A Prague- and Luxembourg-based pre-seed and seed investor, formerly Nation 1 VC, focused mainly on technology startups in the Czech Republic, Slovakia and wider CEE.
Founded —
Type Venture capital 3 N1 Ventures U-Tech 2025-03 2025-03 — Independent fund built by N1; March2025 launch reported; approximatelyEUR10m intended investment budget not verified closed commitments.
Fund I 2019-08-02 2019-08-02 €20M Historical initial EUR20m secured/available in August2019, EUR35m target. Later EUR35.1m reported H12022 not confirmed final close; amount records initial secured amount, not current AUM.
Nation 1 VC fund II — — Official SFDR confirms vehicle; 2024 nearlyCZK1bn target, no verified close/date.
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No co-investors on record yet.
team@apexlogos.ai · 2 days ago
Investment-fund research reviewed 2026-10-06. Publicly identified funds, dates, amounts and fundraising status are below. Undisclosed commitments remain unknown; this is not a complete register of private SPVs or parallel entities.
Fund size: keep fund commitments, targets and budgets separate
| Vehicle/metric | Amount and status | Date and evidence | Confidence/limits |
| --- | --- | --- | --- |
| Nation 1 / Fund I, initial 2019 capital | **€20 million secured/available**, with a **€35 million target** by end-2019 | [Hospodářské noviny](https://byznys.hn.cz/c1-66618490-rozjizdi-se-nova-podpora-start-upu-z-unijnich-penez-cesky-fond-ma-prichystane-stovky-milionu ), 2019-08-02; [CzechCrunch](https://cc.cz/2019/08/novy-cesky-investicni-fond-nation-1-ma-pro-startupy-500-milionu-korun-do-konce-roku-nabere-temer-miliardu/ ), 2019-08-02 | Good historical evidence. €35m was a target in those reports, not a documented final close. HN’s remainder is paywalled. |
| Nation 1 Fund I, later reported size | **€35.1 million**, reported fund size | [AIN Czech VC H1 2022 report](https://special.ain.ua/en/reports/files/czech_vc_funds_h1_2022.pdf ), reporting period H1 2022, exact publication date unavailable | Search-index accessible; direct PDF retrieval failed. Consistent with growth beyond the €20m initial amount but a final-close announcement was not located. Medium confidence. |
| Fund II | **Nearly CZK 1 billion target** | [Wealth Magazin VC Report, issue 1/2024](https://wmag.cz/media/2024/02/Wealth-Magazin-Report-8-cislo-1-2024.pdf ), 2024, PDF path February 2024, p.15 | Promotional firm profile reports planned launch/fundraising, not completed close. Official [SFDR disclosure](https://n1.rocks/disclosure ), undated, accessed 2026-10-06, confirms “Nation 1 VC fund II” exists but supplies no size or close date. |
| N1 Ventures U-Tech | **Approximately €10 million intended investment budget** over coming years | [Euro.cz](https://www.euro.cz/clanky/cesi-podporili-ukrajinsky-startup-ktery-dal-hlas-skywalkerovi-i-presleymu-respeecher-boduje-v-hollywoodu-a-miri-do-her-i-armady/ ), 2025-05-29; launched March 2025 according to report | Budget/plan, **not a verified €10m closed fund**. Official [U-Tech page](https://n1.rocks/utech-fund ), undated, accessed 2026-10-06, calls it an independent fund built by N1. Latest-known newer vehicle found in this review. |
| Aggregate AUM, directory claim | **$60 million** | [The Startupverse](https://thestartupverse.com/vc-directory/firms/nation-1-vc ), undated, accessed 2026-10-06, labels Fund II vintage 2024 | Unverified directory claim; no primary or reputable close confirmation located. Do not record $60m as an individual fund size. |
The 2024 Wealth profile also reports over **CZK 600m invested** by Fund I into 35 companies; that is deployed capital, not necessarily commitments or AUM. EIF/EIB annual reports list **€10.4m** for “Nation 1 Fund” and **€2.6m** for “Nation 1 Fund (Prague)” in their own commitment tables, not full fund size: [EIB Statistical Report 2019](https://www.eib.org/files/publications/general/reports/eib_statistical_report_2019_en.pdf ), reporting year 2019. No newer final-close amount for Fund II or U-Tech was verified despite searches through the research date.
Funds recorded in Adex after this review:
| Fund | Disclosed amount | Announcement / filing date |
| --- | --- | --- |
| Nation 1 VC fund II | Undisclosed / unverified | Unknown |
| Fund I | EUR 20000000 | 2019-08-02 |
| N1 Ventures U-Tech | Undisclosed / unverified | 2025-03 | SHOW MORE
team@apexlogos.ai · 2 days ago
Match research 2026-10-06 / N1Ventures / sha256:cbdca8f2171995d0d68f541286dea3529bcae951e82d4a19a486d0b96d5afc88 / part 2 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
| **Filuta AI** | Deep-tech AI candidate with a research-based composite-intelligence approach combining AI modeling techniques for autonomous planning/automation; not merely generic SaaS. Official company interview explains the technology and confirms financing. Nation 1 participation is separately reported. | **$2.5m / CZK 56m pre-seed**, announced January 2023. [Official company interview](https://filuta.ai/blog/article/1374365b-355b-8082-8dca-e32a72977276/companies-are-opening-up-to-artificial-intelligence ), **2023-06-17**; [E15 investment report](https://www.e15.cz/clanek/byznys/demokratizace-umele-inteligence-startup-filuta-ai-ziskava-pres-50-milionu-1396141 ), **2023-01-23**; [AIN](https://en.ain.ua/2023/01/30/czech-ai-startup-filuta-raises-2-5m-in-a-pre-seed-round/ ), **2023-01-30**. Nation 1 check amount not disclosed. Reports differ on co-investor/program labels; do not treat Microsoft startup support or Horizon grants as equity participants without review. |
| **Respeecher** | Deep-tech AI candidate: voice synthesis/cloning with specialized machine-learning development. Attribution is to the **N1 Ventures U-Tech vehicle**, distinct from Fund I/II. Official fund page names Respeecher as a success story; independent reporting explicitly identifies its first investment. | Investment reported **2025-05-29**, round stage and N1 check amount undisclosed. [Euro.cz](https://www.euro.cz/clanky/cesi-podporili-ukrajinsky-startup-ktery-dal-hlas-skywalkerovi-i-presleymu-respeecher-boduje-v-hollywoodu-a-miri-do-her-i-armady/ ); [official U-Tech page](https://n1.rocks/utech-fund ), undated, accessed 2026-10-06. The page’s **$17.5m total raised** is company cumulative funding, not N1’s check or this round. |
**Related hardware, lower-confidence deep-tech classification:** Pealock develops smart anti-theft locks using motion sensors/Bluetooth. [Forbes](https://forbes.cz/jedenact-milionu-pro-chytry-zamek-pealock-bere-investici-od-prusi-a-nation-1/ ), **2021-03-31**, reports a **CZK 11m round from Nation 1 and Prusa Research**. Firm participation is verified; advanced scientific defensibility is not established, so treat as connected hardware rather than automatically deep tech. The [CVCA 2021 report](https://cvca.cz/wp-content/uploads/2022/06/CVCA-Activity-Report-2021.pdf ), published 2022, instead lists €0.5m from Nation 1 in March 2021: transaction scope/currency needs reconciliation before entering an exact check.
**Baseline lead requiring further verification:** Cerebrica is an industrial production-planning/AI business, not neurotech despite its name. Its [official about page](https://www.cerebrica.com/about_us.html ), undated, accessed 2026-10-06, identifies AI/mathematics expertise, but does not itself verify Nation 1’s investment. Do not promote it to a verified deep-tech transaction solely from the Adex/Signal attribution.
## Previous neurotech investments
**No verified neurotech investment found in the sources checked.** In particular, no verified N1 investment in a brain–computer interface, neural recording device or neuromodulation company was identified. This is a bounded research result, not proof of absence.
**Verified adjacent investment: Mindpax.** [GoingPublic](https://www.goingpublic.de/life-sciences/medtech-start-up-mindpax-erhaelt-seed-finanzierung/ ), **2020-04-22**, names Nation 1, Redwood Capital and individual investors in a **€1.3m seed round**. The [official Mindpax site](https://www.mindpax.me/en/ ), undated, accessed 2026-10-06, describes digital monitoring, diagnostics and therapeutics for bipolar disorder, schizophrenia and major depression, using sleep/activity and mood data. This is mental-health digital therapeutics and physiological/behavioral monitoring; sources checked do not establish neural sensing or brain stimulation. It may be relevant to a broad neuroscience thesis but should be kept distinct from direct neurotechnology. N1’s individual contribution is undisclosed. Mindpax is absent from the 17-company Adex baseline supplied here.
**Hedepy** is also adjacent mental health, not verified direct neurotech: N1’s official site includes its founder testimonial, and [JIC’s VC overview](https://www.jic.cz/cz/magazin/jicblog/velky-prehled-ceskych-venture-capital-fondu ), undated page accessed 2026-10-06, lists it as an online psychotherapy platform backed by N1. Round details were not independently checked for this report. Respeecher’s AI neural networks do not make it a neurotechnology company.
## Review/update notes for a later agent
1. Retain exact ID `N1Ventures`. Treat Nation 1 VC/N1 as names of this firm; retain U-Tech as a separate vehicle where transaction attribution requires it.
2. Broaden the baseline geography/current description only after review: current official strategy emphasizes Europe/US and has a separate Ukraine initiative. Luxembourg is a legal fund domicile; Prague/San Francisco positioning is not a contradiction.
3. Fund I: preserve €20m historical secured amount and €35m historical target; flag later €35.1m reported size until a close document is found. Fund II’s nearly CZK 1bn is a target, not verified close. U-Tech’s €10m is a planned investment budget. Aggregate $60m AUM remains unverified.
4. Review Vrgineers’ dated rounds, add/check Filuta AI and Mindpax evidence, and attribute Respeecher to U-Tech. None of these research notes authorizes an Adex write.
5. Audit the 17 Signal-sourced baseline entries: the current public/indexed profile substantiates a narrower list and contains investments preceding N1’s 2019 investing launch. Do not transfer Trojan’s Credo-era/personal deals into N1 automatically.
6. Treat direct neurotech as unverified; keep Mindpax/Hedepy adjacent and Pealock hardware classification qualified. Remaining portfolio entries and newer undisclosed deals were not exhaustively transaction-verified.
All linked sources were checked or searched on **2026-10-06**. Where only a search-index extract was available, that limitation is stated. Publication dates are taken from articles/report vintages, not search-engine “published ago” metadata. The old nation1.vc endpoint returned HTTP 502 during this research; current n1.rocks was readable. No Adex mutations were performed. SHOW MORE
team@apexlogos.ai · 2 days ago
Match research 2026-10-06 / N1Ventures / sha256:cbdca8f2171995d0d68f541286dea3529bcae951e82d4a19a486d0b96d5afc88 / part 1 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
# N1 Ventures
- **Exact Adex ID:** `N1Ventures`
- **Canonical Adex URL:** https://adex.page/firms/N1Ventures
- **Research date:** 2026-10-06
- **Status:** Completed research handoff, with unresolved fund-close and attribution questions below. Research only; no Adex changes made.
N1 Ventures, formerly Nation 1 VC, is an early-stage technology investor. Its current official positioning emphasizes AI and healthcare across Europe and the US, broader than the Czech/CEE description in Adex. Verified technology investments include **Vrgineers**, **Filuta AI** and **Respeecher**. **Mindpax** provides a verified adjacent mental-health investment, but its wearable digital therapeutics should not be classified as direct neural recording or stimulation. No verified direct neurotech investment was found in the sources checked.
## Starting evidence: Adex MCP and NFX Signal
The existing record was read first from the read-only MCP Search snapshot retrieved **2026-10-06, 19:28:53 UTC**, at `http://localhost:3000/mcp` , searching organization term “N1 Ventures,” label `Match`, exact result `N1Ventures`. The snapshot is retained at `data/research/_sources/N1Ventures.adex.json`. Adex describes a Prague/Luxembourg pre-seed and seed firm, formerly Nation 1 VC, focused on Czechia, Slovakia and CEE; it lists Jaroslav Trojan as managing partner and Ondřej Homola as partner. All check-size fields are empty. Firm source: https://www.nation1.vc/ (Adex evidence dated 2026-09-14).
Adex contains 17 investment claims, all attributed to Trojan’s NFX profile and all missing round dates/amounts: Daytrip, Uget, Mileus, Dot Glasses, Cerebrica, Pealock, Digitoo, GoodAccess, Acreom, Taikun Cloud, DuoCards, Liki24, Respeecher, Every Health, VRgineers, Snuggs and Buildiro. These are baseline claims, not 17 independently verified transactions. This report focuses verification on technology and neurotech relevance rather than validating every ordinary software investment.
**NFX Signal:** https://signal.nfx.com/investors/jaroslav-trojan , undated, accessed 2026-10-06. Initial direct retrieval returned HTTP 429; a subsequent search and direct open succeeded. The live public page identifies Trojan as N1 managing partner, with a **$50,000–$1.5 million investment range** and **$1 million sweet spot**, and pre-seed/seed rankings including AR/VR and digital health. Investment details are sign-in gated on direct reading. The search-index version exposed GoodAccess (September 2021 and February 2023), DOT Glasses (April 2020), Daytrip (June 2017) and Oradian (May 2015). The page mixes personal investments, current firm role and prior Credo Ventures experience. Therefore the 2015/2017 transactions, Codasip board role and SpaceKnow personal investment cannot establish Nation 1 participation. The presently visible profile also does **not** independently substantiate Adex’s full 17-company list.
## Fund size: keep fund commitments, targets and budgets separate
| Vehicle/metric | Amount and status | Date and evidence | Confidence/limits |
| --- | --- | --- | --- |
| Nation 1 / Fund I, initial 2019 capital | **€20 million secured/available**, with a **€35 million target** by end-2019 | [Hospodářské noviny](https://byznys.hn.cz/c1-66618490-rozjizdi-se-nova-podpora-start-upu-z-unijnich-penez-cesky-fond-ma-prichystane-stovky-milionu ), 2019-08-02; [CzechCrunch](https://cc.cz/2019/08/novy-cesky-investicni-fond-nation-1-ma-pro-startupy-500-milionu-korun-do-konce-roku-nabere-temer-miliardu/ ), 2019-08-02 | Good historical evidence. €35m was a target in those reports, not a documented final close. HN’s remainder is paywalled. |
| Nation 1 Fund I, later reported size | **€35.1 million**, reported fund size | [AIN Czech VC H1 2022 report](https://special.ain.ua/en/reports/files/czech_vc_funds_h1_2022.pdf ), reporting period H1 2022, exact publication date unavailable | Search-index accessible; direct PDF retrieval failed. Consistent with growth beyond the €20m initial amount but a final-close announcement was not located. Medium confidence. |
| Fund II | **Nearly CZK 1 billion target** | [Wealth Magazin VC Report, issue 1/2024](https://wmag.cz/media/2024/02/Wealth-Magazin-Report-8-cislo-1-2024.pdf ), 2024, PDF path February 2024, p.15 | Promotional firm profile reports planned launch/fundraising, not completed close. Official [SFDR disclosure](https://n1.rocks/disclosure ), undated, accessed 2026-10-06, confirms “Nation 1 VC fund II” exists but supplies no size or close date. |
| N1 Ventures U-Tech | **Approximately €10 million intended investment budget** over coming years | [Euro.cz](https://www.euro.cz/clanky/cesi-podporili-ukrajinsky-startup-ktery-dal-hlas-skywalkerovi-i-presleymu-respeecher-boduje-v-hollywoodu-a-miri-do-her-i-armady/ ), 2025-05-29; launched March 2025 according to report | Budget/plan, **not a verified €10m closed fund**. Official [U-Tech page](https://n1.rocks/utech-fund ), undated, accessed 2026-10-06, calls it an independent fund built by N1. Latest-known newer vehicle found in this review. |
| Aggregate AUM, directory claim | **$60 million** | [The Startupverse](https://thestartupverse.com/vc-directory/firms/nation-1-vc ), undated, accessed 2026-10-06, labels Fund II vintage 2024 | Unverified directory claim; no primary or reputable close confirmation located. Do not record $60m as an individual fund size. |
The 2024 Wealth profile also reports over **CZK 600m invested** by Fund I into 35 companies; that is deployed capital, not necessarily commitments or AUM. EIF/EIB annual reports list **€10.4m** for “Nation 1 Fund” and **€2.6m** for “Nation 1 Fund (Prague)” in their own commitment tables, not full fund size: [EIB Statistical Report 2019](https://www.eib.org/files/publications/general/reports/eib_statistical_report_2019_en.pdf ), reporting year 2019. No newer final-close amount for Fund II or U-Tech was verified despite searches through the research date.
## Investment stages and mandate
- **Pre-seed and seed:** supported by the firm’s [LinkedIn profile](https://www.linkedin.com/company/n1ventures ), undated, accessed 2026-10-06, which gives €20k–€1.5m investments; and a [2025 CzechTrade official delegation catalogue](https://www.czechtradeoffices.com/getattachment/792d9950-4eac-4e29-bbc5-9cd19ab571f8/KATALOG_UKRAJINA_2025.pdf ), p.12, which identifies pre-seed/seed, an industry-agnostic portfolio and EU/US/Ukraine geography.
- **Current strategy:** official [N1 website](https://n1.rocks/ ), undated, accessed 2026-10-06, describes investing from day zero, early-stage operations in Europe and San Francisco and a focus on AI/healthcare. Official [disclosure](https://n1.rocks/disclosure ) describes seed and early-stage startup financing.
- **Historical later-stage follow-ons:** Vrgineers’ 2023 Series A participation is documented below. This is not evidence of a general Series A entry mandate.
- **Checks remain inconsistent across sources:** NFX’s $50k–$1.5m/$1m sweet spot are partner-profile dollar figures; LinkedIn’s €20k–€1.5m is a firm euro range. A [Czech industry mission catalogue](https://www.copygeneral.cz/files/svaz-prumyslu-a-dopravy/katalog-sp_usa_kanada.pdf ), p.39, undated, accessed 2026-10-06, instead gives €50k–€1m. Do not merge currencies or silently select one range. Current firm confirmation is desirable.
## Previous deep-tech investments
Deep-tech classification below is an analytical judgment based on technological development, not a claim that all portfolio software qualifies.
| Company | Technology rationale and firm attribution | Round/date and supporting sources |
| --- | --- | --- |
| **Vrgineers / VRgineers** | Strong deep-tech fit: proprietary professional VR/MR headsets and integrated pilot-training simulators. Official investee release explicitly names Nation 1 as an existing investor and returning participant. | **$6m Series A**, **2023-11-14**; Nation 1 contributed **$0.5m**. [Official Vrgineers release](https://vrgineers.com/press-release/vrgineers-successfully-closes-6-million-usd-series-a-investment/ ). Earlier entry reported **2019-09-02**, over **CZK 17m for 7.5%**, in [E15](https://www.e15.cz/byznys/startupy/miliardar-muchna-ziskal-podil-v-ceskem-vyvojari-bryli-pro-virtualni-realitu-zakladatele-si-udrzeli-vetsinu-1361975 ). | SHOW MORE
team@apexlogos.ai · 24 days ago
MATCH 
Respeecher
Liki24
Daytrip