JIC Ventures backs FaceUp in first deal and opens CEE startup hunt

By AI, Created 3:45 PM UTC, May 19, 2026, /AGP/ – JIC Ventures made its first investment six weeks after launching, backing FaceUp in a $5 million Series A and signaling plans to fund up to 20 startups across Central and Eastern Europe. The Brno-based fund is targeting early-stage founders in the region as FaceUp expands in corporate compliance and ethics software.

Why it matters: - JIC Ventures is putting its new €16.3 million fund to work and opening the door for more founders across Central and Eastern Europe. - The first deal shows the fund plans to combine capital with support from the JIC innovation ecosystem. - FaceUp’s growth matters because the company serves ethics, compliance and safe-reporting needs for businesses and schools in more than 70 countries.

What happened: - JIC Ventures made its first startup investment in FaceUp six weeks after launching the fund. - The fund joined a $5 million Series A round led by Fil Rouge Capital. - The investment came as JIC Ventures set out to back up to 20 early-stage technology startups over the next four years. - The fund plans tickets of up to €1 million per company. - Founders from Central and Eastern Europe are invited to send pitch decks.

The details: - FaceUp began as a student project at a JIC startup hub in Brno. - The original mission was to help victims of school bullying. - The product evolved over three years into a commercial SaaS platform for businesses. - FaceUp now protects more than 1.5 million employees and students in more than 70 countries. - Deloitte ranked FaceUp as the second fastest-growing technology company in the Czech Republic and fourth in Central Europe last year. - The latest round was FaceUp’s third and brought total funding to about $9 million. - Investors in the round included Venture to Future Fund, Gi21 Capital, Jiri Hlavenka, Tilia Impact Ventures, Reflex Capital, angel investors and employees. - Fil Rouge Capital is a Croatia-founded venture firm that manages €100 million in assets. - JIC Ventures said the company has cleared the security certifications required by large banks, global brands and other regulated customers. - FaceUp plans to use the new capital to build a more modular platform for ethics and compliance managers. - The company also plans to strengthen its position with large corporate customers and accelerate growth in the US and UAE. - Jan Sláma, FaceUp co-founder and CEO, said the investment will help the company grow ARR, expand the team and improve the product.

Between the lines: - JIC Ventures is drawing deal flow from startups it has already incubated or supported, which gives the fund unusual access to founders and early product history. - The first investment also signals that the fund is looking for global ambition, not just local roots, across SaaS, deep tech and other advanced technologies. - FaceUp is a fit for that strategy because the company has already moved from a student-run project into an international B2B platform. - JIC Ventures said it is particularly focused on deep tech, cybersecurity, software and hardware, space and dual-use technologies, and semiconductors.

What’s next: - JIC Ventures is now actively looking for pre-seed and seed-stage startups from the CEE region. - The fund aims to complete up to 20 investments over the next four years. - FaceUp will focus on product expansion and international growth, especially in the US and UAE. - Founders can apply by sending in a pitch deck through the fund’s open call.

The bottom line: - JIC Ventures is using FaceUp to launch its investment strategy: back regional founders early, stay hands-on and scale companies with global potential.