the fund's website.

Who can apply?

According to the manager, the fund is aimed at technology companies at the pre-seed or seed stage in the six counties of the Centre Region. The fund's official page does not publish detailed eligibility criteria (maximum age, turnover, excluded sectors). These are clarified during the selection process, so it is worth asking the fund's team directly before investing time in preparing your application.

For orientation: pre-seed usually means a team with a prototype or first users, while seed means a company with a product on the market and first revenues that needs capital to grow. A traditional company with no technology component or no potential for rapid growth is not the profile such a fund is looking for.

How do you apply?

1. Go to the fund's page for start-ups (asternova.vc/centru/pitch/).
2. Complete the online form, in which the fund asks for information about the team, product and market.
3. The fund's team reviews the application; the stages of selection and the length of the review are not published on the site.
4. For companies that pass the first assessment, venture capital practice is to follow with meetings with the team, detailed analysis (due diligence) and a decision by the investment committee.

There is no call with a fixed deadline: the fund invests gradually, until the portfolio of 40 companies is built.

What this means for your business

Our recommendation, as a consultancy firm:

• First check whether venture capital suits you. If you do not want to give up part of the company or have no rapid growth plan, a non-refundable grant or a guaranteed loan may be a better fit. You can start with the eligibility check.
• Prepare a short pitch deck and consistent figures: the problem solved, the product, the target market, traction (users, revenues, contracts), the team and the amount requested, with its use over 18–24 months.
• Put the company's structure in order: a clear shareholding, intellectual property rights registered in the company's name, and contracts with the founders and key collaborators. These are the first things checked in due diligence.
• Common pitfall: founders treat the investment like a grant and underestimate the negotiation of terms (percentage given up, veto rights, exit clauses). We recommend consulting a lawyer experienced in investments before signing.
• Combine smartly: venture capital can be complemented by other sources, for example research and innovation grants, but check the state aid cumulation rules for each programme.

Frequently asked questions

Does the money from Asternova Centru have to be repaid?

Not like an ordinary loan, but it is not a grant either. The fund invests in the company and becomes an investor, expecting to recover its money on a sale or in a later round. The specific terms are negotiated for each investment.

Can I apply if my company is from Cluj or Bucharest?

No. The fund invests in start-ups in the six counties of the Centre Region: Alba, Brașov, Covasna, Harghita, Mureș and Sibiu.

What are the minimum and maximum amounts?

The fund invests between €50,000 and €350,000 per company, and the target is a portfolio of 40 companies.

Is there a submission deadline?

No deadline has been announced. Applications are submitted on a rolling basis, through the online form on the fund's website, for as long as the fund has capital available for new investments.

Where does the fund's money come from?

Of the €8.061 million, €7.058 million is public capital, invested by ADR Centru from the Centre Region Programme 2021-2027, co-financed by the European Regional Development Fund. The remainder comes from private investors.

Official sources

• Asternova Centru: the fund's official page (Aster Capital Partners)
• Asternova Centru: applications for start-ups
• ADR Centru: manager appointed for the new regional equity fund

Information checked on 5 October 2026. Conditions may be changed by the managing authority — check the guide in force before you submit.